Business / Economy
RBZ has no appetite to print bond notes over US$200M
11 May 2016 at 23:11hrs | Views
The Reserve Bank of Zimbabwe says it has no appetite to print bond notes beyond the US$200 million facility.
Following concerns and fears from the local market on whether the Apex Bank will not print more bond notes, RBZ Governor, Dr John Mangudya has told captains of industry who graced the Zimbabwe National Chamber of Commerce (ZNCC) breakfast meeting that the central bank has no capacity to print beyond the limit as the service will be done outside the country.
The exporters' incentives is set to be funded by bond notes backed by a US$200 million Afreximbank Nostro Stabilisation and Export Finance Facility.
Dr Mangudya, who bemoaned the illicit financial flows and lack of discipline on the market, clarified to business that the proposed bond notes are meant to incentivise exporters in order to boost foreign earnings.
Following concerns and fears from the local market on whether the Apex Bank will not print more bond notes, RBZ Governor, Dr John Mangudya has told captains of industry who graced the Zimbabwe National Chamber of Commerce (ZNCC) breakfast meeting that the central bank has no capacity to print beyond the limit as the service will be done outside the country.
Dr Mangudya, who bemoaned the illicit financial flows and lack of discipline on the market, clarified to business that the proposed bond notes are meant to incentivise exporters in order to boost foreign earnings.
Source - zbc
