: 0in 0in 0pt”>In declarations to Prensa Latina, the top ranking African leader expressed satisfaction over Cuban cooperation in several spheres, especially noting public health and his interest in increasing ties in other fields.
19.9.2007
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Inflation rises and Mbengegwi in Cuba (19-09-07)
ZIMBABWE’S minister of Foreign Affairs and Cooperation, Simbarashe Mumbengegwi, is in Cuba to preside the Joint Intergovernmental Commission with the Island.
Before he left Mumbengwi said it was important for Zimbabwe to learn of new Cuban projects and continue bonding their relations.
Recently the Zimbabwe vice president, Joice Mujuru, visited Havana and received Cuban support against the blockade imposed by western powers.
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ZIMBABWE’S inflation rate slowed to 6 592,8% year-on-year in August from a record 7 634,8% in July, the government’s Central Statistical Office (CSO) said on Tuesday.
The CSO director Moffat Nyoni attributed the improvement to a sharp slowdown in prices for food and non-alcoholic beverages.
“The main contributory factor to the decline in year-on-year inflation in August was that the huge increase in prices on a month-on-month is being repeated,” Nyoni said.
Inflation opended the year at 1 593,6% before rising 1 729,9%, 2,200,2% and 3 713,9% in February, March and April. In May and June inflation rose to 4 350% and 7 251,1% respectively.
The decline of annual inflation rate is the first since July last year when inflation declined from 1 184,6% in June to 993,6%.
Despite the decline, Zimbabwe’s inflation rate is still the highest in the world. Economists believe that these price increases will this month after government started reviewing prices of some basic commodities.
The government has also recently warned of shortages of bread and flour, which may cause even more hardship.
Rampant inflation is a clear sign of a deep economic crisis, analysts said.
Critics have blamed President Robert Mugabe’s policies, particularly the seizure of white-owned farms, for damaging the once self-sufficient country – in the past described as the bread basket of Africa.
President Mugabe, meanwhile, has accused foreign governments of trying to sabotage Zimbabwe’s economy and topple him
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