INTRODUCTION OF BOND NOTES AS CURRENCY A DISASTER FOR ZIMBABWE

imageAfter 36 years of mismanaging the economy the autocratic President of Zimbabwe the 92 year old Robert Mugabe is at a financial crossroad, grasping the last straw that he thinks would keep the country afloat.
His government’s financial disciplines, if there were any, has taken the country and it’s people into a deep abyss from which crawling back would need a new star on the horizon which in the near future looks nowhere to be seen even in the Universe.
Whilst Mugabe has not indicated any signs of relinquishing power, or for that matter even grooming his successor the recent introduction of bond notes have aggravated the financial crisis further.
The official exchange rate with the US dollar is 1:1 for the bond notes, but what is prevalent in the streets is something in complete contrast.
Inflation is mind boggling and has gone through the roof of those sitting to calculate it and Mugabe’s tryst with the new bond notes would be like his experiment with the now discontinued Zimbabwe dollar that was available in one hundred Trillion (100,000,000,000,000/=) denominations.
What financial future Zimbabwe would have in the last leg of Mugabe rule and after, ONLY TIME WILL TELL, but without doubt whichever way the country goe

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