Bond coins’ necessity questioned

AS business, mainly the informal sector continues to defy the Reserve Bank’s notice clarifying that Bond coins are still legal tender, a survey currently being conducted by the Bankers Association of Zimbabwe shows that citizens are torn between the necessity and effects the Bond has had on the transacting public, and the economy, at large.
The informal sector has from last week been rejecting payment of goods for services in bond coins and notes, opting rather for the new ZW$2, $5, $10, and $20 respectively, but leaving many consumers stranded, in the process.
According to the ongoing online survey by BAZ, respondents who felt the bond coins have had a big impact topped the charts with 39 percent (%) a slight lead of 5% on those of the view that the bond coins have had no positive impact on the economy.
17% of participants said the bond coins have had a minor effect, while the remaining 10 % said there is little or no impact on the economy.
Late last week the central bank was forced to release a statement to clarify the legality of the Bond coins and notes.
Said the RBZ, “The Bank would like to advise the public that the coins issued by the Bank and currently in circulation are still legal tender. For avoidance of doubt, the notes and coins which are legal tender are bond coins, bond notes in $2 and $5, and banknotes in denominations of $2, $5, $10 and $20.”
A survey by this paper has shown that most informal sector players are not taking the bond note and coins, but opting for payment in ZW$ or the US$.

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