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Zimbabwe Extends Multi-Currency System to 2030


FILE - Tattered $1 U.S. bills are shown at a market in Harare, Zimbabwe, on Oct, 21, 2020. Enterprising traders there repaired the old notes for customers.
FILE - Tattered $1 U.S. bills are shown at a market in Harare, Zimbabwe, on Oct, 21, 2020. Enterprising traders there repaired the old notes for customers.

HARARE (Reuters) - Zimbabwe's government will maintain its multi-currency system, anchored by the U.S. dollar, to 2030, it said on Friday.

The government had previously said that the multi-currency system would end in 2025. This had triggered uncertainty in the banking sector, with some banks refusing to give loans past 2025.

In a government gazette, President Emmerson Mnangagwa repealed the 2019 order which had given 2025 as a deadline.

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