Post on 01-Apr-2015
Hyperinflation in Zimbabwe
2000-2007 hyperinflationinflation rates as great as 25,000 %• 2008 1 egg = ZW$50 billion (US32 ¢)
Lottery would pay ZW$1.2 quadrillion (1.2 x 1015)
4 redenominations / price controls
2000-2007
• Agricultural production falls 51%• Industrial Production 47%• GDP falls 40%• Money Supply increases by more than 500B %
(2008 estimate)• 94% unemployment• Election Fraud• Human Rights abuses• Redistribution of farmland
Now
• Legalized foreign currency transactions 2008/9– Zimbabwe has no currency; uses dollars,
rands, other currencies.
• Government of Unity (new power-sharing coalition)