Mystery of $200 million bond notes facility

The International Monetary Fund has professed ignorance over the existence of a $200 million facility from the African Export Import Bank which the Zimbabwean government claims will be used to back soon to be introduced bond notes.

Government officials say the surrogate currency is meant to avert a biting cash crisis while promoting exports, as fears abound that authorities are using bond notes as a ruse to reintroduce a fully fledged local currency.

Asked whether or not IMF knew about the fate of the $200 facility, IMF press officer Andrew Kanyegirire said he had no information on the subject.