Government has dismissed claims that bond notes will soon be phased out, saying there are lot of fundamentals that need to be put in place before the country can do away with the surrogate currency, introduced in 2016 to contain a threatening cash crisis.
This follows the publication of a story in the local media that bond notes cannot be maintained and will be phased out.
Addressing the Zimbabwe’s New Economic trajectory renaissance and growth breakfast meeting held in the capital on Wednesday, Minister of Finance and Economic Planning, Patrick Chinamasa dispelled the talk of bond notes return saying there are fundamental issues that need to be put in place before the surrogate currency can be phased out.
“We reflect to conflicting statements when we read the article and posters about bond notes, l think there is injustice because my deputy did not say that bond notes are going away even in his own article.
“That is a sort of negativity that will not take us anywhere. In fact why did the paper interview my deputy Minister when l was available,” fumed Chimanasa.
He added that government position is to address budget deficit, issues of exports and building of foreign currency reserves before the country can think of doing away with bond notes.
“The governor and my self have spelled out the micro economic fundamentals that needs to be put before we can erode bond notes .We need to address the budget deficit,issue of exports,building foreign currency reserves of at least three months .
“We need to address the issues of low production and this is why we are coming up with intensive proposals to intensive production . In this regard l urge all Zimbabweans not look at the negative side and that we must not be mislead by information circulating on social media
“As Zimbabweans we are intelligent enough between true and false information and l want to call for far reporting on all newspapers ,” said Chinamasa.
