
Zimbabwe: Cabinet decision on Witch Hunting (29.11.2016)



The long term dictator of Zimbabwe Robert Mugabe has resurfaced his own or the nation own currency. This time the first currency since the devaluation and hyper-inflation, as they of recent years has traded on South African Rand and U.S. Dollars. So the Bond Notes should be possible, but in reality they are a way for the government to take up more loan and sign it off to their citizens instead of settling scores with the international community that the Republic of Zimbabwe; instead the debt and inflation this is supposed to recharge a sinking economy, but with the corruption and embezzlement together with the sanctions have hit the cash-strapped economy.
The Bond Notes are a remedy, but not a believable one, which I have portrayed before; not that the U.S. Dollars and South African Rand’s couldn’t last forever, but this here is just taking up more loans and stifling the citizens with the bill.

Here is the first of day of Bond Notes!
Bond Notes comes from South Africa:
“So everyone was wondering where this MR BOND NOTE is coming from but we managed to solve that riddle when the notes and coins arrived in Zimbabwe early yesterday aboard an international plane” (…) “The plane had a clearly visible logo, Cavok Air, which is a Ukranian cargo chartered flight company specializing in transporting high-value goods” (…) “Air cargo transportation; DG and special cargo transportation; Cargo charter operations with 24H flight watch; Planning and flight support; Obtaining diplomatic and special permits” (Masasi, 2016)
Bank agreements before the launch:
“The use of bond notes within the multi-currency exchange system which are anchored on the $200 million facility will operate along the same lines as bond coins, pegged 1:1 to the US dollar. RBZ said retailers, fuel companies and other businesses had agreed on the use and acceptability of bond notes as a medium of exchange” (…) “The Reserve Bank has engaged and agreed with the Retailers Association of Zimbabwe, fuel companies, representatives of the various business associations and the Consumer Council of Zimbabwe on the use and acceptability of bond notes as a medium of exchange in the country,” the bank said” (Chakanyuka, 2016).
Supermarkets in Harare:
“The big supermarkets in Harare – including Pick n Pay and OK Zimbabwe – were not openly willing to accept the bond notes that will also come in $5 denominations, at least for now” (…) “We are waiting for specimens and samples from the Reserve Bank. Maybe we will start accepting the bond notes in the afternoon when we receive the samples,” a manager at an OK Zimbabwe supermarket in Harare told shoppers intending to buy goods using the bond notes” “ (…) ”At Pick n Pay and TM Supermarkets branches in central Harare, the bond notes were also not being accepted. A supervisor told Fin24 that the shop was “yet to get approval to accept the bond notes” (Mataranyika, 2016).
Publicised pictures of Bond Notes, fired!
“POSB unlawfully and without permission, took images of bond notes in its vaults and distributed and publicised the images via social media,” the RBZ said in a statement signed by governor John Mangudya” (…) “The Reserve Bank…has imposed an administrative fine of $500,000 on POSB. The employees of POSB who took, publicised and distributed the images on social media have been dismissed with immediate effect,” the RBZ said” (the Source, 2016).
What have we learned by today is that certain stores doesn’t accept the currency in the midst of the capital where the nation and national assembly set in motion this coins to trade with. Still, the own population doesn’t all accept it. That even the leak a day earlier made certain Reserve Bank employee’s has been fired; the other people who leaked it on the Harare International Airport got away with it seem!
The proof that one Consumer Council has not authority with the top market Supermarkets, that shows the common neglect from the Zimbabwe Government that clearly has more tricks than governance, therefore they not listening to the public will for not releasing this currency and forcing the trade with these monetary policy.
The ones that earns on this is not the Zimbabweans, it is Mugabe and his Zanu-PF the ones that believes otherwise has been sleeping in class and never listen to headmaster. This is the next trick that supposed to clear out the running debt and feed the cronyism that are key to how Zanu-PF is running the country. Peace.
Reference:
Chakanyuka, Tinomuda – ‘BOND NOTES OUT . . . Reserve Bank sets cash withdrawal limits’ (27.11.2016) link: http://www.thezimbabwedaily.com/top-stories/96352-bond-notes-out-reserve-bank-sets-cash-withdrawal-limits.html
Mataranyika, Memory – ‘Zim supermarkets reject new bond notes in early trade’ (28.11.2016) link: http://www.fin24.com/Companies/Retail/zim-supermarkets-reject-new-bond-notes-in-early-trade-20161128
Masasi – ‘Bond notes made in South Africa – LEAKED PICTURES SHOW’ (27.11.2016) link:http://masasi.co.zw/bond-notes-made-in-south-africa-leaked-pictures-show/
The Source – ‘POSB fined over bond note picture leak, workers sacked’ (28.11.2016) link: http://source.co.zw/2016/11/posb-fined-over-bond-note-picture-leak-workers-sacked/
“Here’s a first look at Zimbabwe’s new ‘bond notes’, its own currency equivalent to the US dollar. Authorities hope that issuing $10 million of ‘bond notes’ will ease Zimbabwe’s severe cash crunch, but critics believe it will hit their savings” (TimesLive, 2016)





“At least six Zimbabwe activists were “abducted” and some of them beaten up as a heavy police presence in Harare prevented planned protests on Friday against President Robert Mugabe’s government. Sylvanos Mudzvova, one of the protest movement leaders, told AFP that fellow activist Patson Dzamara and two others were admitted to hospital after being abducted by unidentified men who dragged them out of their cars” (CCTV Africa, 2016)

