What do you expect when developing and low-income countries depend so much on the importation of basic goods and services and with no production power, I learned that there is a country in Africa where toothpicks are imported into the country, so for such a country that is so dependent on other countries for such a minimal thing like toothpicks it means the economy of such a state will be grounded and also uncontrollable inflation or even recession can take place in such an economy.
I'm not from Africa but my country is in the same situation. We can't produce match sticks, can't produce paper towels, we can't produce anything, there are almost no factories in my country, even the postal service sucks, e-commerce doesn't exist, and delivery takes a few days while in the USA with express shipping you can deliver something from one place to another in a single day while my country is one of the smallest country.
alot of people are crying about inflation, but its obvious they are under 30yo
things like mortgage interest rates were over 10% and bank account reward interest was over 5% 30 years ago, and yet people are crying murder if it goes above 2-5%
yes since 2008 interest went under 1% but now things are going back up, but no where near old amounts
if you think 3-5% is hyper inflation, then you live in a country thats never experienced it
I agree with those people who cry about inflation. In my country, there is always 10-12% inflation every year and people are okay about that. For example, the price of food can be 1$ and become 1.5$ in the next month but no one will protest. That's not a good thing, that inactivity makes our country a terrible place to live. This is what I love about French people, they protest everything, even a single price increase, that's why they have a better country than us, in my opinion.
