Bond notes debate held in St. Mary’s.

Panelists at the Bond Note debate held at St Mary's hall

By Chitownews citizen reporter- Admire Mutize.

Civil society organisations in Chitungwiza convened a public meeting last Wednesday at St. Mary’s hall in Chitungwiza to interrogate the implications of the decision by the Reserve Bank of Zimbabwe to introduce bond notes as legal tender to mitigate cash shortages in Zimbabwe’s multi-currency system. The public meeting was convened by the Crisis Coalition in conjunction with the Chitungwiza Residents trust (CHITREST) and the Zimbabwe National Students Union (ZINASU).

The public meeting’s theme was “Bond notes: Disaster or hope” was addressed by Key note speakers that included Firebrand ZINASU Secretary General Alistair Pfunye, former St. Marys Member of Parliament Marvellous Khumalo, Simbarashe Moyo of Combined Harare Residents Association (CHRA) and the irrepressible Dr. Pedzisayi Ruhanya of the Zimbabwe Democracy Institute (ZDI). A representative of the Reserve Bank who was scheduled to speak at the meeting failed to turn up.

The meeting was attended by approximately one hundred Chitungwiza residents who listened attentively as speaker after speaker took to the podium to castigate the decision to introduce bond notes into the multi-currency system. Most predicted economic chaos similar to the Zimbabwe dollar hyperinflationary era of 2007-2009.

“Only a fool tries the same thing twice and expects different results! The introduction of bond notes takes us back to the Gideon Gono era when government sought to dribble Zimbabwe out of economic crisis by printing worthless money and the result was a full-blown economic crisis and unimaginable suffering for the majority”, said Alistair Pfunye- the Secretary General of ZINASU.

“You cannot mix bad money and good money in the same monetary system simply by giving bad money nominal value of parity with good money. The net result will be that bad money will chase the good money out of the system and soon we will be back to the hyperinflationary era of Bearer notes era”, thundered Simba Moyo- the Chairperson of Combined Harare Residents Association (CHRA).

Dr. Ruhanya was even more scathing of the RBZ’s decision describing it as economic suicide. He went on to urge Chitungwiza residents to ensure that they register to vote and actually vote in the watershed general elections set for 2018. His address captured the imagination of the growing crowd in attendance which responded with whistles and ululations as he lambasted the ZANU PF government for running out of solutions to Zimbabwe’s deepening economic crisis.

“Ngatiitei zvinhu veduwee!!!”, (Lets do things together) he exhorted the crowd in attendance.

“Youths especially those who drop trousers and speak in funny American accents while hanging outside shopping malls are letting the whole country down, They are biggest sellouts if we are to use the language of ZANU PF”, he charged.

“Statistics say Youths form the biggest demographic group in Zimbabwe and when we compare them with statistics from ZEC these overwhelming numbers are not reflected on the voters roll which means that youths neglect to register and vote in local and national elections and the result is pensioners are deciding for us”, he explained.