Mthuli’s Bond Note In Intensive Care Unit
14 June 2023
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2023 VOTE CCC:

In 2016, the Zanu PF government introduced a surrogate currency called bond notes which was said to be equivalent to USD.

In 2019, the same government abandoned the parity nonsense and announced that banks can now offer market-determined rates to buy cash dollars with the bond notes or through electronic transfers.

Bond notes and electronic funds would be known as a separate currency called Real Time Gross Transfer dollars, or RTGS dollars.

Since their introduction in 2016, Zimbabwe’s surrogate currency has undergone massive devaluation, falling from an exchange rate of 1:16 in 2019 with the USD, to 1:3600 in 2023, just over a period of four years. This represents a loss of over 3500% in Zim dollar value.

As Zimbabwe approaches its next election in August this year, it is crucial to choose leaders with pro-citizen policies; those who prioritize the needs and welfare of their people, possess sound ethics and advocate for real transformation for the nation. #VoteCCC