State of emergency looms in Zim
2008-07-30 12:52
Special Report
Zimbabwean prime minister Morgan Tsvangirai says there has been progress in talks between the country's two political parties.
Zimbabwean President Robert Mugabe says he doesn't expect the US sanctions on his country to be lifted soon.
Harare - Zimbabwean President Robert Mugabe has warned business people that he will impose a state of emergency if they profiteer.
Mugabe made the threat after the reserve bank governor announced he was knocking 10 zeros off the hyper-inflated currency. On August 01, 10 billion dollars becomes one dollar.
Mugabe warned profiteers in a televised address on Wednesday not to "drive us further" but said if they did the government would impose emergency measures.
The new currency was forced because computers, electronic calculators and automated teller machines at banks could not handle basic transactions in billions and trillions of dollars. A 100 billion-dollar note issued last week was not enough to buy a loaf of bread.
- AP