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Mnangagwa accused ‘economic saboteurs’, who include corporates and individuals, of sabotaging his efforts to stop the spiralling inflation. Just over a week later, the Reserve Bank of Zimbabwe lifted the ban on bank lending. As of June this year, Zimbabwe’s inflation rate was at a staggering 324%, according to Professor Steve Hanke of John Hopkins University.
In this week’s inflation table, #Nigeria takes the 15th place. On June 16, I measured Nigeria’s #inflation at a stunning 32%/yr, 2x the official inflation rate of 16%/yr. pic.twitter.com/GwjwrrbYZ2
— Steve Hanke (@steve_hanke) June 20, 2022
The Africa Report spoke with Samuel Matsekete, group CEO of Old Mutual Zimbabwe and head of banking portfolio at Old Mutual Rest of Africa, about the president’s short-lived decision.
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