World Economy

Zimbabwe to Print Bond Notes

Zimbabwe to Print Bond NotesZimbabwe to Print Bond Notes

Zimbabwean President Robert Mugabe has side-stepped parliament to issue a decree clearing the way for the introduction of “bond notes” that have raised fears of a return to a domestic currency abandoned in 2009 as hyperinflation crippled the economy, Reuters reported. The bond notes are meant to ease biting cash shortages that have gripped the southern African nation since March but have helped fuel anti-government protests in recent months. Mugabe late on Monday used his presidential powers to amend the Reserve Bank of Zimbabwe Act, designating bond notes as legal tender that will be equivalent to the US dollar, according to an official government notice.


Add new comment

Read our comment policy before posting your viewpoints