GONO TO REINTRODUCE TRAVELLER'S CHEQUE

Zimbabwe central governor, Mr Gideon Gono is set to reintroduce the traveller's cheque during the forthcoming festive season, a source close to Gono has revealed. According to the source, the traveller's cheque will be circulated and issued as legal tender beginning early next month. The initiative comes at a time when the cash crisis continue to cripple the economic transactions of the dire majority of Zimbabweans. Having set the maximum withdrawal at five hundred thousand dollars last week Gono has continued to cast a blind eye amid the severe cash shortages that has hit the banking sector for the better part of this year. ''Five hundred thousand is not even enough to buy a bundle of vegetables but Gono is reluctant to increase the withdrawal limit'', complained a street vendor in Harare.

Altough the reintroduction of the traveller's cheques is laudable it remains to be seen how the business sector will react. ln 2004 the business sector rejected the use of the cheque as a legal tender citing lack of secure security features which perved way for their unauthorised duplication. Mr Gono's 5-year reign as governor has been marred by corruption within the banking sector and more than all Zimbabweans passionately awaits for his exit from the central bank.