Zimbabwe’s 100-billion-dollar note

20 07 2008
A Zimbabwean man holds new 500-million-dollar notes

A Zimbabwean man holds new 500-million-dollar notes

Zimbabwe, dealing with a record 2.2 MILLION percent inflation, has introduced a new 100-billion-dollar note that will go into circulation July 21 joining about a half dozen high denomination notes including 100 million, 5 billion, and 25-billion-dollar notes. The south African country has been undergoing hyperinflation whcih has shot up from 165,000 percent in February to 2.2 million in May. Independent economists say that this percentage is grossly understated, saying that it is estimated more around 10 to 15 million percent, either way, that’s still bad. Zimbabwe’s accustomed economic crisis has left at least 80 percent of the population living below the poverty threshold and mass shortages of basic goods in shops. 

-Shadow

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