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.
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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 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