(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