Zimbabwe Slides Back Towards 2008's Economic Chaos

11 October 2018

Zimbabwe's economic meltdown continued on Wednesday as several shops closed down, while those that remained open want to raise prices in defiance of a threat by the government.

This comes as new measures were implemented, including the subtle re-introduction of the local currency and a steep hike in taxes, which will lead to a rise in the cost of living, a loss of savings and shortages of basic commodities. These were all characteristics of the 2008 economic implosion, which left the country with a record high inflation rate of about 89 sextillion percent.

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