Finance Minister Professor Mthuli Ncube under fire over what he said about bond notes


The announcement by the newly appointed Finance and Economic Development minister Professor Mthuli Ncube that the business community should accept bond notes has sparked debate among Zimbabweans who felt the new “Treasurer” should not make off the cuff statements as it create panic in an already fragile economy.

Addressing a joint press conference with British Ambassador Catriona Laing Tuesday, Ncube urged the business community to accept bond notes saying it will only be phased out after broader economic reforms have been put in place.

263Chat managed to gather reactions from Zimbabweans on Ncube’s remarks;

@RegMudunge “When you the minister of Finance don’t make off the cuff comments. The markets react to your mouth based on implied messages.”

Oliver P said “Prof Ncube is causing confusion. Who wants to be financially shipwrecked somewhere in the Zim-ocean? Did he not say bond notes were chasing away good money and that he will phase them out? That’s why people can’t accept them because he diagnosed them as dying, contagious imps.”

“His statement after appointed of wanting to get rid of bond notes, l think it triggered uncertainty in the market, hence the high rise in US$ rates and increase in prices. anyone who has invested regarded bond as of high risk hence causing all the reactions in the market,”‏ said @chapfakama.

Some where saying Proffessor Ncube should not be manipulated by politicians to make political decisions that cost the economy.

” But he said his 1st priority is to remove the bond notes as they are bad for the currency.. what has changed now…kkkkk people thought he was the savior.. Nothing will come out of Zanu pf .. absolutely nothing,” said Chrispen Munemero.

@FredBDiamond He came out all guns blazing from a haze of diaspora induced hysteria. One cabinet meeting is all it took to make him toe the line. A few more and he will be singing all praises to King bond the inspired surrogate currency. Zanu so.

” This is not surprising. @MthuliNcube is implementing @ZANUPF Official policies as written in their manifesto,” said @ Prof Mlambo.

@Musonza said “Zanu PF like MDC Alliance doesn’t seem like it has a credible currency reform plan. And @MthuliNcube is having to play ball here. Bond Note is not a long term method and so there must be a visible exit strategy. All that $250m sourced from U.K will end up in SA and Dubai banks.”

— 263Chat

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