RBZ to start countrywide Bond Notes awareness campaigns on October 31

7 years agoMon, 24 Oct 2016 00:23:24 GMT
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RBZ to start countrywide Bond Notes awareness campaigns on October 31

Speaking at a luncheon organised by the St Luke Anglican Church in Greendale, Reserve Bank of Zimbabwe governor Dr John Mangudya, yesterday said that massive countrywide awareness campaigns on bond notes are expected to start on October 31. The bond notes with a value of $75 million, will be introduced in $2 and $5 denominations.

Dr Mangudya said there was no way the Government would become careless to the extent of printing a lot of money as it was aware of the consequences and that the printing will be controlled to avoid inflation adding the bigger notes would be in US dollars.

He said the RBZ was in the process of importing more US dollars, but warned the people not to abuse the money,

During the past two weeks we have been securing money and it is coming but do not abuse it. We can use plastic money for some transactions. The problem is that we are now addicted to the US dollar. People also smuggle minerals. We need to increase production by coming up with good investment policies and then we can boost productivity.

Mangudya however said it was still impossible to bring back the Zimdollar because the  conditions were not conducive for such action.

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