Text Only
Search

Zimbabwe Inflation Reaches 231 Million Percent

09 October 2008

Officials in Zimbabwe report the nation's annual inflation rate rose to a record 231 million percent in July as efforts to create a unity government remain deadlocked.

A depositor scrutinises a new 20,000 dollar bill unveiled by Zimbabwe's central bank in a bid to ease widespread cash shortages in Harare, 30 Sep 2008
A depositor scrutinizes a new 20,000 dollar bill unveiled by Zimbabwe's central bank in a bid to ease widespread cash shortages in Harare, 30 Sep 2008
The state-run Herald newspaper Thursday reports Zimbabwe's Central Statistical Office as saying higher food prices are the primary cause of the growth in inflation.

The news comes as Zimbabwe's main political parties failed again Wednesday to break their deadlock over the distribution of Cabinet posts in a unity government.

Main opposition leader Morgan Tsvangirai told reporters Thursday that former South African President Thabo Mbeki has been asked to step in to help break the deadlock. Mr. Mbeki mediated previous talks between the two sides.

Tsvangirai says the parties are at an impasse, but that the fundamental contents of the power-sharing agreement remain intact. He said he remains confident a deal can be worked out.

Zimbabwean state media has said the parties agree on all but two ministries: Home Affairs and Finance. But the opposition Movement for Democratic Change, MDC, says there is no agreement on any of 10 key ministries.

On Wednesday a negotiator for the ruling ZANU-PF party accused the opposition of jeopardizing the talks by trying to negotiate through public statements.

A power-sharing agreement reached last month calls for ZANU-PF to control 15 Cabinet positions, with the two factions of the MDC getting 16. The MDC has accused ZANU-PF of demanding all of the most important ministries.

Zimbabwe has been without an official government for months following disputed presidential elections. MDC leader Morgan Tsvangirai won the most votes in the first round in March, but pulled out of the June runoff because of alleged state-sponsored violence against his supporters.

The runoff, won by longtime President Robert Mugabe, was dismissed by many nations as a sham. 

 

Some information for this report was provided by AFP, AP and Reuters.



emailme.gif E-mail This Article
printerfriendly.gif Print Version

  Related Stories
Zimbabwean Parties Still Arguing Over Cabinet Posts
Zimbabwe Opposition Dismisses Ruling Party Accusation
UN Appeals For More Humanitarian Aid For Zimbabwe
 
  Top Story
US House Approves Health Care Reform Measure

  More Stories
Iran Lawmakers Say Tehran Will Reject UN-Backed Nuclear Deal
G20: Financial Stimulus Still Needed to Stabilize Economic Recovery
Afghanistan: NATO Strike Kills 7 Afghan Security Members  Audio Clip Available
Israelis Rally for Peace on Rabin Anniversary
Obama Praises Those Who Ended Fort Hood Rampage
Afghanistan Rejects UN Criticism of Karzai
Navy Ship Honoring 9/11 Victims is Commissioned Into Fleet
China's Wen Promises Greater Cooperation With Arab Nations  Audio Clip Available
Pakistan Army: 12 Militants Killed in Recent Fighting
Iraqi Parliament Fails Again to Approve New Electoral Law
Medvedev: Not All Hopes Realized After Berlin Wall Fell
US Disappointed at Breakdown in Honduras Political Talks
Berlin Prepares for Celebrations 20 Years After Fall of Wall  Video clip available
Harnessing Waste Produces Gas for Cooking in Kenya  Video clip available