Prices in Zimbabwe could be 1,000 times higher at the end of this year than they were at the beginning, the IMF predicted on Tuesday.
Harare - Zimbabwe's central bank will issue a higher denomination bank note on Wednesday to cope with the hyperinflation ravaging the southern African country.
There has been no mealie meal in Zimbabwe's second city Bulawayo for the past week.
Poaching by hungry Zimbabweans may escalate after the government closed private abattoirs in a price blitz that has sparked shortages of basic goods...
Zimbabwe's central bank raised on Wednesday the local price of gold nearly 10-fold in a bid to curb smuggling and boost sagging deliveries. The precious metal is the main source of hard currency for the struggling southern African nation, accounting for a third of its export earnings. Producers will get $3 million Zimbabwean dollars per gram ($199.97 at the official exchange rate or about $20 at...
Zimbabwe central bank governor Gideon Gono has warned President Robert Mugabe's government that it risks strangling the already battered economy by banning private fuel purchases in foreign currency.A severe economic crisis many blame on Mugabe's policies has left the southern African state struggling with chronic food, fuel and foreign currency shortages and the world's highest inflation...
HARARE - Zimbabwe may stop publishing inflation data for one year, an effort economists say is aimed at shielding the government from embarrassment over its failure to rein in soaring prices in the economically depressed nation.President Robert Mugabe's government has failed to release inflation figures for May and June -- it usually does so on the 10th day each month -- prompting speculation the...
The government withdrew the licences of all private slaughterhouses on Wednesday, accusing them of defying orders to reduce meat prices by 50 percent in the state's attempts to rein in rampant inflation.Industry Minister, Obert Mpofu, said the Cold Storage Company, part owned by the government, was given sole responsibility for slaughtering livestock, state radio reported.Private abattoirs dotted...
JOHANNESBURG - A regional body wants to rescue Zimbabwe's inflation-ravaged economy by switching to South Africa's currency in exchange for political concessions by President Robert Mugabe, a newspaper reported on Sunday.South Africa's solid rand currency could help stabilise an economic crisis in Zimbabwe where inflation has rocketed to 4,500 percent, South Africa's Sunday Independent...