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Zimbabwe Has Economic Problems Too!
July 23, 2008



Zimbabwe has been in the news the better part of the last two years with particular attention paid to their political situation - a contested election and many random ethnic killings.

Much of that hate stems from the spiraling economy. The past several years the national inflation rate has been around 4,000 %. An awful situation for a poor country.

In August, 2006 the Reserve Bank of Zimbabwe instituted a monetary reform, and this year several new notes have been issued in a series which began with denominations of 1, 5, 10 50 cents and 1 dollar.

Within the last few weeks the Reserve Bank has issued a 50 Billion Dollar note.

Yikes.

George



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About the Author
George Cuhaj has been with the Krause Publications numismatic team since 1994. He is editor of the various editions of the Standard Catalog of World Coins and the Standard Catalog of World Paper Money. Prior to joining KP, Cuhaj was employed by the American Numismatic Society and Stack's Rare Coins, both of New York City. He is a Fellow in both the Royal Numismatic Society and the American Numismatic Society. He also is a life member and past board member of the International Bank Note Society. Cuhaj was elected an Allied Professional Member of the National Sculpture Society and has had his medallic work exhibited internationally.

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