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Zimbabwe pays wages in US dollar | Zimbabwe pays wages in US dollar |
(about 4 hours later) | |
Zimbabwe's new finance minister says soldiers and civil servants have started to be paid in US dollars to help revive the shattered economy. | 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. | 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. | 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. | Hyperinflation has left Zimbabwe's local currency almost worthless. |
Soldiers were paid in vouchers redeemable at selected banks on Tuesday, while teachers were to be paid on Wednesday and other civil servants on Thursday. | Soldiers were paid in vouchers redeemable at selected banks on Tuesday, while teachers were to be paid on Wednesday and other civil servants on Thursday. |
We have to get Zimbabwe working again; getting teachers to school is part of efforts to get Zimbabwe to work again Tendai Biti href="/1/hi/world/africa/7848302.stm">Teacher: 'I can't afford to work'Profile: Tendai Biti | |
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. | 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. | "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. | 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. | 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. |
The central bank in February knocked 12 zeros off the local currency - reducing one trillion dollars to one dollar. | The central bank in February knocked 12 zeros off the local currency - reducing one trillion dollars to one dollar. |
Mr Tsvangirai announced last week that civil servants would be paid in foreign currency and appealed for them to return to work. | Mr Tsvangirai announced last week that civil servants would be paid in foreign currency and appealed for them to return to work. |
Analysts say the dollar allowance is the first concrete step from the new government towards rebuilding Zimbabwe since its new cabinet was sworn in last week by President Robert Mugabe. | Analysts say the dollar allowance is the first concrete step from the new government towards rebuilding Zimbabwe since its new cabinet was sworn in last week by President Robert Mugabe. |