Annual inflation in Zimbabwe hit a record 231 million per cent in July, with basics, such as a loaf of bread now costing more than £22 (Z$7,000). Skip related content
There is now pressure on the ruling party and opposition to break a deadlock in negotiations and form a cabinet that can rescue the ruined economy.
President Robert Mugabe's ruling Zanu-PF party and the opposition MDC again held more unsuccessful talks to end stalled power sharing negotiations on Wednesday, frustrating Zimbabweans who hoped new leadership would bring relief from hardship.
Many Zimbabweans have resorted to bartering goods and rely on help from relatives abroad, mostly in South Africa, for supplies of scant basic foodstuffs like maize, sugar and cooking oil.
A loaf of bread which cost Z$500 (£1.60) when the central bank redenominated the Zimbabwe dollar on August 1, now goes for at least Z$7,000.
An outline agreement signed on September 15 has stalled over key cabinet posts, angering Zimbabweans who have had to endure the world's fastest price rises, shortages of food, foreign currency and crumbling infrastructure. Both sides accuse each other of jeopardising the process.
Eldred Masunungure, a political science lecturer at University of Zimbabwe, said: "What is baffling is that the political players seem to take a cavalier attitude over the political crisis whose resolution is tied to the economic turnaround.
"The consequences of such a rate of inflation is absolute desperation, despair and poverty. The politicians don't seem to realise that what they do or don't do has an effect on the economy."
One United States dollar fetches Z$180 at the bank, Z$7,000 at the black market when using cash and Z$1.5 million when transacting with a cheque.
There is now pressure on the ruling party and opposition to break a deadlock in negotiations and form a cabinet that can rescue the ruined economy.
President Robert Mugabe's ruling Zanu-PF party and the opposition MDC again held more unsuccessful talks to end stalled power sharing negotiations on Wednesday, frustrating Zimbabweans who hoped new leadership would bring relief from hardship.
Many Zimbabweans have resorted to bartering goods and rely on help from relatives abroad, mostly in South Africa, for supplies of scant basic foodstuffs like maize, sugar and cooking oil.
A loaf of bread which cost Z$500 (£1.60) when the central bank redenominated the Zimbabwe dollar on August 1, now goes for at least Z$7,000.
An outline agreement signed on September 15 has stalled over key cabinet posts, angering Zimbabweans who have had to endure the world's fastest price rises, shortages of food, foreign currency and crumbling infrastructure. Both sides accuse each other of jeopardising the process.
Eldred Masunungure, a political science lecturer at University of Zimbabwe, said: "What is baffling is that the political players seem to take a cavalier attitude over the political crisis whose resolution is tied to the economic turnaround.
"The consequences of such a rate of inflation is absolute desperation, despair and poverty. The politicians don't seem to realise that what they do or don't do has an effect on the economy."
One United States dollar fetches Z$180 at the bank, Z$7,000 at the black market when using cash and Z$1.5 million when transacting with a cheque.
I know this is not Trinidad And Tobago News but we should still discuss this Have you seen the pic their they have a one billion dollar note. This is to extreme for me to talk about what you think guys
