Zimbabwe's President Robert Mugabe has warned that he is ready to impose a state of emergency.
Mugabe made the threat after the reserve bank governor announced he is knocking 10 zeros off the hyper-inflated currency. On August 1, 10 billion Zimbabwe dollars will be revalued to just one dollar. Mugabe has warned business people he is not afraid to get tough against profiteers. The new currency valuation was forced because cash registers, electronic calculators and automated teller machines can no longer handle basic transactions. A 100 billion-dollar note issued last week is not enough to buy a loaf of bread.
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