Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Facebook tracks you, even if you not a user

Read more

DEBATE

Iran deal: Deadline day for nuclear talks (part two)

Read more

DEBATE

Iran deal: Deadline day for nuclear talks (part one)

Read more

DOWN TO EARTH

Agriculture: When farms turn into factories

Read more

FOCUS

Strait of Hormuz: a smuggler's paradise

Read more

THE INTERVIEW

Investigations against pro-Ouattara camp to begin mid-2015, says ICC chief prosecutor

Read more

ENCORE!

Asaf Avidan's Gold Shadow

Read more

THE INTERVIEW

UN Special Envoy to the Middle East: 'I leave the Gaza Strip in an even worse situation than before'

Read more

BUSINESS DAILY

Banding together against music streaming giants

Read more

Zimbabwe faces new record inflation

Latest update : 2008-08-21

The annual inflation rate in Zimbabwe has reached a new peak: over 11 million percent. Prices have multiplied 110,000-fold, a world record.


Thirty to 40%. That’s the daily rhythm the prices increase in Zimbabwe, where the population suffers the consequences of President Robert Mugabe’s economic policies.


First mistake, according to occidental experts: the 2000 land reform and what it did to the agricultural sector.


To revive the economy, the government has tried to freeze the 2007 prices. As a result, the shops are now empty and the population faces food shortages. Opposition leader Tsvangirai says: “There is no more bread, no more meat, no more milk... and no more basic foods.”


After introducing a 200,000 dollar bill, the Zimbabwean Central Bank has devalued by 10 zeros its currency with one dollar bills to replace 10 billion ones.

Date created : 2008-08-21

COMMENT(S)