Zimbabwe

WATCH: Zim's bond note in 'conversation' with US dollar

2016-11-19 14:00

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Harare - Zimbabweans have shared a video on social media showing a US dollar note in "conversation" with the bond note, a surrogate currency set to be introduced next month to ease a chronic cash shortage in the southern African country. 

According to BBC, the video was made available on social media ahead of protests that had been planned for Friday against the bond notes. 

In the video, the US dollar is heard asking the surrogate currency who it is, and why it is telling people that "we are similar".  

In response the bond note says it was told by its father [central bank governor John Mangudya] that they are the same as their value is 1:1.  

However, the US dollar tells the bond note that this is impossible, as it (bond note) is not able to trade outside of Zimbabwe.

Watch the video below.

The new notes, starting with small denominations of $2 and $5, are expected to be introduced next month. 

Reports indicate that Zimbabweans, who know the risks of worthless money all too well after hyperinflation between 2007 and 2009 gave them the 100-trillion-dollar banknote that barely bought a loaf of bread, are against the introduction of the bond notes.

They fear that the government is about to create another devastating crisis by printing its own "bond notes" that will officially be worth the same as the US dollar.


Read more on:    robert mugabe  |  zimbabwe  |  zimbabwe protests  |  southern africa

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