Zimbabwe will introduce higher currency denominations including a $50 dollar note to address cash shortages, Finance Minister Mthuli Ncube has said..
Ncube revealed this during an interview with Bloomberg TV on the sidelines of the World Economic Forum underway in Davos, Switzerland.
“First of all, we are doing two things, we are injecting cash into the economy, drip feeding the economy. But we want to do it in a non- inflationary way where we are changing electronic currency for physical cash,” said Prof Ncube.
“Second thing, we are introducing higher denomination notes $10, $20 and $50 during the course of 2020. That is what we would be doing; introducing higher denominations notes to make sure that it’s easy for citizens to transact. That is going to happen in the next few months.”