Zimbabwean journalist and filmmaker, Hopewell Chin’ono has said that Zimbabwe heading towards a dark moment which reminds of the 2008 hyperinflationary era.
In 2008, Zimbabwe recorded a record-high 231 million percent inflation rate following the collapse of the local currency that was eventually ditched in 2009 only to be reintroduced last year. Since 2009, the Southern African country had a multicurrency system in place.
Posting on Facebook, Chin’ono said Zimbabwe’s woes are worsened by the collapse of the local industry a situation which forces the country to continue importing from other countries including South Africa. He said:
Zimbabwe’s journey to the horrible past where inflation was King will resume on Tuesday with the discredited Mthuli Ncube local currency being hammered!
Today pharmacies are rating the Zimbabwe Dollar at 80.
It is a blood-bath because Zimbabwe doesn’t produce anything industrial for export!
Zimbabwe has been South Africa’s supermarket for 2 decades now due to ZANUPF’s incompetence and more importantly LOOTING!
The #EvilDispensation is now LOOTING on steroids and as a result, there is NO medication in hospitals!
Some economic experts including American analyst, Professor Steve Hanke are urging the country to redollarise in toto to stop the soaring inflation.
Zimbabwe’s economy became hyperinflationary, again, in 2019 following de-dollarisation.
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