ZCTU Joins Calls For The Rejection Of Bond Notes

By Staff Reporter

Harare, May 13, 2016 – THE Zimbabwe Congress of Trade Unions (ZCTU) has joined calls for Zimbabweans to reject bond notes which the central bank has said it was planning to introduce in two months’ time.

In a statement, ZCTU secretary general, Japhet Moyo said the bond notes were not a solution to the current problems bedeviling the country.

Moyo said the cash crisis was just a symptom of a more complex self-created problem by the current government.

“The bond notes will not work as Zimbabweans have lost confidence in the government’s ability to revive the economy as well as the ability of the RBZ to rise to the occasion under the current crisis,” he said.

“With the nasty experiences of the bearer cheques era, Zimbabweans have lost trust in the RBZ that wiped out their life time savings. It seems the current RBZ chefs are repeating the same measure that were employed before and failed to work.”

The ZCTU chief said the fundamental problem in the country was that of skewed priorities by the government, adding that the country had become a basket economy as industry had collapsed and nothing was being manufactured in the country.

“In fact, the introduction of the bond notes will worsen the plight of workers as more and more companies will sink due to failure to access real money to rejuvenate their operations,” he said.

Moyo said it was high time government swallowed its pride and declared openly that it was now reintroducing the much dreaded Zimbabwe dollar through the back door.

“It must also admit that they have failed to revive the industry as well as run the country and let those who are able to do so to take over,” he said.

The ZCTU boss said the Zanu PF leadership should do the honourable thing and step down to make way for fresh national elections that would give the troubled Southern African country a fresh impetus, saying it was the only way the nation could move forward.

MDC-T leader Morgan Tsvangirai on Thursday called on locals to reject what he said were attempts to rig the economy through a backdoor reintroduction of the Zim-dollar.

He called for protests against the unpopular move.


Tsvangirai was echoing sentiments also expressed by PDP leader Tendai Biti and NCA leader Lovemore Madhuku who last week urged demonstrations against bond notes.