The cash crisis has beleagured Zimbabwe to the extent that some banks are now effecting $20 as the daily withdrawal limits.
The central bank came up with the bond notes in an effort to solve the liquidity crisis dragging the country into the mud but this has come with little success. The cash crisis has actually worsened, and confidence in the financial sector is being eroded considerably with each growing day.
The Reserve Bank of Zimbabwe injected another $300 million worth of bond notes but this seems to have inspired little confidence. According to the editorial opinion in The Standard, the problem won’t be solved unless the economy starts ticking again. And for the economy to start doing well a myriad of wrong things have to be fixed, that include the politics of the day and the unfavourable policies that chase investors away.
The problem seems to be far from over. The authorities approach towards the crisis has not delivered anything palpable to the citizens of Zimbabwe, except to further worsen a dire situation.
With how things are looking, it only seems that the cash crisis will continue and unless things are fixed, people have to brace for more.