Chamisa says the bond note is going to disappear just like the Zimbabwe dollar

Movement for Democratic Change deputy President Nelson Chamisa says bond notes which were introduced towards the end of last year will disappear just like the Zimbabwe dollar because the fundamental issues that led to the demise of the Zimbabwe dollar have not been addressed.

“We see this bond note coming; again, it is going to go down the drain just the same way the ZIM dollar was actually affected because we have not addressed the real cause,” Chamisa told Parliament.

“We are students of the cause and effect, we just do not want to come here and now tinker on palliatives on peripherals and we look at cosmetic issues without addressing the core of the issue, the core of the matter which are issues of confidence, issues of governance, issues of making sure that we move away from certain fiscal conduct and fiscal behaviour that is not in line with what is expected of a modern economy.”

Chamisa said he was against the issue of withdrawal limits.

“Why should you limit the resources that I worked for?  If I have US$20 000 in the bank, let me have access to my US$20 000.  If I have US$40 000 in the bank, let me have access to my US$40 000.  Why should you make a way of limiting and controlling?

“Now, this is where we have a problem, Hon. Speaker Sir.  You cannot have command agriculture, command economy, command currency – everything you want to command.  There is a problem in commanding certain things.  The economy does not respect commandments of politicians or policy makers.  It respects commandments of the market, of course with the necessary State intervention.”

Full contribution:

HON. CHAMISA:  Thank you very much.  I rise to make a very short presentation.  I want to make a short presentation but just to take note of certain issues, bearing in mind the fact that it is already an afterthought to be debating this very important Bill.  I think as has been indicated by certain Hon. Members of Parliament, the bond is already out there.  What is important is to indicate that in future, let this be a lesson to our esteemed Government that at no time should we usurp the powers of Parliament.  At no time should we run away from constitutionally defined contours of law making.

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