Price Cuts Paralyzing Zimbabwe Economy

Cars no longer line up at gas stations because there's no fuel for sale. Gone are the meat, bread and cornmeal that Zimbabweans count on for their meals. Two weeks after the government ordered price cuts in response to the country's rampant inflation, the economy is coming to a standstill.

Factories, stores and gas stations have been unable to replace goods sold at below cost.

Gas stations have run dry, putting an end to the long lines of cars. On Monday, the government ordered private commuter buses to cut fares by three-fourths, promising bus owners they would be able to buy subsidized fuel from the state oil procurement agency.

But many ignored the directive and simply abandoned their routes. Businesses reported higher numbers of workers failing to arrive at their jobs.

From the Washington Post

We've been posting on this for a few weeks now. This is a disaster in the making.

Zimbabwe is the head of the U.N.'s Commission on Sustainable Development.