Oxford Economic Country Briefings, October 8th, 2007
Highlights and Key Issues
* Although inflation eased to 6,593% in August from over 7,600% in July, this is probably only a temporary respite. In the absence of any serious effort to implement much tighter fiscal and monetary policy and price and exchange rate liberalisation, hyper-inflation will continue - the IMF has suggested that the rate could even reach 100,000% by end-2007. It may take many years to get inflation back to normal levels.
* A ninth successive year of GDP decline is expected this year, with mining output weak and the important tobacco harvest far below pre-land reform leve...
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