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Zimbabwe facing chaos with continuous inflation in rise

The Zimbabwe’s inflation rate has exceeded the 1,000% rate in the end of August, going ahead to near 1800% by the end of the year if serious actions are not taken, specialists claim.

A critical lack of foreign currency has affected the country’s ability to pay fuel, food and the other basic materials. The government’s decisions to turn the ownership of the whites’ farms to the black farmers are thought to be the main reason of this chaos as the investors’ confidence in the local currency has gone downhill, fearing this decisions effects on Zimbabwe’s ability to maintain the same agricultural production rate.

Several trade unions and local organizations claim the Mugabe’s government responsible for this crisis, calling it to resign, even though the government has regulated the prices of several basic goods, especially foodstuffs, in an attempt to contain the depression.

The WFP fears that this market dysfunction causes a food crisis, even a famine as “preparations for the 2006/07 agricultural season are underway » (WFP Emergency Report n. 37 – 15 September 2006). Yet 1.4 million people are critically in need of food assistance, and the number is expected to rise if no serious interventions are made.

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