Saturday, November 17, 2007

Cash runs out in land where the bus fare is 1.6 m dollars

Other countries stricken by hyperinflation have coped by printing vast quantities of banknotes with rapidly increasing numbers of zeroes.
In Zimbabwe, however, the phenomenon of “Mugabenomics” has delivered a three-headed monster — exponentially rising prices, a critical cash shortage, because the Government regards adding new rows of zeroes on the banknotes as an admission of defeat, and virtually nothing to buy in the shops because price controls have destroyed the retail trade.



Via Theo

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