Zimbabwe: We Are All Going Backwards

opinion

THE industrial index had by Wednesday this week gained an impressive 351% on the year-end close of 569 844,08 points. As a result, the market capitalisation of the Zimbabwe Stock Exchange (ZSE) rose from $6,4 trillion to $28,4 trillion.

As with most issues, Zimbabwe dollar values do not mean much on their own without reference to hard currency and/or the inflation rate. Thus at face value this return looks fantastic, but in hard currency terms investors are marginally worse off than they were at the beginning of the year.

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