Chaos as RBZ extends Z$200 000 notes lifespan
The Reserve Bank of Zimbabwe (RBZ) made a spectacular policy summersault on New Year's eve by indefinitely increasing the lifespan of the $200 000 bearer cheques which were due to be phased out on January 1, 2008.
Central Bank governor Gideon Gono told journalists in Harare that the extension of the note, which he had de-monetised on December 19, has been necessitated by the incessant rains which hampered the cash swap exercise in remote rural districts.
