Wednesday, August 20, 2003

Zimbabwe: first arrests for cash hoarding

Four Zimbabweians have the honour of being the first people to be arrested for cash hoarding. They were caught in possession of 13-million Zimbabwe dollars (approx $17,600).
three men and a women were arrested in Harare on Monday after a group of soldiers allegedly spotted them behind a building, dealing out piles of banknotes among each other and stashing them in sports bags.
Zimbabwe is in a cash crisis ... they don't have enough bills circulating! (They also announced an inflation rate that is something like 400%.)

Here is an earlier post on Zim's ban on cash hoarding.