Zimbabwe: Bond Coins Won't Exceed U.S.$50 Million - RBZ

19 December 2014

The Reserve Bank of Zimbabwe said bond coins in circulation will not exceed $50 million for the next three years until economic fundamentals improve. The RBZ this year arranged a $50 million bond facility that was aimed at addressing coins shortage in the economy. RBZ Governor Dr John Mangudya told the Institute of Chartered Accountants CFO breakfast meeting yesterday that the $50 million backed bond coins at one percent of the total country's deposits (currently sitting at $5 billion) are sufficient for the economy.

"Bond coins will not go beyond the $50 million facility and once economic fundamentals are in place the ratio will be maintained at one percent," said Dr Mangudya.

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