The Permanent Secretary in the Ministry of Finance and Economic Development, George Guvamatanga has said that he projects a situation whereby members of the public will favour new notes over bond notes. He said that there is a likelihood that bond notes will be returned to the banks although they will be holding the same value with the new notes which are yet to be introduced. Listen to the audio below in which he explains how the new notes will work.
Bond Notes and Bond coins will initially circulate alongside the new notes when they are introduced. Of course those hoarding the Bond Notes will hopefully offload them onto the market in preference to the new notes pic.twitter.com/ioRBpCHtML
— Nick Mangwana (@nickmangwana) November 1, 2019
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Guvamatanga – we are not bloody stupid like you! Give us proper money, $5, $20, $50 and $100 . WTF do we want $2 notes for? Just now, just now the wheels will finally fall off this place.
Demented zanuoids. The moment this money comes there will be a black market rate for bond, another for rtgs/ecocash transfer, and yet another for the new money. New dynamics, new headaches for Rbz. Question is do we really need this or its another tsotsi move by rbz in an attempt to steal the forex diasporian are sending to their relatives for xmas by injection more visible new money to increase money supply and kill the rate. Problema is the high food prices wil remain and the forex will be buying less. Chi govt ichi chakadhakwa