Chamisa to scrap bond notes

Chamisa to scrap bond notes
Published: 13 March 2018 (253 Views)
MDC Alliance presidential candidate Nelson Chamisa has said his administration will bring an end to cash shortages and scrap bond notes once elected into office.

He told a campaign rally in Victoria Falls last Friday that Zimbabwe's "bond note" currency - introduced by toppled despot Robert Mugabe's government in November 2016 as part of a desperate bid to stave off a cash flow crisis, have failed.

The bond notes are supposed to be traded 1 - 1 with the US dollar but are trading at anything up to 1-1,3.

Zimbabwe abandoned its own currency in 2008 and officially adopted a multi-currency system. But continued economic uncertainty led people to stash dollars outside the country, prompting a critical shortage.

"Zanu-PF should restore confidence and trust. We don't need 100 days; once we get into government the first thing to do will be to address the cash crisis. We will stop the bond notes and bring real money," he said.

Former Finance minister and MDC Alliance member Tendai Biti has also that Zimbabwe's "bond note" currency will be demonetised because "it has become an instrument of arbitrage."

- dailynews

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

VACANCY: ZANU PF recruits teachers

by Mandla Ndlovu | 13 December 2018 | 107 Views

'There will not be peace in Zimbabwe'

by Ndou Paul | 13 December 2018 | 114 Views

Zimbabwean woman busted with 7kg cocaine at Ghana Airport

by GhanaWeb | 13 December 2018 | 94 Views

'Tsvangirai was weak' says MDC leader

by Mandla Ndlovu | 13 December 2018 | 113 Views

Zimbabwe fuel situation dire

by Staff reporter | 13 December 2018 | 101 Views

Mthuli Ncube's Rand option dilemma as currency crisis worsens

by Staff reporter | 13 December 2018 | 102 Views

Zimbabwean youth dependent on parents till age of 30

by Xinhua | 13 December 2018 | 69 Views

Kazembe Kazembe's NGO threats barbaric

by Jacob Mafume, MDC National Spokesperson | 13 December 2018 | 77 Views

Mutambara missing the point on dialogue

by Jacob Mafume, MDC National Spokesperson | 13 December 2018 | 81 Views

PHOTOS: ZANU PF Youth leader Pupurai Togarepi involved in an accident

by Mandla Ndlovu | 13 December 2018 | 66 Views

Man found dead with private parts missing

by Staff reporter | 13 December 2018 | 94 Views

Kombi accident kills one, several injured

by Staff reporter | 13 December 2018 | 82 Views

Doctors, Apex Council reach consensus

by Staff reporter | 13 December 2018 | 92 Views

RBZ exposes Acie Lumumba's lies.

by Mandla Ndlovu | 13 December 2018 | 130 Views

'Slain' MDC councillor's family arrested

by Mandla Ndlovu | 13 December 2018 | 112 Views

Chamisa still in a state of denial

by Elijah Chihota | 13 December 2018 | 105 Views

BREAKING: Chivayo wins $25 million lawsuit againt ZPC

by Mandla Ndlovu | 13 December 2018 | 129 Views

The Historian Orator - Mr Muso

by Brian Maregedze | 13 December 2018 | 100 Views

Zim Judiciary and the 'Rule of law' Doctrine

by Walter Nyabadza | 13 December 2018 | 92 Views

National hero's son blasts Western Union

by Mandla Ndlovu | 13 December 2018 | 100 Views

MDC leader recognises Mnangagwa as President

by Mandla Ndlovu | 13 December 2018 | 173 Views

Infrastructure, Education and Technology key for growth

by ViewsFromMatopos | 13 December 2018 | 105 Views

The day MDC legislators were paid in own coin

by Nobleman Runyanga | 13 December 2018 | 121 Views

CIOs stressing over Mnangagwa's safety

by Staff reporter | 13 December 2018 | 157 Views

Mugabe ally given up to Dec 31 to pay $110,000

by Staff reporter | 13 December 2018 | 101 Views

We are our own enemies not politics

by Munya Shumba | 13 December 2018 | 114 Views

Mutumwa Mawere was a ZANU PF front?

by Mandla Ndlovu | 13 December 2018 | 115 Views

PHOTOS: Women donate grocery to Prophet Magaya

by Mandla Ndlovu | 13 December 2018 | 129 Views

Countrywide demos over school uniforms

by Mandla Ndlovu | 13 December 2018 | 136 Views

Yes to dialogue, no to GNU!

by Faith Hope | 13 December 2018 | 121 Views

Air Zimbabwe trolls Fastjet

by ZimLive | 13 December 2018 | 144 Views

Arrest the Passengers as well!

by Sam Wezhira | 13 December 2018 | 165 Views

Chamisa opens up on GNU talks with Mnangagwa

by Mandla Ndlovu | 13 December 2018 | 183 Views

War Veterans now Hated like Armed Robbers in Zimbabwe

by Multiverse Dungani | 13 December 2018 | 135 Views

Underestimated Way to Success

by Brian Maregedze | 13 December 2018 | 117 Views