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RBZ Governor John Mangudya

Business Reporter
The Reserve Bank of Zimbabwe has dismissed social media fabrications that it is introducing higher bond notes denominations of up to $50 describing such information as malicious falsehoods.

Yesterday social media platforms such as Facebook and Twitter were abuzz with reports that the central bank is introducing $10, $20 and $50 bond notes, prohibiting use of MasterCard, Visa Card and Maestro outside the country and rapping certain Government departments over failure to bank cash.

RBZ Governor Dr John Mangudya warned the public not to follow such unfounded and malicious reports.

“These statements are false and should be treated with the contempt they deserve. The bank (RBZ) dismisses the statements in their entirety as false, irresponsible, mischievous and malicious as the Governor nor any officer of the bank has held any such press briefing or made the statements as alleged,” said Dr Mangudya.

He said the the statements were not only false but dangerous as they were calculated to cause alarm and despondency within the economy.

“The statements are not only false but dangerous as they are calculated to cause unnecessary anxiety, panic, alarm and despondency within the economy. The statements are also calculated to discredit Government and the bank’s progressive efforts to stabilise the economy and fuel chaos in the economy by targeting the sensitive financial sector,” said the central bank chief.

The Governor described the circulation of false statements as abuse of social media by certain retrogressive, wayward and divisive elements who want to depict the economy in bad light through propagation of their shenanigans.

“This is quite unfortunate especially given that the economy is on a recovery trajectory, which is supported by the good agricultural out-turn and the rebound of the mining sector. The indiscipline and power of negativity, which has crept in our economy, should be converted and redirected to productive use for economic transformation,” he said.

“The bank dismisses the statements with the contempt that they deserve and advises the public to ignore them and transact as usual.”