No going back on bond notes: VP

Vice-President Emmerson Mnangagwa has urged Zimbabweans to brace for the introduction of bond notes saying it was the only tool the government could use to control monetary flows.

Source: No going back on bond notes: VP – NewsDay Zimbabwe October 5, 2016

BY XOLISANI NCUBE

Addressing a luncheon to mark the official opening of the Fourth Session of the Eighth Parliament in Harare yesterday, Mnangagwa said government was not going back on the introduction of bond notes, warning Zimbabweans should accept the reality befalling them soon.

Mnangagwa and his counterpart Phelekezela Mphoko addressed the luncheon on behalf of President Robert Mugabe, who flew to Malaysia on government business soon after officially opening Parliament.

“Allow me to tell our people that it‘s better they realise that we are not going to change, they better accept the reality that bond notes are coming,” Mnangagwa said.

“We are in the process of crafting legislation to govern the introduction of bond notes. Currently, our legal tender system does not accommodate bond notes. We have four currencies in the legal tender basket, but we have no control of any of them. So as government, we said should have our own currency that we can control and circulate within.”
Mnangagwa said Zimbabwe had to have its own currency as the prevailing situation exposed its economy.

The luncheon was hosted by Local Government minister Saviour Kasukuwere.

COMMENTS

WORDPRESS: 6
  • comment-avatar
    Joe Cool 6 years ago

    How nice to have lunch.

    “as government, we said we should have our own currency”. No reintroduction of the Zim dollar?

    “Zimbabwe had to have its own currency that we can control and circulate within”. No reintroduction of the Zim dollar?

    But the biggest problem here, is that this moron doesn’t have the intelligence to talk the sweet talk we have been hearing from the other imbecile proponents of the ‘bond notes’, including the RBZ governor who is unable even to count.

    It’s like watching a cage of retartded rats trying to climb the glass.

  • comment-avatar

    Yes Mr VP intoroduxe them & we will show you that they don’t work in this new Zimbabwe. Go on

  • comment-avatar
    fixzimbabwe 6 years ago

    Brave new Zimbabwe.
    It reminds me of the derogative terms Zimbabweans used in the eighties to refer to the Zambia kwacha, how times can change.
    Maybe a new name for the currency would inspire more confidence?
    * one Golden Ndebele equals a 100 copper Shonas

    • comment-avatar
      Fallenz 6 years ago

      Difference is that the kwacha is backed by real value, while the Zim bond notes will be backed by corruption, nepotism, patronage, and grand theft in a lawless land run by criminals. What do you propose the exchange rate will be? Get ready for the return of mega-inflation! We about to be bilked again because every US$ that enters Zim will end up stacked, packaged, and shipped out to private off-shore accounts. The bank heist continues.

      Prediction: six months after introduction, those pieces of paper will be laying in the streets just like the Zim dollars.

    • comment-avatar
      Felix Kunakirwa 6 years ago

      You idiot dont be tribalistic, we have no room for that in the emminent new Zimbabwe. In any case whats golden about you, being criminals in South Africa? Shame on you.

  • comment-avatar
    nelson moyo 6 years ago

    HOKOYO FELLOW ZIMBABWEANS
    These Zimbabwe bond notes or counterfeit US dollars will lose 90 per cent of their value within the first week of their release – of this I can guarantee – hold onto your US dollars under your bed or in your own pocket at all times comrades !