Zimbabwe admitted today that official inflation has soared to 2.2 million per cent.

THE annual rate of inflation in Zimbabwe, already the highest in the world, has hit a new record level of 2.2 million percent, the central bank’s governor revealed.

Zimbabwe‘s President Robert Mugabe signed into law new regulations forcing foreign- and white-owned businesses to hand over 51% control of their operations to blacks, the official media reported today.

Inflation-hit Zimbabwe has had to introduce a new bank note ten times greater than its previous largest denomination in an effort to end chronic cash shortages.

ZIMBABWEANS battled yesterday to change temporary currency into new banknotes before it becomes worthless on December 31, as the country’s central bank tries to tackle a shortage of cash in the country.

Inflation-hit Zimbabwe today unveiled new high denomination banknotes it hopes will ease chronic cash shortages.

Hyper-inflation hit Zimbabwe was preparing today to reprint its currency again to remove ridiculously high denomination notes.

The head of the Zimbabwe state central bank acknowledged his nation is broke and said foreign currency desperately needed for fuel and spare parts was going on food imports, according to reports today.

Paramilitary units armed with batons and tear gas patrolled Harare’s main roads today as police said they would tolerate no more protests against their crackdown on street trading – the only livelihood for thousands in Zimbabwe’s shattered economy.