CENTRAL Bank chief Gideon Gono had some curiously frank advice for US Treasury secretary Tim Geithner on printing money at a Zimbabwe Independent dialogue function in Harare this week.
The US is hoping to raise the federal debt limit by the beginning of August this year to avoid another economic crisis.
Gono’s advice was not without basis. The Reserve Bank governor has done it and seen it all. Until 2009 he had an unenviable appetite for printing money and stoking inflation.
By the time government adopted multiple currencies, the legendary Weimar Republic’s runaway inflation was a non-event by comparison as a single Zimbabwe bearer’s bill was as high as Z$10 trillion.