Gono dismisses Zimdollar comeback

Former RBZ govenor Gideon Gono

RESERVE Bank of Zimbabwe governor Gideon Gono has allayed fears of an immediate return of the local currency, amid market speculation that a Zanu PF government would bring back the Zimdollar.


In a statement yesterday, the central bank chief said according to President Robert Mugabe, the local currency would only be introduced once the economy fully recovered.

“This statement serves to emphatically dismiss those rumours and to confirm that there are no plans whatsoever, within and outside the bank, for the immediate or near-term introduction of new currency or reintroduction of the Zimbabwe dollar into our system,” he said.

“It may be the wishes of some stakeholders in debates, and this is a free country where freedom of speech, thought or wish is allowed, that the Zimdollar be returned immediately, but these are just wishes.

“The multi-currency regime will be with us for the foreseeable future and in any case, when the time comes, the local currency will circulate alongside other existing currencies with people exercising their choice of currency to hold.

“Accordingly, market players and the banking community are urged to stop panicking and instead, get on with their boardroom strategies aimed at prospering their companies and selves in the wake of the new political realities, which have been ushered in by the recently-concluded harmonised elections.”