THIS DAY IN HISTORY: 12th April 2009

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THIS DAY IN HISTORY: 12th April 2009 – Zimbabwe abandoned it’s currency, the Zimbabwean dollar (Z$) in the face of several years of hyperinflation reducing it’s value.

Zimbabwe now has a multi currency system which includes use of the United States dollar, British pound and South African rand.

The current government policy states that reintroduction of a Zimbabwean currency will only be considered when industrial output improves.

Of course many in the west are happy, but it begs the question of not only what currency in Zimbabwe, but also elsewhere in Africa. After all isn’t currency another means of controlling African economies? All this is against a backdrop of rumours that the Chinese Yuan may be introduced as Zimbabwe’s official currency.

The following link looks at whether Zimbabwe will change it’s currency once again:

http://thinkafricapress.com/zimbabwe/adopt-chinese-yuan

By: Amma Fosuah

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