Jul 21 2008

Hyperinflation in Zimbabwe

Published by Ian at 10:02 pm under Economy, General News

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Still speaking about the crisis in economy? Don’t worry, nothing in the USA is that bad yet! In Zimbabwe you can buy tomatoes on the market for 5 million dollars. Zimbabwe introduced a 100-billion-dollar banknote because of the extremely high inflation and the official inflation has gone over 2,200,000% a year, while some economists believe that real growth is even higher.  Zimbabwe is in a desperate situation now with 80% unemployment and constantly rising inflation. At the beginning of March the exchange rate 20m for 1 US dollar, now it’s already 40m.

 

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