We Will Scrap The Bond Note And Join The Rand Monetary Union Says MDC Alliance

 

The coalition of opposition parties, the MDC Alliance has declared that it will scrap the bond notes and join the Rand monetary union instead in order to stabilize the economy. This was revealed by People`s Democratic Party (PDP) leader Tendai Biti at an MDC Alliance rally in Mutare over the weekend.


Introducing the Pindula News Mobil App
Download from Google Play Store

Biti who was the minister of finance during the Government National Unity (GNU) told supporters,

We want to join Rand Monetary Union (RMU).We will use the Rand in the country and see where it will take us to.

The secret to the success of this country is that we have our brand Morgan Tsvangirai who is trusted all over the world. Economics is about confidence and trust. The Mnangagwa government has kwashiorkor ye (of) trust and confidence.

I went to America with Chamisa and Zanu PF cried but we were invited there because the international community trusts and has confidence in the MDC Alliance.

At the same rally, MDC-T vice president Nelson Chamisa claimed that the opposition had been promised US$15 billion funding by United States president Donald J Trump for reconstruction and economic recovery.  Some economists and business people have urged the monetary authorities to base the economy on the South African Rand instead of the United States Dollar.

More: New Zimbabwe

 

Bond NotesMDC Alliance

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

The MDC Alliance was a coalition of seven opposition parties that was launched on the 5th of August, 2017 at the Zimbabwe Grounds in Highfield, with the aim to challenge Zanu-PF in 2018 harmonised elections. It was later registered as a political party with the... Read More About MDC Alliance

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/D4vbg5RLhkbFfVyMdu8rLi


Telegram Group: https://t.me/pindula

Back to top

3 comments on “We Will Scrap The Bond Note And Join The Rand Monetary Union Says MDC Alliance

  1. We should clearly explain to people what we mean about using the Rand of South Africa. We need somebody from the Ministry of Finance, shadow Minister, to explain to people what really happens to the money donated by other countries.
    It gives confidence to the people of Zimbabwe when such statements come from the money people themselves.

  2. its not possible to join the rand monetary union without having our own currency, The monetary sector is going down because of these experiments ,It will take time for the public to have confidence because it seems these are all try and error solutions

  3. That’s a pity a statement like that coming from a former Finance minister. I say, that would be a grave error adopting South African Money. Currently South Africa is having its own issues politically and economically. Corruption issues in South Africa which were adopted from Zimbabwe by Zimbabwean South Africans can still erode the system. Rather, for people who are familiar with South Africa would agree with me that South Africa is on its road to Zimbabwean situation, so, Minister Biti, we will be going forward in a backward way. Rather, lets going back to the US$ will give us liverage considering that we need extensive imports to rescusitate our industries and create new industries. US$ has worked tremendously for us, anybody can agree. Besides, we hedged our Bond Note on US$, isn’t it. Why would we risk adopting a lessor value currency. Mune Finance chaidzo here aBiti?

Write a Comment

Your email address will not be published.


Share Full Post

Nyaradzo logo

RSS Recent Profiles Created

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.