Reserve Bank Governor Gideon Gono has just removed twelve zeros from the Zimbabwe currency and issued new currency with immediate effect. The new currency is as follows:
New $500, $100, $50, $20,$10, $5 and a new $1.
Below are the Highlights of this monetary policy and the measures Gono has put in place to try and arrest Zimbabwe's decline. Take special note of his veiled criticism of Mugabe's approach to PROPERTY RIGHTS and THE RULE OF LAW wioth regards to their impact on investment and economic development.
This is courtesy of ZFN: