Accessibility links

Some Expect New Currency From Zimbabwe Central Bank In 2007


There is increasing speculation the Reserve Bank of Zimbabwe will introduce a new currency in 2007 - but economists say this won’t curb inflation or restore growth.

The central bank notionally lopped three zeros off the currency in reforms announced July 31, and issued new so-called bearer or promissory notes. But some say Reserve Bank Governor Gideon Gono is determined to administer stronger medicine in the form of an entirely new currency, possibly called the ivhu, Shona for "soil."

The Web-based news agency ZimOnline reported this week that Gono could unveil a new currency scheme in January when he delivers a monetary policy update.

The only benefit of a new currency at this point, economist Eric Bloch told reporter Patience Rusere, would be some savings on the cost of printing bearer notes.

More reports from VOA'S Studio 7 for Zimbabwe...

XS
SM
MD
LG