January 23, 2008

10 million dollar bill

The Zimbabwean bank has just issued a 10 million dollar bill which increases the denomination of the nation's highest bank note more than tenfold. Notes of 1 million and 5 million dollar bills have also been issued to try to stop the constant shortage of cash due to the 25 000 percent inflation.

The new 10 million note is the equivalent of about £2 at the dominant black market exchange rate. A hamburger at an ordinary cafe costs about 15 million Zimbabwe dollars (£3).

That hamburger has trebled in price this month amid shortages of bread, meat and most basic goods.
The Zimbabwean people will also be allowed to daily withdrawal 500 million Zimbabwe dollars (£100) from 50 earlier only million (£10). Even though the government doesn't think it is desirable to see the people queuing for cash. So what is desirable for them? To see that what once was one of the most prosperous countries in Africa being ruined by man who only see to himself and blame the western world for every malice ever happened? Scary, very scary.

No comments: