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Bitcoin Surges In Zimbabwe After Military Seize Power | Hacker News

Bitcoin Surges In Zimbabwe After Military Seize Power | Hacker News

I feel like there are whales that simply manipulate the price based on news. There's little evidence to suggest bitcoin has any usage in zimbabwe in practical day to day usage. Therelies the problem with bitcoin, why would someone in zimbabwe pay 1 week of their salary to move 3 weeks of pay and still not be sure if the money will still be there tomorrow? if you didn't dealt with this you can't understand, but simply put, 1 week of pay could be toilet paper next week(s), as it happened in Venezuela. In my country some years ago, in a time of crisis for example the government locked all foreign currency in banks, and auto exchanged it for the national currency, at a rate set by them, it was robbery basically, prices would jump up like 25% day to day, so the national current was worthless, oh, they did the same with all the private owned gold in banks or so they could grab, sold for national currency, same scenario I think it happened in Basil too, government locking money in banks. That's definitely a real concern for some countries, but Zimbabwe has only used other currencies for years. When I went 5 years ago, you could pay for your entrance visa in either USD, GBP, or EUR. All large grocery stores had that day's exchange rates posted near the entrance in USD, ZAR, and at least one other currency (GBP, EUR, or Botswana pula are the ones I remember). Things have changed in the 5 years - Zimbabwe now has a (quasi)currency - the "Bond notes" which are officially 1:1 with the USD. Getting access to cash in this quasi-currency is hard, getting it in USD is well-neigh impossible^w^w expensive. No it doesn't. It has been several years since that was true. Big jumps these days are 5-10%. The recent drop during the BCH pump and dump didn't even get to 25% in day. I would encou Continue reading >>

Why Everyone's Talking About Bitcoin And Zimbabwe

Why Everyone's Talking About Bitcoin And Zimbabwe

Why everyone's talking about bitcoin and Zimbabwe A man holds a two dollar Zimbabwean 'bond note' withdrawn in Harare, Zimbabwe on November 28, 2016. A surge in demand for digital currency in Zimbabwe has highlighted an interesting quirk in the trading of bitcoin , as well as the current economic woes the African country is facing. "Zimbabwe panic sends bitcoin soaring over $6,000?" asked a report on one cryptocurrency website over the weekend. While the answer is clearly no there's not enough trade in Zimbabwe to impact the price it does hint at two issues. Firstly, Zimbabwe appears to be facing some serious currency concerns again. After the hyperinflation of 2008, the country adopted the U.S. dollar as its own. But a scarcity of greenbacks means a crisp new $100 bill can reportedly trade at a premium and is worth more than the digital dollars that people have in their bank accounts. They're also trading at a higher price to the Zimbabwe "bond notes" that the government recently introduced. These are a domestic quasi-currency that looked to solve the lack of U.S. dollars in the country. Now there's a "debilitating liquidity crunch and an acute cash shortage," according to the Zimbabwe Independent newspaper Friday, which has "severely crippled companies which need to import critical inputs for operations." The Middle East's The National newspaper summed it up the other day: "This time (in Zimbabwe) the issue is not too much money it is that there is too little. Because the reserve bank cannot print U.S. dollars itself the U.S. alone can do that it must rely on imported cash." Continue reading >>

Zimbabwean Bitcoin Exchange Golix Processes $1m Monthly. Now Profitable

Zimbabwean Bitcoin Exchange Golix Processes $1m Monthly. Now Profitable

Homepage Finance Zimbabwean Bitcoin Exchange Golix Processes $1m Monthly. Now Profitable Zimbabwean Bitcoin Exchange Golix Processes $1m Monthly. Now Profitable by William Chui ( @ChuiWilliam ) Read 19 Comments Over the last few months as the cash crisis in Zimbabwe continues to persist the appetite for cryptocurrencies, Bitcoin included, has increased 4-fold. Zimbabwean cryptocurrency exchange Golix.io has announced that from its seemingly ambitious targets of wanting to process $1m worth of transactions in total historic value, that in the month of October 2017, the exchanged handled over $1m alone. Taking this into perspective, the exchange processed a total of $100,000 the whole 2016! Not only has the volume of transactions increased but the exchange has been offering a just-under-100% premium to what international exchanges offer for Bitcoin. This has been largely spurred by the introduction of the countrys own version of the US dollar bond notes. The exchange, that recently changed names from BitcoinFundi, announced that they are now profitable, operating with just 5 full-time employees. Yes, they are still hiring and looking to recruit talent . Golix further advises that they have been receiving a healthy amount of transactions over US$20,000, while at the time of writing there is someone wanting to get their hands on 3.22 BTC. Visiting the website often, as we do, one will notice that there has been an increase in the amount of both buys and sells on their order book. Possible Reasons For BTC Demand In Zimbabwe Getting money out of Zimbabwe has been a challenge for the last 6 months, as banks and financial institutions close (or restrict) avenues , with some reducing the amounts that one can transact, while others totally calling for customers to pre-fund their Continue reading >>

