ZINASU Statement on bond notes

ZINASU STATEMENT ON BOND NOTES.

The once Zimbabwean currency with was dumped after hyper inflation.

The falcon can not hear the falconer.

The public announcement by the central bank governor Mr John Mangudya on Saturday that the back door brought, dubious and surrogate currency known as the bond note will be on a fully fledged usage in the economy with effect from today ( Monday 28 November), this has been received in a state of a myriad of feelings, uncertainty , in fact ambivalent feelings on whether to endorse or to castigate and reject the move into the dustbins of political nuisance.

Zimbabwe National Students Union (ZINASU) notes the developments, consulted specialists and prognosticated the future impacts, however its beyond any reasonable shadow of political, economic and social doubt that the hiring of an economist or an otorhinolaryngologist is inconsequential and petty, as the bond notes` effects have already started to surface and are mathematically manifesting in the form of shortages, panick buying, and loss in value of the bond money coupled with circulation of fake notes.

At the epicentre of the brand-new reality, is the structural failure by ZANU –PF to prevent the colossal collapse of the economy, since 2012 the economy has been crumbling at a geometric rate evidenced by a receding GDP from its record high of 11.9% in 2011 to 2.3% in 2014 to the expected -1.8% in 2015,-3.8% in 2016 and an expected -5.2% in 2017, a deficit in the current account to the tune of exceeding GDP by more than 15%, high unemployment of over 90% and a serious budget deficit standing at a staggering US$1 Billion in 2015, this is evidence that our government has reached a gridlock, a complete shuttdown.The reason as to why the government has gone this far is because they have failed to admitt that they have failed on the face of the selectorate, failed to pemitt a new people driven government to take over and allow citizens to participate in the decision makig process, contrary gripping on power and dissolving any sugestion into thick air has become the order of the day.

The gap between the haves and and the have-nots on the gini coefficient is widening and shifting towards 1.Where is minister...............of small................., to rescue his constituenccy.The introduction of the bond note will ony give an opportunity to the well established and politically connected monopoly capital, big retailers, whole salers, fuel suppliers and service stations who have access to foreign currence to trade whilst suffocating small and growing businesses.This will not only affect the people of zimbabwe, but undermines the much touted Indiginisaion policy and ZIMASSET, this is made possible by the legal beurocaracy imposed by the government, you need an importers license to get forex from the monetray authorities, small businesses, vendors, small holders, zimbabweans going for holiday outside and students studying abroad will be thwarted and technicall segregated by this. Cry my beloved informal sector, for this sector consists of more than 80% of the enclave dual Zimbabwean economy.

ZANU PF must stop regular big stouting,suyaing,grandstanding and peppersouping for these are not real issues, they must be prepared to immense themselves in societal dialectics, ZANU PF oficials must discipline their flesh, must conquer their flesh and think if a Zimbabwean student, studying abroad who does not posses an import license, but needs foreign curence in the pursuit of education.ZINASU says “nada”, we are now prepared to advance to where the hand of justice has proven too short to reach.

The illegal, black market forex exchangers have already started sucking and dupping suspecting and unsuspecting citizens by deffying the so called legislated exchange rate of 1:1 reverting to a 1:0.70 , meaning a 30% loss in value in less than 4 hours from introduction.The introduction of the bond note is an agrravation, an excerbation and a reinforcement of the illegal and widely repudiated SI64 of 2016, enacted by our government in uly of 2016, the nett effect of these two is to stop the commoners from importing and making importation of a few priviledged and politically connected "Mpokos".

The Zimbabwean economy is marred in a deep seated economic phantasmagoria of liquidity crisis, deflation and low productivity compounded by high unemployment. Ust like the rising import bill through the barring of imports through an extra legal Statutory Instrument 64 of 2016 which has not worked and has merely forced traders to resort to massive corruption, nepotism at Zimbabwe`s border posts, the crisis of the bond note will not ressolve but rather worsen the situation and encourage pre-bendalism, coruption and nepotism .Companies will continue to shutt down and students will continue to suffer from shortage of attachment places, high deffering levels, loss of confidence and irrelevant attachments.

The centre can not hold, things have fallen apart, bond notes have arrived and are already circulating, the nation is in a panick mode, grippled with fear and cluelessness, thnaks to Robert Angel Gabriel Mugabe for his mercilessness and ruthlesness, for he has no face to hide or a heart to shame.

ZINASU NATIONAL SPOKESMAN

TRESURE BASOPO BASOPO