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ZCTU issues ultimatum to Reserve Bank of Zimbabwe on cash withdrawals
Zimbabwe Congress of Trade Unions (ZCTU)
September 22, 2008

The ZCTU General Council, which met on Saturday 20, September 2008, has given the Reserve Bank of Zimbabwe (RBZ) a seven day ultimatum to address the current deepening cash crisis affecting the generality of Zimbabwean workers, or it will call for National Action.

A letter to that effect has been delivered to the Reserve Bank Governor, Dr. Gideon Gono.

In the letter, the general council notes with concern that, ordinary Zimbabweans, particularly workers, are now finding it difficult to access their hard earned money from the bank. When they finally do so, the amount so withdrawn is not even enough to purchase two loaves of bread or meet the daily needs.

It also noted that ordinary Zimbabweans who can not use either the RTGS, cheque or electronic cards as a mode of payment, are being or have been reduced to paupers despite the fact that they do have money in the banks.

A major point of concern which was raised in the general council meeting is that, members of the armed forces and or some bank employees are being treated differently from other members of the public as regards the maximum daily cash withdrawal limit of $1 000.

The general council was informed that the two categories are allowed to withdraw a maximum of $10 000 and $30 000 per day respectively.

Concern was also raised that money changers on the parallel market have hordes of new notes, some with new notes in plastics, showing that they could have been obtained from the RBZ.

The general council therefore resolved that cash withdrawal limits be removed completely or at least be adjusted to realistic levels that enable families to meet their daily needs. The RBZ should also allow employers to pay their workers in cash.

It was further resolved that the RBZ must address these pressing concerns from workers within seven days from September 22, 2008, failure of which ZCTU will be forced to embark on National Action, whose mobilization is already in motion.

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