Zimbabwean Dollar To Bitcoin Today's Rate Z$1 = B1.3e-33 Zwd/btc - Mataf

Zimbabwean Dollar To Bitcoin Today's Rate Z$1 = B1.3e-33 Zwd/btc - Mataf

999 999 999 999 999 945 575 230 987 042 816 Zimbabwean dollars in Bitcoin = 1.26 1 999 999 999 999 999 891 150 461 974 085 632 Zimbabwean dollar in Bitcoin = 2.52 2 999 999 999 999 999 836 725 692 961 128 448 Zimbabwean dollars in Bitcoin = 3.78 3 999 999 999 999 999 782 300 923 948 171 264 Zimbabwean dollars in Bitcoin = 5.04 4 999 999 999 999 999 727 876 154 935 214 080 Zimbabwean dollars in Bitcoin = 6.30 5 999 999 999 999 999 673 451 385 922 256 896 Zimbabwean dollars in Bitcoin = 7.56 6 999 999 999 999 999 042 565 864 605 876 224 Zimbabwean dollars in Bitcoin = 8.82 7 999 999 999 999 999 564 601 847 896 342 528 Zimbabwean dollars in Bitcoin = 10.08 9 000 000 000 000 000 086 637 831 186 808 832 Zimbabwean dollars in Bitcoin = 11.33 9 999 999 999 999 999 455 752 309 870 428 160 Zimbabwean dollars in Bitcoin = 12.59 14 999 999 999 999 998 607 167 712 502 218 752 Zimbabwean dollars in Bitcoin = 18.89 19 999 999 999 999 998 911 504 619 740 856 320 Zimbabwean dollars in Bitcoin = 25.19 24 999 999 999 999 999 215 841 526 979 493 888 Zimbabwean dollars in Bitcoin = 31.49 29 999 999 999 999 997 214 335 425 004 437 504 Zimbabwean dollars in Bitcoin = 37.78 39 999 999 999 999 997 823 009 239 481 712 640 Zimbabwean dollars in Bitcoin = 50.38 49 999 999 999 999 998 431 683 053 958 987 776 Zimbabwean dollars in Bitcoin = 62.97 59 999 999 999 999 994 428 670 850 008 875 008 Zimbabwean dollars in Bitcoin = 75.56 69 999 999 999 999 999 649 030 682 913 538 048 Zimbabwean dollars in Bitcoin = 88.16 79 999 999 999 999 995 646 018 478 963 425 280 Zimbabwean dollars in Bitcoin = 100.75 90 000 000 000 000 000 866 378 311 868 088 320 Zimbabwean dollars in Bitcoin = 113.35 99 999 999 999 999 996 863 366 107 917 975 552 Zimbabwean dollars in Bitcoin = 125.94 149 999 999 999 999 995 295 049 Continue reading >>

Zimbabwe Doesnt Have Its Own Currency And Bitcoin Is Surging

Zimbabwe Doesnt Have Its Own Currency And Bitcoin Is Surging

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Zimbabwe Doesnt Have Its Own Currency and Bitcoin Is Surging Cryptocurrency rises as high as $13,499 on local exchange Bitcoin sales climbed to more than $1 million in past month Robert Sinche of Amherst Pierpont Securities discusses Bitcoin and the political upheaval in Zimbabwe. Bitcoin climbed as much as 10 percent on Zimbabwes Golix exchange on Wednesday after the countrys armed forces seized power. The price of the cryptocurrency in the Southern African nation jumped as high as $13,499, almost double the rate at which it trades in international markets, according to prices cited on Golixs website . It traded at $13,010 by 3:34 p.m. in Harare, the Zimbabwean capital. Demand for bitcoin in Zimbabwe has surged amid a shortage of hard currency. Golix processed more than $1 million of transactions in the past 30 days, compared with turnover of $100,000 for the whole of 2016, according to data on the exchanges website. Zimbabwe doesnt have its own currency, with the government adopting the U.S. dollar and South African rand, among others, as legal tender in 2009 after hyperinflation rendered the local dollar worthless. Golix, an unregulated platform that also trades other cryptocurrencies including bitcoin cash, has been in operation since 2014. Prices for bitcoin Continue reading >>

