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*Churches Demand Apology From Mangudya Over Bond Note Fiasco* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?wr Church leaders under the Zimbabwe Council of Churches (ZCC) banner have demanded that Reserve Bank Governor Dr John Mangudya apologise for lying to the nation that the bond note was equal to the US dollar. The church leaders met Mangudya on Sunday to share their views on the Central Bank’s Monetary Policy Statement issued last month. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- A statement issued by ZCC reads in part: > The banking public believed that they were holding to US$ accounts over the past 9 years and the true value is lost as the bank balances are now in RTGS dollars. > It is the public’s opinion that bond notes yielded unintended impacts such as parallel market conversion rates that eroded people’s bank balances. > Thus, the church is concerned by the introduction of the RTGS Dollar as the preferred currency in the context of weak economic fundamentals. > Public acknowledgement and apology for such failures are important to bring closure to these issues and restore institutional trust. > Political polarisation, lack of independence of the central bank, ineffective communication, lack of public awareness and lack of stakeholder consultation. > … We are further concerned by the contravention of the Constitution and RBZ Act in relation to contraction of loans and government borrowing from the Reserve Bank of Zimbabwe. *Related:* *Mangudya Mocks Mthuli, MPs, Says They Are Ignorant* *Govt Will Not Sell Forex At Black Market Rates- Mangudya* *More: Newzimbabwe.com* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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