RBZ deputy governor says we should introduce $2 and $5 bond coins to prevent externalisation

Deputy Governor of the Reserve Bank of Zimbabwe (RBZ) Kupukile Mlambo has suggested that the country should replace bond notes with bond coins in order to cut on externalisation and to allow the money to circulate in the formal economy. Mlambo who was not speaking in his official capacity said that the country should introduce $2 and $5 bond coins.

Speaking at the Institute of Administration and Commerce (IAC) conference, Mlambo said:

My feeling is that the next bunch of bond notes issued must be bond coins and this is me talking but it’s not official RBZ (Reserve Bank of Zimbabwe) policy yet. We should have $2 and even $5 coins because it is much harder to be found in the streets with a pile of $5 coins than $5 notes.

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