A Travellerspoint blog

Inflation in Zimbabwe

I don't know how many of you have been following the political/economic situation in Zimbabwe, but everything there is basically a huge mess, stemming from Mugabe's one-man election coupled with his blatant persecution of the opposition party, the Movement for Demoratic Change, led by Morgan Tsvangirai. Zimbabwe used to be one of the most prosperous countries in Africa, but is now in economic shambles (due to Mugabe's terrible economic policies and overall political turmoil), to say the least. Economists estimate that the current inflation rate is, conservatively, 2.2 million percent. 2.2 MILLION percent. Here in the DRC the inflation rate is between about 30-40%, and I thought that was pretty bad, so I can't even conceive of how an economy could possibly function with such crippling inflation. Oh and by the way, banks have started issuing an 100 billion bill in order to help consumers. INSANE!

Here's the link to the BBC article about it:

http://news.bbc.co.uk/2/hi/africa/7515823.stm

That is just nuts.

Posted by bbrodsky 01:56

Email this entryFacebookStumbleUpon

Table of contents

Be the first to comment on this entry.

This blog requires you to be a logged in member of Travellerspoint to place comments.

Enter your Travellerspoint login details below

( What's this? )

If you aren't a member of Travellerspoint yet, you can join for free.

Join Travellerspoint