9 Jul 2007

Mass Arrests over Prices in Zimbabwe

A total of 1,328 Zimbabwean businessmen and women have been arrested and fined for breaking official price controls in the past two weeks, police say.
The government ordered that the prices of many goods be cut in half, in order to tackle the world's highest rate of inflation - more than 3,700%.

But businesses say the new prices are below cost, so some firms have closed.

Zimbabwe's neighbours are trying to work on a plan to revive the economy - once one of Africa's most advanced.

A South African newspaper reported on Sunday that this could include pegging the Zimbabwe dollar to the South African rand but this has not been confirmed.

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