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Tuesday, July 22, 2008

Do You Have Change for a 100 Billion ?



In Zimbabwe the government is issuing a note worth 100 billion . z$100,000,000,000 because inflation is humming along at over 2 million percent annually. Zimbabwe’s woes have put 80% of the population in poverty.

In January, a 10 million note was issued followed by 50 million, which just last month hit tens of billions. The new notes are referred to a agro-cheques.
"This new $100 billion special agro-cheque will go into circulation on Monday," the notice said. But Zimbabwe residents say the latest note is already worthless, and does not even cover their daily lunch. "Nowadays, for my expenses a day, I need about Z$500 billion," one resident said. "So Z$100 billion can't do anything because for me to go home I need Z$250 billion, so this [note] is worthless." (news.bbc)

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