Bond Notes Crises: Zimbabweans empty bank accounts

With the new token money about to be unleashed in the country any time soon, Zimbabweans have gone to their banks in numbers in a bid to withdraw all the US dollars they have.

Bank tellers in Harare and Bulawayo reported that a large number of worried depositors rushed to their banks to withdraw  money yesterday after Mugabe’s promulgation of Statutory Instrument (SI) 133 of 2016 to legalise the introduction of bond notes, with many observers blaming Mugabe’s unconstitutional move.

Mugabe on Monday signed a law that clears the hurdle for the introduction of the hated bond notes.

People are reportedly fearing that the new local money will take them back to the 2008-2009 hyper-inflationary madness that wiped out people’s life savings and pensions.

Lawyers, Tendai Biti and Lovemore Madhuku are preparing a legal application to challenge the legality of the SI, arguing it is unconstitutional.

Meanwhile, President Mugabe’s government has advised people that bond notes will be kept at par with the dollar and 2008 will never be repeated again.