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Zimbabweans Express Skepticism Over Special Bond Coins

  • Gibbs Dube

Several business executives and informal traders in Bulawayo, Harare and Gweru told Studio 7 they will reject the $10 million bond coins.

Several business executives and informal traders in Bulawayo, Harare and Gweru told Studio 7 they will reject the $10 million bond coins.

Some businesspeople and informal traders say they are skeptical about the introduction of special bond coins into the money market tomorrow, claiming that the government is bringing back the defunct Zimbabwe dollar through the back door.

Several business executives and informal traders in Bulawayo, Harare and Gweru told Studio 7 they will reject the $10 million bond coins, even if they are valued at par with the United States coins.

Oneof them, Edward Manning of the Zimbabwe Chamber of Informal Economies Associations, said the central bank should brace for a massive rejection of the coins designed to ease problems of change.

Bulawayo businessman Sam Ncube says the coins remind local people of the defunct Zimbabwe dollar, which was abandoned in 2009 due to historic hyper-inflation in the country.

Banker and independent economist James Wade says the coins will ultimately be accepted by Zimbabweans though they are currently creating a lot of anxiety in the country.

Governor of the Reserve Bank of Zimbabwe John Mangudya was not immediately available for comment. The coins, printed in South Africa, will only be available locally.

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