Monday, July 7, 2008

4.1 billion dollars in 2 weeks: The New Rate of Inflation

Ah yes, Zimbabwe takes center stage in my brain. Again....
I got an email from a group working in Zimbabwe and some of the happenings are even more startling that what is being said in the news media.

· The salary level for teachers and principals cannot possibly keep track with inflation. Last month a principal received his salary. It was only enough to buy 4 bananas!! It is very understandable that the staff of schools are not present to teach the children.
· Cornelious was called in the night to take one of the caregivers to the hospital. When he arrived, he found there were no doctors present at this major hospital.
· Two weeks ago (the week we left South Africa for a 5 week trip to the States), the Zimbabwe dollar fell from 2 billion Zim dollars for 1 US dollar, to 6.1 billion Zim dollars for 1 US dollar. And that was within just one week!
· The March presidential election, and the following runoff election of June, has left the country with Mugabe sworn back in as president, but not recognized as legitimate by many of the world’s major leaders, including many in Africa. Some African figures have called for armed intervention. The nation continues in painful limbo.

6.1 billion dollars to 1 U.S. dollar. 4.1 million dollars in inflation in one week. It is understandable that four bananas is not enough to feed a family.

Other than removing Mugabe from power (which I support!), how can we help stabilize the economy and restore aid to Zimbabwe?

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