When Will The Zimbabwean Govt Admit The Bond Notes Have Flopped?

The central bank has urged for the replacement of the U.S. dollar with the South African rand as the country's main currency. The shortage of U.S. dollars forced the government to introduce the local  bond notes giving it the same value as the U.S. dollar. The surrogate currency, however, has not been able to address the country's cash crisis.
THE shortage of US dollars besetting the economy has reignited debate on whether Zimbabwe should adopt the rand, as it emerged that cash in circulation was only $202 million against requirement of nearly a billion dollars.The debate is premised on the understanding that Zimbabwe, with a weak export generating capacity due to low production across all majors sectors, cannot thrive under a currency sought after globally that is being externalised legally and illegally.


Reserve Bank of Zimbabwe deputy Governor Kupukile Mlambo told a breakfast meeting last week that, while the bond notes have been a success, the value that the RBZ can print was too low to resolve the country's acute cash shortage.

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