The Reserve Bank of Zimbabwe (RBZ) has today (Thursday) failed to inject the new bearer cheque notes into circulation thereby causing more panic to the public as many had to spend the whole day in bank queues anticipating the new notes and an end to the cash crisis.

Gono couldn't keep up to his promise to deliver the new bank note.

All banks in the capital, Harare had long winding queues with some people sitting on the pavements whilst some brought chairs with them.

A source at ZABG Bank said the bank did not receive any money today (Thursday) as no delivery was made by the RBZ.

"At 5am, people were already in the queue until the close of business when they were sure nothing will come their way," he said.

Speaking on national radio and TV on Wednesday night, RBZ governor Gideon Gono introduced new bearer cheques of $250 000, $500 000 and $750 000.

He promised these would be issued today (Thursday).

"We are still waiting for the RBZ to act on the situation. There is nothing we can do," added the ZABG source.

Charles Banga says he is very disappointed by the way Gono has handled the cash crisis.

"Yesterday (Wednesday), I was relieved to hear that the RBZ chief was to make an announcement concerning cash, on radio and TV."

"I also felt a bit better when he said new notes would be in circulation starting Thursday."

"However, I was so angry as nothing was injected into circulation. I was also one of the many who woke up early to join the bank queue," he said.

According to Gono, the $5 000, $10 000, $50 000 and $100 000 notes will remain legal tender.

However, the $200 000 bearer cheque has been phased out with effect from the 1st of January 2008 whilst traders would be allowed to deposit such notes up to the 2nd of January 2008.

People in the queue at Barclays Bank indicated they spent the whole day at the bank as there was said to be no cash.

"I have given up on this and I am not coming back tomorrow until I hear the situation is a bit normal," said one trader.

By close of business yesterday (Wednesday), sources indicated trucks could be seen queuing at the central bank (suspected to deliver cash to banks).

Rumours were also that banks would close business at 6pm.

Gono blames the cash crisis on "cash barons" accused of holding more of the $67 trillion cash in circulation hence the scrapping of $200 000 notes which Gono believes is stocked by these individuals.

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