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Zimbabwe's Stocks Rise Despite High Inflation - 2002-12-04


The Zimbabwe Stock Exchange says the country’s stock market index has risen by almost 15% in recent days. The economy has been in crisis since President Robert Mugabe adopted a land redistribution program two years ago, driving out some foreign investors. But the head of the stock exchange says the market is defying Zimbabwe's wider political and economic chaos and is moving towards growth. The head of research for a Zimbabwe stock brokerage, who preferred to remain anonymous, told English to Africa reporter Josephine Kamara there is what he calls “a semblance” of progress in the country’s stock market only because it’s adjusting to reflect the level of inflation.

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