This South African country is on the verge of collapse with its economy, public health and food facing the worst crisis which one could ever imagine.
Zimbabwe is experiencing a major currency shortage, which has led to hyperinflation and the current inflation rate is a staggering 231 million%. The prices there are doubling on a daily basis and 200,000 Zimbabwe Dollar is used to buy a loaf of bread.
As a result of this crisis, the Reserve Bank of Zimbabwe has launched a 200 million dollar note which is worth just 28 US Dollars. As on 6-Dec-08, value of 1 Indian Rupee = 2196 Zimbabwe Dollar.
As per forecasts, the inflation of Zimbabwe can go as high as 89.7 sextillion. Each sextillion is equal to 10 multiplied 21 times, consider the figure when million is just 10 multiplied six times.
Wonder what will happen, if one goes out to buy a car, infact he may need the whole car full of notes then.
Find this article at: http://www.labnol.org/india/knowledge/economic-shocks-of-zimbabwe/5870/
Reader Comments
Pakistan is next. If it wasn’t for the US aid it would already be a failed state. US is threatening Pakistan to put its house in order or be added to the terror list.
We might soon see a 1 billion Pakistani rupee note.
Written by Sriram Vadlamani on 12.07.08
Now Zimbabwe rolls out 100 trillion $ note.
Written by Squamble on 01.17.09