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Essay / Research Paper Abstract
This 3 page paper answers questions regarding Zimbabwe, including speculation on why the government is refusing to devalue the currency, why there is inflation and how hyper inflation is cause the supply of essential goods to dry up. The last per of the paper considers whether or not trying to outlaw inflation by making price increases illegal is likely to be an effective way of controlling inflation in the country. The bibliography cites 5 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEzimdefl.rtf
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Unformatted sample text from the term paper:
(Zulu and Chiripasi, 2003). The exchange rate was set at Z$250 to the US dollar, this is still the current rate. It may be argued that the government approach is
one based on arrogance and is failing as there is a depreciation occurring within the economy, it is simply that the currency is pegged which does not allow it to
be devalued. Gideon Gono, the Governor of Zimbabwes central bank is refusing to devalue currency further stating that it would be pointless unless there are government policies introduced in order
to improve the economic condition of the country (Zulu and Chiripasi, 2003). Devaluation will make little difference to international trade, it will not bring more money into the country where
the issues are political as well as economic. In more recent months the blame has been shifted to the Finance Minister of the government, who Gono argues, is the
person with the statutory power to devalue the currency (Chimhashu, 2008)1. It may be argued that the devaluation of the past had not worked, and that with measures such
as trying to make inflation illegal the government were trying to control forces that they believed they could control. Question 2 A) While the government may try and outlaw
inflation there are market pressures in any economy. Hoping down inflation and refusing to increase wages in line with inflation creates more pressures for process rises. Inflation may be seen
as the result of many factors a major influence is that of supply and demand. Many of the essential items in the country are in extremely short supply, unable to
meet demand, including basic essentials such as food and shelter. These are goods and services which are in demand regardless of the level of a familys income. Therefore inflation has
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