Publications
Partners
Johannesburg - The Zimbabwean government will continue using the multiple-currency system while addressing problems related to the shortage of change and small denominations, Zimbabwe's Herald online reported on Thursday.
"There is anxiety, particularly within the business sector, on the future course of government with regards to the foreign currency regime," Finance Minister Tendai Biti said.
"This also follows government pronouncements in previous budget statements for a review of the currency system at the end of 2012."
But Biti said empirical evidence showed that there was economic stabilisation as a result of the adoption of the multiple currencies.
He highlighted the need to continue with the multiple currency system in order to allow consolidation of the prevailing fragile macro-economic environment and building of confidence for the ongoing economic recovery efforts.
Biti also expressed concern over the shortage of smaller denominated coins.
He said in the 2011 budget, government undertook to facilitate the acquisition of smaller denominated coins to alleviate difficulties being faced by the public.
"Efforts to import small dollar coins to ease the small change problem are continuing, with the Bankers' Association of Zimbabwe now spearheading the process in liaison with US financial authorities.
"It is envisaged that the coins will be availed before the end of the year," he said.
"There is anxiety, particularly within the business sector, on the future course of government with regards to the foreign currency regime," Finance Minister Tendai Biti said.
"This also follows government pronouncements in previous budget statements for a review of the currency system at the end of 2012."
But Biti said empirical evidence showed that there was economic stabilisation as a result of the adoption of the multiple currencies.
He highlighted the need to continue with the multiple currency system in order to allow consolidation of the prevailing fragile macro-economic environment and building of confidence for the ongoing economic recovery efforts.
Biti also expressed concern over the shortage of smaller denominated coins.
He said in the 2011 budget, government undertook to facilitate the acquisition of smaller denominated coins to alleviate difficulties being faced by the public.
"Efforts to import small dollar coins to ease the small change problem are continuing, with the Bankers' Association of Zimbabwe now spearheading the process in liaison with US financial authorities.
"It is envisaged that the coins will be availed before the end of the year," he said.
