Saturday, January 17, 2009

Zimbabwe crumbling - Reserve bank unveils $100-trillion note

$100 billion notes are no longer good enough as prices double every day.
Zimbabwe to introduce 100 trillion dollar banknote16.January 2009Zimbabwe’s central bank will introduce a 100 trillion Zimbabwe dollar banknote, worth about $33 on the black market, to try to ease desperate cash shortages, state-run media said on Friday.Prices are doubling every day and food and fuel are in short supply. A cholera epidemic has killed more than 2,000 people and a deadlock between President Robert Mugabe and the opposition has put hopes of ending the crisis on hold.Hyper-inflation has forced the central bank to continue to release new banknotes which quickly become almost worthless.[...]

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