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.
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