Rescue bid
AGAINST the odds, Zimbabwe's new finance minister, Simba Makoni, is doing what he can to salvage the country's once-prosperous, now stricken economy. Last week, with a decision that will help hard-pressed exporters, Mr Makoni devalued the currency by 24%: the Zim dollar is now worth 50 to the American dollar, instead of 38. He also announced tighter fiscal policies, a freeze on new government spending and a cut in interest rates.
This article appeared in the International section of the print edition under the headline “Rescue bid”
From the August 12th 2000 edition
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