Word: inflationitis
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Nevertheless, no SADC leader has yet joined the worldwide chorus of condemnation of Mugabe nor echoed accusations that he is attempting to steal the vote. There is little expectation that the organization will reverse its stand on Mugabe this time around, not least because SADC often bridles at any kind...
INFLATION
Sky-High Staples Food prices have surged in the past few years, and in recent months inflation has sparked riots, hoarding and economic sanctions around the globe. A look at the rapid increases of some local necessities in the past year:
In 2000, amidst opposition cries of rigged elections, Mugabe launched a dictatorial land reform that obliterated productivity. But rather than benefiting disenfranchised black peasants, the program left Mugabe’s inner circle of political allies with much of the land. With the main source of hard currency in shambles...
Although it remains far from Weimar Republic levels, inflation in Zimbabwe today hovers around 10,000 percent annually. The same political favorites that control seized farms, however, can still get American dollars at the official rate, making instant and gargantuan profits. As in any inflationary crisis, middle and lower class...