July 2011
49 posts
“So much on my mind I just can’t recline blast the holes in the Night till she bled sunshine” ~ Mos Def
Zimbabwe allowed trade in the US currency in 2009 after hyperinflation made its money worthless.
US dollar notes are easily available, but there is an acute shortage of cents, the BBC’s Brian Hungwe in the capital, Harare, says.
Shops often barter sweets for change, he says.
Finance Minister Tendai Biti said Zimbabwe’s bankers were in talks with US authorities to “import” coins.
“Efforts to import small dollar coins to ease the small change problem are continuing,” Zimbabwe’s state-owned Herald newspaper quotes him as saying.
“It is envisaged that the coins will be available before the end of the year,” he said.
Our reporter says there has always been a shortage of US cents, causing frustration among Zimbabweans.
Often customers feel short-changed when buying goods, as they are forced to take other items - such as sweets - or run up credit with the shop, he says.
Zimbabwe also allows trade in South Africa’s rand and Botswana’s pula, but people prefer using the US dollar, our reporter says.
Mr Biti opened the economy to foreign currencies after he became the finance minister in 2009 in the power-sharing government formed to end the political and economic crisis in Zimbabwe.
The move helped to stop the economic free-fall in Zimbabwe, where at one stage a Z$100 trillion note was issued.
The crisis was triggered by years of conflict and economic mismanagement, blamed on President Robert Mugabe and his Zanu-PF party.
Mr Mugabe agreed to a power-sharing government with his bitter rival Morgan Tsvangirai and his Movement for Democratic Change party following elections marred by violence in 2008.
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SHUT UP AND ENJOY THE MUSIC!
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Crazy tune by Mohombi- In Your Bed Produced by Red One
Barça’s management style chimes in with the thinking of two admired theorists. Boris Groysberg, of Harvard Business School, has warned that companies are too obsessed with hiring stars rather than developing teams. He conducted a fascinating study of successful Wall Street analysts who moved from one firm to another. He discovered that company-switching analysts saw an immediate decline in their performance. For all their swagger, it seems that their success depended as much on their co-workers as their innate talents. Jim Collins, the author of “Good to Great”, argues that the secret of long-term corporate success lies in cultivating a distinctive set of values. For all the talk of diversity and globalisation, this usually means promoting from within and putting down deep local roots.
