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Weekly economic bulletin
Crisis in Zimbabwe Coalition
June 15, 2007

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1.0 Summary of economic highlights

a) Zimbabwe dollar collapses on the parallel market
Information reaching the catalyst states that the Zimbabwean dollar crashed from Z$92 000 to US$1 on Thursday, 14 June to Z$100 000 to US$1 in 24 hours on the parallel market. This, analysts say shall induce inflationary pressure on the market.

b) Family bread basket shoots up to Z$5,5 million
The family bread basket for six people for the month of May rose to Z$5,5 million up from Z$3,3 million in April. According to reports by the Consumer Council of Zimbabwe (CCZ), this marked a 65,6 percent increase from the previous month. This comes against the background of very low salaries with the gazetted salary of a farm worker being Z$80 000 per month.

c) Power shortages continue
The country continues to experience power shortages. Households and businesses around the country are being forced to go for long hours without electricity. This has resulted in the continued retarding of business activities.

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