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July 20, 2008 

Zimbabwe May Seize Foreign Firms to Counter International Sanctions

Zimbabwe's Sunday Mail newspaper has reported that the Zimbabwe government "has begun auditing the ownership of Western firms in the country as part of a black empowerment drive' and to counter the possible withdrawal of investment under sanctions imposed and proposed by Britain and the U.S.'"

The preliminary results of the audit indicated that 499 companies in Zimbabwe had British ownership while 353 companies companies were owned by shareholders from other European countries.

Meanwhile, this week Zimbabwe will introduce a 100 billion Zimbabwe dollar bank note, as the country's inflation rate reached 2.2 million percent.

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