HomeLettersTime for New Zim dollar worth $1 000?

Time for New Zim dollar worth $1 000?

I WISH to open debate on whether the time is now right for Zimbabwe to consider introducing a new currency – my suggestion the New Zim dollar worth $1 000 – in light of our runaway inflation.



Arial, Helvetica, sans-serif”>On a change-over date, say January 1 2005, all bank accounts would be quoted in the new currency.


Naturally, extensive education campaigns will be required as well as a transition period where people can bank-exchange their old notes for new. Obviously many technical issues will need to be ironed out to ensure a successful transition. However, I am sure the Reserve Bank is perfectly capable of managing such an exercise.


I cannot be the only one who considers the mind-boggling numbers that we are talking about these days to be ludicrous. Let us restore some sanity to our financial system.


C Kagoro,

Harare.

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