Economy of Zimbabwe

The economy of Zimbabwe shrank significantly after 2000, resulting in a desperate situation for the country – widespread poverty and an 95% unemployment rate. Zimbabwe's participation from 1998 to 2002 in the war in the Democratic Republic of the Congo set the stage for this deterioration by draining the country of hundreds of millions of dollars. Hyperinflation in Zimbabwe was a major problem from about 2003 to April 2009, when the country suspended its own currency. Zimbabwe faced 231 million percent peak hyperinflation in 2008. A combination of the abandonment of the Zimbabwe dollar and a government of national unity in 2009 resulted in a period of positive economic growth for the first time in a decade.

Economy of Zimbabwe

The economy of Zimbabwe shrank significantly after 2000, resulting in a desperate situation for the country – widespread poverty and an 95% unemployment rate. Zimbabwe's participation from 1998 to 2002 in the war in the Democratic Republic of the Congo set the stage for this deterioration by draining the country of hundreds of millions of dollars. Hyperinflation in Zimbabwe was a major problem from about 2003 to April 2009, when the country suspended its own currency. Zimbabwe faced 231 million percent peak hyperinflation in 2008. A combination of the abandonment of the Zimbabwe dollar and a government of national unity in 2009 resulted in a period of positive economic growth for the first time in a decade.