Zimbabwe central bank has ‘little choice’ but to increase bond notes

Zimbabwe bond note

The Reserve Bank of Zimbabwe’s (RBZ) decision to more than double the size of its bond-note programme to $500 million suggests the country is heading towards “de jure de-dollarisation”, according to research by an arm of rating agency Fitch.

“We do not believe the RBZ’s latest expansion marks the end of Zimbabwe’s experiment with bond notes,” BMI Research warns.

BMI acknowledges the troubled African economy is likely to benefit from an increase in tobacco production and gold prices in the shor

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