The inflation rate is still rising. In February, the price of a loaf of bread in the country was less than 200,000
What repercussions does this economic crisis have on the rest of the world?
Fortunately for the local Zim’s, the United Nations has stepped up. This week, the UN Word Food Program launched an appeal to 5 million Zimbabweans who are living on less than $2.50 a day. Also, Zimbabwean governments have licensed some merchants to sell goods in U.S. dollars, to address the shortage of basic consumer goods. Customers, used to buying with foreign currency on the black market on in neighboring countries, are now able to buy sugar, flour and rice at the local market.
According VOA, one shopper states, "The maximum that you can get is 20,000 but I checked in the shop, there's stuff going for 400,000 Zim dollars. You have to go to the bank for 20 days without spending a cent then you buy one item. So U.S. dollar is the way to go at the moment."
Despite the current situation, hopefully President Robert Mugabe can continue taking monetary policy action to put