Zvimba West Member of Parliament Ziyambi Ziyambi has welcomed the introduction of bonds notes and says the government should just tell the people “this is our currency”.
He said even advertisements by the central bank should reflect that bond notes are now our currency.
“The moment that we start using these superlatives that this is for exporters and so on, my grandmother who is in the rural areas will not understand it,” he said in his contribution to the second reading of the Reserve Bank of Zimbabwe Amendment Bill which seeks to regularize bond notes.
“When you then try to give them that money, you confuse them. So let us tell people this is our currency and we are trying to rectify the situation. We applaud the Minister for that. I also think we need a situation where we have to move away from this export incentive idea and we gather those exporters and give them this message, it will be helpful to the country.”
Movement for Democratic Change Shadow Minister for Finance Tapiwa Mashakada said the bond notes were Zimbabwe dollars and not an export incentive as originally announced because the bill was silent on the export incentive.
Ziyambi, however, argued that Finance Minister Patrick Chinamasa was simply trying to rectify a situation where it was almost like a free for all.
“I would like to also say we need a lot of controls. If you go to other countries and you want to withdraw maybe $10 000, you are given a nice seat and a cup of coffee while they verify why you want such a huge amount of money.
“In this country, when we dollarized, you could walk into the bank and withdraw $100 000 with no questions asked and that bled the country. I therefore implore the Minister to look into all those issues so that we have the foreign currency that we need to buy those things that we do not have, the things that are critical for the functioning of the country and remove all the leakages that have been there.”
Full contribution:
HON. ZIYAMBI: Thank you Mr. Speaker Sir. I rise to add my voice on the Reserve Bank Amendment Bill. I would like to thank the Hon. Minister for bringing the Bill to Parliament, for rectifying a situation that has been left unattended to since dollarisation. When I came to this House, I brought a few United States dollars for the House to see.
Hon. Ziyambi showed the House the few dollars.
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