Fake Bond Notes Are Being Printed In Zimbabwe – Chinamasa

Although the real bond notes have not been circulated yet in Zimbabwe, some Zimbabweans have already begun printing fake bond notes.

This was reported by the Finance Minister, Patrick Chinamasa, as reported in the Chronicle.

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The fake bond notes are counter-effective to getting Zimbabweans acceptance of the “currency” because the “real” bond notes are being considered fake by Zimbabweans. Zimbabweans believe the bond notes will lead to hyperinflation, reminiscent of the pre-2008 crisis in Zimbabwe.

The bond notes are expected to stand in place of the US dollars which the southern African country adopted.

“You may not be aware of this but fake bond notes have been printed to coincide with our release in order to confuse the situation,” the Chronicle reported Patrick Chinamasa as saying.

Fake Bond Notes Are Being Printed In Zim- Chinamasa

“You may also need to know that some people have been going to the people where we put orders for printing and threatening litigation and bad publicity.”

The Finance Minister, however, declined to state how the fraudsters got a hold of the design of the real bond notes.

The governor of the Central Bank of Zimbabwe, John Mangudya, has however contradicted Minister Chinamasa’s statements.

“I can confirm that the bond notes are still with the printers and delivery has not yet been done. No fake bond notes are in circulation, in existence in the market,” Mangudya told reporters at the Zimbabwe International Trade Fair (ZITF) on Thursday.

He added that the bond notes are not being printed in neighboring South Africa or Germany causing many to ponder on the printing location.

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“We signed non-disclosure agreements with the printers and this means that we can’t disclose,” he said regarding the location of the bond note printers.

The bond notes are expected to be circulated later this month.