Zimbabwe enters punishing hyperinflation episode, says world economist

Renowned world economist Steve Hanke says Zimbabwe has entered another punishing hyperinflation period, and calls for Finance minister Mthuli Ncube’s sacking.

“Finance Minister Mthuli Ncube should be charged with murder for sending the ZWD to its grave.

“Zimbabwe has officially entered into another episode of hyperinflation. Its monthly inflation rate has exceeded 50% for the last 30 days.

“Today, it sits at a whopping 194%. An avoidable disaster, if only Zim. had officially dollarized, as it did from 2009-13.

“It’s the 3rd in 15 yrs. The one and only way to resuscitate the ZIM economy is IMMEDIATE DOLLARIZATION,” he says.

Hanke who is also Applied Economics Professor at John Hopkins University says there is no end to Zimbabwe’s economic woes except dollarisation.

“There is no end to the economic disaster that is #Zimbabwe. Now, it adds hyperinflation to the mix.

“Zimbabwe clocks in as the WORLD’S MOST MISERABLE COUNTRY in the Hanke 2022 Annual Misery Index. Zimbabweans can blame the Zanu-PF party’s monetary mismanagement for their misery,” he adds.

His comments comes at the time the local currency continues to lose weight even on the official market.

Zwnews