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Citizens grill RBZ governor over bond notes

#ThisFlag campaign founder Pastor Evan Mawarire with RBZ boss John Mangudya

18/06/2016 00:00:00
by Anna Chibamu
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RESERVE Bank of Zimbabwe (RBZ) Governor John Mangudya was last Thursday grilled by members of the public over the government’s decision to print and introduce bond notes later this year.

The notes will be introduced in October to, government hopes, end cash shortages which have seen Zimbabweans spending hours in bank queues with limits imposed on daily withdrawals.

The discussion was organised by #THISFLAG pastor Evan Mawarire.

Leader of His Generation Church, Mawarire’s social media campaign highlighting the country’s economic problems has gone viral, attracting support from Zimbabweans across the world.

Most of the speakers who contributed to Thursday’s discussion pointed out fiscal indiscipline by the government as the main cause of the country’s economic problems.

Harare attorney, Advocate Fadzai Mahere, said Mangudya’s conduct regarding the proposed bond notes was unconstitutional and gross misconduct.

She said the government was enforcing the measures without proper consultations, warning this would cause the already battered economy more problems in the future.

Advocate Fadzayi Mahere (right) addresses the meeting

One Marshall Shonhai of Highfield, Harare told the governor that government must expenditure before rushing to print bond notes.

“To be honest with you Governor, we have a government that does not care about its people,” he said.

“You cannot lecture to us about consumption because you and your government are consuming more than what we produce. So put your house in order to save this country.”

He continued: “I do not trust you, governor.

“How is it possible the government acquires luxury vehicles for officials and all sorts of incentives when a farmer fails to be paid on time to prepare for the next season only to blame hunger on sanctions that do not exist at all?”

Opposition PDP official Vince Musewe (left)


Opposition People’s Democratic Party (PDP) economy secretary Vincent Musewe called for a change in the way the RBZ has tried to tally the US dollar to the bond note.

“Tell Chinamasa that no one will accept that bond note. We do not want bond coins/notes because we did not create any of these economic problems we face today.

“We are not here to embarrass you, but we want to save you from drowning into the crisis,” Museve told Mangudya.

Another citizen warned Mangudya to be truthful.

“Governor, with all due respect, please be honest with us. We are not fools,” he said

“I believe everyone here knows the reason why Zimbabwe is in this situation. Corruption, land policies and fiscal indiscipline on the government’s part are the reasons for our suffering.

“I think something is not being told here. Your push to have this bond note tells us a story that you are hiding.”


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