HomeLocal NewsNo plans to introduce higher bond notes: RBZ

No plans to introduce higher bond notes: RBZ

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The Reserve Bank of Zimbabwe (RBZ) has no plans of introducing higher-denominated bond notes, it said last night, as it moves to restore confidence following social media reports on the “intended measures”.

by staff reporter

Social media had been awash with news that RBZ wanted to introduce more bond notes in $10, $20 and $50 denominations to ease the cash crisis gripping the nation and would prohibit the use of MasterCard and Visa Card outside the country. RBZ was also said to have rapped government departments over their failure to bank cash.

“The bank dismisses the statements in their entirety as false, irresponsible, mischievous and malicious as neither the governor nor any officer of the bank has held any Press briefing or made the statements as alleged,” RBZ governor John Mangudya said yesterday, adding the statements were dangerous and calculated to cause unnecessary anxiety, panic, alarm and despondency within the economy.

Mangudya said the statements were also calculated to discredit government and the “bank’s progressive efforts to stabilise the economy and fuel chaos in the economy by targeting the sensitive financial sector”.

“The indiscipline and power of negativity which has crept in our economy should be converted and redirected to productive use for economic transformation,” he said.

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