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Zimbabwe: December 13, 2007

Tyranny Reigns in Zim

Once a regional breadbasket, Zimbabwe has grappled with rampant inflation during seven years of recession. Shortages of foreign exchange, fuel and food have been widely blamed on mismanagement by the government of President Robert Mugabe.

On a monthly basis, the consumer price index rose by 18.6 percent, according to the Central Statistical Office (CSO).

The central bank has forecast inflation to rise to between 700-800 percent by March before it starts to slow down, although some analysts say Zimbabwe could for the first time record four digit inflation figures this year.

Its inflation rate is one of the highest in the world.

"The whole of housing expenditure, education and food and non-food items have contributed more to the annual inflation figure," CSO acting director Moffat Nyoni told journalists.</blockquote>Few countries have been so devastated by the policies put in place by one man.  Mugabe, who last year denied the obvious widespread food shortages, now blames the country's economic nightmare on others:<blockquote>Mugabe denies charges that his policies are responsible for the economic crisis, maintaining the economy has been sabotaged by Western powers opposed to the seizures.</blockquote>His lies are apparent - inflation results from <strong>government</strong> creation of money. 

Despite all of this and much more, President Robert G. Mugabe's party nominated him as its candidate in the presidential election in March.

Posted by tim at December 13, 2007 10:08 PM

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