Business Politics

ZIMBABWE’S HARD TIMES OF HYPERINFLATION.

Peter Munyanyi
Written by Peter Munyanyi

In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. Zimbabwe has suffered from hyper-inflation since the US dollar become scarce within the economy. Prices typically remain stable in terms of other relatively stable currencies.

Zanu PF government has caused untold misery of Zimbabweans since 1990 before ZIDERA and any sanctions were put in place. ZANU-PF would have the world believe that all the country’s problems have been caused by sanctions, and not its own economic mismanagement and brazen corruption.
It has been noticed that after 30 July 2018 elections companies threatened to shutdown e.g NATIONAL FOODS, DELTA BEVERAGE. Some have closed impending foreign currency shortages in the country .

Zimbabwean companies are increasing their prices due to the exchange rate. Most of the companies use raw materials from other countries and they don’t export it in bond which is our main currency, they use the USD that is why the prices of many goods have been raised due to exchange rates to maintain their profits.
The RBZ has failed to provide USD currency for companies that is why we noticed on one time pharmacies demanding USD from the patients.

Monica Mutsvanga she said,


most our industrial goods supplier and services in the country are raising their prices because of the exchange rate at the black market


The government can not control rates through word businesses and companies are taking the black market exchange rate unwillingly. They are forced to deal with the black market because they have no other USD currency supplier, the available sources of money are outside sources.
It would have brought black market to the end of if the USD was supplied to the companies from banks where exchange rate is reasonably controlled.
If the government lets black markets exist, they will dance according to the tune of their exchange rate and by no means they can control it.
They can try to chase money changers from the CBD but they is always another way for them to exchange money.

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