Zimbabwe & Inflation
Do you know how much is a trillion? Earlier this month, Zimbabwe introduced a Z$100 trillion note ( which is equivalent to just US$ 30 !). The inflation ( price rise) stands at 231 million % in the country. Due to poor economic management and heavy trade sanctions , the unemployment rate stands at 80% in the country.
It is a shame that in the 21st century, we are mute witness to one of the worst humanitarian and economic crisis in the world. With no job, imagine having to pay Z$ 1.6 trillion for a loaf of bread.
Do you know how much is a trillion? Earlier this month, Zimbabwe introduced a Z$100 trillion note ( which is equivalent to just US$ 30 !). The inflation ( price rise) stands at 231 million % in the country. Due to poor economic management and heavy trade sanctions , the unemployment rate stands at 80% in the country.
It is a shame that in the 21st century, we are mute witness to one of the worst humanitarian and economic crisis in the world. With no job, imagine having to pay Z$ 1.6 trillion for a loaf of bread.
Labels: 100 trillion note, Zimbabwe
posted by Cogito at
Saturday, January 17, 2009
1 Comments:
Surely an Indian IT engineer in ZImbabwe will be making good money inspite of this Inflation.
By
gormandizer, at 5:07 PM
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