‘Mangudya should resign over failed bond notes’

Source : Newsday.

OPPOSITION parties and civic society groups have called on Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to honour his promise and step down over bond notes’ failure to abate the country’s liquidity crunch.

Mangudya, when he introduced the bond notes last November, promised to resign from his post as governor of the central bank if the surrogate currency failed to mitigate the liquidity crisis in the country.

MDC spokesperson Kurauone Chihwayi yesterday challenged Mangudya to live by his word and resign, as bond notes have failed to stem the cash crisis as envisaged.

He said, instead, bond notes had fuelled a lot of problems for citizens, who are now sleeping in bank queues to get cash.
“We ask Mangudya to honour his promise since the surrogate currency is rapidly losing value within a year of its existence in the market,” Chihwayi said.

The sharp decline in value of bond notes is giving rise to a parallel market, which has resulted in a hike in prices of basic commodities among other goods, a situation similar to the one we witnessed during the 2007-2008 era.

“Zimbabweans cannot be subjected to such a nightmare once more.

Hence, we demand the immediate resignation of the RBZ governor.

Millions of Zimbabweans continue to suffer under the harsh economic crisis, as solutions to those problems remain elusive, with the governor seemingly having completely run out of ideas.”

Ibhetshu LikaZulu secretary-general Mbuso Fuzwayo said: “Zimbabwe is a cursed nation because those whom we have entrusted with governance are comedians. Here, no one has ever resigned for failing. They don’t care. (President Robert) Mugabe can’t allow him (Mangudya) to resign.”

People’s Democratic Party Bulawayo organiser Bekithemba Nyathi said Mangudya was just a symptom of a failed system.

“President Robert Mugabe and his entire apologists must resign to save the country,” he said.

MDC-T Bulawayo spokesperson Felix Magalela Sibanda said: “It was predictable from the outset that the bond syndrome was bound to fail.”

This Constitution leader Abigale Mupambi said no economic measure taken and implemented would work as long as there was this crisis of confidence and legitimacy.

“Mangudya’s demise, however how much it may be welcome and celebrated, will not mend the economy as long as the same failed system remains,” she said.

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