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Bond notes are a real crisis says Zanu PF official

by Stephen Jakes
26 Sep 2017 at 09:25hrs | Views
A Harare Legislator for Zanu PF Terence Mukupe has said no matter how much the Reserve Bank of Zimbabwe Governor John Mangudya tries to save his face on bond notes, the surrogate currency is a true crisis for Zimbabwe and must be done with.

Mukupe said there are politicians who will stand and defend a dead horse, giving us 100 reasons proving to us why we can not bury the dead horse.

"They would politicize the one who claimed the horse is dead. They would attack those who are trying to bury the dead horse. They would comfort the owner of the dead horse and tell him that everyone who is telling him his horse is dead is opposed to blacks owning horses," he said.

"But at the end only word of advice they would give is I quote, 'have you tried buying a new and strong whip , whip the horse it will one day come to life?'. It is my considered opinion we have to accept that the bond note is here to stay and we can't do without it irrespective of whatever form it takes. This is simply because via the TBs we are having to create our own indigenous IMF to create the 'online dollars' so as to plug the budget deficit."

He said the solution to the current loss of confidence and drastic devastation of the bond note and the artificial bull run in the stock market can only be slowed down by the need to go back to 2009 and recreate US$ denominated accounts once more alongside bond accounts.

"This way Mangudya would save face and continue with his propaganda message of saying the bond and the USD are 1:1," he said.

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