This time Zimbabweans might have wanted to trust the government for once given Mangudya’s likeable character and innocent looking face, but alas; it turns out that the Governor is no longer on of us but one of them!
The Governor drummed up support for his bond notes giving assurance to desperate and dejected Zimbos that the bond notes will have a value of 1=1 with the USD which is widely used as the generally accepted currency of trade in Zimbabwe. But it is shocking that banks which are supposed to be exercising the parity principle are the ones who are first to break it. Banks are asking their clients who want to fund their VISA and Mastercards to use outside the country during the holidays to deposit greenbacks in their account before their international cards can be activated. Banks are refusing to let clients utilise the credit in their accounts or to deposit bond notes into their international debit cards.
At the time of writing this piece only Ecocash Mastercards are working outside the country with all banks having ‘suspended’ all international cards unless you fund it using the illusive USD. Now; where is the parity of the bond note to the United States dollar if they cannot be easily interchanged for those who require to use the greenback for holidaying, online payments, school fees etc? Mr Governor Sir, can you please rectify this and keep your promises for once! You have imposed the bond notes on the nation; without the oversight committee you promised, and now you have broken your second promise of parity with USD; what next, inflation fueled by oversupply of bond notes?