| Firm stops supply to Bank of Zimbabwe |
|
|
| Written by Adrie van der Luijt | |
| Wednesday, 02 July 2008 | |
|
Deliveries of banknote paper to the Reserve Bank of Zimbabwe have been halted with immediate effect.
The German company Giesecke & Devrient said it had taken the step in response to an official request from the German government and calls for international sanctions by the European Union and United Nations. Dr. Karsten Ottenberg, chairman of the management board and CEO of Giesecke & Devrient GmbH, said that the decision was a reaction to the political tension in Zimbabwe, which was mounting significantly rather than easing as expected. “It takes account of the critical evaluation by the international community, German government and general public,” he explained. In delivering banknotes and banknote paper, Giesecke & Devrient is subject to strict rules defined by the World Bank. The firm had come under increasing pressure to stop the supply of banknote paper in the wake of the election fiasco that saw Robert Mugabe reconfirmed as the country’s president amidst rampant inflation. The company said it continued to rely on the political and moral assessment provided by international trade regulators. Earlier this week supermarket giant Tesco stopped trade with farmers in Zimbabwe after it had previously defended its contracts worth £1 million a year as support for impoverished farmers. Related articles Related links |
Subscribe to our weekly newsletter for top jobs, news and more
Digg it!
Post to del.ico.us
Seed in Newsvine
Post to Reddit
Post to Furl
Post to technorati
