HARARE: Zimbabwe’s inflation rate soared to 231mn per cent, but the country’s economic and political crisis showed no sign of ending as the opposition yesterday declared a deadlock in power-sharing talks.
More than three weeks after signing a deal with President Robert Mugabe, opposition leader Morgan Tsvangirai declared that no progress had been made in forming a unity government.
But he insisted that he was still confident that the deal could work, and indicated that former South African president Thabo Mbeki could intervene to break the impasse.
“We are confident about the potential of the deal. There is nothing wrong with the deal,” he told reporters.
“In the process of implementation, we have hit an impasse but not on fundamental contents of the deal,” he added.
“We have declared a deadlock and therefore the process cannot move forward except in the presence of the facilitator ... we have asked him to come over and he has said he will come over,” Tsvangirai said.
Mbeki was the facilitator who brokered the deal, which was hailed as a historic breakthrough when it was signed on September 15.
His spokesman was not reachable for comment, but South Africa’s new leadership and major regional groupings have repeatedly voiced support for his mediation.
Tsvangirai defeated Mugabe in a first round of voting in March, but pulled out of a June run-off, citing deadly violence against his supporters.
Under the power-sharing deal, 84-year-old Mugabe remains as president while Tsvangirai takes the new post of prime minister.
But efforts to form the government have bogged down over disagreements about who will control the most important ministries, such as defence, home affairs and finance.
“On the day we signed the agreement, the people of Zimbabwe breathed a sigh of relief and their hopes for a final resolution of this crisis were raised.” Tsvangirai said. “Unfortunately no progress has been made since then to bring the Zimbabwean people to the beginning of the path of recovery. Instead the economic crisis has worsened.
“We now live in an environment characterised by hunger, starvation and we are days away from seeing people dropping dead on the streets.”
The latest announcement on inflation highlighted the collapse of an economy that once exported food to neighbouring countries, but now is dependent on international food aid.
The World Food Programme announced yesterday that it would need another $140mn for emergency aid to feed more than 5mn Zimbabweans facing severe hunger – nearly half the population.
The state-run Herald newspaper said that staggering increases in the price of bread and cereals were the main reason for the jump in inflation, leaving many Zimbabweans unable to afford even basic foods.
“Millions of Zimbabweans have already run out of food or are surviving on just one meal a day, and the crisis is going to get much worse in the coming months,” WFP’s regional director Mustapha Darboe said.
More than 80% of the population is living on less than $2 a day, while the currency – once on a par with the British pound – is in freefall.
The central bank struggles to print new notes fast enough to keep pace the daily jumps in prices.
Tsvangirai said he still hoped to find a solution with the help of a mediator.
“We as Zimbabweans owe it to our African counterparts to ensure that we spare no effort in resolving the outstanding issues,” Tsvangirai said. – AFP
The whole universe went through a phase of inflation, and it survived. Don't worry. Can you imagine that the inflation rate in Zimbabwe is 100.000 percent?
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sashyls, thanks for updating. My number is two months old.
NEWS FROM TODAYS GULF TIMES EDITION
Zimbabwe’s inflation rate hits 231,000,000%
HARARE: Zimbabwe’s inflation rate soared to 231mn per cent, but the country’s economic and political crisis showed no sign of ending as the opposition yesterday declared a deadlock in power-sharing talks.
More than three weeks after signing a deal with President Robert Mugabe, opposition leader Morgan Tsvangirai declared that no progress had been made in forming a unity government.
But he insisted that he was still confident that the deal could work, and indicated that former South African president Thabo Mbeki could intervene to break the impasse.
“We are confident about the potential of the deal. There is nothing wrong with the deal,” he told reporters.
“In the process of implementation, we have hit an impasse but not on fundamental contents of the deal,” he added.
“We have declared a deadlock and therefore the process cannot move forward except in the presence of the facilitator ... we have asked him to come over and he has said he will come over,” Tsvangirai said.
Mbeki was the facilitator who brokered the deal, which was hailed as a historic breakthrough when it was signed on September 15.
His spokesman was not reachable for comment, but South Africa’s new leadership and major regional groupings have repeatedly voiced support for his mediation.
Tsvangirai defeated Mugabe in a first round of voting in March, but pulled out of a June run-off, citing deadly violence against his supporters.
Under the power-sharing deal, 84-year-old Mugabe remains as president while Tsvangirai takes the new post of prime minister.
But efforts to form the government have bogged down over disagreements about who will control the most important ministries, such as defence, home affairs and finance.
“On the day we signed the agreement, the people of Zimbabwe breathed a sigh of relief and their hopes for a final resolution of this crisis were raised.” Tsvangirai said. “Unfortunately no progress has been made since then to bring the Zimbabwean people to the beginning of the path of recovery. Instead the economic crisis has worsened.
“We now live in an environment characterised by hunger, starvation and we are days away from seeing people dropping dead on the streets.”
The latest announcement on inflation highlighted the collapse of an economy that once exported food to neighbouring countries, but now is dependent on international food aid.
The World Food Programme announced yesterday that it would need another $140mn for emergency aid to feed more than 5mn Zimbabweans facing severe hunger – nearly half the population.
The state-run Herald newspaper said that staggering increases in the price of bread and cereals were the main reason for the jump in inflation, leaving many Zimbabweans unable to afford even basic foods.
“Millions of Zimbabweans have already run out of food or are surviving on just one meal a day, and the crisis is going to get much worse in the coming months,” WFP’s regional director Mustapha Darboe said.
More than 80% of the population is living on less than $2 a day, while the currency – once on a par with the British pound – is in freefall.
The central bank struggles to print new notes fast enough to keep pace the daily jumps in prices.
Tsvangirai said he still hoped to find a solution with the help of a mediator.
“We as Zimbabweans owe it to our African counterparts to ensure that we spare no effort in resolving the outstanding issues,” Tsvangirai said. – AFP
The whole universe went through a phase of inflation, and it survived. Don't worry. Can you imagine that the inflation rate in Zimbabwe is 100.000 percent?