Monday, September 01, 2008 

I held a $10mn note in my hand

Except it wasn't USD. It was Zimbabwe dollars!

While attending Economics refresher classes in Bangkok last week, our teacher passed around a 10mn Zimbabwe dollar currency note. Guess its value?

Recent estimates claim its worth USD 0.10. That's ten American cents, or four Indian rupees!

No wonder Zimbabwe inflation officially hit 11,200,000% in August 2008. Consequently, a loaf of bread now costs 1.6 trillion Zimbabwe dollars!

How can such an economy possibly be saved?