Tuesday, February 21, 2006

Short of cash? Print Money

Mugabe is supposed to have a PhD in economics, but he shows his cluelessness in economic matters again...

Mr Mugabe said his Government would print money to help it ride out its economic problems -- including food, fuel and foreign currency shortages and a 613per cent inflation rate, which he blames on Western sanctions and intermittent droughts.

"Those who say printing money will cause inflation are suggesting that you just fold your hands and say, 'Ah, let the situation continue and let the people starve'," he said.

"The good lord up there has given you a brain and the brain must function, not in a stereotyped manner but in a flexible manner ... so I will print money today so that people can survive."

Mr Mugabe, who last week suggested he was ready to repair relations with Britain, which he regularly accuses of seeking to recolonise Zimbabwe, again said his country's major problems were largely caused by London....

Mr Mugabe's pledge to print money echoed sentiments by Zimbabwe's central bank governor Gideon Gono, who said the bank had printed money to buy foreign currency to pay the IMF....

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