Zimbabwe Govt Concedes Bond Notes Not Equal to Greenback

Zimbabwe's Central Bank has directed banks to open separate accounts for local and foreign currencies in a fresh attempt to solve the country's cash crisis. Bond notes are a controversial surrogate currency first introduced in 2016 as an export incentive, pegged to the value of the U.S. dollar but this has become an untenable situation that has created widespread trading of foreign currency on the black market.

Zimbabwe's bond notes and U.S. dollar notes (file photo).



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    The Herald, 3 October 2018

    Government is working to curtail the unrestrained issuance of Treasury Bills (TBs) as the stock of the short-term debt instruments, the major driver of fiscal disequilibrium, has… Read more »

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