Chinamasa says Zimbabwe bond notes will only be released after publicity campaign

A bond note unit will trade at par with one US dollar, according to a government notice issued late yesterday. The notice did not say when the notes will be brought into circulation.

“When the Reserve Bank of Zimbabwe is satisfied that the public is sufficiently conversant with the salient features of the Bond Notes, it will proceed to issue the Bond Notes accordingly in line with the Export Incentive Scheme,” said Chinamasa in a statement released along with the government notice announcing the bond notes as legal tender.

The scheme, added Chinamasa, will “remedy the decline of (foreign currency) reserves which has a negative impact on the country’s ability to make prompt settlements of its international obligations.”

Central bank spokesperson, Isaac Muzambi today said that governor, John Mangudya had set a timetable for the release of the bond notes.

“I think the governor has a date and will announce it in due course,” he said.

“We would want more people at least to have basic information about the bond notes. So the publicity campaign is going to cover that and also the statutory instrument gives us the legal basis to do that.”-The Source

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