Zimbabwe

Inflation: Zimbabweans blamed

2008-11-16 14:32

Special Report

Zimplats gets smelter to comply with new laws
Zimplats gets smelter to comply with new laws

Impala Platinum-owned Zimplats says it will pay $690m to modify an old smelter to meet government requirements of having all platinum processed in Zimbabwe.

Harare - Zimbabwe's central bank chief says ordinary Zimbabweans are to blame for the country's crippling inflation.

Reserve Bank Governor Gideon Gono is quoted in The Sunday Mail, a state-owned newspaper, as saying inflation is due to what he calls a "collective failure as a nation" to produce enough, particularly food. He calls on Zimbabweans "to actively play a part in producing for the nation".

Zimbabwe's inflation rate is officially 231 million per cent, the highest in the world.

Government orders to seize white-owned farms starting in 2000 disrupted the economy of what had been the region's breadbasket. The farms were to have gone to poor blacks, but many went to ruling party loyalists. Agricultural production has plummeted. Today, Zimbabwe faces a hunger crisis.

- AP

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