Bitcoin Price Nears $15,000 But Still

Bitcoin Price Nears $15,000 But Still "not Actually Legal", Says Zimbabwean Central Bank Official

Bitcoin Isnt Legal, Says Zimbabwean Central Bank Official as Price Nears $15,000 Join our community of 10 000 traders on Hacked.com for just $39 per month. The Reserve Bank of Zimbabwe says trade and usage of bitcoin for transactions in the country have not been legalized despite a surge in prices and values for the popular crypto-currency. Bitcoin trade values on the only crypto-currency exchange platform,Golix had surged to $1 million for the month of October. On Tuesday, bitcoin prices on the Zimbabwean bitcoin exchange peaked at $14490 in morning trade on Tuesday against world averages of around $8000. Regional news blog TechZim reported Tuesday that Zimbabwes central bank declared that bitcoin isnt yet legal in the country. The central bank justified this position, saying it was still carrying out studies into the crypto-currency. In terms of the bitcoins, as far as we are concerned, its not actually legal. In Southern Africa, what we have done as regulators, we have said that we will not allow this in our markets. Research is currently on, being undertaken to ascertain the challenges and risks associated with these particular products, said Norman Mataruka, director and registrar of banking institutions at the RBZ in Zimbabwe. He said until the Zimbabwean central bank had actually established and come up with a legal and regulatory framework for them bitcoins will not be allowed in the country. Trade facilitators at Golix had already started to tighten oversight on large volume transactions. Officials said the higher value transactions would require verification of identifications for the traders. Zimbabwe has also had a massive surge in the price of bitcoin after the countrys military chiefs intervened and restricted President Robert Mugabe to his private reside Continue reading >>

Bitcoin's Price In Zimbabwe Is Not Actually $13,000 Quartz

Bitcoin's Price In Zimbabwe Is Not Actually $13,000 Quartz

Bitcoin is apparently surging in Zimbabwe after the military seized power in an apparent coup . Bloomberg reports that bitcoin is trading in Zimbabwe at over $13,000, nearly double the global price of bitcoin. But thats not quite the whole picture. The price that Bloomberg and other media have quoted comes from a cryptocurrency exchange in Zimbabwe called Golix. The Golix website shows a wide spread between bids and asks, with the current price settling at around $13,500. But go to another marketplace for bitcoin in Zimbabwe and you will see much lower prices. Localbitcoins traders in Zimbabwe. (Localbitcoins) Golix appears to be the sole cryptocurrency exchange in Zimbabwe. But most markets that arent well served by exchanges, like Zimbabwe, usually have a thriving peer-to-peer scene. Thats what you see when you go to LocalBitcoins, the biggest global platform for peer-to-peer bitcoin trading. Zimbabwes LocalBitcoin brokers are quoting prices around $7,000, which is in line with the global price of bitcoin . Its the brokers who offer to settle transactions in cash, instead of online payemnts or via bank transfers, who are demanding a steep premium in Zimbabwe. They are asking for $17,000 to $20,000 a coin from buyers who pay them in physical US dollars. Bitcoin trades settled in cash on LocalBitcoins in Zimbabwe. (Localbitcoins) So what explains the inflated prices on Golix? Its probably just low liquidity. Golixs website shows that it traded just over 7 bitcoins in the last 24 hours, and about 147 coins over the last 30 days. Thats in contrast to tens of thousands of bitcoins traded over LocalBitcoins globally each month, or tens of thousands per day on the biggest US dollar exchanges , like Coinbase or Bitfinex. LocalBitcoins, in fact, has been rocketing in populari Continue reading >>

