zimbabwe: ICT sector buffeted by Forex shortages and skill losses

The current political crisis and its economic consequences dominate all discussions of Zimbabwe’s connectivity markets. The official US$ to Z$ rate is 1:55. The "parallel market" rate is 27 times as high at 1:1500 and steadily falling. Inflation is currently around 200% and the IMF predicts that it will go as high as 520% by next year. Stripping out the impact of inflation, most ICT businesses are actually shrinking in money terms.