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Zimbabwe to Introduce High Denomination Banknotes

Zimbabwe’s Finance Minister has mentioned that a new set of banknotes ranging from $10 to $50 will be introduced within a couple of months to remove cash shortages.

He was talking to the press while attending the 2020 World Economic Forum taking place in Davos, Switzerland. The government has also signed contracts to ensure maize were delivered on time to avert a shortage of food in the country.

But economists warned that the move could further increase inflation and destabilize the country.

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