Zimbabwe inflation surges to 70%

Reserve Bank of Zimbabwe governor Leonard Tsumba said this week average inflation was expected to rise to about 70 percent in 2001 from 55.7 percent in 2000, further threatening the fragile economy.

"Deep-seated inflationary pressures persist (and) current estimates indicate that overall inflation will rise to average above 70 percent this year," Tsumba said in a briefing to journalists, economists and business leaders.

High inflation levels had led to high nominal interest rates with serious

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