By Own Correspondent| Bulawayo Vendors Trust have urged Finance minister Mthuli Ncube to abandon the use of the bond notes which they say is having adverse effects on the informal economy.
Said the organisation:
“Government’s surrogate currency, bond note has negatively affected the informal economy. Informal traders have to exchange the bond notes for foreign currency on black market and where they are accepted they devalue the currency which leaves a huge dent in their pockets.”
Finance and Economic Development Minister Professor Mthuli Ncube yesterday said the country will have its own currency within the next 12 months, as Government is frantically working on raising enough foreign currency to anchor it.
Addressing delegates at a “Road to Davos” townhall meeting in the capital yesterday, Prof Ncube said adopting the United States dollar or the South African rand would not solve the country’s macro-economic problems.
“On the issue of raising enough foreign currency to introduce the new currency, we are on our way already, give us months, not years.”