RBZ refutes $100 bond notes claims 

RBZ refutes $100 bond notes claims 

Source: RBZ refutes $100 bond notes claims – Sunday News June 3, 2018

Dr John Mangudya

Dr John Mangudya

Robin Muchetu, Senior Reporter
THE Reserve Bank of Zimbabwe (RBZ) has refuted claims that it is planning to introduce new denominations to the current currency regime amid social media reports that a new $100 bond note is on the offing.

Social media has been awash with images of a $100 bond note claiming it was being introduced to the existing denominations of $2 and $5 bond notes.

The Central Bank Governor, Dr John Mangudya, dismissed the reports of the “new” note saying it was as fake as the people circulating it.

“It is all fake, hakuna zvakadaro. It is all negative works of social media,” said Dr Mangudya.

He warned the public from spreading falsehoods on social media.

Last week, the social media went on overdrive warning of an increase in fuel prices and shortages which culminated in panic buying of the commodity.

The governor appeared before the Parliamentary Portfolio Committee on Mines and Energy recently where he spoke about the panic that social media messages brought to the public over fuel price increases.

He said the fuel shortages that had been experienced on the local market were a result of international increases in fuel prices which had resulted in RBZ’s $10 million weekly allocation for fuel imports falling short of the country’s normal requirements.

The governor blamed social media for exaggerating the fuel crisis and said the Central Bank had since doubled the foreign currency allocation for the importation of fuel to $20 million per week in order to manage the supply gap.

COMMENTS

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    Nintalan 4 years ago

    So the RBZ provides US$10M per week for whosoever to buy fuel. Horrors; the cost goes up so there is insufficient fuel to meet demand. This in a nutshell demonstrates what a hopeless bunch of idiots there are managing the country’s finances.