Dereck Tafuma
Sep 8, 2018 · 1 min read

I think Professor Mthuli Ncube is right that the bond notes must go. Not sure if the politics will allow him to get rid of them. The market has rejected them.

I think if he then decides to keep the United States dollar then that’s another problem long term. The USD is a currency with a global market for reasons I will get into on a different thread.

The USD attracts foreigners from the region and beyond who’s main focus is to get the USD and ‘externalise’ it. The reserve bank has no control over money supply and they can’t be trusted anyway, they’ve been flooding the market with the rejected bond notes.

So we should abolish the position of reserve bank governor until we have our own currency.

The challenge for Ncube is to work with a politically and power motivated government to reintroduce the ZWD to the satisfaction of the market. They have a mammoth task to gain the trust of the Zimbabwean market which has been economically (and physically) brutalised for decades. #economy #zimbabwe #zimbabweeconomy #rbz #reservebankofzimbabwe #usd #zwd #bondnotes #zimbabwebondnotes #moneysupply

    Dereck Tafuma

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