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ZIMBABWE CENTRAL BANK TO `EDUCATE’ CITIZENS ON BOND NOTES

(Bloomberg) — Central bank to begin program to explain introduction of bond notes as currency, Deputy Governor Charity Dhliwayo tells lawmakers in capital, Harare.

  • Public to be told that each bond note will be worth its exact counterpart in U.S. dollars
  • Bond notes to be printed outside Zimbabwe, not by central bank-owned Fidelity Printers that printed country’s currency prior to 2009
  • Each bond note to be backed by $200m “facility” from Africa Export-Import Bank: Dhliwayo
  • Southern African nation abandoned Zimbabwe dollar in 2009 when hyper-inflation reached 500b percent; it’s since used multiple currencies, though trade is dominated by USD

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