Citizens told to use ‘plastic money’

Zimbabwe’s central bank chief has told people to use “plastic money” – or cash cards – if they are opposed to the introduction of “bond notes” to ease a severe currency shortage, the state-owned Herald newspaper reports.   John Ganmudya’s comments came amid growing anxiety that the bond notes would be worthless and Zimbabwe would return […]

Zimbabwe’s central bank chief has told people to use “plastic money” – or cash cards – if they are opposed to the introduction of “bond notes” to ease a severe currency shortage, the state-owned Herald newspaper reports.  
John Ganmudya’s comments came amid growing anxiety that the bond notes would be worthless and Zimbabwe would return to the era of hyper-inflation.
The Herald reported that Mr Ganmudya, in a speech earlier in the week at a breakfast meeting, said:
“If you are getting a $400 salary, you will still get $400 in US dollars, bond notes, rand or euros. If you don’t want them then use plastic money. We are not forcing anybody to use bond notes.”
The specially-designed two, five, 10 and 20 dollar notes will have the same value as their US dollar equivalents and are expected to be introduced later this year.
Zimbabwe introduced the US dollar after ditching its own currency in 2009 following sustained hyperinflation.