Mnangagwa says bond notes are not an attempt by Government to bring back Zim dollar before necessary conditions are fulfilled

Speaking at the at the official opening of the inaugural National Economic Symposium and launch of the 2016 Zimbabwe National Competitiveness Report at Rainbow Towers, Harare, last week, Vice President Emmerson Mnangagwa said the introduction of bond notes by Government is not an attempt to bring back the Zimbabwe dollar.

He assured business people and the general public by saying,

I want to assure business and the general populace that bond notes are not going to replace the multi-currency basket that we are already using. In fact, the notes are coming in as an incentive to our exporters who play the critical role of bringing United States dollars into the economy. The bond notes are backed by a $200 million Afreximbank facility and should not be seen as trying to sneak back the Zim dollar before the necessary conditions for de-dollarisation are fulfilled.

A local publication recently published an article stating that the IMF was not aware of the $200 million Afreximbank facility that will be used to back the bond notes.

More: Chronicle

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