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/ 16 January 2008

Zimbabwe to introduce new banknotes

New banknotes, including a Z$10-million bill, will go into circulation in inflation-ravaged Zimbabwe this week, the central bank’s governor said on Wednesday. Less than a month after announcing a similar move, Gideon Gono said the new notes would provide much-needed relief to consumers who often have to go shopping with sacks of cash.

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/ 30 December 2007

Report: Zim MP flees to UK over currency probe

A legislator in Zimbabwe’s ruling party has fled to Britain, fearing arrest in a police probe of foreign-currency payments he made last month, official media reported on Sunday. The state-owned Sunday Mail quoted unnamed sources as saying police wanted to interview David Butau, the Zanu-PF MP for a northern constituency.

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/ 12 October 2007

Zimbabwe fuel shortage threatens tobacco output

Zimbabwe’s agricultural production is poised to plummet further amid revelations that the country has secured less than 5% of the agricultural sector’s fuel requirements for the 2007/08 season. In a development likely to hurt the key tobacco sub-sector, only 9-million litres of fuel have been acquired by cash-strapped Harare authorities.

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/ 1 October 2007

Zimbabwe lifts main lending rate to 800%

Zimbabwe’s central bank on Monday raised its main lending rate to 800% from 650% to tame ”angry and formidable” inflation, Reserve Bank of Zimbabwe Governor Gideon Gono said. The central bank also will launch a new currency soon to try to curtail a thriving foreign-exchange black market, he announced in a bi-annual monetary policy speech.