22 February 2008

Inflation passes the 100,000% mark in Zimbabwe

The official rate of inflation in Zimbabwe gone past the 100,000% barrier, according the the state central statistical office. The nation with the next worst inflation is Iraq with a rate of around 60%. In a brief statement, the statistics office said inflation rose to 100,580% in January, up from 66,212% in December. The new official figure is below the rate calculated by independent analysts - approximately 150,000%.

Zimbabwe, a former regional breadbasket, is facing acute shortages of food, hard currency, gasoline and most basic goods in an economic meltdown blamed on disruptions in the agriculture-based economy after the seizures of thousands of white-owned commercial farms began in 2000, accompanied by political violence and turmoil. Economic hardship is a key issue in national elections scheduled for March 29. Inflation, food shortages and the crumbling of power, water, sanitation, roads, phones and communications and other utilities have fuelled deep divisions in the ruling Zanu-PF party.

Gross domestic product in Zimbabwe fell from about $200 in 1996 to about $9 a head last year.

Nice one Mugabe


SnoopyTheGoon said...

Is there something he didn't yet destroy in the country 'fore he goes (to hell, I hope)?

jams o donnell said...

He's definitely someone for whom there should exist an unpleasant afterlife!

Roland Dodds said...

You know, I think the money I created as a child is actually worth more than Zimbabwe’s currency. I foresee illegal shipments of Monopoly money hitting the streets of Harare soon if things continue as they are.

elasticwaistbandlady said...

All 3 American Presidential Candidates have big plans to make America Taxation Nation. Meanwhile the dollar is falling, and falling fast against the strength of the Euro.

Can me and the mini-Infidels come and live with you, jams? I make really good black bean Vegan burgers!

Anonymous said...

It's nice to see that there are others out there who are actually aware of what is happening in Zimbabwe. Great post.

K T Cat said...

I've been watching the news from Zimbabwe since Mugabe began forcing the white farmers off their land. Things weren't so bad way back then. His redistribution thuggery has totally obliterated that nation. I wonder if that's the lesson that will be drawn from this or if any lesson will be drawn from this.

Maybe the Marines will be sent in to clean up an uncleanable mess just like the went into Somalia.

Meanwhile, Mugabe's buddies in South Africa still support him. What I've never understood is why the opposition in Zimbabwe never turned violent.

beakerkin said...


This post shows why I respect you and
not some others. The situation in Zimbabwe has a cause. The cause of this suffering is Marxism. Many on the left pretend that the cause is something else.

Mugabbe is a thug who stole property that did not belong to him. He took productive farmland on racial grounds and handed it to cronies. Zimbabwe starves essentially to feed an over sized
ego of a tyrant.

You are starting to see the start of this in Hugo's blunder land.

There are genuine models of helping
the poor without resorting to property theft, class genocide and cult of personality.

jams o donnell said...

Only if you print higher denominations Roland!

I try to keep an eye on what's going on byrningbunny. It is an appaling state of affairs.

What Mugabe did was stupidity of the highest order KT. It destroyed the agricultural sector, I'm surprised and releived it hasn't turned violent so far.

I believe that marxism is dead in the water as an ideology. THat aside Mugabe is an old tyrant who must go for the sake of Zimbabwe,

beakerkin said...


It starts with respect for private property and citizens. Building a stable country is quite easy

1 Political Stability
2 Respect Private Property
3 Educate your people
4 Keep corruption to minimal levels
5 Independent judiciary.

jams o donnell said...

I'll go with those Beakerkin