Zimbabwe ‘committing regime change’ by printing money to 1.5 million percent inflation: US

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

LONDON, June 22, 2007 (AFP) – Zimbabwe’s government is “committing regime change on itself” with its failing economic policy which has sapped faith in the regime from the population, the US ambassador to Harare said in an interview published Friday. Mugabe however blames the woes on targeted sanctions imposed on himself and members of his inner circle by Western powers. Speaking to The Guardian via telephone from the Zimbabwean capital, Christopher Dell said that he expected inflation in the poverty-stricken country to reach 1.5 million percent by the end of the year.

“Prices are going up twice a day, in some cases doubling several times a week … It destabilises everything,” Dell told the daily.

He added that he believes “inflation will hit 1.5 million percent by the end of 2007, if not before … I know that sounds stratospheric but, looking at the way things are going, I believe it is a modest forecast.”

“People have completely lost faith in the currency and that means they have lost faith in the government that issues it … By carrying out disastrous economic policies, the Mugabe government is committing regime change upon itself,” Dell said, referring to the country’s President Robert Mugabe.

“Things have reached a critical

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