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New bond notes aren’t meeting cash demand - Zim finance minister

Patrick Chinamasa has acknowledged that the new bond notes aren’t meeting the current demand.

FILE: A man holds a bond note released by the Reserve Bank Of Zimbabwe in Harare central business centre. Picture: AFP.

HARARE - Zimbabwe’s Finance Minister Patrick Chinamasa has acknowledged that the new bond notes aren’t meeting the current demand.

But Chinamasa says that the authorities will meet the huge needs for cash “in due course.”

It’s still early days for bond notes, but some shops are displaying signs to say that they accept them.

However, reports say it’s not the same at all fuel stations but so far the uptake and demand for the notes has been strong.

The Chronicle says Chinamasa has acknowledged that the notes aren’t meeting the demand, but they don’t want to create what he calls an inflationary situation.

Inflationary situations are of course what’s at the back of many Zimbabweans’ minds, following the hyperinflation brought on by bearer cheques between 2006 and 2008.

Only 10 million notes have been released so far, another 65 million are due to be released by Christmas.

(Edited by Winnie Theletsane)