Mugabe Made a Drastic Decision In 2007-2008- Victor Isibor

Zimbabwe has been hit hard by economic crisis, inflation rate continues to increase, people remain poor.

According to Victor Isibor, In 2008 Zimbabwe under the then president Robert G Mugabe was facing a very huge economic crisis after failed planning.

Over the course of 2007 to 2008 the span of hyperinflation, the inflation rate fluctuated greatly.

Mugabe made a drastic decision of printing more money to ease the financial crisis and clear debts however prices skyrocketed , 76% billion inflation rate was recorded.

Isibor said a monetarist view is that a general increase in the prices of things is less a commentary on the worth of those things than on the worth of the money.

The money had no firm basis to give it a value and people lack confidence in the money’s ability to retain its value.

Victor said Mugabe and his administration made drastic financial decisions that sank the country deeper into debt and recession deepened.