Zimbabwe

How do fake #BondNotes hit the market before introduction?, Zimbabweans ask

2016-11-05 09:34

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Zim opposition in anti-Mugabe coalition talks
Zim opposition in anti-Mugabe coalition talks

Zimbabwe's opposition is talking up an anti-Robert Mugabe coalition for the 2018 elections but differences over strategies and implementation are threatening the establishment of such an electoral alliance.

Harare – Zimbabweans have taken to social media to express their concern over reports that "unscrupulous characters have started printing fake bond notes which they plan to release when the real bond notes are injected into the economy".

The state-owned Chronicle newspaper quoted Finance Minister Patrick Chinamasa as saying that some Zimbabweans were already printing fake bond notes even though the "real things" had not been put into circulation yet.

"You may not be aware of this but fake bond notes have been printed to coincide with our release in order to confuse the situation," Chinamasa was quoted as saying.

If true, the report will do nothing to shore up confidence in the about-to-be introduced bond notes, which are supposed to be surrogates for the US dollar in the cash-strapped country. Most believe the notes will fuel hyperinflation and take Zimbabwe back to the shortage-riddled days of the pre-2008 crisis.  

Social media platform Twitter went abuzz on Friday, with people blasting both the country's central bank governor John Mangudya and Chinamasa. They expressed their concern over the safety of the bond notes. 

See the tweets below. 

Zimbabwe has, in recent months, been hit by a wave of protests, as Zimbabweans demanded that the government act on the ongoing economic hardships, as well as rapid corruption.



Read more on:    john mangudya  |  patrick chinamasa  |  zimbabwe  |  southern africa

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