Running out of cash
Bulawayo is running out of cash. Even The Chronic thinks its bad:
Bulawayo has been hit by an acute shortage of cash with banks giving notes as low as $500 which retail outlets and bus operators are refusing to accept. The cash shortage in the city surfaced at the weekend forcing some residents to spend several hours in queues.
A snap survey by Chronicle yesterday revealed that the cash crisis was worsening amid revelations that only $20 notes would be distributed today.
It is now common to see residents walking around with wads of notes some of which are carried in bags.
However, some people are withdrawing cash from supermarkets where $100 000 and $200 000 notes are available.
The residents are forced to shop from the supermarkets in exchange for high denominations.
The banks are giving out cash in denominations of $1000. I queued today to get some, behind a person who had taken a box to the bank to carry their money; we both left with nothing.
Typically, blame for this crisis is shifted away from the government’s mismanagement of our economy and onto scapegoats. Using the normal government propaganda strategy of citing (always unnamed) analysts/experts/advisors, The Chronic article went on to say this:
Analysts explained that the cash shortage could be a result of illegal foreign currency dealers popularly known as osiphatheleni, holding on to cash.
They said osiphatheleni had speculative tendencies whenever the festive season approaches. “Thousands of Zimbabweans in the diaspora will be flocking back home for the holidays and money changers want to take advantage of that. Monetary authorities should address the matter as a matter of urgency,” said an analyst.
“Monetary authorities should address the matter as a matter of urgency”. With those words, I sense another round of ugly victimisation about to ensue.
