I Will Not Resign, Bond Notes Have Been Successful As An Export Incentive: Mangudya

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Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said he will not resign because the bond notes have not yet failed.

Mangudya said bond notes have managed to increase exports by 35 percent in 2017 and 36 percent in the first six months of this year. Said Mangudya:

Yes, I said if the bond note fails as an export incentive, then I will resign when I was asked the question by a reporter from the Sunday News of Bulawayo at the introduction of the export incentive scheme. Evidence on the ground shows that the export incentive scheme paid out in bond notes has been very successful. Exports grew by 35 percent in 2017 and by 36 percent during the first six months of this year. Tobacco, for example, at 250 million kilogrammes produced this year, is the highest ever produced in Zimbabwe, gold at 28 tons during the first nine months of this year is the highest ever produced in Zimbabwe over the same period. The same is true for the manufacturing sector, where a number of firms have increased exports. The success of bond notes as an export incentive is therefore evidence-based and that’s the reason I did not resign.


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Bond NotesJohn MangudyaReserve Bank of 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

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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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2 comments

  1. Mimi Reply

    Why would you resign when you sit on the board of Afreximbank?!?!?!
    Its just a phone call away, until you learn that you will always be a slave to the lender, we are in deep trouble as long as you see nothing wrong with bond rates.

  2. Taps Reply

    Mangudya must not hide behind a finger, Bond is our Zim currency and has failed o maintain it’s 1:1 thing. Just GO! Just leave us loser.

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