Take RBZ To Court For Devaluing Bond Notes, RTGS- Global Economist Hanke

Global economist Professor Steve Hanke has said Zimbabwe has committed highway robbery after devaluing bond notes and RTGS in Wednesday’s monetary policy presentation.

Hanke said the Reserve Bank of Zimbabwe (RBZ) should be prosecuted for issuing bond notes and RTGS at par to the US dollar and then devaluing them. Speaking on Twitter, Hanke said:

By issuing bond notes and RTGS at par to the USD and then devaluing them, Zimbabwe has committed highway robbery of its citizens. There is no reason for citizens to trust the RBZ. It has a long record of thievery. Time to prosecute.


Related:

RTGS DollarsReserve Bank of ZimbabweJohn Mangudya

Zimbabwe RTGS Dollars are a Zimbabwean currency introduced on 20 February 2019 by the Reserve Bank of Zimbabwe. At introduction, the currency consisted of existing RTGS balances in bank accounts, Bond Notes cash and Bond Coins. The introduction of the RTGS Dollars was announced by... Read More About RTGS Dollars

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

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

2 comments

  1. Georgina Reply

    People salaries are pegged in USD is the gvt going to adjust in line with the new rates?? Of which it should have done so long bck anyway. Now its official the civil servant earn about USD100.

  2. godfrey chikowore Reply

    on a logic of historical human centred justice not only the RBZ but the government of Zimbabwe both the first and second republic owes Zimbabwe and Zimbabweans an answer as to why it lead the nation into abject poverty and unbridled suffering infested by shameless elements of corruption.

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