The governor of Zimbabwe's reserve bank last week admitted that his country is in the grip of hyperinflation, with some economists predicting an inflation rate of 1,000% within two months
The economy of Zimbabwe is collapsing under the weight of economic mismanagement, resulting in 94% unemployment[2] and spiraling hyperinflation. The economy poorly transitioned in recent years, deteriorating from one of Africa's strongest economies to the world's worst. Inflation has surpassed that of all other nations at over 80 sextillion % Ethiopia. It currently has the lowest GDP real growth rate in an independent country and 3rd in total (behind Palestinian territories.) (although it is impossible to calculate an accurate value), with the next highest in at 41%
The country has reserves of metallurgical-grade chromite. Other commercial mineral deposits include coal, asbestos, copper, nickel, gold, platinum and iron ore. However, its ongoing political turmoil and one of the world's highest rate of infection have greatly hampered its progress. Spiraling inflation, which many critics argue was caused by president Robert Mugabe's policies towards land reform, have led to internal upheaval and population displacement, and poverty.
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