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Price controls backfire again

Parallel markets are booming, businesses and industries are buckling and consumers are paying the price as the Zimbabwean government's attempts to forcibly control runaway inflation backfire.

4 Jul 2007

Harare - In the face of soaring hyperinflation, President Robert Mugabe's government ordered a 50 percent cut in the prices of basic commodities last week. Defiance of the order was seen as a move to topple Mugabe and businesses were raided and threatened with closure on Monday 2 July.

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