The Reserve Bank of Zimbabwe(RBZ) has with immediate effect abandoned Bond Notes and coins replacing it with what they called RTGS Dollars.
These “RTGS Dollars” are not tied on the 1:1 rate against the United States Dollars but will instead be sold at a variable exchange rate in the formal banking system.
RTGS dollars will also including RTGS balances in bank accounts.
Presenting the 2019 monetary policy statement RBZ Governor admitted that the continued use of USD has had negative consequences on the economy.
The legal instrument to back the new measure is already done and will be made into law soon, said Mangudya.
Outspoken MDC official, Tendai Biti, announced last week that a new currency was about to be unleashed. Biti who was then dismissed as talking fables warned the Mnangagwa regime that the new money not help Zimbabwe escape its economic crimes “largely blamed on Zanu PF incompetence and corruption”.
Below is a statement made today by RBZ Governor Mr John Mangudya on the new currency:
RTGS, bond notes and coins to be immediately denominated as ‘RTGS Dollars’. The legal instrument giving effect to this has been prepared and will be gazetted soon.
RTGS dollars have become one of the currencies in the currency bucket of the multi-currency system of the economy”. The RTGS dollars shall be used by all entities in Zimbabwe for the purposes of pricing of goods and services, debts, accounting and settlement of transactions
We have put in place measures to maintain stability as we establish an interbank foreign exchange market in Zimbabwe to formalise the exchange of Bond and RTGS with USD and other currencies.
HE HAS FALLEN!!! Sudan’s President Omar al-Bashir has stepped down
Sudan’s President Omar al-Bashir has stepped down and consultations are under way to set up a transitional council to run the country, government sources and a provincial minister said on Thursday.
The minister of production and economic resources in North Darfur Adel Mahjoub Hussein told the Dubai-based al-Hadath TV that “there are consultations to form a military council to take over power after President Bashir stepped down”.
A Sudanese source told Reuters Bashir was under house arrest with a number of aides at the presidential palace.
The army and security services deployed troops around the defence ministry and on major roads and bridges in Khartoum as thousands of people flocked to an anti-government protest outside the ministry, a Reuters witness said.
Tens of thousands of Sudanese marched through the centre of the capital Khartoum in jubilation, dancing and chanting anti-Bashir slogans.
Protesters outside the defence ministry chanted: “It has fallen, we won.”
State television and radio played patriotic music, reminding older Sudanese of how military takeovers unfolded during previous episodes of civil unrest.
Bashir, a former paratrooper who seized power in a bloodless coup in 1989, has been a divisive figure who has managed his way through one internal crisis after another while withstanding attempts by the West to weaken him.
Sudan has suffered prolonged periods of isolation since 1993, when the United States added Bashir’s government to its list of terrorism sponsors for harbouring Islamist militants. Washington followed up with sanctions four years later.
Bashir has also been indicted by the International Criminal Court (ICC) in The Hague over allegations of genocide in Sudan’s Darfur region during an insurgency that began in 2003.
The latest crisis has escalated since the weekend, when thousands of demonstrators began camping out outside the Defence Ministry compound in central Khartoum, where Bashir’s residence is located.
Clashes erupted on Tuesday between soldiers trying to protect the protesters and intelligence and security personnel trying to disperse them. At least 11 people died in the clashes, including six members of the armed forces, the information minister said citing a police report.
Since December 19, Sudan has been rocked by persistent protests sparked by the government’s attempt to raise the price of bread, and an economic crisis that has led to fuel and cash shortages
Opposition figures have called for the military to help negotiate an end to Bashir’s nearly three decades in power and a transition to democracy.
The demonstrators at the Defence Ministry had said that they wanted to submit a petition for the armed forces to take their side in their attempt to remove Bashir and his Islamist-backed administration.
NUDE PROTEST!!! Gugu Ncube to appear in court on Thursday
Gugu Ncube is expected to appear in the Pretoria Magistrate Court on Thursday, after staging a nude protest at Unisa on Wednesday.
Ncube said she was protesting naked because “nudity is a sign of my dignity that l have been stripped of”.
This refers to allegations that she was “unlawfully manhandled” at Unisa for reporting her boss to the university. She alleged that her boss was asking for sexual favours in exchange for her job.
Ncube donned black underwear and a red top, holding a placard in front of her, when she was arrested.
Unisa said the matter was between her and Unisa Centre for Early Childhood Education (UCECE), an external company that was previously sponsored by Unisa.
The university further said it followed due processes regarding Ncube’s sexual harassment complaint in 2018, and suspended its staff members who were accused of the crime. The accused were board members at UCECE at the time.
(Compiled by Nica Schreuder)
Outage hits Facebook and Instagram users worldwide
Facebook and Instagram users lost access to the social network’s applications in parts of the world Wednesday as a result of an outage of undetermined origin.
The California giant which has more than two billion users acknowledged the outage after users noted on Twitter they could not access Facebook or had limited functionality.
“We’re aware that some people are currently having trouble accessing the Facebook family of apps. We’re working to resolve the issue as soon as possible,” a Facebook statement said on Twitter.
A short time later, Facebook indicated the outage was not related to an attack aimed at overwhelming the network.
“We’re focused on working to resolve the issue as soon as possible, but can confirm that the issue is not related to a DDoS attack,” Facebook said, referring to what is known as a distributed denial of service cyber strike.
According to the website downdetector.com, outages were heaviest in North America and Europe, but some users appeared to be affected in other regions.
Last November, a Facebook outage was attributed to a server problem and a September 2018 outage was said to be the result of “networking issues.”