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Zimbabwe new monetary measures: Living a lie, face collapse

Zimbabwe new monetary measures: Living a lie, face collapse

Dollarisation is a simple monetary arrangement which the political classes have contrived to misunderstand, and consequently, Zimbabwe, which never actually completed the process of dollarisation, unwittingly abandoned it and in its place brought about what I term a “dollar-exchange regime”. So deep-seated is the misunderstanding of dollarisation, there is the absence of an awareness of […]

US Dollars And Bond Notes/RTGS Are No Longer The Same

US Dollars And Bond Notes/RTGS Are No Longer The Same

The major highlight of today’s monetary policy statement was the directive that banks must now separate the Nostro foreign accounts and local RTGS or Bond with effect from 15 October 2018. advertisement What it means This means that officially Zimbabwe has two currencies, that’s US dollars and RTGS/Bond. Consequently, banks will allow depositors to hold […]

Newly introduced Zim Bond notes also vanish

Newly introduced Zim Bond notes also vanish

There are fresh fears that the country’s dying economy is hurtling towards the debilitating depths of the 2008 hyperinflationary era, as bond notes are now also disappearing from the market. This comes as United States dollars have almost completely disappeared from the formal market — with the coveted greenbacks now only easily available in the […]

Zimbabwe Central Bank Governor Mangudya: ‘We messed up’

Zimbabwe Central Bank Governor Mangudya: ‘We messed up’

Zimbabwe’s Reserve Bank Governor John Panonetsa Mangudya openly admits the country messed up in 2008 when it dollarised, which led to hyperinflation. Now, he’s trying to right the economy, by introducing new bond notes – notes that the general public are not too keen on. However, Mangudya hopes by introducing the notes, cash flow will […]

Flamboyant Prophet Uebert Angel back in Zimbabwe, mocks bond notes

Flamboyant Prophet Uebert Angel back in Zimbabwe, mocks bond notes

Flamboyant preacher Uebert Angel, born Uebert Mudzanire, says Zimbabwe’s dying economy will soon thrive again — going on to pooh-pooh bond notes which were introduced by President Robert Mugabe’s stone-broke government late last year to mitigate the country’s worsening cash crisis. Well-known for his opulent lifestyle, the preacher — who was in the company of […]

Bond notes not solution to Zim’s problems: RBZ

Bond notes not solution to Zim’s problems: RBZ

Senior consultant and economist Ashok Chakravati makes a presentation at the Bond Notes 100 days review organised by the Confederation of Zimbabwe Retailers at Rainbow Towers Hotel in the capital yesterday THE Reserve Bank of Zimbabwe (RBZ) says bond notes were a temporary measure and the solution to the country’s problems lies in production. Speaking […]

Zimbabwe ‘funny money’ bond notes now a collector’s item on eBay

Zimbabwe ‘funny money’ bond notes now a collector’s item on eBay

HANG your heads in shame, all you haters that have mocked Zimbabwe’s bond note and doubted its value. Not only has the bond note maintained its value, against all expectations, it is now more valuable than the US dollar. Well, at least on eBay, the online auction site. For up to US$7, you can now […]

Has Mugabe Switched On The Money Printing Machine?

Has Mugabe Switched On The Money Printing Machine?

The introduction of a new 5-dollar bond note reminds Zimbabweans of the last time they had a currency of their own, whose biggest denomination was a U.S.$100 trillion note that wasn’t enough to buy a loaf of bread. Many ordinary people fear the bond notes may lose value if President Robert Mugabe’s government prints more. […]

Bond notes: The making of an ignoramus

Bond notes: The making of an ignoramus

Did you know that you are facing the biggest scam any Zimbabwean has ever endured? Yes, while you sit there, a scam much bigger in scale than the 2000-2008 heist when the government mafia plundered all national reserves, including pillaging private foreign accounts is in the works! For the avoidance of doubt, walk back in […]

Clients Sleep in Bank Queues As Bond Notes Beckon

Clients Sleep in Bank Queues As Bond Notes Beckon

For months, the introduction of bond notes as a measure to curtail the cash shortages seemed to be the usual empty talk by a cornered government. Without a consensus among government officials and financial experts on whether or not the bond notes would be good for Zimbabwe’s ailing economy, and with civic groups strongly opposing […]

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