Chinamasa lied on fake bond notes, says RBZ boss

Finance minister Patrick Chinamasa misdirected the nation when he claimed that unscrupulous characters have already printed fake bond notes, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said.

Mangudya said there was no need to panic as the central bank is still awaiting the bond notes delivery.

He said it was impossible to have counterfeits before specimen notes have been unveiled.

"I can confirm that the bond notes are still with the printers and delivery has not yet been done.

" No fake bond notes are in circulation, in existence in the market," said Mangudya in Bulawayo.

Chinamasa had told parliamentarians in Bulawayo that fake notes have been printed by criminals.

There is resistance from the business sector and ordinary Zimbabweans.

The bond notes are due to be introduced later this month.

RBZ says the bond notes would be issued at par with the US$ in the same manner the bond coins have been operating.

This, therefore, means the bond notes will have the same value as the United States dollar.