Current Events Summary #2

Once again inflation in South Africa has risen 0.5%, but economists believe this is a historical mark rather than a bright future. High food prices are the main cause of this rise and many banks have been forced to raise interest rates to 10% in an attempt to curb the rising inflation. Veering off topic, but what could potentially be an economic gain, an enormous gem donned with the prestige of “The World’s Largest Diamond” has been found in South Africa. The gem is over 6,000 carats. According to reporters, when put on a garage grinder the, rock did not chip, it did not even scratch. Many people believe it is a diamond, while the experts and inspectors believe it cannot be one. "The crystal looks far too perfect and it looks like it's a fluorite crystal or something else. I'd be extremely surprised if it was a diamond." Said James Allan. This gem could be a spark in the economy of South Africa because it could sell for a lot of money, but overall with the rise of inflation, South Africa’s economy is plummeting out of control at an ever increasing rate. The future of South Africa’s economy is looking very grim.