US govt agrees to supply coins

You can't make this s(h*t)tuff up. It gives new meaning to an old phrase - out of the frying pan and into the fire. Zimbabweans are substituting one form of hyperinflation for another. Perhaps, the problem lies in the printing press that backs both currencies.

FORGET change problems, getting a token or a sweet as change and being stuck with greasy soiled notes. This is because the United States Federal Reserve has agreed to supply coins and replace soiled notes to Zimbabwean banks in a bid to end change problems in the economy, businessdigest has established.

According to sources, representatives Bankers Association of Zimbabwe led by its president and FBC Bank boss John Mushayavanhu met Finance minister Tendai Biti last week to map a way forward in dealing with change problems in the economy.

The sources, said the US Federal Reserve have “formally” agreed that Zimbabwe’s economy is now dollarised and will now supply Zimbabwe with coins and replace notes.

Source: theindependent.co.zw