EU sanctions hit zim banknotes

ZIMBABWE WILL need to find a new source of banknote paper following the withdrawal of services by its regular supplier, the German company Giesecke & Devrient. “The management board has decided to cease delivering banknote paper to the Reserve Bank of Zimbabwe with immediate effect,” CEO Dr Karsten Ottenberg said last week. It’s in response to an official request from the German government and calls for international sanctions by the European Union and United Nations. “In delivering banknotes and banknote paper, Giesecke & Devrient is subject to strict rules defined by the World Bank,” said Ottenberg. “The company continues to rely on the political and moral assessment provided by international trade regulators.”