Zim social movements: Bond notes have failed

In a joint statement read out by Evan Mawarire, the groups say the situation in Zimbabwe is getting worse by the day.

FILE: A man holds bond notes released by the Reserve Bank of Zimbabwe in Harare central business centre on 28 November 2016. Picture: AFP.

JOHANNESBURG – As cash shortages worsen in Zimbabwe, prominent social movements have come together to call on the Reserve Bank governor to resign.

In a joint statement, the groups led by ThisFlag founder Evan Mawarire say Zimbabwe’s bond notes have completely failed.

The groups, which include ThisFlag, Tajamuka and the National Vendors’ Union have condemned what they called the shambolic and embarrassing state of the nation.

In a joint statement read out by Mawarire, the groups say the situation in Zimbabwe is getting worse by the day.

They say bond notes, which were introduced five months ago to ease cash shortages, have instead driven US dollars out of the market.

They want the bank governor to resign, in line with a promise he made last year in the event that the bond notes failed.

The central bank said last month that $130 million dollars’ worth of bond notes and $900 million in cash was in circulation in Zimbabwe claiming that was enough for local transactions.