#MondayBlues: Are The Bond Notes For Export Incentive Or Cash Crisis

It’s a black #MondayBlues, I know we have expressed our reservation against the bond note and it remains our constitutional privilege  to air our views and a mandate to update the nation on the facts around the truth, no matter how ugly it may sound, its always better than the lie.

 

#MondayBlues, strongly thinks that while the reasons for having the bond notes are good on paper, the motive is much more subtle and evil, as it does not consider the real effects of such a move except for selfish reason.

The RBZ’s judgement has become clouded by the success of bond coins, and simply thinks that if the bond coin worked, the bond note will equally work as well, however this is just not true.

The bond coin was only lucky the rand was falling when it was introduced and people could have used a ticket system or anything including a bond note to keep continuous change running to split a dollar.

Of course only time will tell, and when this happens, history shall know and remember that we did our part to serve the nation as responsible journalists who advocate for ethical policies.

 

newly introduced Zimbabwe bond notes
newly introduced Zimbabwe bond notes

 

Zimbabweans do not need the bond notes, the government does, we never called for them, and they are not serving any purpose to rescue the sinking the economy, but in fact will only fuel our demise.

 

The real reason why we have bond notes is solve the cash crisis, not to incentivize the exporters. This is the ugly truth that we need to deal with first.

 

Why is the RBZ giving all our banks the bond notes to serve us when we are not exporters? If this was a reward for exporters then those who are exporting should bring the bond notes to the markets as their personal reward, not the current status quo.

The bond note is simply supposed to serve as temporary currency to serve the masses, because the truth be told there is no real cash in Zimbabwean economy. The RBZ wiped the Nostro accounts and now it is fire fighting to settle the imbalance.

 

 

 

As banks and millions of salaried employees continuously demand their hard earned incomes, the RBZ is squeezed to fund against the fake RTGS bank balance with real currency, which unfortunately it can no longer contain.

The only way out for the RBZ is to maintain a non-hostile relationship with the banks to give them something against their real money transfers they have made, because of the daily demands.

Most banks to date are now directly buying foreign currency at an average 10% since the RBZ has failed to fully supply the daily needs .

 

The real issue here is we need to openly tell Zimbabweans why we have the bond notes and the purpose they are serving. This is important to allow the masses to understand what kind of a problem they face.

 

 

 

 

 

 

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