Banks scrambling to avert a looming cash crisis

Zimbabwe banks are scrambling to avert a looming cash crisis with potentially disastrous consequences as financial institutions struggle to import cash timeously ahead of the festive season.

The banks want government, through the Reserve Bank of Zimbabwe, to assist in preventing cash crisis during the Christmas holiday.

Government sources say fiscal and monetary authorities are keen to intervene so that the re-engagement process with international financial institutions is not derailed.