Chinotimba says give people bond coins if they do not like bond notes


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makosi-meets-chinotimba

Buhera South Member of Parliament Joseph Chinotimba asked Finance Minister Patrick Chinamasa last week why he did not simply introduce bond coins, even $100 coins, if people did not like bond notes because they had already accepted bond coins.

Chinamasa, however, did not reply to the question after Speaker Jacob Mudenda ruled that Chinotimba’s question was not a supplementary one.

Zimbabwe has been bogged down by the question of bond notes since Central Bank governor John Mangudya mooted that the country might introduce them in two or so months to ease the cash shortages.

People have expressed fears that the introduction of bond notes is akin to reintroducing the Zimbabwe dollar through the back door and fear that this could plunge the country back to hyperinflation.

Question:

HON. CHINOTIMBA: My question to Hon. Chinamasa is, is it possible for him to coin the bond notes so that we have $1, $5 or $10 bond coin because we have noticed that the people are not interested in bond notes but they would rather have bond coins – [HON. MEMBERS: Inaudible interjections.] – So, if we could have bond coins in various denominations, people will be very happy. The Minister of Finance and Economic Development and the Reserve Bank Governor should be looking at making $20, $50 and $100 bond coins and people will be very happy because they will have been given the monies they want, bond coins not bond notes.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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