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Zimbabwe central bank set to devalue dollar further

Updated on 30 July 2008

By Krishnan Guru-Murthy

Zimbabwe's reserve bank has said that, from Friday, 10 zeros will be cut from the Zimbabwe dollar, reports Krishnan Guru-Muthy.

But with no end in sight to the political instability in the country that has prevailed since disputed presidential elections earlier this year, the economy is in free-fall and this emergency financial move is predicted to do little to help.

Talks to broker a government of national unity were also thought to have reached a stalemate.

The South African president, Thabo Mbeki, said power-sharing negotiations in Zimbabwe would resume on Sunday, however.

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