October 3, 2007
The central bank of Zimbabwe has today launched a variation on its existing currency, as part of its wider commitment to tackling the crippling rate of inflation that has left the country in dire economic need.
The currency will in effect reduce the number of zeros on each bank note, after the bank was forced to […]
September 18, 2007
Zimbabwe’s official rate of inflation appears to have slowed over the course of the last month according to government figures released today.
In figures released by the Central Statistical Office, the prime rate of inflation on an annual basis had fallen over the course of August to 6,592.8%, from last month’s official 7,634.8%.
Whilst the official figures […]
September 7, 2007
Zimbabwe has today announced its decision to devalue its currency in a bid to help reverse the desperate economic situation in the country.
From today, the Zimbabwe dollar is now valued at 30,000 to one US dollar, whereas the previous rate stood at just 250 dollars to one US dollar. However, many suggest that currency on […]
August 31, 2007
Zimbabwe has taken drastic steps today in law enforcement as an attempt to bring inflation under control, according to reports from international news agencies today.
President Mugabe has decreed a nationwide ban on price increases in an attempt to keep inflation under control. The move will cover all wage rises and price increases to decrease inflation, […]
August 22, 2007
The rate of inflation in Zimbabwe has gone through the roof, according to figures published by authorities today.
According to recently published figures, Zimbabwe’s inflation crisis spiralled to an almighty 7,638% annual rate of inflation for the month of July - the highest rate of inflation on the planet.
The official report released today was the first […]
August 10, 2007
The West African nation of Guinea has today announced its discovery of uranium reserves in Firawa.
The Government announcement today reflects the first discovery of uranium in Guinea, an element much sought after worldwide with increasing demand as a nuclear fuel.
Information Minister Justin Morel made the announcement on national television, after the discovery was made by […]
August 6, 2007
Russia has today announced the cancellation of the majority of Afghanistan’s outstanding debt, in an elaborate ceremony in Moscow which saw both nations cooperate on a diplomatic level after decades of hostility.
Russia and Afghanistan have agreed to a deal that will see the equivalent of 90% of the nations total outstanding debt cleared, to allow […]
August 4, 2007
The governments of Iran and Senegal have made an agreement to construct a petrochemicals plant and oil refinery in the West African nation of Senegal, a statement issued by the government in Dakar says.
In addition, Iran has also pledged to expedite development of an automobile assembly plant in Senegral that will produce cars for the […]
August 1, 2007
The troubled Zimbabwean economy is preparing to launch a $200,000 note into general circulation, reflecting a new low in the troubled south African nation.
The noted to be issued by the Reserve Bank of Zimbabwe is designed to help tackle inflation, yet at current rates it is only sufficient to buy a 1kg bag of sugar.
July 25, 2007
Zimbabwean President Robert Mugabe has vowed to continue his policy of price control in an attempt to turn around the faltering economy.
The Zimbabwe economy is plunging further into crisis, dramatically affecting the everyday lives of the Zimbabwean people.
The former African model economy is currently suffering from inflation of just under 5,000%, and is experiencing some […]
August 25, 2005
According to the United Nations Conference on Trade and Development, thePalestinian economy has been decimated by the uprising against Israel that began in 2000, and it says that the separation barrier being built by Israel in the West Bank will erode the economy even further. The UN agency said that the Palestinian economy shrank […]
August 16, 2005
The International Monetary Fund said on Tuesday that the continuing violence in Iraq is holding up the recovery of that nations economy. The IMF said that the comeback of the oil industry there, which accounts for three-fourths of the Iraqi economy, has only grown enough for the gross domestic product to grow by 3.7 […]
July 22, 2005
The United Nations has broken their silence on the practice in Zimbabwe of bulldozing urban slums, telling that nation in a report that it must stop the practice that has left 700,000 people homeless or jobless or both and has affected up to 2.4 million more. The report, commissioned by UN Secretary-General Kofi Annan […]
July 8, 2005
The G8 leaders issued a communiqu from their meeting in Scotland on Friday in which the pledge a doubling of aid to Africa to $50 billion per year. They also announced an aid package of $3 billion over the next few years to go to the Palestinian authority. There are conditions attached to […]
July 1, 2005
With a number of other problems facing them, African nations are also having to deal with the consequences of increasing oil prices. This is true in different ways of non-oil producing nations and for the nations that do have oil resources, although the problems are different from the two groups of countries. In […]
June 1, 2005
With an unemployment rate sitting at between 30 and 40 percent, South Africa has begun to look to the call center industry as a solution to this problem as more and more international companies have begun to outsource that portion of their operations. At the present time, South Africa employs approximately 50,000 individuals in […]
March 1, 2005
The IMF has reported that Liberia’s economy began to grow in 2004, after over 14 years of civil war were ended in 2003. Rubber production, domestic manufacturing, and post-war reconstruction were indicated as key factors in Liberia’s recovering economy.However, the International Monetary Fund has warned that coming political change from the transistional national government to […]