Home
Zimbabwe inflation now 11.2 million per cent!
The Africa News.Net
Wednesday 20th August, 2008 (ANI)
London, Aug.20 : Zimbabwe's official inflation rate has soared to more than 11.2 million per cent.
The Telegraph quoted Zimbabwe's Central Statistical Office in Harare as saying that inflation in the year to June stood at 11,268,758.9 per cent, a rise of 9,035,045.5 per cent from May.
The monthly inflation rate stood at 839.3 per cent, it added.
The paper quoted John Robertson, an independent economist based in Harare, as saying: "The 11 million per cent they are suggesting seems rather low."
He said that he expects the figure to rise dramatically into the hundreds of millions per cent.
Over the last three and a half months the Zimbabwe dollar has lost a compound 13 per cent a day, he said.
Critics say President Robert Mugabe's mismanagement is entirely to blame for the destruction of a once-thriving economy.
At the end of last month Robert Mugabe's government knocked 10 zeros off the value of the Zimbabwe dollar, issued a new currency, and reintroduced coins, although the latter are already becoming impractical and will be useless within weeks.
 Email this story to a friend
Comments on this story
Gecko
08-20-08, 07:09 AM |
Zimbabwe inflation now 11.2 million per cent!
Please post to Bobby?
Well done Robert, Now you see that communistic Ideals does not prevail? thank you for proofing the western world right? A point that took millions of lives over 5 decades of WAR with North-Korea, VietnamCambodia, Angola, Cuba, Red-China. Gad damit man, Take less drugs and see waht is happening to your country?
|
Anonymous
08-21-08, 03:47 AM |
Gecko;97775:
Please post to Bobby?
Well done Robert, Now you see that communistic Ideals does not prevail? thank you for proofing the western world right? A point that took millions of lives over 5 decades of WAR with North-Korea, VietnamCambodia, Angola, Cuba, Red-China. Gad damit man, Take less drugs and see waht is happening to your country?
please post it to bush and paulson and bernanke too and tell them about the weimer republic and that was not even a communist regime.
Roberts a funny sort of “communist” that hasnt even got rid of all the white farmers yet.but he tries at national independance despite crippling sanctions.
The US is about to double its government debt with the guarantee of interest payments to freddie and fannie bondholders ,not to mention its mounting war deficit interest bills.next step the printing press.Robert can tell them how it works.
|
Have your say on this story
|
 |
 |
- Third tri-nations summit for small business development inaugurated
New Delhi, Nov 19 : With the aim of enhancing co-operation between India, Brazil and South Africa (IBSA) in the field of small industries, the third tri-nation summit for small business development began here today. [read story]
- Greek ship latest victim of Somali piracy
Nairobi, Nov 19 (DPA) A Greek ship has become the third vessel seized by Somali pirates since they took control of a Saudi supertanker over the weekend in their most daring raid yet, a maritime official said Wednesday. [read story]
- Anand Sharma to open seminar on India engaging with a resurgent Africa
New Delhi, Nov.19 : Six months after India held its first summit with African leaders, an international conference is being organised in Delhi from Thursday (Nov. 20) to take a closer look at Africa's economic resurgence, its increasing presence in global affairs and the patterns and impact of the political and economic engagement of external powers in African affairs. [read story]
- South Africa recruits ex-English coach Fletcher for Oz series
Sydney, Nov 19 : South Africa by recruiting former coach Duncan Fletcher, the architect of England's 2005 Ashes victory, as a consultant for the Proteas' forthcoming tour of Australia is expected to escalate tensions further between two teams. [read story]
- New ships seized as supertanker anchors off Somalia
Nairobi/Mogadishu, Nov 19 (DPA) Somali pirates seized two new ships Tuesday as the hijacked Saudi Arabian supertanker Sirius Star anchored near the Somali port of Harardhere, Somali and US Navy officials said Wednesday. [read story]
|
|
 |
 |
|
|
