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Astrid Mitchell

East African Community – Single Currency

07.27.2010
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On 30 June, at the Sheraton Hotel in Kampala, five ambassadors stood before a map of East Africa, on which ribbons had been placed around the borders of Burundi, Kenya, Rwanda, Tanzania and Uganda. Each ambassador then proceeded to cut the ribbon at the border post of his country, in a symbolic gesture that marked the opening of a common market within the East African Community (EAC).

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Counterfeit Deterrence – Beating the Criminal Element

07.06.2010
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Call it human nature, but ever since the invention of paper money, people have tried to imitate and counterfeit it. The result has been an unending race between issuing authorities and perpetrators. This article, which is based on my contributions to the Banknote 2009 and 2010 Currency conferences, is a review of how authorities have historically tried to deter counterfeiting and how they have responded to new threats. From this perspective, I will then explain the role of the Central Bank Counterfeit Deterrence Group (CBCDG) and its activities, concluding with a short assessment of recent developments in counterfeit production techniques and how to address future threats.

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Death By A Thousand Cuts

04.26.2010
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The recent report by the Payments Council – the body responsible for setting the strategy for payments in the UK – should be a wake-up call to us all in the currency industry. Although the report covers the UK only, it is a trend that is typical of payment systems in many countries around the world. In summary, it documents a decline in the use of cash in the last decade and forecasts a further decline, detailing changes that have been taking place gradually, but steadily. Is this a case of ‘death by a thousand cuts?’ And, if so, is there anything we can do about it?

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Substrate Debate – The End of Paper Notes?

03.31.2010
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Currency News: Comment from the Editor Astrid Mitchell – There could be over 30,000 tonnes of surplus capacity in the commercial banknote paper sector within 3-4 years if all of the proposed investments and changes go ahead…

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Who Will Speak Up for Cash?

10.21.2009
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The past year or so has been by and large a good one for the currency industry. The economic meltdown has led to increased demand for cash, while the banks and financial institutions, preoccupied with rather more weighty issues than pushing people toward payment instruments that benefit them, have gone quiet on the subject.

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