policies. Good sign? Especially given the fact that this is the country that has presided over an inflation rate of 165,000% (that's not a typo).
Now they want to congratulate us for taking the same steps they did:
http://www.rbz.co.zw/pdfs/2008%20MPS/Apr...
Does this make anyone feel better about the so-called stimulus package? Here are some excerpts:
1.15 As Monetary Authorities, we have been humbled and have
taken heart in the realization that some leading Central
Banks, including those in the USA and the UK, are now not
just talking of, but also actually implementing flexible and
pragmatic central bank support programmes where these are
deemed necessary in their National interests.
1.16 That is precisely the path that we began over 4 years ago
in pursuit of our own national interest and we have not
wavered on that critical path despite the untold
misunderstanding, vilification and demonization we have
endured from across the political divide.
1.17 Yet there are telling examples of the path we have taken from
key economies around the world. For instance, when the
USA economy was recently confronted by the devastating
effects of Hurricanes Katrina and Rita, as well as the Iraq
war, their Central Bank stepped in and injected life-boat
schemes in the form of billions of dollars that were printed
and pumped into the American economy.
1.18 A few months ago, the USA economy confronted a severe
mortgage crisis, which threatened to spark an economy-wide
recession.
1.19 The USA Central Bank again responded by injecting over
US$160 billion between December, 2007 and March, 2008,
to provide impetus to the American economy and prevent a
worse crisis from happening.
Now they want to congratulate us for taking the same steps they did:
http://www.rbz.co.zw/pdfs/2008%20MPS/Apr...
Does this make anyone feel better about the so-called stimulus package? Here are some excerpts:
1.15 As Monetary Authorities, we have been humbled and have
taken heart in the realization that some leading Central
Banks, including those in the USA and the UK, are now not
just talking of, but also actually implementing flexible and
pragmatic central bank support programmes where these are
deemed necessary in their National interests.
1.16 That is precisely the path that we began over 4 years ago
in pursuit of our own national interest and we have not
wavered on that critical path despite the untold
misunderstanding, vilification and demonization we have
endured from across the political divide.
1.17 Yet there are telling examples of the path we have taken from
key economies around the world. For instance, when the
USA economy was recently confronted by the devastating
effects of Hurricanes Katrina and Rita, as well as the Iraq
war, their Central Bank stepped in and injected life-boat
schemes in the form of billions of dollars that were printed
and pumped into the American economy.
1.18 A few months ago, the USA economy confronted a severe
mortgage crisis, which threatened to spark an economy-wide
recession.
1.19 The USA Central Bank again responded by injecting over
US$160 billion between December, 2007 and March, 2008,
to provide impetus to the American economy and prevent a
worse crisis from happening.