Youths in Chitungwiza reject ‘bond notes’.

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By Margret Chogugudza- Chitownews citizen reporter.

Youths in Chitungwiza reacted with shock and anger to government’s decision to introduce bond notes to ease the cash crunch currently gripping Zimbabwe. The Zimbabwean government is set to introduce a surrogate currency called bond notes which has raised fears of the imminent return of the Zimbabwean dollar abandoned in 2009 after it became worthless due to world-record hyperinflation.

In a social media survey conducted by Chitownews on Whatsapp and Facebook- most respondents argued that the move will most likely backfire and take the country back to the hyperinflation era of 2007 to 2009.

Peter Majuru a resident of Unit D in Seke said, “The introduction of the bond notes will have devastating effects on the economy and they will bring to an end the economic stability brought about by the introduction of the US Dollar in 2009”.

Andrew Chinembiri from Zengeza said, “What the Government of Zimbabwe is doing shows clearly that it is not considerate of our lives as youth and all Zimbabweans at large. The introduction of bond notes will not do us any good but it will cause a lot of problems for us”.

“The government should be focusing in creating employment opportunities for us, rather than putting focus on the bond notes which are not going to address our fundamental economic problems which are stemming from low productivity”, he reiterated.

Another resident of Chitungwiza Mr Gift Kurupati said, “The Government of Zimbabwe has decided to ignore fundamental economic realities in introducing a currency which is not backed by productivity. This is an ill-conceived policy that will take us back to the hyper-inflationary period”.

Vendors also lamented the introduction of the bond notes saying they foresee a major decline in their businesses. In interviews with Chitownews, most of them slated the government’s move saying it will rob them of their livelihoods.

Melody Maisiri a vendor at Chigovanyika said, “I do not think the bond notes will improve anything. We are going back to the Zimbabwe dollar era and people should remember that this government dollarized reluctantly after everyone discarded their useless currency”.

Another vendor who chose to remain anonymous said “The government should stop playing with our lives. As vendors, we are very skeptical about the introduction of bond notes because it seems as if history is repeating itself”.

Talent Chivanga a cross-border trader said “We the informal cross-border traders will be the most affected, as we will not be able to use the bond notes outside the Zimbabwe’s borders where we source their wares”.

 

 

 

 

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