Tuesday, December 2, 2008

Zimbabwe Financial Crisis

If you think that the current economic crisis is something that has never happened in history before, you may be wrong! After the collapse of the agriculture sector in Zimbabwe in 2000, the inflation in that country skyrocketed to 231 million percent a year! Just think about it - 231 000 000%!

Unemployment went up to 80% and a third of country’s population left it.Let`s now have a look at the photos that you may not be able to see anywhere else in the world.Here is a boy getting change in 200 000 dollar notes!

One 200 000 dollar note equals less than $0.10 cents.

December 22nd, a new note of 500 000 dollars introduced to the market!

Next - 750 000 dollars.

January 07 - new note of 10 million dollars.
(its funny how they still can laugh about it)

This US $10 dollar note is 10 times worth more than the 10 million dollars Zimbabwe note.
youngest millionaire

A case worth 65 billion Zimbabwe dollars which equals to $2000 US dollars.

This guy is going to a supermarket. The exchange rate is 25 million Zimbabwe dollars for 1 US dollar.

This mountain of cash is worth $100.50 Million note is then introduced!

Next is 250 million dollars note!

Sorry, how much is this t-shirt?- It`s cheap, only about 3 billion dollars!

May - a note of 500 million dollars is introduced!

June - note worth 25 and 50 billion are printed.And finally - 100 billion dollars note!

What can you buy for it? Well, these 3 eggs for example.

Thats how people went to restaurants!

And the bills:In August, the government devalued Zimbabwe dollar by removing 10 zeros from notes.However, inflation kept going up and in September for this amount of cash you could only buy 4 tomatoes.And for this - some bread.

And then it started again: 20 000 dollars note in September.50 000 a couple of weeks ago!

They`ve got a pretty good chance of hitting billion dollar notes again by the end of this year! 2008.