{"id":42792,"date":"2019-01-15T10:29:19","date_gmt":"2019-01-15T15:29:19","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42792"},"modified":"2019-01-15T10:29:19","modified_gmt":"2019-01-15T15:29:19","slug":"protests-erupt-as-zimbabwe-now-has-the-most-expensive-gasoline-in-the-world","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42792","title":{"rendered":"Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World"},"content":{"rendered":"
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Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World<\/span><\/a><\/h3>\n<\/div>\n
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Zimbabwe is once again at the brink of economic collapse, making a mockery of President Emmerson Mnangagwa\u2019s claim that the country is open for business.<\/strong><\/p>\n

As Bloomberg reports,\u00a0 <\/em><\/a>many shops and factories have shut their doors because of a lack of customers and those that continue to trade are open to haggling over prices to secure hard currency. At an appliance shop in the capital, Harare, a salesman whispers that a Whirlpool Corp. washing machine priced at about $5,000 if paid for electronically will sell for $1,500 in cash, while at a nearby electrical warehouse, a $600 invoice is whittled down to $145 for payment in dollar bills.<\/p>\n

But, as OilPrice.com’s Tsvetana Paraskova reports,<\/em><\/a> Zimbabwe is on a three-day\u00a0nationwide strike<\/a>\u00a0and protests are erupting<\/strong> in the streets after the government of the southern African country doubled fuel prices, making gasoline sold in Zimbabwe the most expensive gasoline in the world. \u00a0<\/strong><\/p>\n

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Zimbabwe is in the midst of an economic crisis and a shortage of foreign exchange, which has led to fuel and bread shortages, and many companies have stopped working because they can\u2019t import raw materials.<\/strong><\/p>\n

Following hyperinflation in 2009, Zimbabwe abolished its own currency and has been using the U.S. dollar and South African rand instead.<\/p>\n

But the economic crisis and foreign currency shortages has prompted the government to say over the weekend that it would\u00a0introduce a new currency<\/a>\u00a0of its own in the next 12 months.<\/strong><\/p>\n

However, the policy that really sparked protests and calls for a national stay-away was the sharp increase of fuel prices over the weekend.<\/p>\n

According to Zimbabwe\u2019s President Emmerson Mnangagwa – who succeeded the president of 38 years Robert Mugabe in November 2017 – the doubling of the fuel prices would\u00a0help ease fuel shortages<\/a>.\u00a0<\/strong><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World Zimbabwe is once again at the brink of economic collapse, making a mockery of President Emmerson Mnangagwa\u2019s claim that the country is open for business. As Bloomberg reports,\u00a0 many shops and factories have shut their doors because of a lack of customers […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[83,236,23967,23193,1423,413,23083,657,20169,839,4316],"class_list":["post-42792","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-bloomberg","tag-economic-collapse","tag-emerson-mnangagwa","tag-fuel-prices","tag-gasoline-price","tag-hyperinflation","tag-oil-price-com","tag-protests","tag-south-african-rand","tag-us-dollar","tag-zimbabwe"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42792"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42792\/revisions"}],"predecessor-version":[{"id":42793,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42792\/revisions\/42793"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}