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Crisis-Wracked Zimbabwe Plans Stock Exchange in Victoria Falls

Godfrey Marawanyika

(Bloomberg) --

Crisis-wracked Zimbabwe will open a stock exchange in the resort town of Victoria Falls, according to its finance minister.

The Victoria Falls Stock Exchange will be denominated in foreign currency and aimed at “foreign investors and global capital, especially the mining sector,” Mthuli Ncube said on Twitter.

It will be managed by the Zimbabwe Stock Exchange, which operates the country’s main bourse in Harare, Ncube said.

The nation has suffered foreign-currency shortages for years, which have hammered its economy. Gross domestic product contracted 8.3% last year and will slump another 7.4% in 2020, according to the International Monetary Fund.

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