Sunday, July 20, 2008

Zimbabwe currency becoming ridiculous...


Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of a loaf of bread. 

Some Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has exceeded 2,200,000%. 

Independent economists believe the real rate is many times higher. 

Zimbabwe's meltdown has left at least 80% of the population in poverty, facing mass shortages of basic goods. 

The country's central bank has introduced several new notes already this year in response to the hyperinflation. 

In January, a Z$10 million note was issued, followed by a Z$50 million. By June the denominations had reached tens of billions.  More...

See also: Is Africa becoming a Chinese colony?

And this: British town Lewes to create its own currency...

And this: Sorie Kondi: Without Money, No Family...

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