Mangudya fumes over bond notes rumours

RBZ Governor John Mangudya

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.”

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  • aussiemigrant

    all those murungus have put them in their pillows lololol

    • dabul’khethe

      Sometimes false statements eventually become true. In zim anything is possible. 9 out of 10 false statements have become the truth. Soyicela isivuthiwe

  • wordfanece

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  • vusumuzi

    why is he not fuming at the shortage of usds , bonds , in fact , cash , in the country??? He is said to be fuming as if he is doing a splendid job at RBZ. Bloody thief. They knew that when they put Bonds into circulation , they would then take the USDs themselves, come and change them in RSA, open businesses there !!!.

    • Doctor Do little

      Maybe someone is giving Zanu PF a taste of their own medicine after the ridiculous allegations that the shortage of bond notes were cause by former white farmers burning them. This was said at a rally in Rudhaka stadium. Abazinuke amakwapa.

      • Mixed Race

        Only naive and misguided people expect to be paid in USA dollars for their government sponsored tobacco sales.Whatever happens they will be paid in bond notes because real money is for the bosses.

  • Wellington

    they most probably toyed withh the idea of introducing higher denominations, they are testing waters here may be the $10s and $20s are already sitting in their vaults waiting to be dispatched, this is Zimbabwe

  • makhosi

    Fuming over nothing really, people will always spread rumours. Concentrate on the claimed recovery trajectory you fool. We expect positive fiscal reports from you not rumour mongering.

  • God of War

    Which economy is he saying is recovering because all i see is everything crumbling.

  • nda

    RBZ should put more effort, people should access their funds without problems, look at pensioners sleeping on bank queues under harsh cold nights are you not feeling sorry for them . lam failing to understand what is happening

  • makhurane

    kkkkk Mr mangumba is this economy on recovery or not even recession ,its now flat man uthini kanti what is recovering here in Jimbabuei

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  • ngisazini

    those people who sleep on bank queues usually have no access to public toilets and end up using dark spots in the night

  • Bigboss

    Am trying to go over many dictioneries to find the term RECOVERING in relation with our economy

  • clement moyo

    The problem is that this government is not shy of shenanigans itself and is not know of telling a consistent truth. So, both sides have nothing but air. The economy can never be bettered by this kind of reckless expenditure and paying your debts in time. Right now a lot of money is probably being plowed to rigging the 2018 elections. Also paying big pecks to a non performing very big cabinet is not going to help either.