Zimbabwe has the Highest Inflation in the World

Annual inflation in Zimbabwe was 300 percent in August, according to new data released by the International Monetary Fund. Annualised inflation in Zimbabwe was measured at 175.66 percent in June, up from 97.85 percent in May. In a statement released this week, IMF head of delegation Gene Leon said Zimbabwe was experiencing what he described as severe economic difficulties. Leon was a part of an IMF delegation that was recently in the country to assess progress on the implementation of a Staff Monitored Program that measures economic performance and Zimbabwe’s commitment to reforms. The programme is a key step towards unlocking IMF funding. Zimbabwe’s Finance Minister Mthuli Ncube banned the publication of annual inflation numbers in July to allow the country’s statistical agency, Zimstat, to compile new price data, which will only be published in February 2020, Ncube said.

SOURCES: AL JAZEERA

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