Thursday, June 14, 2007

4000 percent inflation and rising

4000 percent inflation and rising
While in a desperate attempt to stem the flow, the Central Reserve Bank remains the largest buyer of foreign currency on the black market.

None of these figures make much impact on the average Zimbabwean. Unemployment now runs at more than 80 per cent, and even those in some kind of formal employment earn less than Z$1m a month. It is estimated that the avarage family of husband, wife and four children needs at least Z$5.5m to pay for basic food and shelter. People live from day to day, from hand to mouth.

The government expects 'major embarrassment' if the present rate is published. What kind of embarrassment will it expect when all semblance of control is abandoned and the country sinks back into the Stone Age? z

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