zimbabwe cash crisis

The cash crisis is worsening with some banks reportedly turning away their clients as early as 7am yesterday, advising that they had no money.
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A showdown is looming between police and Zimbabwe Congress of Trade Unions ZCTU) after the latter filed a court application yesterday seeking to be granted permission to carry on with their demonstration over the recently introduced tax…
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Finance minister Patrick Chinamasa has said shortages of cash reflect the mismatch of US dollars in bank accounts and physical cash in the economy.
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Scores of tobacco farmers spent the Easter and Independence holidays at the three tobacco auction floors in Harare, while waiting for their banks to release cash upon their reopening on Wednesday. While some of the farmers had to seek…
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By Eddie Cross Since the end of 2015, the country has seen its cash crisis escalate to the point today when Banks cannot pay out clients more than a small proportion of what is in their accounts. In a “normal” economy this would…
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By Jeff Chinembiri | Harare Bureau | Fuel dealers in Harare are demanding cash at fuel stations, snubbing plastic money and mobile payment platforms like Ecocash due to fear of losing savings to the impending bond notes.…
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Unscrupulous bank officials in Mutare are allegedly smuggling cash to illegal forex dealers who are in turn re-trading the notes at a premium.
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By Eddie Cross At the beginning of this year the Reserve Bank suddenly imposed cash withdrawal limits on local bank accounts. The limit was US$10 000 a day. That may not be enough for Grace Mugabe, but for most of us it represented a…
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By Africa Moyo Employers in Zimbabwe are considering docking salaries for workers who squander productive time on cash queues but labour unions say they are prepared to fight such an “injustice” to the hilt. Cash shortages began in March…
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Cash shortages in Zimbabwe are worsening as the introduction of bond notes, which is set for November, to stem the problem becomes imminent.
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