More than 2.2 million%

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I was shocked seeing that number. It is the Inflation rate of Zimbabwe - HYPERINFLATION. The Fortune magazine reports as below.
“If purchased on the newsstand in Zimbabwe, the issue of Fortune you're holding would have cost you 270,543,825,555 Zimbabwean dollars.”
You need to carry cash in cartloads to buy simple goods like eggs and bread to the nearest departmental store where the store owner can only weigh the currency notes to deliver you the goods. He has no time to count those notes, even the IT system are struggling to handle the bank transactions which are giving a data overflow error. Of course the programmers would have never imagined the basic withdrawal transaction of an Automated Teller machines would ever be of billions of Zimbabwe dollars.
Parade magazine ranked Robert Mygabe the dictator of Zimbabwe one among the worst 10 dictators of the world. Of course this year he is going to top the list, in transforming a country, which introduced Zimbabwe dollars in the 1980s, at a conversion rate 1Z$ = 1.47USD. The transformation has been a collapse of a country, and I have seen these many days Zimbabwe for Cricket and never seen this worst governance in the country.
Worth of a 100 Billion  Carry Bag for Cash Currency does not give a good livingHe is going for purchase of GroceriesInflation Rate
ZWD-EUR_2008 (1)
These photos and graphs are relatively skewed too much in this country in the recent years.
The fate of the people here is a Big Question.
The Economic Imbalance of the world was very much shown in this, may be after this term if I am well equipped in Macro Economic theory I would really do a detailed analysis on the complete background of this.

1 comment:

  1. Real fact about the financial crisis...

    Stupid zimbabwe govt.

    ReplyDelete

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