Why Bitcoin Is Super Hot In Zimbabwe

Why Bitcoin Is Super Hot In Zimbabwe

People in Zimbabwe and other countries in political and economic turmoil increasingly are turning to digital currencies. Will Yakowicz is an award-winning journalist and a staff writer and podcaster for Inc. magazine. Before Inc., he reported from the West Bank and Moscow for Tablet Magazine; he covered business, crime, and local politics for The Brooklyn Paper; and he was the editor of Park Slope Patch. He lives in Brooklyn, New York. A man waves a Zimbabwean national flag during a demonstration demanding the resignation of Zimbabwe's president on November 18, 2017, in Harare. As the political turmoilin Zimbabwe has increased, so has the price of bitcoin . This week, at the same time military leaders were placing longtime president Robert Mugabe under house arrest, rising demand pushed thecost of one bitcoinin the African nation to $13,000 U.S.That's doublethe international rate, CNN Money reports . According to Bloomberg , bitcoin and other digital currencies are becoming more popular in countries like Zimbabwe as people lose faith in their local currency and financial institutions amid political and economic upheaval. "Bitcoin is a safe haven for people around the world who don't trust their governments," Andrew Milne, chief investment officer and co-founder of cryptocurrency-focused hedge fund Altana Digital Currency Fund, tells Bloomberg. "There are many countries where people are looking for an asset that isn't vulnerable to banks blowing themselves up.'' Golix, Zimbabwe's cryptocurrency exchange,processed more than $1 million in transactions in the past month, a tenfold increase fromall of 2016. It is an unregulated platformand prices for bitcoinand other currenciesare set by supply and demand, Taurai Chinyamakobvu, Golix's co-owner, tells Bloomberg. For years, Continue reading >>

1 Bitcoin Is $10,000 If You Live In Zimbabwe

1 Bitcoin Is $10,000 If You Live In Zimbabwe

Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: Bitcoin Price Hits $10,000 in Zimbabwe Due to Cash Shortage The price of bitcoin is almost double the global average, and is reportedly used both by businesses and individuals. In 2009, the country adopted the U.S. dollar as the Zimbabwean dollar had no remaining value. Since then the U.S. dollar is its fiat currency. As the country is far to untangle itself from the years-long crisis, Bitcoin is aiding the people to withstand economic failure. The non-fiat digital currency now sells for $10,000 or over in Harare, countrys capital. Meanwhile LocalBitcoins Zimbabwe is selling it on the global average price. In the 2000s, Zimbabwean president Robert Mugabe prompted citizens to take over foreigner-owned (mainly UK descendants) commercial farms. This questionable action by the president collapsed economic growth via agriculture. The closure of foreign-owned farms and businesses left the Reserve Bank of Zimbabwe with no money. His solution? print more. The result was notes with trillion-dollar denominations that now sell as collectors items on eBay. The economic condition got so bad that people carried piles of cash to buy daily supplies as inflation tripled. Many adopted the barter system for a while to overcome the valueless currency. Mugabe finally replaced the Zimbabwean dollar with U.S. dollar to overcome the hyperinflation. The country now uses U.S. dollar and has stabilized its inflation rate. In an interview with a local publication John Mangudya, Zimbabwe Reserve Bank Governor said Yes, we import cash almost every week and we are now importing $10 million on a weekly basis. When we say we import cash, we say we import dollars because we said we want to continue us Continue reading >>

Btc Trading For $12.5k In Zimbabwe

Btc Trading For $12.5k In Zimbabwe

Zimbabwe, facing massive hyperinflation turns to Bitcoin - prices soar on local exchanges. Bitcoin is trading at a huge premium on local Zimbabwean exchanges, as the embattled country struggles through another bout of hyperinflation. At press time, BTC was selling on the local exchange, golix.com , at $12,500. The substantial premium - nearly double the price in the US - is likely connected to the difficulty in obtaining access to other international exchanges. The country has been in the news in recent years for its massive levels of inflation, often creating situations where locals are forced to carry entire backpacks of Zimbabwean dollars to the market for some simple groceries. In an economy where such inflation rapidly devalues whatever funds consumers have an externally fixed currency like Bitcoin creates a stable and usable marketplace where none existed before. Market forces in nations with weak or very weak fiat currencies are driving prices for Bitcoin, as tens of thousands of new users capitalize on the ability to exchange goods and funds in a simple and clean way. Obviously, the market at this stage represents an arbitrage nightmare, depending on which side of the transaction a consumer is on. However, the clear use case should give hope to Bitcoin bulls, looking to see the price increase to higher levels. Continue reading >>

