(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)
As Zimbabwe’s money runs out, so does Mugabe’s power
In Zimbabwe, where worthless $100 trillion notes serve as reminders of the perils of hyperinflation, President Robert Mugabe is printing a new currency that jeopardizes not just the economy but his own long grip on power.
Six months ago, the 92-year-old announced plans to address chronic cash shortages by supplementing the dwindling U.S. dollars in circulation over the past seven years with ‘bond notes’, a quasi-currency expected at the end of November.
According to the Reserve Bank of Zimbabwe (RBZ), the bond notes will be officially interchangeable 1:1 with the U.S. dollar and should ease the cash crunch. The central bank also promised to keep a tight lid…
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