The authorities in the southern African nation of Zimbabwe said on Wednesday that the country will print a new local version of the U.S. dollar as part of efforts to ease a worsening severe cash shortage. According to a press release by the country’s central bank governor John Mangudya, Zimbabwe will print bond notes in $2, $5, $10 and $20 denominations backed by $200 million provided by the Africa Export-Import Bank (Afreximbank). The bond notes that will have the same value as the U.S. dollar are presently in the “design stage” according to the authorities and will be issued “within the next two months.” The country’s severe cash shortage followed a...
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