Friday, July 14, 2006

Mugabe says Zim will ride out economic crisis

HARARE (Reuters) - President Robert Mugabe said on Thursday his government was "very worried" about the economy, but predicted Zimbabwe would ride out an escalating crisis he blamed on former colonial ruler Britain.

The southern African country is mired in its worst problems since Mugabe came to power at independence in 1980, with chronic shortages of food, fuel and foreign currency fuelling government fears of possible popular unrest.

Zimbabwe's economy has shrunk by more than a third during a recession which has lasted for eight years, with inflation running at a world record of more than 1,180 percent and unemployment estimated at about 70 percent.

In an interview with a group of journalists, Mugabe rejected charges Zimbabwe was in trouble due to state mismanagement, bad governance and human rights abuses -- blaming instead what he called illegal sanctions championed by London....

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