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?
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?
| Permalink | E-mail this post 
