'Bond notes will not solve anything'

Zimbabwe Congress of Trade Unions (ZCTU) president, Peter Mutasa has said the introduction of bond notes will not address the current cash crisis facing the country, including the continued economic decay.

Mutasa said the introduction of bond notes would not deal with issues of corruption and structural challenges, which were the main source of Zimbabwe's economic decline.

The government is set to introduce bond notes next month, which are said to be backed by a $200 million facility from Afreximbank Bank.

Mutasa said the injection of $200 million worth of bond notes would not alleviate the cash crisis being faced by Zimbabwe, as it only constituted a small percentage of the cash needed to holistically deal with cash shortages.