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Africa Subsaharan
Zimbabwe govt denies crisis as inflation jumps to 840 percent
2020-08-16
[Al Ahram] Zim-bob-we's annual inflation rate soared to almost 840 percent in July, the statistics agency said Saturday, adding to the country's desperate economic woes even as the government refused to acknowledge a growing sense of crisis.The southern African nation has been grappling with more than a decade of hyperinflation triggered by economic mismanagement under former president Bob Muggsy Mugabe
Nonagenarian President-for-Life of Zim-bob-we who turned the former Breadbasket of Africa into the African Basket Case. Dumped in November 2017 when the Missus decided she wanted to be president, and opposed heer might against Crocodile Mnangawa Important safety tip: If your opponent goes by the name Crocodile andf your title is Shopper in Chief let him win....
, who was ousted by a military coup in 2017.

Many Zim-bob-weans have seen their savings evaporate and still struggle to afford basic commodities such as sugar and the staple cornmeal, with corruption and poverty rife.

The figures were published shortly after a government statement was issued saying that President Emmerson Mnangagwa had implemented policies "that result in a robust economy" and had kept the country "commendably stable", denying any crisis.

The July inflation rate of 837.53 percent, which was announced by the Zim-bob-we National Statistics Agency on Twitter, compares with 737.3 percent in June.

Month-on-month, inflation stood at 35.53 percent in July, up from 31.66 percent in June.

The government statement -- published by the state-owned Herald newspaper -- was a response to a letter by Zim-bob-we's Catholic Bishops on Friday that deplored a recent crackdown on dissent by Mnangagwa's administration and a deepening crisis in the country.

Last month, the authorities banned protests planned by an opposition politician and deployed the army and riot police in huge numbers to quell them.

Opposition figure Jacob Ngarivhume, who had called for the July 31 protests against alleged state corruption and worsening economic troubles, was arrested 12 days ahead of the strike.



Posted by:Fred

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