The Reserve Bank of Zimbabwe is set to print $400 million dollars (bond notes) to be pumped into the economy following the re-introduction of the Zimbabwe Dollar on Tuesday through the promulgation of Statutory Instrument 242 of 2019. A report by New Zimbabwe says:
About 400 million bond notes are expected to hit the market with Mangudya assuring the nation that the central bank will keep the printing machine to a level that will not cause devaluation.
More to follow…
Yup, that is the only reason the government is so adamant about having “our” own currency, they want to print themselves out of debt (or is it into wealth?) at the expense of the citizens, “They wont print enough to cause it to devalue”, sure sure, they would never do anything to make us suffer, they would never let corruption run rampant, they would never turn a USD$ bank account into an RTGS$ account instantly devaluing balances drastically, they would never to anything to make the people in the country suffer, they promise!
In principle it is a good move having introduced the monetary policy. Hope this will not lead to a lot of money in circulation which will cauce push inflation. However the central bank may have allowed this move so that the inflationary pressures will lead to a value of Zim dollar having not had any currency for almost a decade its quite a huge stride towards the country having its currency. Its high time the banks play a major role and provide inter bank rates that will supress the black market.