How To Get Bitcoin In Zimbabwe

How To Get Bitcoin In Zimbabwe

Homepage Finance How To Get Bitcoin In Zimbabwe by William Chui ( @ChuiWilliam ) Read 18 Comments There has been a craze for Bitcoin over the last few months with interest in the cryptocurrency being driven higher by the cash crisis in Zimbabwe worsens. There has been a lot of international interest in how much bitcoin trades for in Zimbabwe, premiums reaching as high as 85% here, though, in reality, the money we are using is not really real its all RTGS/transfer. There are a number of people who have gotten in touch with Techzim wanting to know how they can lay their hands on the digital currency, seeing that most of the banks are no longer allowing one to make online payments with their local VISA and/or MasterCard using bond notes. There are ways for Zimbabweans to buy bitcoins and if youre looking to build your position, depending on how aggressive you are, you could be having a couple of BTC (thats the acronym for bitcoin) and smiling all the way to the bank! The nation is slowly heading back to the days of 2008, where most of the citizens survived on being sent money from out the country, in order to help and assist. If you know friends and/or family who send money home often then you can ask them to send back that money in the form of BTC. If they are overseas, get them to open an account on Coinbase.com (get them to sign up through that link and theyll get $10 free) and go through the whole verification process. If in South Africa, Luno.com will sort them out. They will needto be in the country legally and have a bank account, in order to fund their account. Once they have bought BTC, youll just need to give them your bitcoin address and have them send the money there. Depending on the agreement you have with them, youll then need to pay the person whom they wa Continue reading >>

Bitcoin Price Climbs To $12,400 In Zimbabwe

Bitcoin Price Climbs To $12,400 In Zimbabwe

Bitcoin Price Climbs to $12,400 in Zimbabwe Join our community of 10 000 traders on Hacked.com for just $39 per month. The bitcoin price has reached record levels this week, peaking at a global average of $6,634 on Tuesday morning. Whenever bitcoin reaches an all-time high, investors who have considered purchasing bitcoin but have yet to do so lament that they should have bought in when the price was lower. Its too expensive now, they complain.But while prospective investors in liquid markets grumble that $6,600 is too pricey, demand in emerging markets like Zimbabwe is driving local exchange rates far above the global average. Bitcoin often trades at a premium in developing markets, where demand is high due to the instability of local currencies but cryptocurrency trading volume is low. The most expensive bitcoins in the world are found on Zimbabwean exchange Golix, where the bitcoin price peaked at $12,400 on Tuesday, representing an 87% premium over the global average. This is a $2,400 increase since October 20, while the global bitcoin price has risen by about $1,000 during the same timeframe. The source of this phenomenon extends back to the previous decade, when few people anywhere much less in Zimbabwe had heard of bitcoin or cryptocurrency. In 2009, Zimbabwe replaced its national currency with the US dollar following rampant hyperinflation that forced the countrys central bank to begin producing 100 trillion dollar notes. However, there are not enough US dollars in the country to meet demand, and the prices of government bond notes that purportedly have equal value to dollars have plunged on black market exchanges, in part because they are not accepted by foreign entities. Banks have begun rationing US currency, and CCN detailed how Zimbabweans wait in line for Continue reading >>

