This is the current foreign exchange rate in Zimbabwe. To reduce the burden of bundles of currency notes to buy things worth few US dollars, Zimbabwe is introducing Z$100 trillion currency note and other trillion-dollar denominations. But will this move really help in tackling hyperinflation and failing economy?
As political crisis continues in Zimbabwe, economy seems to be going downhill fast. The inflation rate stands at 231m%. How many zeros would that mean? And what can one buy with a trillion dollar currency? Maybe not even a square meal. Food and fuel prices are going up every day. Just adding and subtracting zeros from currency notes is not going to solve grave economic crisis.
President Robert Mugabe and Opposition leader Tsvangirai are yet to sign a deal on power sharing which will resolve political deadlock over power sharing and give a stable government to a nation which has been suffering for long time under Robert Mugabe’s regime. It is the very political crisis which has almost brought country to close to oblivion.
Apart from political and economical crisis Zimbabweans are facing total collapse of infrastructure including water, health and sanitation. Recent cholera epidemic has claimed more than 2,000 lives. It is really sad that an entire nation is drowning and yet there is no rescue act!
Via BBC