The justification to impose the bond notes is that they will assist in alleviating the current liquidity crunch facing Zimbabwe.
Crisis in Zimbabwe Coalition (CiZC) launched the #SayNoToBondnotes campaign in March 2017 after we were moved by the decision by the government to print bond notes which will certainly come with negative effects on the already ailing economy.
The CiZC Youth Committee will lead campaigns aimed at simplifying the language around the bond notes issue as well educating the masses on the negative repercussions of the bond notes introduction thus encouraging citizens around the country to REJECT THE BOND NOTES.
Through our decentralization exercise, CiZC will ensure that the #SayNoToBondnotes campaign reaches out to grassroots communities across the country.
CIZC is of the firm view that
– There are limited accountability channels available to citizens to monitor the activities of the RBZ on printing Bond notes raising questions on what measures are in place to ensure that the Government of Zimbabwe will not print bond notes exceeding the 200million dollar facility.
– If the bond note is an export incentive, we do not believe that the 5% incentive should be printed in bond notes but instead the government should consider an investment interest return that is credited to account holders without essentially printing money
-We are wary on the security behind the printing of the bond notes.
-We remain true to the constitution of Zimbabwe as the supreme law of the land and we are worried on the decision by the President to use an unconstitutional legislation to gazette the introduction of Bond notes. The CiZC youth committee urges all citizens to reject attempts to subvert the Constitution of Zimbabwe
– The introduction of bond notes will see the resurfacing of a parallel currency exchange market and in the interim shortages of basic commodities