Mangudya full statement on the introduction of bond notes


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Zimbabwe will introduce local bond notes which the main opposition Movement for Democratic Change led by Morgan Tsvangirai today condemned as an attempt to bring back the Zimbabwe dollar through the back door and warned that the country could plunge to the days of hyper inflation.

Zimbabwe reached record inflation in 2008 when prices doubled every 24.7 hours making it the second highest inflation in history.

Hungary held the record, but this was way back in 1946, when prices doubled every 15 hours.

Here is why central bank Here is governor John Mangudya introduced the bond notes.

Mangudya statement 4 May 2016

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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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