Zimbabwe may axe bond note scheme – finance minister

Zimbabwe bond note
A bond note - theoretically worth two US dollars

Zimbabwe’s incoming finance minister has raised the prospect of major currency reforms, including an end to the country’s unpopular bond note scheme.

“I am very clear there have to be currency reforms and the (current) currency approach is not working,” Mthuli Ncube told Zimbabwe’s state-owned Sunday Mail newspaper.

The former African Development Bank official outlined three possible reforms, including joining the rand monetary area, reinstating the Zimbabwean dollar, and gradually phasing out

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