There seems to be no end in sight for the cash crisis which started late in 2015 with most banks still continuing to impose a daily cap on cash withdrawals.

A snap survey carried out by ZBC News in Harare today showed that most banks are still rationing cash to the frustration of their customers.

Bank customers were withdrawing not more than $100 with most banks having run out of cash by midday.

Only a few ATMs were dispensing cash but still these were from foreign owned banks.

Mr Brains Muchemwa, a macro economist, said at over 2%, Zimbabwe has the lowest cash to deposit ratio in the world and this is worsened by huge RTGS balances being held by banks.

He also pointed out that the government has exhibited enough political will to institute far reaching macro economic reforms in order to permanently arrest this situation.

As President Emmerson Mnangagwa’s government is in an overdrive to recover and revive the country’s economy, addressing the cash situation remains one priority.