Zim’s new bond money suffers major setback
Zimbabwe authorities have been left in the red after a German company, Giesecke and Devrientwhich, rejected Reserve Bank of Zimbabwe’s request to print bond notes for the cash strapped country, it has been revealed.
The treasury is now negotiating with Southern African countries for help.
Agencies say the German firm which has previously helped Zimbabwe print money, is reluctant to print the bond notes as the exact terms of the so-called Afreximbank facility continue to be shrouded in secrecy.
The same German company stopped printing the worthless Zimbabwe dollar in 2008 due to hyperinflation at the height of the country’s unprecedented economic meltdown. An official from the German embassy said the Giesecke and Devrient would not print the bond notes.
The Zimbabwe Reserve Bank is yet to publicly respond to the latest crises.