Zimbabwe board denies it is short of funds

Zimbabwe Cricket has denied that it is short of funds, insisting that problems with paying bills are because of government restrictions imposed on withdrawals from bank accounts. Under controversial legislation, no business can take out more than Zim$1 million (US$16) a day.

Speaking to Cricinfo, Lovemore Banda, Zimbabwe Cricket's media manager, said although there could be billions of Zimbabwe dollars in a bank account, it is all but inaccessible. "In other words, being cash-strapped in Zimbabwe at the moment does not equate to being broke. It simply refers to not having enough paper money in one's hands to pay for one's requirements."

The rampant inflation - 231,000,000% and rising - has meant that people are dealing in cash and the central bank is unable to keep up with demand, resulting in the restrictions being imposed.

"At the time that the National League was scheduled to start, the system of electronic payment which hitherto had enabled buyer and seller to engage in gross settlements in real time, was stopped," Banda continued. "Businesses now started demanding payment in cash. What that meant for us was that we needed Zim$48 million in cash for accommodation for just one team for just one night."

While it is possible to apply for funds to be released, at the moment the priority is for more pressing needs such as medical bills and associated costs.

"Faced with harsh reality, we postponed the National League. We will now be having it next year, at one location to minimise the logistical challenges posed by the above."