Zimbabwe Introduces $100,000 Note

Sad news from Zimbabwe…

Zimbabwe is introducing a bank note worth 100,000 Zimbabwe dollars, to help consumers as inflation exceeds 1,000%.

The note will be worth about $1 at the official exchange rate, but only $0.30 on the informal market.

The 50,000 Zimbabwe dollar bill, introduced only four months ago, is not enough to buy a loaf of bread.

Zimbabwe is suffering from shortages of food, fuel and foreign currency. In April, inflation passed 1,000% per annum for the first time.

[Source: BBC News]

News like this truly breaks my heart.
I remember a beautiful, great, stable, ever flourishing Zimbabwe from my childhood, and then I see its state today, and it really saddens me.
What a big big shame.

[Via: The Emirates Economist]

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