Float the bond note
already been lost what with bread, orange juice, milk having been officially devalued we can’t keep the fallacy of not having devalued. Floating also aides the use of the RTGS as it gives value despite it not using the 1:1 ratio as explained by the authorities. Let the bond note float and it will reach its equilibrium point and at that level convert all RTGS in FCA nostro accounts from FCA- RTGS. Let’s bite the bullet. The last time we had such the market dollarised without a directive from the responsible authorities and that takes away confidence and trust in the markets.
Zimra obligations With the introduction of FCA-nostro and RTGS allow everyone that is earning and or selling in FCA-nostro to be charged all tax obligations in the same manner they are charging their customers. In addition, such entities have to remunerate via FCA-nostro and in turn their tax obligations in FCA-nostro. Where it is mixed let it be mixed as well to reflect what is going on. By the same token NGOs salaries, tax obligations must be FCA-nostro biased and other obligations based on a floated rate of the bond note. Penalise some imports by levying a correct tax and let it be paid using FCA-nostro transactions. It’s the only way we can sort this mess out. Make borders less porous and close in on financial outflows including illicit transactions.
RTGS balances Most of these balances are institutional accounts as opposed to individual accounts. Where RTGS cannot be accounted for proper taxation equalises all.