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.