Zimbabwe’s Hyperinflation Solution: Slash Zero’s

Our friend Gideon Gono (Governor of the Reserve Bank of Zimbabwe) has decided to tackle the ultra-hyperinflation pummeling Zimbabwe in one fell swoop. His solution? Lopping zeros off of the Zimbabwean Dollar — ten of them! That means, as of August 1st, a 10 Billion Zimbabwean Dollar (ZWD) bill will be worth one ZWD. That’s a 10 000 000 000 : 1 ratio…. or a 99.99999999% devaluation!

A report from the BBC helps to put things into perspective, 100 Billion ZWD will buy a few eggs, with a try of 24 eggs costing somewhere around Z$600bn.

Tags: gideon gono, hyperinflation, inflation, zimbabwe, zwd

This entry was posted on Thursday, July 31st, 2008 at 1:14 pm and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Zimbabwe’s Hyperinflation Solution: Slash Zero’s”

Letter Re: Currency Inflation Expectations for the US | Islamic Alert - Islamic Alert: Islam and Terrorism In The Daily News. Islamic Jihad, Islamic Terrorism, Islamic Blogs, The True Nature of Islam. Says:
October 21st, 2008 at 10:40 pm
[...] you shall grant a remission of debts" - Deuteronomy 15: 1). Because without a Jubilee, even Gideon Gono couldn’t come up with the cash needed to settle the mountain of debts and [...]
Casino 492cfeff6b Says:
November 26th, 2008 at 10:39 am
Casino 492cfeff6b…

Casino 492cfeff6b…

misbah.org

Zimbabwe’s Hyperinflation Solution: Slash Zero’s

2 Responses to “Zimbabwe’s Hyperinflation Solution: Slash Zero’s”

Leave a Reply