Zimbabwe shelves currency plans
Zimbabwe's central bank chief said he has shelved plans to introduce a new currency in a bid to rein in galloping inflation and wants to direct efforts towards increasing supply of goods and services.
Central bank governor Gideon Gono told the state-run Sunday Mail that the launch of the currency will not be anytime this year.
"Although all the preparations are in place, the launch is not until next year," Gono said.
"Some people have already burnt their fingers by trying to offload the Zimbabwe dollar for the greenback at ridiculous rates. They thought they were beating the governor, but tough luck.
"What I can say is, relax guys. But at the same time, the country should be on high alert for only the Reserve Bank of Zimbabwe and its principals know when the lightning bolt will strike."
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