Speaking to the Zimbabwe Broadcasting Corporation (ZBC) on Monday, Eddie Cross said the bond note is the strongest currency in the SADC region.
Cross said the rate of the bond note shows the underlying strength of the Zimbabwean economy. Said Cross:
The underlying economy actually is fine, it’s growing, exports are growing and the fundamentals are strong and this was reflected by the fact that by Christmas the rate to the RTGS (Real Time Gross Settlement) dollar had come down to 2,83.Now at 2,83 everybody has got to understand that the bond note is the strongest currency in the SADC region, because it is a currency, and this indicates the underlying strength of the Zimbabwe economy despite the problems.
Real-time Gross Settlement (RTGS) is a fund transfer system where the transfer of money takes place from one bank to any other bank on a "real time" and on a gross basis. Settlement in "real time" means a payment transaction is not subjected to any... Read More About RTGS
Edward Graham Cross (born 1940) is a prominent Zimbabwean economist and politician. He is the current member of parliament for Bulawayo South. He is also a founding member of the Morgan Tsvangirai led Movement for Democratic Change (MDC-T). Read More About Eddie Cross