Chinamasa indicates Bond Notes are unlikely to be released soon

Posted by Tayana

Patrick Chinamasa has indicated that the bond notes are not likely to hit the market anytime soon, as government is yet to finalise modalities for the introduction of the currency.

In his opposing affidavit in papers filed with the High Court on October 6 Chinamasa said,

The parameters within which the bond notes shall be introduced and implemented are still at conceptualisation stage and nothing is as yet, cast in stone in this regard. The proposal, which is in principle supported by the government, is still in its planning stage and shall be subjected to a rigorous procedure of approvals before it can be implemented.

In presenting the mid-term monetary policy review last month, Mangudya said bond notes would be introduced this month, although some reports say this has been moved to early November.

More: NewsDay



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