RBZ Responsible For Economic Crisis, They Printed Bond Notes Worth Over 1 Billion – Zanu-PF Official

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Zanu PF Midlands provincial spokesperson Cornelia Mupereri has distanced the party from the economic crisis and laid the full blame on the Reserve Bank of Zimbabwe (RBZ). Mupereri said that the party had made the decision to supervise the government after noting that the central bank had abused bond notes by printing well over a billion dollars worth. When the notes were introduced, the RBZ and the government claimed that only $200 million would be printed.

Speaking at a Zimbabwe Union of Journalists (ZUJ) discussion last Friday, Mupereri said

We were told that RBZ was only going to print bond notes worth only $200 million because that was the amount of money in United States dollars that backed the notes as bond. However, from the intelligence the party has gathered, we hear they have printed over one billion…So, what we are saying is that as Zanu PF, we have resolved that henceforth we will be supervising government. We will be summoning top government officials to come and explain their activities to us at the party level.

When asked to comment, Mangudya denied the allegations and told The Standard not to publish the story.

Your headlines are not progressive. We are trying to stabilise the market and we do not want such things published.

The party has also previously blamed the opposition MDC of sabotaging the economy to force a government of national unity (GNU) although MDC leader Nelson Chamisa has repeatedly said that his party is not interested in a compromise deal.

More: The Standard

Bond NotesGovernment of National Unity

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 Government of National Unity was a coalition government between the three major political parties in Zimbabwe formed on 13 February 2009 after the signing of the Global Political Agreement. Read More About Government of National Unity

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3 comments

  1. Welcome Phineas Lugube Reply

    I agree with Cde Mupereri we have noticed with surprise continued supply of new bond notes and we often wonder whether or not RBZ is involved in fueling black market forex deals

  2. Welcome Phineas Lugube Reply

    Illegal Forex dealers should be jailed especially those who have inflated their bank accounts without businesses or any meaningful employment. Banks should assist in this regard because they monitor all depositors’ accounts.

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