The new rate, a halving of the Zimbabwe currency's value in just 10 days, came as the government of this southern African country announced another surge in the inflation rate, already the highest in the world.

The new rate, a halving of the Zimbabwe currency's value in just 10 days, came as the government of this southern African country announced another surge in the inflation rate, already the highest in the world.

The state central statistical office said September's inflation heated up to an annual rate of 7,982 percent -- meaning an eightyfold jump in prices over a year. The official rate was 6,592 percent in August, but independent estimates put real inflation closer to 25,000 percent.

Demand for foreign currency is soaring as people scramble to acquire cash that they can use in neighboring nations to buy cooking oil, soap and other basic goods that are increasingly hard to find in Zimbabwe.

Currency dealers said the central bank has added to the pressure by also buying on the black market, because the government needs hard currencies to pay for imports of food, electricity and gasoline.

The result is a big jump in the US. dollar's exchange rate against the Zimbabwe dollar. $1usd to 1,000,000 zim dollars
The country's biggest single source of hard currency is the money sent home by the estimated 4 million Zimbabweans -- one-third of the population -- who live and work abroad because of the economic slide.

Zimbabwe had one of Africa's strongest economies before the government's seizure of white-owned farms wrecked the agriculture sector. The result has been severe shortages of food in a nation that was once the region's breadbasket and Africa's second-largest exporter after South Africa

http://edition.cnn.com/2007/WORLD/africa/10/18/zimbabwe.currency.ap/index.html

I knew and said over and over that the chasing of those farmers out was a bad idea. I hope Zimbabwe recovers from this problem soonest.

I knew and said over and over that the chasing of those farmers out was a bad idea. I hope Zimbabwe recovers from this problem soonest.

This is a failure on AFRICA COUNTRIES!

You think anyone we mess with WESTERN countries; sanction etc?

Until we learn to be each other brother's keeper; africa is doomed.

babasin:

This is a failure on AFRICA COUNTRIES!

You think anyone we mess with WESTERN countries; sanction etc?

Until we learn to be each other brother's keeper; africa is doomed.

I did not understand your post at all @babasin

brothers keeper indeed

he is suggesting we 'rally round' and 'support' Mugabe against the 'colonialists' and 'external aggressors' in 'African Solidarity'

while the innocent people of the country continue to suffer.

The economic downfall is solely due to the mismanagement of the economy by Mugabe, not sanctions.

The economic downfall is solely due to the mismanagement of the economy by Mugabe, not sanctions.

you sure dont read all the details.

Nigeria is next! Woe unto the black skin. Just imagine? We are sinking deeper and deeper into "you know what"! All we can do is pray to "Godot" I guess! Have faith people, have faith!

debosky:

brothers keeper indeed

he is suggesting we 'rally round' and 'support' Mugabe against the 'colonialists' and 'external aggressors' in 'African Solidarity'

while the innocent people of the country continue to suffer.

The economic downfall is solely due to the mismanagement of the economy by Mugabe, not sanctions.

uumm, If that be the case, Being my Brother's Keeper would mean pointing the truth out to my brother @Babasin

Only God will save us in Africa

With all these, Mugabe still doesnt want to go. What a shame! That man ran out of ideas long ago and he didnt know when to say "I've finished my course". I have never heard of this kind of inflation rates in my life!

When a leader goes to places like UNO General Assembly and AU meetings and is sleeping there, then we shouldnt expect miracles from such a leader. Here are the facts:

Only God will save us in Africa

you gotta save yourselves.

uumm, If that be the case, Being my Brother's Keeper would mean pointing the truth out to my brother @Babasin

what is the truth? end of the day; its BLACK FACES suffering there. It rubs on all of us.

who is the weeping race: BLACKS. so when I will working together and ensuring we progress?

US + RUSSIA always at logger heads; but behind the scene they work together.

Whats stopping Nigeria sending PETROL to that country? Value the cost and Nigeria get choice area in that country?

Not only in Zim, even ECOWAS has failed to move forward.

The Current situation in zimbabwe is not due to the sanctions imposed on them but the corrupt govt policies imposed on them by Mugabe. I think he is selfish and wicked to his people. He started well but he has to think like Fidel Castro who employed the ideas of Economists on Capitalism and communism, relied on the basic principles and created his policies to favour Cubans now the Cuban cigars are the the best in the world.

babasin:

you gotta save yourselves.
what is the truth? end of the day; its BLACK FACES suffering there. It rubs on all of us.

who is the weeping race: BLACKS. so when I will working together and ensuring we progress?

US + RUSSIA always at logger heads; but behind the scene they work together.

Whats stopping Nigeria sending PETROL to that country? Value the cost and Nigeria get choice area in that country?

Not only in Zim, even ECOWAS has failed to move forward.

Has Nigeria saved itself with the same oil?? If your own house is burning, do you leave it and go help your neighbour with the water you have instead of trying to put yours out first before going over there to put his out?? Zimbabwe does not need your help at all, it first needs to help itself. If you read up on what is going there you might see that the country is the one inflicting it's own self with these many problems just as Nigeria is doing the same to itself over and over. NIgerian NEEDS TO HELP ITSELF FIRST before it starts running over to become ECOWAS's Saviour!

zimbabwe need to start afresh

Being our brother's keeper doesn't mean helping Mugabe. Mugabe isn't our brother. He's more like our grandfather's boss at work.

We need to help the Zimbabweans by kicking out Mugabe and also exporting food stuff and other goods and services to Zimbabwe.


What people do not realise is that the EU, USA and Australia are actually putting some major economic sanctions on Zimbabwe under the table.


Shey all the white farmers have moved from Zimbabwe to Kwara State, Nigeria? In the past 4 years what improvements have happened in Kwara? They are looking for how Governor Saraki will seize large parcels of land from the locals and hand over to them.

Only God will help us in dis AFRICA esp Nigeria, imagine a country Nija is beta than, then they must be very poooooooooooooooooor(zimbabwe sorry 4 u)