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ARCHBISHOP PIUS NCUBE, Zimbabwe's senior Catholic cleric, has told his country's sad recent history so many times that his description has become methodical. In the past decade, he recounts, "the GDP has shrunk by 40 percent. Farmers have left the country. Inflation has been phenomenal, around 9,000 percent now. Joblessness is over 80 percent. The government makes only cosmetic changes, like striking off zeros from the dollar--last year, they chopped off three."
Rarely has a country lost so much, so quickly. Once relatively prosperous, Zimbabwe today holds two unenviable world records. The first is its inflation rate: Prices more than double with each passing ...