Bond coins to face stiff resistance?

Economists and informal traders have warned that new bond coins worth $10 million that are set to make their debut tomorrow might face stiff resistance from the public as there is lingering suspicion on the government's motives.

Four new coins have been unveiled by the Reserve Bank of Zimbabwe (RBZ) in denominations of one, five, 10 and 25 cents. Their value would be on par with United States cents and are only for local use.

Government says the introduction of these coins is aimed at solving the problem of change in most shops where customers are forced to accept sweets, matches or ballpoint pens.

However, locals are sceptical of backdoor attempts to re-introduce the Zimbabwe dollar.

Godfrey Kanyenze, an economic analyst, yesterday said while the coins would be convenient for the public, especially on the issue of change, there is deep mistrust about government operations.