Printers stop providing Zimbabwe with banknote paper
by Richard Kilner
German printers Giescke & Devrient have taken the decision to stop providing the Reserve Bank of Zimbabwe with banknote paper.
The move, which came into effect on Tuesday, comes in response to the growing worldwide condemnation of Robert Mugabe.
The European Union and United Nations have both called for sanctions, and the German government made an official request to the printers, who acted accordingly.
Dr. Karsten Ottenberg, chair of the management board and CEO, explained that the move came as the Zimbabwean situation sees increasing rather than decreasing tensions.
In response to the withdrawal of Giescke & Devrient’s banknote paper supplies, the Reserve Bank of Zimbabwe’s governor, Dr. G. Gono, has issued a press release.
In it, he states that its operations will not be disrupted by the action, and that contingency plans have been put into effect.
However, it is not made apparent what these measures and strategies are.
The people of Zimbabwe are advised by Dr. Gono to continue as normal in their financial activities.
Add to Bookmarks:
Related stories to: Printers stop providing Zimbabwe with banknote paper»
No comments yet.Leave a comment
Previous: « JPMorgan strikes deal with SAMCo
Next: ECB increases interest rates by 25 basis points »
Visited 2278 times, 1 so far today