I Printed Zim Dollar To Stop A Coup Says Gideon Gono

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Former Reserve Bank of Zimbabwe governor Gideon Gono told The Standard he had to print money even when he knew it would cause hyperinflation because the government was desperate to prevent a coup by hungry soldiers.

He said the soldiers were willing to stage a coup to get food. Said Gono:

If we had not done what we did printing money and allowing inflation to skyrocket, then the men and women you see in those beautiful uniforms, they were ready to get out of their barracks. Operation Restore Legacy would have happened much earlier, but not one that we would have been commanding ourselves. It would have been a ‘restore legacy’ that would have been commanded from elsewhere.

More: Standard

Gideon GonoOperation Restore LegacyReserve Bank of Zimbabwe

Gideon Gono is the former Governor of the Reserve Bank of Zimbabwe (RBZ) a position he was in from 2003 to 2013. He is also former CEO of the CBZ Holdings, formerly known as the Commercial Bank of Zimbabwe, and Jewel Bank. Gono is known... Read More About Gideon Gono

Operation Restore Legacy is a military operation which triggered the demise of Robert Mugabe who had been the sole leader of Zimbabwe for thirty-seven years since the country attained independence.The operation attracted a lot scrutiny, locally, regionally and Internationally.The Military claimed it was not a... Read More About Operation Restore Legacy

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

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6 comments

  1. Jimalo Jonki Reply

    How convenient he printed zimkwacha dollars and yet he helped Grace and Bob to siphon and spirit away the Peoples hard earned US dollars. No wonder why some of Mugabe’s riches are untraceable this man belongs in Prison. He is Grace and Bobs Trump card after all he was made Governor of a reserve bank even though he was not an Economist CIS and banking experience what a joke he messed up our economy big TIME I think he should just shut up

  2. Ranje Shing Reply

    Gideon Gono you are a wicked liar.
    when we had millions your Financial Intelligence were putting deposits on housing hotels vehicles companies blocks of flats and properties, to pay if off you pushed up the inflation to Billions and Trillions just by printing more money to meet the payments, then when all your cronies were happy with what they had now all paid off, you closed the ZW$ accounts and opened the US$ accounts making all your cronies filthy rich, you Head of the Financial intelligence bought a gold mine in Kwekwe and registered it in Chiremba’s name not in RBZ ownership CARSLONE ENTERPRISES

  3. Chamunorwa Mabhunu Reply

    Zimbabwe’s real governors were Tshumba and Moyana. Gono had no clue and was not qualified to be a governnor. He was just a pseudo economist. How can a professional economist do what he did?

  4. Ranje Shing Reply

    WHAT A LIAR GONO IS and he is facing trial in the World Court soon to be issued with a warrant – you printed cash to buy unlimited properties businesses gold mine – vehicles in fact anything you could get you hands on – when it was in millions you paid deposits pushed up the dollars to billions and trillions paid it all off and then changed to US$ now filthy rich

  5. godfrey chikowore Reply

    Just read well the sentiments driving printing of ZimDollar…..So to avert a coup….the Governors must commit a monumental historical error of driving once great Zimbabwe Economy and Proud Nation irrecoverably into the ground?

  6. Jenifer Tavengerwei Reply

    Gideon you think you can cleanse yourself so easily with such naked dirty lies. Had you forgotten about professionalism, surely you compromised your professional even personal image. Your statement tarnishes and disgraces you, you sank so low in the name of averting a coup, God help us, such personalities are trusted to lead the nation and take custodianship of some of the highest offices of the land. You are better quiet if this is what opening your mouth means.

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