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Zimbabwe

Economy

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     Zimbabwe faces a wide variety of economic problems, they are in so much debt that they will never be able to pay it all back, their money is worth nothing, and there are bare store shelves. In 1998-2002 they had a war with the Democratic Republic of the Congo, millions of dollars were drained from the economy. Violence and chaos, is a big issue. The IMF ( international monetary fund) has, in the past, loaned money to Zimbabwe that was badly needed. The inflation rate has been rapidly raising through the years. 32% in 1998, 585% in 2005, and 26,000% in November, and still is rising. Since inflation rate is so high that a loaf of bread cost 10 million Zimbabwean dollars. That's about 333 US dollars.
     Zimbabwe's economy is basically agricultural. White-owned farms use to be very sucessful, but in 2000 these farms were replaced with small farms, with inexperienced farmers. This led to the Zimbabweans having to import grains. Corn is their staple food crop, tobacco, and cotton are the main cash crops. Other products include sorghum, peanuts, soybeans, wheat, sugarcane, and coffee. Dairy is important is some areas of Zimbabwe. There are many tea plantations located in the area too. In south-east Zimbabwe's forests, supply valuble hardwoods. The country has many mineral souces that they mine gold, platinum, diamonds, nickel, tin, iron, chromite, copper, and coal. Power is generated by hydroelectricity, through a station at the Zambezi River.

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Deirdre O'Donoghue