Bond notes divide Zanu-PF

Zanu-PF is reportedly divided over the move to introduce bond notes as a stop-gap measure to address the current cash crisis, with some legislators expressing fears that the move could trigger hyper-inflation and panicky cash withdrawals, as depositors fear a repeat of the 2008 economic meltdown.

Ruling party MPs and officials, said the move was akin to addressing symptoms instead of the root cause of the cash shortages.

Other Zanu-PF MPs, who spoke on condition of anonymity, said it was hard to convince people to accept bond notes in view of the massive losses they suffered during the switch-over from the Zimdollar to the multi-currency system in 2009.