RSS feedzimbabwe
’Zimbabwe: Does Woodford know something we don’t?
Is there something afoot in Zimbabwe? As The Times (via The Australian) reported on Monday, influential UK-based fund manager Neil Woodford, who manages about ₤15bn for Invesco Perpetual, has committed $25m of clients’ money to investment in Zimbabwe.
Annals of Weimar inflation warnings, BoE edition
“I want to deplore our level of yields which is very low, pathetically low”
Gideon Gono, head of the Zimbabwe Central bank, September 21, 2005
“The fact that yields haven’t risen now, I think, does to my mind hold out the prospect that it is possible to put in place a proper framework for fiscal consolidation,
A Zimbabwe rally effect?
When is an equity rally actually symptomatic of an inflationary environment to come?
That would be when it happens in Zimbabwe.
As Hinde Capital, a gold-focused hedge fund, notes in a recent report entitled “Aurophobia”
Marc Faber: Hyperinflation coming to the USA
Wa-oah. Marc Faber has a reputation as a bit of a doom-monger, but he has really surpassed himself with this one. From Bloomberg (emphasis ours):
May 27 (Bloomberg) — The U.S. economy will enter “hyperinflation”
Irony of the day, Zimbabwe dollar edition
This, by way of the Freakonomics blog over at the NY Times on Monday:
Zimbabwe’s currency has been essentially worthless in-country for months. Now the Zimbabwe dollar is officially worth more on eBay,
Zimbabwe datapoint du jour – prices are falling
We missed this, but on Wednesday the BBC – citing official statistics - reported that prices in Zimbabwe had begun to fall after years of “galloping inflation”:
Prices of goods bought in US dollars,
Gideon Gono, hyperinflator
Quote (or rather quotes) du jour from Newsweek’s interview with Zimbabwe’s central bank governor, Gideon Gono:
I sit back and see the world today crying over the recent credit crunch, becoming hysterical about something which has not even lasted for a year,
STATEMENT ON THE RAMPANT FRAUDULENT ACTIVITIES ON THE STOCK EXCHANGE, THE INSURANCE AND PENSION FUND INDUSTRIES AND THE BANKING SECTOR
Yes, it’s Zim-time once again.
There are reports around that Zimbabwe plans to issue a series of Z$20bn and Z$50bn bank notes. But this seems a strange move: aside from the fact that virtually all goods and services in Zimbabwe are now priced and charged in foreign currency,
USA, UK: following Zimbabwe’s lead
Yves Smith reprises the below gem from the Reserve Bank of Zimbabwe’s quarterly monetary policy statement. One for the “couldn’t make it up” file.
Here in Zimbabwe we had our near-bank failures a few
Is this the end of Zimbabwe’s $1000 loaf of bread?
News today that Zimbabwean President Robert Mugabe and opposition leader Morgan Tsvangirai have reached a powersharing agreement, brokered by South Africa’s Thabo Mbeki.
As the FT notes, the pace of economic decline in the country is accelerating daily,
The mad market of Zim
Chart of the day – the Zimbabwe Industrial Index over 12 months:
As Zimbabwe continues its descent into violent chaos, the stock market in Harare continues to serve as a “store of value” – somewhere you can place cash without it evaporating in front of your eyes.
Latest from Zim: Inflation at 164,900%
As the ZANU-PF meets to contemplate a presidential run-off, the latest economic data is in. According to Zimbabwe’s central statistics office, inflation accelerated to 164,900 per cent in January, from 100,580 per cent the months before.
Zimbabwenomics, election edition
With politics hanging in the balance, what does it all mean for those brave souls eyeing Zimbabwe as an opportunity for really ‘deep value’ investing?
The nation’s stock market has raced ahead over the past couple of years,
Central bank intervention, Zim-style
From the Couldn’t-Make-It-Up department – a statement from Dr G Gono, governor of the Reserve Bank of Zimbabwe. No less. On THE IMMINENT LAUNCH OF SUNRISE 2.
This speech was seemingly made on November 21,
Zimbabwe’s market melt-up, as inflation zooms
The US ambassador has further ingratiated himself with the regime in Zimbabwe by forecasting the country’s inflation will hit an eye-watering 1.5m per cent by the end of 2007, reports the Guardian on Friday.
The ultimate liquidity bubble
Chinese stocks? Tight CDS spreads? London house prices? Nope.
The Zimbabwe stock market:
Bizarre as it sounds, thanks to the debilitating polices of President Mugabe, the local market in Zimbabwe is up more than eight-fold since the beginning of the year.