Sad news from Zimbabwe…
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]