Zim dollar not returning anytime soon

Despite all that the government is saying, Bond notes are effectively the Zim Dollar returned, and they are going to spell trouble for ordinary Zimbabweans. Wether we like it or not, we are headed for 2008 again. Here are the real facts about the 'zombie money'

Government has allayed fears of an immediate return of the Zimbabwean dollar. President Emmerson  Mnangagwa gave the assurance during an official state visit to Namibia where he met President Hage Geingob in Windhoek.

Mnangagwa briefed his counterpart on the state of affairs in Zimbabwe and the direction his government will be taking.

“We are not getting a new currency as far as I know. I don’t know where those rumours are coming from but they are unfounded,” he said

Rumours of an imminent return of the Zim dollar swirled after a Sunday Mail headline which read “Bond Notes to be phased out”

President Mnangagwa went on to say as a government they are working towards getting a Zimbabwean currency in the future as they will not consider adopting the South African Rand.

It has been a year since the Reserve bank of Zimbabwe introduced the bond notes as an export incentive meant to boost foreign currency generation.

Cash shortages have persisted, while the country’s central bank blames businesses who do not bank cash for the shortages.

Some sections of business have been calling for the adoption of the rand to ease cash and foreign currency shortages.