A briefer on Zimbabwe's impending quasi-currencySeven years since abandoning its own currency, Zimbabwe’s government is moving full steam ahead to introduce what it calls “bond notes” into the country’s multi-currency system. The Reserve Bank of Zimbabwe (RBZ) announced this month that it has released the regulations creating the legal precedent to print and circulate the bond notes. The significance of the RBZ clearing its last “regulatory hurdle” is lost on many, and for good reason. Zimbabwe’s bizarre financial system requires some explanation especially given the fact that the term bond notes is widely unknown. Instead, it’s something the RBZ has invented in an attempt to dig itself out of the severe cash crisis plaguing the country’s rock bottom economy. This briefer provides some background information in anticipation of the imminent release of the notes.
Mawarire gave his remarks draped in a Zimbabwean flag, the symbol of the movement. “We are rising up to say that our government has failed us. We’re not afraid anymore to raise our voices, because it is the truth. [...] the Zimbabwean citizens are the missing voice that has not been present in the timeline of building Zimbabwe.”