GDP of Africa is 2.5% of the total GDP of the world in 2008, and to be estimated as 2.3% of the world GDP in 2009. It is a tragic reality that the world’s image of Africa is still mainly one of starvation, bloody civil wars and corrupt despots. Yet there is also a general in...
The author reflects on the economic and political crises that would arise in the aftermath of the death of Zimbabwean President Robert Mugabe. The country is mired in political divisions between Vice President Joice Mujuru and Defense Minister Emmerson Munangagwa, exacerbated by endemic corruption in...
"Bob is gone." At the end of November 2017, under intense pressure, Robert Mugabe stepped down as president of Zimbabwe - a position the controversial leader had held for 30 years. Global response to the news was cautiously optimistic. Even within the country, celebration was muted. With the...
Zimbabwe envisions being an upper-middle-income economy by the year 2030. The vision 2030 has infrastructure development as a stand-out pillar upon which it is founded. The vision envisages well-developed, modern, efficient and resilient infrastructure a
All information is presented without opinion, even the stuff I completely disagree with, because we MUST be open to looking at all angles if we want to understand these vastly complex issues. As always, this is a labour of love, but it aligns with an important message ...
The Fed. And then the Fed steps away. ByWolf Richter. This is the transcript of my podcast of last Sunday,THE WOLF STREET REPORT. So now, inflation has jumped by 6.0% according to the Consumer Price Index for Urban Wage Earners and Clerical Workers, or by 5.4% according to the Consumer...
In this example, gold is the medium off account and Zimbabwe dollar is the medium of exchange. What is the “true” rate of inflation? In terms of the definitions above, the criteria 1 through 4 apply to inflation in gold terms, and criterion 5 applies to inflation in terms of Zimbabwe...
Examples of Hyperinflation Hyperinflation is thankfully rare, as it’s a terrifying economic downturn that collapses nations. The most recent examples are Venezuela and Zimbabwe. Venezuelasawprices rise by over 380,000%between 2013 and 2019. Over 4 million people fled the nation as economic refugees...
The ZWD is no longer minted or recognized as the official currency of Zimbabwe: A series of unsuccessful attempts to establish a stable currency followed the cancellation of the ZWD. In April 2024, Zimbabwe began issuing the Zimbabwe Gold (ZiG), its latest attempt to stabilize its currency and...
Hungary experienced hyperinflation after World War II. Prices were rising 207% per day at the peak of Hungary's inflation.6 Zimbabwe Zimbabwe entered a period of hyperinflation in March 2007 that equaled a daily rate of inflation of 98% until early 2009.6The country's hyperinflationary period ...