ZIM CONCOURT DISMISSES MUJURU’S APPLICATION AGAINST NEW BANKNOTES
Joice Mujuru said the new money, called bond notes, would violate her constitutional rights.
JOHANNESBURG – Zimbabwe’s Constitutional Court has dismissed an application by the country’s former Vice President Joice Mujuru, who wanted to challenge the imminent introduction of new banknotes.
Mujuru said the new money, called bond notes, would violate her constitutional rights.
This was a brave attempt by Mujuru to avert what many in Zimbabwe feel will be an economic disaster.
But it failed at the first hurdle.
Laws regulating the bond notes haven’t been promulgated yet and the Constitutional Court says it’s too early to say whether the regulations will be constitutional or not, according to legal watchdog Veritas.
The central bank is due to release around $75 million worth of the new notes between October and December, but the fear is that they will become worthless just like bearer cheques were in late 2008.
State lawyers accused Mujuru of political grandstanding, and some analysts are wondering if the hearing would have gone differently had it been brought by someone else.