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Zimbabwe Banks Close Despite Cash Shortage


A cash shortage in Zimbabwe has forced anxious citizens to swarm banking machines after the government scrapped a promise to keep banks open during the Christmas holiday.

With banks closed Tuesday customers were unable to travel home for the holiday, or spend money shopping in the inflation-ravaged country.

Customers are also anxious to exchange the 200,000 Zimbabwe dollar note that the Central Bank Governor, Gideon Gono, says will expire on December 31.

As part of its effort to ease the cash shortage, the Central Bank last week said it injected another 20 trillion Zimbabwe dollars (worth about $10 million on the black market) into the economy in higher denomination bills.

Zimbabwe has struggled with severe inflation as the country suffers from food and fuel shortages.

Some information for this report was provided by AFP and Reuters.

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