Source: Dreaming Mark 3 – The Zimbabwean
My first call on my bucket list for Zimbabwe was fiscal stability and discipline, the second was monetary stability and predictability. This week on Monday the informal rate of exchange for the RTGS dollar was 1.90 to 1. That is an effective devaluation of 12 per cent in a week. Two to one looks as if it’s just around the corner. Inflation will follow – that is why these fundamental macro-economic issues are so important to everyone. In fact, I will be blunt – unless you get these right, nothing else works.