There is panic among many Zimbabweans over the impending introduction of bond notes. There is now apprehension among depositors over their United States dollar balances in the banks.
By Pardon Makunike,Our Reader
Some people have been trying to empty their accounts in case bond notes would substitute the US dollars in circulation. Despite that, Reserve Bank of Zimbabwe governor John Mangudya reassured the nation that the multi-currency system would remain firmly in place.
Small-to-medium enterprises, especially those in the informal sector, where in most cases the float is not bankable, predict the development and promotion of the informal foreign currency exchange which will further melt down the economy.
No matter how much the central bank educates the public on how the bond note would work, the public has no faith on our economy. Rather, they believe that no one has ever predicted the correct outcome over the past two decades as this would also be as a result of ever-changing government economic policies.
Of course, there is lack of trust and confidence within our economic sector and the public already foresees danger.
Nevertheless, the central bank should take note of public concerns, fears, anxieties and scepticism over bond notes.
Also it should guarantee and assure exporters and importers of goods on the reliability of the use of plastic money anywhere in the world and/or at any given time.
