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| Version 1 | Version 2 |
|---|---|
| Zimbabwe inflation reaches 2,200% | Zimbabwe inflation reaches 2,200% |
| (about 2 hours later) | |
| Inflation in Zimbabwe reached a record 2,200% in March amid a deepening economic and political crisis. | Inflation in Zimbabwe reached a record 2,200% in March amid a deepening economic and political crisis. |
| This is the highest rate in the world. The figures had been due for release earlier this month but were delayed. | This is the highest rate in the world. The figures had been due for release earlier this month but were delayed. |
| Zimbabweans spend any money they have as soon as they can, before prices rise even higher. | Zimbabweans spend any money they have as soon as they can, before prices rise even higher. |
| At least 80% of Zimbabwe's population of about 13 million is living below the poverty line, according to figures from the Zimbabwe Congress of Trades Unions. | At least 80% of Zimbabwe's population of about 13 million is living below the poverty line, according to figures from the Zimbabwe Congress of Trades Unions. |
| Devaluation or not? | Devaluation or not? |
| Central bank Governor Gideon Gono said the official exchange rate would remain 250 Zimbabwe dollars to US$1. | Central bank Governor Gideon Gono said the official exchange rate would remain 250 Zimbabwe dollars to US$1. |
| But he announced a new rate of Z$15,000 for some exporters, international organisations, gold miners, tobacco farmers and remittances from expatriates. | But he announced a new rate of Z$15,000 for some exporters, international organisations, gold miners, tobacco farmers and remittances from expatriates. |
| Analysts say this amounts to an effective 60-fold devaluation but this was denied by Mr Gono. | Analysts say this amounts to an effective 60-fold devaluation but this was denied by Mr Gono. |
| "We have not devalued the dollar but sought ways to enhance the viability of foreign currency generators in a sector specific way," he said. | "We have not devalued the dollar but sought ways to enhance the viability of foreign currency generators in a sector specific way," he said. |
| Analysts say Mr Gono is trying to bring more foreign currency into the official economy instead of the black market, where the rate is Z$25,000 to $1. | |
| Exporters claim their businesses have been devastated by this skewed exchange rate. | Exporters claim their businesses have been devastated by this skewed exchange rate. |
| Mr Gono earlier that month said Zimbabwe was suffering from "economic HIV". | Mr Gono earlier that month said Zimbabwe was suffering from "economic HIV". |
| President Robert Mugabe's critics accuse him of destroying what was one of Africa's most developed economies. | President Robert Mugabe's critics accuse him of destroying what was one of Africa's most developed economies. |
| He blames the economic problems on western countries trying to topple him. | He blames the economic problems on western countries trying to topple him. |