ZIMBABWE PAYS WAGES IN DOLLARS


Zimbabwe’s new finance minister says soldiers and civil servants have started to be paid in US dollars to help revive the shattered economy. Tendai Biti, a member of the opposition party, said some 130,000 government employees were receiving $100 (£70) a month tax-free.

The state had enough foreign currency to pay the wages for February and March, Mr Biti told a news conference. Hyperinflation has left Zimbabwe’s local currency almost worthless.

Soldiers were paid in vouchers redeemable at selected banks on Tuesday, while teachers and were to be paid on Wednesday and Thursday.

Mr Biti, a member of newly installed Prime Minister Morgan Tsvangirai’s Movement for Democratic Change (MDC), said the measures were designed to get the country back on its feet.

“We have to get Zimbabwe working again; getting teachers to school is part of efforts to get Zimbabwe to work again, having examination papers being marked is part of having Zimbabwe work again,” Mr Biti said.

The country has the world’s highest official inflation rate – estimated by some economists at 10 sextillion per cent.

Zimbabwe’s political and economic crises have reduced the country’s dollar, once on par with the British pound, to almost nothing, forcing Zimbabweans to pay trillions of dollars for a loaf of bread

SOURCED FROM THE BBC

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