‘Mangudya should resign over failed bond notes’

OPPOSITION parties and civic society groups have called on Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to honour his promise and step down over bond notes’ failure to abate the country’s liquidity crunch.

BY SILAS NKALA

Mangudya, when he introduced the bond notes last November, promised to resign from his post as governor of the central bank if the surrogate currency failed to mitigate the liquidity crisis in the country.

MDC spokesperson Kurauone Chihwayi yesterday challenged Mangudya to live by his word and resign, as bond notes have failed to stem the cash crisis as envisaged.

He said, instead, bond notes had fuelled a lot of problems for citizens, who are now sleeping in bank queues to get cash.
“We ask Mangudya to honour his promise since the surrogate currency is rapidly losing value within a year of its existence in the market,” Chihwayi said.

“The sharp decline in value of bond notes is giving rise to a parallel market, which has resulted in a hike in prices of basic commodities among other goods, a situation similar to the one we witnessed during the 2007-2008 era.

“Zimbabweans cannot be subjected to such a nightmare once more.

Hence, we demand the immediate resignation of the RBZ governor.

Millions of Zimbabweans continue to suffer under the harsh economic crisis, as solutions to those problems remain elusive, with the governor seemingly having completely run out of ideas.”

Ibhetshu LikaZulu secretary-general Mbuso Fuzwayo said: “Zimbabwe is a cursed nation because those whom we have entrusted with governance are comedians. Here, no one has ever resigned for failing. They don’t care. (President Robert) Mugabe can’t allow him (Mangudya) to resign.”

People’s Democratic Party Bulawayo organiser Bekithemba Nyathi said Mangudya was just a symptom of a failed system.

“President Robert Mugabe and his entire apologists must resign to save the country,” he said.

MDC-T Bulawayo spokesperson Felix Magalela Sibanda said: “It was predictable from the outset that the bond syndrome was bound to fail.”

This Constitution leader Abigale Mupambi said no economic measure taken and implemented would work as long as there was this crisis of confidence and legitimacy.

“Mangudya’s demise, however how much it may be welcome and celebrated, will not mend the economy as long as the same failed system remains,” she said.

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11 Comments

  1. Mangudya is a dubious figure he knew that the bond note would trigger inflation, he went against research and advise and choose to make use of abusing the law via use of emergency power to force bonds on citizens. We were all like fools when he choose to side with those in unlimitted power, to further prove that he is dubious he will not resign

    1. Z$ UNDERCOVER !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  2. Sure he must resign. How can he castigate people for wanting to withdraw their hard earned cash telling them they do not have the right to cash.
    If you show such stupidity only to try and cover for your failures then certainly YOU MUST RESIGN John!

  3. when a gvt cant pay it’s national debt (caused by gvt overspending more than it makes) they can chose to 1) print their way out or 2) default on repaying the national debt

    option 1 delays the onset of chaos as hyperinflation does it’s thing in the next month or two until the next gvt is put into power but seeing that Zim knows no such thing (i.e. a next gvt or different president, etc) am not sure on the logic selecting this one
    option 2 will see the immediate collapse of all sectors and a shutdown of the economy, that Evans Mawarire would be proud of

    Take ur pick

    by the way mangudya cant resign he was appointed by mugarbage so he only leaves when he’s told to do so.
    gono is back on the Special Economic Zones crap so it’s horse sh*t all over again. Recycle & shuffle the compost heap mr president, shuffle it good.

    1. MR GONO YOU ARE BACK !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  4. Did he say a horse (USD) is equal to a donkey(bond naught)?

  5. It reminds me the jingle, mabond notes eee,bond notes eee.Sure this man is crazy.Where in the world has an economony performed better through ordinary’s citizen faith command and a corrupt government.

    1. EVEN “m” ADMITS IT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  6. It reminds me the jingle, mabond notes eee,bond notes eee.Sure this man is crazy.Where in the world has an economy performed better through ordinary’s citizen faith command and a corrupt government.

  7. Nothing is going to change in Zimbabwe as long as the majority accept it.We are like the lost Malaysian plane ,headed in a crisis direction.A point of no return.No change in mind set no different way of doing things in a honest and transparent way.Good luck to Zimbabweans in the next few months ahead before a election that is altready looking rigged.As if this is going to help.Will put the cream and cherry on the cake for a complete failed state.

  8. Mangudya, yu can now safely resign now, one year later , your ‘funny money’ has failed

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