Zimbabwe has started printing new banknotes to ease the massive cash shortage in the country.

Economists, however, warn that the printing of cash might further fuel hyperinflation that is now the second highest in the world after Venezuela, Business Day reports.

Zimbabwe has been plagued by cash shortages for the past three years with most ATMs no longer dolling out cash.

Last week, the Reserve Bank of Zimbabwe (RBZ) said it had started printing higher denominated notes as part of its currency reforms.

The Zimbabwean dollar was reintroduced in June in electronic form, after being abolished in 2009 due to hyperinflation.

Bloomberg reports that the new notes should reduce queues at banks and provide people with adequate cash for daily use.

The RBZ could not give dates when the money will be available.

Keesing Technologies

Keesing Platform forms part of Keesing Technologies
The global market leader in banknote and ID document verification

+ posts

The Keesing Platform team brings you the latest in various fields, including security documents, security printing, banknotes, identity management, biometrics, blockchain, crypto technology and online onboarding.

Previous articleEU says no to Russian passport issued to residents of Donbas
Next articleTaiwan remains in US visa waiver programme