Thursday, August 28, 2003

Zimbabwe: fuel prices up 500%

The government of Zimbabwe removed price control on fuel causing prices to go up five fold. The government doesn't have the foreign currency to import fuel so supply has been very uncertain. So the government has freed up private companies to charge market rates ... in the hopes that the supply will get better.

The higher fuel prices have already begun to affect regular folk ... companies that provide public transportation have raised fares.

But don't despair, there's positive news out of Zimbabwe... for Mugabe. His new house is almost ready.
The house with its 25 bedrooms in Borrowdale Brook Lane, an upmarket suburb in northern Harare, is being completed in haste because Mugabe allegedly wants to move in there when he retires [expected in December].
As for the cost ...
Mr Makumbe, also a member of the anti-corruption group, Transparency International, asked where Mr Mugabe got the funds to build the colossal structure as its cost [£3.75m] outstripped his annual salary of £23,000.