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    Zimbabwe

    Zimbabwe business has shrugged off a directive by the government to freeze prices and has done the reverse, increasing commodity prices after the Zimbabwean dollar was devalued by 1,000 percent. The price freeze ordered by industry and international trade minister Obert Mpofu coincided with a reserve bank initiative to rein in the country’s hyperinflation, officially pegged at 1,…

    By GDB Newsletter // 10 August 2006

    Zimbabwe business has shrugged off a directive by the government to freeze prices and has done the reverse, increasing commodity prices after the Zimbabwean dollar was devalued by 1,000 percent. The price freeze ordered by industry and international trade minister Obert Mpofu coincided with a reserve bank initiative to rein in the country’s hyperinflation, officially pegged at 1,183 percent. (IRIN)

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