Zimbabwe Finance and Economic Development Minister Mthuli Ncube said the government was not prioritising the issuing of new banknotes and coins to replace the surrogate currency bond notes and coins that were introduced in 2016.
This is after a statement cited by Ncube stating that Zimbabwe will soon introduce new banknotes and coins.
He said the process was still in progress and the government would officially inform people when they have concluded.
“The Zim dollar as things stand is basically bond notes, RTGS and bond coins; that is the official position; that is where we are right now. When we are ready to do anything else we will let you know.”
“There is a process for introducing additional cash into the market, as determined by demand. There is a formula and scientific approach of doing it, which the Reserve Bank of Zimbabwe uses,” said Ncube.
Koketso Ramorei is a journalist and news editor of SADC News with years of experience in a number of genres including sports, politics and community reporting. He has worked for a numerous publications including The Citizen Newspaper and is a former editor of a Johannesburg-based off-campus publication called The Waldorfian Times.