Zimbabwe’s Powerful Dictator Mugabe: Running Out Of Money, Running Out Of Power

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(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

As Zimbabwe’s money runs out, so does Mugabe’s power

President Robert Mugabe addresses to his supporters during an election rally in Chitungwiza, Zimbabwe June 26, 2008.REUTERS/Philimon Bulawayo/File Photo
By Ed Cropley| HARARE

In Zimbabwe, where worthless $100 trillion notes serve as reminders of the perils of hyperinflation, President Robert Mugabe is printing a new currency that jeopardizes not just the economy but his own long grip on power.

Six months ago, the 92-year-old announced plans to address chronic cash shortages by supplementing the dwindling U.S. dollars in circulation over the past seven years with ‘bond notes’, a quasi-currency expected at the end of November.

According to the Reserve Bank of Zimbabwe (RBZ), the bond notes will be officially interchangeable 1:1 with the U.S. dollar and should ease the cash crunch. The central bank also promised to keep a tight lid…

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