Harare July 5, 2010 - Cash-strapped Zimbabwe currently only has US$1.9 billion in its commercial banking sector, Radio VOP can confirm.

"The country has only US$1.9 billion in deposits," a member from the Bankers Association of Zimbabwe said in an exclusive interview.

"This is a far cry from the US$4 billion that we expected to kick start our fragile economy."

The Bankers association President John Mushayavanhu confirmed to Radio VOP that the country had attracted only US$1.9 billion in deposits in the commercial banking sector.

"The issue of sanctions is still with us and as long as there are sanctions there will be no money coming into the nation."

Sanctions were applied on President Robert Mugabe and his Zanu (PF) cronies but they have spread to affect the whole nation.

President Mugabe has asked that they be removed immediately as they are affecting everyone and not himself only.

The Minister of Finance, Tendai Biti, has also confirmed that not enough cash existed in Zimbabwe.