The E-Sylum:  Volume 10, Number 31, August 5, 2007, Article 17

ZIMBABWE ISSUES NEW BANKNOTES AS RUNAWAY INFLATION CONTINUES

"The Reserve Bank of Zimbabwe will on Wednesday unveil a new
200,000-Zimdollar banknote as runaway inflation continues
to erode the purchasing power of the local currency.

"The new bearer cheque begins its circulation from Wednesday,
becoming the highest denomination in an economy battling world
record inflation now estimated at more than 5,000 percent.

"Zimbabwe has not had real banknotes since 2004 and uses
temporary paper money known as bearer cheques.

"The original idea was for the cheques to run for a year up
to 31 December 2004, while the government stabilised the
economy and reined in inflation.

"The lifespan of the bearer cheques has repeatedly been
extended after the government has failed to control inflation."

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  Wayne Homren, Editor

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