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The New Zimbabwe Bond Notes

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Anaximander's Avatar
United Kingdom
709 Posts
 Posted 05/29/2017  5:07 pm Show Profile   Bookmark this topic Add Anaximander to your friends list Get a Link to this Message Number of Subscribers


The-New-Zimbabwe-Bond-Notes

The-New-Zimbabwe-Bond-Notes

The-New-Zimbabwe-Bond-Notes

The-New-Zimbabwe-Bond-Notes

Notes are 157 x 66mm approx.

2 dollar note was issued Nov 16, 5 dollar Feb 17, as far as I can make out from the web.

These notes are supposed to be accepted on par with greenbacks, but this is not happening. They are already being received badly. I have read of prices in smaller shops being listed three times, once for US$, once for these bond notes and once for cards. Differences can be 50% between the US$ and bond note. Larger shops are not allowed to do this, so prices are just increased.

Traders struggle with these notes because they cannot be used to buy imports - the notes are not accepted outside Zimbabwe. Traders accept the bond notes from customers, but then have to exchange them from money changers for US$ at a significant premium to buy goods outside the country. One source I read stated the premium was around 30%. No doubt this will increase.

Reports initially mention plans to introduce Z$10 and Z$20 notes, but the bank has stated they will not do this.

Sad times ahead again?
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sel_69l's Avatar
Australia
21786 Posts
 Posted 05/29/2017  8:22 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
It seems the Government of Zimbabwe has still failed to deal with the base issues that have caused inflation.
Corruption ALWAYS prevents the economic development of any Country.
I guess that most people, businesses and Counties will place no faith in this new issue.
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CelticKnot's Avatar
United States
12819 Posts
 Posted 06/07/2017  12:59 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Aesthetically, these are very nice. I have the 2 and 5 as well for my $Zim collection, and I wouldn't mind seeing the 10 and 20 if they ever come about.


Quote:
I guess that most people, businesses and Counties will place no faith in this new issue.

You are almost certainly correct.

But, Mugabe is 93. Perhaps when he is gone there will be an opportunity for the country and its economy to mend.
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CelticKnot's Avatar
United States
12819 Posts
 Posted 11/18/2017  2:31 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Well, now some things are definitely going to change. This ought to be an interesting couple of weeks.
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sel_69l's Avatar
Australia
21786 Posts
 Posted 11/18/2017  4:25 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
In the last couple of days, the Army has taken over the Government, and asked Mugabe to retire.

Unfortunately, a military takeover does not solve the endemic corruption problems.
In addition, military rulers rarely have the economic skills to govern properly, either.

Expect inflation to continue.
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paxbrit's Avatar
United States
992 Posts
 Posted 11/20/2017  1:45 pm  Show Profile   Bookmark this reply Add paxbrit to your friends list Get a Link to this Reply
Perhaps the long road back from Mugabe's rule has started.

Tourists used to visit to see the Zimbabwe ruins. Now they can see the ruins of Zimbabwe.
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