Bitcoin Prices In Zimbabwe Soar After Military Takeover | Fortune

Bitcoin Prices In Zimbabwe Soar After Military Takeover | Fortune

In Zimbabwe, a country where hyperinflation led to $1 being worth 35 quadrillion Zimbabwean dollars , the relative security of cryptocurrency already came at a premium. The recent military takeover of the capital which generals insist is not a coup has made made the problem even worse. Bitcoin prices have risen 10% to $13,499 on Golix, the troubled nations only cryptocurrency exchange. That figure is nearly twice the $7,000 Bitcoin price on U.S.-based exchanges such as Bitfinex. The surge has been fueled by Zimbabwean investors seeking a safe haven from domestic banks amid the countrys ongoing political, financial and monetary woes. While Zimbabwe once had its own currency, it began using a mix of currencies from stable economies including the U.S. dollar in 2009 after hyperinflation made its own note nearly worthless . But, as the countrys political situation has worsened, Zimbabweans have continued to hoard money and park it in assets such as Bitcoin a move that in turn intensifies the countrys lack of hard cash circulating in the economy. Meanwhile, citizens are also worried that the countrys recently introduced bond note currency could spur another round of hyperinflation. Notably, its not exactly a deluge of investors flooding into Bitcoin in Zimbabwe. In the last 30 days, Golix has recorded about 146 Bitcoin trades. Thats nearly the same volume traded on the U.S.s largest exchange Bitfinex every 15 minutes, according to Web Begole at Exante Data. The low liquidity is also likely causing wide swings in the Bitcoin prices on the exchange. On LocalBitcoins, a peer-to-peer bitcoin platform , some sellers are offering Bitcoin at close to the global average of $7,400. Curiously enough, despite Zimbabwes weak economy, investors have also looked to equities to protect ag Continue reading >>

Zimbabwean Exchange's Monthly Bitcoin Volume Hits $1 Million

Zimbabwean Exchange's Monthly Bitcoin Volume Hits $1 Million

Zimbabwean Exchanges Monthly Bitcoin Volume Hits $1 Million Join our community of 10 000 traders on Hacked.com for just $39 per month. Bitcoin is increasingly becoming a store of value in Zimbabwe as inflation starts to creep up and prices sky-rocket, with investors ditching monetary assets, experts said this week as the price of the crypto-currency skyrocketed. Zimbabwe is battling foreign currency shortages and this has resulted in a crippling liquidity crisis. Bitcoin has emerged as a popular store of value and the Golix exchange platform for bitcoin in Zimbabwe says it handled bitcoin transactions worth $1 million during the month of October 2017. Bitcoin prices in Zimbabwe have skyrocketed to $12490 by Thursday morning compared to global averages of about $6000. There is high anticipation that the price of bitcoin will continue to rise in Zimbabwe as more and more people embrace it owing to difficulties in effecting international payments. There is inflation setting in in Zimbabwe and bitcoin is an interesting store of value, Taurai Chinyamakobvu, a tech and blockchain expert in the country, told CCN. Officials at the Golix trading platform in Zimbabwe say demand for bitcoin has been soaring. The exchange only facilitates trade and officials say sellers of bitcoin in Zimbabwe accept mobile money and bank transfers. Yeukai Kusangaya who facilitates trade deals at Golix told CCN in an interview this week that there is more demand than supply of bitcoins in Zimbabwe at the moment. The demand is spurred by difficulties in effecting international payments. Banks and mobile money platforms have disabled Visa and MasterCard credit and debit cards for international payments and this has left many people in Zimbabwe stranded. Bitcoin can be used to pay for vehicle imports Continue reading >>

Bitcoin Price Doubles To 10,000 As Zimbabwe Crisis Hits - Mugabe Ousted | City & Business | Finance | Express.co.uk

Bitcoin Price Doubles To 10,000 As Zimbabwe Crisis Hits - Mugabe Ousted | City & Business | Finance | Express.co.uk

Robert Mugabe is under house arrest in Harare Worried locals have queued for hours to take hard cash out from their banks Bitcoin climbed as much as 10 per cent on Zimbabwes Golix exchange This is not an unusual sight in Zimbabwe, however. The country replaced its own currency with US dollars in 2009 after a financial crash caused by hyperinflation. And in the last year, a shortage of hard cash has left people queuing for hours in order to withdraw their money. Zimbabwes army moved into the capital, Harare, on Tuesday after a week of confrontation with President Robert Mugabes government. Zimbabwe: How people in Zimbabwe are reacting Zimbabweans were weighing an uncertain future without President Robert Mugabe on November 16 after the army took power and placed the 93-year-old veteran, once seen as a liberation hero, under house arrest People cross a street in the Zimbabwean capital Harare [AFP/Getty Images] Military bosses said the action was needed to stave off violent conflict in the southern African nation that he has ruled since 1980. After storming a state television station soldiers made a statement claiming they have intervened to target criminals around Mugabe. Zimbabwes military chief said the army wanted to deal with people who "were committing crimes that are causing social and economic suffering in the country. He added: As soon as we have accomplished our mission, we expect that the situation will return to normal." Continue reading >>

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