Finance and Economic Development Minister Professor Mthuli Ncube said on Tuesday Government was not in a hurry to issue new Zimbabwean dollar notes/coins, but rather focused on the need to replace soiled bank notes and coins.

Professor Ncube told journalists in the capital, Harare, that priority was also on establishing the extent of demand and the amount of physical cash required by the market.

The Treasury chief’s remarks follow recent media reports that Zimbabwe would soon issue out a new regime of bank notes and coins after it recently reintroduced domestic currency after scrapping the local unit in 2009.

After banning the multi-currency regime in June, Zimbabwe’s sole legal tender is now constituted by real time gross settlement (RTGS) balances, bond notes and coins, which collectively represent the new Zimbabwean dollar.

Asked if he will introduce a new regime of Zimbabwe dollar currency, Prof Ncube retorted; “Not just yet, when we are ready we will let you know ourselves; officially.”

He said at the moment the focus was on replacing worn out and soiled bank notes and coins as well as determining and closing gaps in terms of the quantum required.

“The Zim dollar as things stand is basically bond notes, RTGS and bond coins; that is the official position; that is where we are right now. When we are ready to do anything else we will let you know,” the Finance Minister said.State media