Jan.22 — Zimbabwe’s Finance Minister Mthuli Ncube talks about the food shortage the nation faces and the economy. The worst drought in 40 years threatens as many as 7.7 million people, or half the population, with starvation. The southern African nation had one of the continent’s fastest-shrinking economies last year and its annual inflation rate was outpaced globally only by Venezuela, International Monetary Fund estimates show. Ncube speaks on the sidelines of the World Economic Forum in Davos, Switzerland, on “Bloomberg Daybreak: Middle East.”
In This Story: Inflation
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
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In This Story: Switzerland
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In This Story: Venezuela
2 Recent Items: Venezuela
In This Story: World Economic Forum
The World Economic Forum, based in Cologny, Geneva Canton, Switzerland, is an international NGO, founded in 1971. The WEF’s mission is stated as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”.