AfricaBlog: How Low Can it Go? Archives

March 31, 2004

How Low Can it Go?

I saw the headline--"Zimbabe's economy hits new lows"--and wondered just how much lower its economy could possibly go.

Zimbabwe's economic output has fallen by a third in the past five years, the International Monetary Fund has found.

An IMF expert panel has also found that poverty doubled during the period and school enrolment fell to 65%.

The panel also found that inflation has doubled during each of the last three years to reach 600%, while unemployment stands at about 70%.

And we all know that it hasn't truly reached rock bottom yet.

Scary.

Read the story.

Posted by zombyboy at March 31, 2004 07:39 PM

Comments

Zimbabwe is a sinking ship where more than 30% of its citizens have left.They've mostly settled in the UK, aUSTRALIA, New Zealand & the US, the very countries Mugabe accuses of failing to resolve the land issue.This is a blow to Mugabe & I think Mugabe's troubles are only just beginning.His political party is now deeply divided & there is likely to be a BIG leadership wrangle when Mugabe retires end of this year.

Posted by: bla at April 11, 2004 03:22 PM