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December 5, 2014

Zimbabwe's #BondCoins: Currency sovereignty or looming inflation?

Twitter users debate government plan to combat lack of small currency denominations.
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MIGUEL CARMINATI/GETTY

Zimbabweans online are debating a new government plan to end shortchanging.

On Monday, the Reserve Bank of Zimbabwe unveiled new "bond coins" that will equal the value of US currency. The US dollar became the most widely used currency in Zimbabwe after 2009, when the country switched to foreign currencies to combat hyper-inflation.

The central bank hopes the introduction of bond coins will ease Zimbabwe's change shortage. In lieu of change, many businesses issue vouchers or give sweets to customers due to a lack of small coins.

On Twitter, Zimbabweans used the hashtag #BondCoins to discuss the new currency. Many criticised the new plan and warned of a return to hyper-inflation

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