Mugabe's Gone, But Zimbabwe Still Has A Serious Cash Shortage
"It's a little after 8 a.m. on a Wednesday morning in downtown Harare, and Brandon
Moyo has been waiting in line for the ATM for over four hours already. He's hoping to withdraw $20 — but it's not looking promising. There are over 20 people in front of him and bank officials have already warned they might run out of cash before he gets to the front."
"Moyo is from a small farming town about 65 miles outside of Harare. He says banks in his town usually don't have any cash at all these days, so he takes a bus into the Zimbabwean capital city twice a week to wait in a line like this. He has to pay for that bus ride in cash, and if the bank runs out before he can get some, he sometimes has to stay overnight until he can try again."
"Zimbabwe has been facing a major cash shortage for the past two years, a symptom of the country's larger and longer economic crisis. After Robert Mugabe was ousted from power by the military last November, his replacement, Emmerson Mnangagwa, has claimed that Zimbabwe is now "open for business." But getting cash into the country is complicated, and access to physical currency hasn't improved with the leadership change."