MAPUTO - The IMF said yesterday that Zimbabwe's year-on-year inflation rate could reach over 100000percent by the end of the year.
"If recent monthly trends continue, IMF staff project that year-on-year inflation could well exceed 100000percent by year-end," said Abdoulaye Bio Tchane, director of the IMF's Africa department.
Zimbabwe's central bank said it would issue higher denominated bank notes today to help consumers cope with hyperinflation ravaging the country.
President Robert Mugabe's regime lopped off three zeroes from the local currency a year ago, in its struggle against inflation, now officially running above 4500percent. - Reuters