Zimbabwe’s Economy – Black Friday

Tue, Nov 20, 2007

Business

  • US $1 is now worth ZW $2,000,000 on the black market.
  • Inflation is said to be around 15,000% (independent analysts put it much higher).
  • Is it all a result of Mugabe’s mismanagement and controversial policies?
  • Mugabe recently said that Zimbabwe’s economy would not collapse.
  • What marks the collapse of an economy?

The economy has been spiralling downward for a decade now. Zimbabwe used to be the breadbasket of Africa but now it is in a situation where the average person really struggles to make ends meet. Even if they do manage to get their hands on a bit of money to buy basic commodities it can be a struggle trying to get their hands on them due to shortages. When will Zimbabweans see an end to such conditions?

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