Southern Friends

Further Economic Meltdown in Zimbabwe

‘The highest value note that will go into circulation on Friday is worth 10 million Zimbabwean dollars. But that is worth less than U.S.$3.90 on the black market…. There have been long lines every day at banks as people have struggled to withdraw cash. The government’s only response is to print more money – and that is seen as the main reason for the hyperinflation…. Land ownership is at the heart of Zimbabwe’s current problems. The opposition says that Mugabe’s seizure of white-owned farms that began in 2000 has destroyed what was once among Africa’s most developed economies….’

Click here to read the news report (audio reports are also available at this link)

Click there to read ‘Zimbabwe Cities Hit by Power Cuts’