Information service of the Pontifical Mission Societies since 1927
Harare (Fides Service)- Inflation continues to rise in Zimbabwe. According to the central office for statistics in April the annual rate reached 3713,9%, and the monthly rate is 100%. Experts in economy speak of hyper-inflation and compare the situation in Zimbabwe with that in Argentina, in 1989 when it had an inflation rate of 4923%, or Brazil where inflation reached a peak of 2477% in 1993
Experts of the International Monetary Fund say things will get worse in Zimbabwe and that by the end of 2008 the rate of inflation will be 6.470%. The IMF experts say the government underestimates the situation because half the products used to measure prices are government controlled. “Several operators in the private sector think the real annual rate was closer to 3.000% in February 2007” says an IMF report on Zimbabwe, which estimates that the country's inflation rate is about double the official figure.
The report calculates that Zimbabwe's GNP has dropped by 30% since 1999 because government economic policies created chaos in vital sectors in the economy, farming, public employment, pushing thousands of qualified workers to seek jobs abroad.
Millions of Zimbabweans have sought refuge in nearby countries including some of the homeless caused by operation Murambatsvina, of which May 19 was the second anniversary. During this Restore Order operation launched by the government on 19 May 2005 under the pretext of cleansing the city of black market and illegal housing, according to the United Nations Organisation
the homes of about 200,000 were demolished. Beside the capital Harare, Operation Murambatsvina was launched in Bulawayo, Mutare, Chitungwiza, Rusape, Murehwa, Gweru, Masvingo and Kadoma (see Fides 21 June 2005). (L.M.) (Agenzia Fides 22/5/2007 righe 33 parole 371)
