Friday, 11 April 2014

u.s refuse with their coins

ZIMBABWE’S sour relations with the U.S has also affected the implemented plans of alleviating currency shortages. this comes after the failure of coming to agree on one thing on asking the U.S to give its coins to the government for usage.the multi currency economic system which seems to have stabilised n terms of inflation will continue depending on the South African rand coins.  

The ministry of finance were shocked at the turn around of the group of delegates whom they were making the deals with, when they refused after assuming to be making progress. of course the relationship between these two countries was never good since back in time and l do not think this had something to do with the relationship but maybe the U.S saw the impacts this will have on their own economy.
Most people put the blame on sanctions, for the poor economy of the country but thereare so many other countries that have sanctons iposed on them but they are still doingvery well. look at the Asian countries who do not eat from the same table with the European countoes but their economies are far much better that ours.
 it is true though that hyperinflation, forced Zimbabwe to abandon its own currency in 2009 in favour of a multi-currency regime anchored around the US dollar and later on, the South African rand.
Too much travelling had occured in the past three years to the U.S.  And despite the refusal of the American US Federal Reserve bank, had this deal gone through, the country was going to take out some money for the transportation of then coins, not by air but by ship.
http://www.financialgazette.co.zw/wp-content/uploads/United_States_money_coins.jpg

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