May 15, 2019 / 5:00 PM / a year ago

Zimbabwe to rebase economy after adopting new currency - finance minister

HARARE, May 15 (Reuters) - Zimbabwe’s finance minister on Wednesday announced the rebasing of the economy after adopting a new currency and said the economy had grown more than expected in 2018 but would be weighed down this year after a drought and cyclone.

The central bank scrapped the peg between its quasi-currency bond note and electronic dollars against the U.S. dollar in February and merged them into a single transitional currency called the RTGS dollar. (Reporting by MacDonald Dzirutwe; Editing by Janet Lawrence)

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