Wednesday, 9 November 2016

BOND NOTES WILL ONLY SERVE GOVT INTERESTS : CSOs

CIVIC organisations have said the introduction of the proposed bond notes to alleviate the cash shortages will only worsen the economic situation in the country, rather than add value to the economy.

The civic organisations met in Harare on Monday to deliberate on government’s proposal to introduce the surrogate currency. The meeting was attended by several CSOs among them Crisis in Zimbabwe Coalition, Zimbabwe Human Rights Association, Zimbabwe Women in Politics Alliance, Tajamuka, Rural Teachers’ Union of Zimbabwe and Restoration of Human Rights.

ZimRights director, Okay Machisa said the bond notes would only serve the interests of the government. “The government is turning itself into a technical thug by bringing bond notes to the people because these notes will only serve their interests, not for the people,” he said.
“We (civic organisations) have a duty to play; we have to save the community from being robbed by the thieves who come in the form of a government.”

Machisa said bond notes would only cover up what had been stolen by the government, citing the Zimbabwe Manpower Development Fund scandal in which Higher Education minister Jonathan Moyo and his deputy, Godfrey Gandawa, are accused of siphoning over $400 000 as an example.
Labour and Economic Development Research Institute of Zimbabwe director, Godfrey Kanyenze said bond notes would not solve the challenges facing the country, but rather worsen the situation.
“The introduction of bond notes shows the fiscal indiscipline that has been responsible for all this corruption and pillage is back,” he said.
Kanyenze said that the introduction of bond notes would not solve the real problems, but symptoms.
“We are all aware that the economy was actually never centred on people. The bond note is a desperate attempt,” he said.
Zimbabwe Women in Politics Alliance director, Linda Masarira said: “Only the ordinary citizens will suffer because once this ‘surrogate currency’ starts circulating, the 2008 situation will return.”

Crisis in Zimbabwe Coalition director, Memory Kadau said her organisation would continue providing timely responses to the national crisis, as it unfolds, hence, the decision to convene civil society to come up with a shared and common position on the issue of bond notes.
“What is of importance is to note that the introduction of the bond notes should not be seen in isolation of the broader challenges facing the country, but as a microcosm of existing structural challenges within our political economy and governance architecture, which is characterised by centralism,” he said.
“Our movements and citizens have been clear on this bond note issue and have cited the untrustworthy nature of the State and government. Today we have reaffirmed our position that we will stand together as citizens and campaign for radical shifts in the economy and politics of this country.” newsday

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