ZIMBABWE NETZWERK e.V.

Dollar shortage highlights Zimbabwe's woes

Tony Hawkins (Financial Times) writes in New Zimbabwe: " The queue outside the Harare branch of CABS bank stretches to at least 60 people, as Zimbabweans wait patiently to withdraw cash amid a deepening US dollar shortage in the country. If they are lucky, the cash machine will have notes - many do not and availability can vary depending on the time of day. In nearby shops, retailers warn that the scarcity of dollars - the dominant currency in the import-dependent nation - will soon start to show on supermarket shelves. Authorities this week imposed restrictions on imports of a range of goods, from bottled water to fertilisers and canned beans, while local businesses complain of not being able to pay suppliers. ...".