News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*Inflation Hits 290%, Driven By Acute Shortage Of Foreign Currency - Economist Steve Hanke* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ky United States economist and currency expert Steve Hanke claims that Zimbabwe’s inflation rate has reached 290 per cent, making it the second highest in the world after Venezuela. According to Hanke, the major driver of inflation in Zimbabwe is the acute shortage of foreign currency. This shortage has consequently resulted in the huge disparity between the bond note and the greenback. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- Hanke considers the abolishing of the surrogate currency, the bond note, a necessity. He said of Friday: > Zimbabwe’s annual inflation rate measured for today, using high-frequency data, is 290 per cent, a recent high. > … I have been predicting the abandonment of dollarisation has resulted in another inflation surge. If Zimbabwe fails to remove the bond notes from the system the economy will lapse within a year or less. Hyperinflation is still fresh in the memory of the majority of Zimbabweans. As recent as 2008, the local currency plummeted in value, the inflation level reaching 89.7 sextillions per cent according to a report. The government had no alternative then but to abandon the local currency and adopt the current multi-currency regime. *More: NewZimbabwe.com* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
Copy to clipboard
Give us Feedback
Full Name
WhatsApp Number
Feedback
Submit
Feedback