Harare, 17 November 2016 – El Niño-induced drought has led to a serious surge in food insecurity and hunger affecting 40 million people across the southern Africa region. Zimbabwe, one of the countries most affected, is in the midst of the worst drought in 25 years that is projected to affect 5.2 million people including 1.1 million urban dwellers during the first quarter of 2017.
Addressing some 150 participants at the 4 th national multi-stakeholders consultative meeting jointly convened by the Office of the President and Cabinet and the UN System in Zimbabwe today in Harare, the UN Resident Coordinator Bishow Parajuli said, “As we approach the peak hunger period of the lean season, inadequate funding to the humanitarian response plan will not only curtail the ongoing relief efforts to increase assistance to the most vulnerable in the rural settlements and scale-up assistance in urban areas but also risks reversing the gains made in the development and humanitarian areas thus far.”
Of the $352 million being sought under the Humanitarian Response Plan (April 2016-March 2017), nearly $212 million has been committed, with the current funding gap at $140 million. The committed financial and in kind relief support has allowed the UN and NGOs to reach approximately 1.7 million vulnerable people in over 42 districts with food, cash, agricultural inputs and other lifesaving relief assistance.
The committed resource includes the recently announced additional £40 million by DFID.
Announcing the additional boost which brings the total contribution by the Government of the UK to £55.6 million, Annabel Gerry Head of DFID Zimbabwe said, “The additional support from DFID will provide mobile cash payments to 360,000 vulnerable people up until end of March 2017; cover the cost of screening of 160,000 children for malnutrition; and the cost of treatment for over 12,000 children.”
The ongoing relief response has also been made possible by the generous contributions from USAID, EU-ECHO, the Netherlands, Japan, Australia, Sweden, Canada, Switzerland, Germany, Ireland and Denmark. The BRICS nations and others have also supported the relief efforts, including bilateral contributions from China, India and Brazil.
Expressing deep gratitude and appreciation for the generous support from donors, the UN Resident Coordinator said, “sectors such as water, hygiene, and sanitation; education; and protection remain severely underfunded, threatening the country’s hard-won development gains made in these areas over the years.”
The fourth national multi-stakeholder consultative meeting underlined the importance of the drought response to be consistently guided by the universal humanitarian principles of humanity, neutrality, impartiality, and independence.
Senior Principal Director, Office of the President and Cabinet, Mr. O. E. M. Hove said, “Government has made all efforts to import and set a buffer stock of maize to ensure that no citizen starves irrespective of one’s political or other affiliations.” Mr. Hove appreciated the generous support from humanitarian and development partners that are complementing Government’s efforts in response to the prevailing humanitarian challenges and called on all partners to stay the course.
Noting the need to continue and increase joint response to the pressing effects of the worst drought, stakeholders agreed to recalibrate their efforts towards resilience-building, provision of quality social services and protection programmes to ensure strong linkages and eventual transition of those affected by drought to recovery, medium and long-term sustainable development.
Reiterating on the call to planning for the future with focus on building resilience, Mr. Hove said, “to this end the Government of Zimbabwe is implementing a special programme to ensure food security targeting to produce at least two million metric tonnes of maize grain on 400,000ha of which 200,000ha will be irrigated.”
Today’s national multi-stakeholders consultative meeting follows two successful Provincial Drought Response Consultative meetings held in Bulawayo and Harare at the end of September and beginning of November, respectively. The provincial meetings allowed partners to adopt harmonized relief response approach across the Government, UN and NGOs managed assistance for improved targeting, registration, distribution, monitoring and accountability.
Media Contact: Sirak Gebrehiwot, UN Communications Specialist, E-mail: sirak.gebrehiwot@one.un.org;
Cell #: +263 772 198 036

This follows Zimbabwe’s full settlement of all of its overdue financial obligations to the PRGT of SDR 78.3 million (about US$107.9 million) on October 20, 2016.
WASHINGTON D.C., United States of America, November 15, 2016 – The Executive Board of the International Monetary Fund (IMF) approved today, on a lapse of time basis,[1] the removal of the remedial measures applied to Zimbabwe that had been in place because of the member’s overdue financial obligations to the Poverty Reduction and Growth Trust (PRGT), effective November 14, 2016. These measures are: (i) declaration of noncooperation with the IMF (see Press Release No. 02/28); (ii) the suspension of technical assistance (which had already been partially lifted, see Press release No. 09/152 and Press Release No. 12/405); and (iii) the removal of Zimbabwe from the list of PRGT-eligible countries (see Press Release No. 01/40).
This follows Zimbabwe’s full settlement of all of its overdue financial obligations to the PRGT of SDR 78.3 million (about US$107.9 million) on October 20, 2016 (see Statement by IMF on Zimbabwe). Zimbabwe had been in continuous arrears to the PRGT since February 2001 and was the only case of protracted arrears to the PRGT. Zimbabwe is now current on all of its financial obligations to the IMF.
Notwithstanding the settlement of overdue financial obligations to the PRGT and the removal of remedial measures, consideration of any future request for IMF financing would also require Zimbabwe to comply with other applicable IMF policies, including to: (i) resolve its arrears to multilateral creditors (including the African Development Bank (AfDB), the World Bank, and other multilateral institutions), bilateral official creditors, and external private creditors (if any); and (ii) implement strong fiscal adjustment and structural reforms to restore fiscal and debt sustainability and foster private sector development.
Useful link:
[1]The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.