Zimbabwe: Erich Bloch - Give Bonds Prescribed Asset Status

LAST week the Reserve Bank of Zimbabwe (RBZ) announced that the Special Tradable Gold Bonds, which were due to mature on Monday this week, are to be "rolled over" for a further six months.

That announcement was not of great surprise to the holders of the bonds for it has been widely-known for an extended period of time that RBZ is in financial problems. Nevertheless, the failure to redeem the bonds on time is tragic, with cataclysmic consequences.

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