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100 billion dollar notes for Zimbabwe

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Published Date: 20 July 2008
THE central bank will introduce new higher-value 100 billion Zimbabwe dollar notes tomorrow as part of a desperate fight against spiralling hyperinflation.
Zimbabweans are suffering chronic shortages of meat, maize, fuel and other basic commodities due to the collapse of the once prosperous economy, which critics blame on President Robert Mugabe's policies, including his violent seizure of white-owned farms.

Central bank governor Gideon Gono announced last week that inflation had surpassed 2.2 million per cent, though some economists put it much higher.

In a notice in the official Herald newspaper yesterday, Gono said the Reserve Bank of Zimbabwe would introduce 100-billion-dollar agro-cheques (notes), to help consumers who need to carry large wads of cash even for simple transactions.



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  • Last Updated: 19 July 2008 7:45 PM
  • Source: Scotland On Sunday
  • Location: Scotland
  • Related Topics: Zimbabwe
 
1

Biker,

Ayr 20/07/2008 08:43:26
Zimbabwe and surrounding area used to be the bread basket of africa, and now look at it. 100 billion dollar note indeed. China and Russia must take some responsability for this fiasco, as without their tacit support Mugabe and his thugs would never last. M'beki as well.
2

Media 1,

cape town 20/07/2008 09:22:07
Biker

Nobody need accept responsibility for the mess in Africa. We need to get away from this thinking that Africa's position is in some way the responsibility of someone else, it isnt. Africa is a mess because black Africa has been thus far, incapable of progress. There is a saying on this continent that the difference between a visitor and a racist is 3 months. And whilst the comment is crass and out of order, the truth behind it is undeniable.
People who have always been totally against any form of racial discrimination find that once you live in Africa you dont become a racist, you become frustrated by the constant day to day, week to week, month to month and year to year failure and incompetence at almost every level of society. After a while you become so frustrated and so annoyed by the total lack of service, responsibility and intelligence on offer that you find you are left with no choice but to point fingers. Problem is, when you do that you are called a racist, because that is the easiest way to diffuse any conversation surrounding the reasons for the frustration being felt.
If we begin to discuss the frustrations and how they arise, we will need to open a door marked "constant African faliure" and that is a door that most on this continent want to keep shut.
Cmon, a 100 billion dollar note, a sham election, starving millions and a supposedly responsible SADEC community who do nothing to remove the tyrant. Is it any wonder this lot toil and sweat? Is it any wonder they receive such harsh criticism? Wake up and realise that this continent fails because this continent is a failure.
3

Itchy,

20/07/2008 10:00:46
Once again, conclusive proof that Socialism is a total failure.

I wonder where the 'useful idiots' who always cheer on Fidel Castro are when Robert Mugabe makes the news.
4

A.W.,

texas 20/07/2008 16:19:05
Where are all the White liberals that brougt this about ???
5

Western Gael,

20/07/2008 16:21:11
As I seem to recall through the veil of a memory dulled by the passing years, the French at least had the wit to address their problem by issuing the "New Franc." Granted, France at that time was a functional nation-state; Zimbabwe is just a basket case run by a classic tin-pot dictator.
6

Here Today HBOS Tomorrow,

20/07/2008 21:54:11
#3 socialsm? I am not socialist but this has nothing to do with socialsm or indeed any other political dogma - and I say that as someone who has had family who were forced to flee Zim with not much more than a few hundred dollars. This is down to a few issues, firstly the inability of almost any African state to criticise and thus undermind Mugabe - As most are not in any position to criticise and secondly rabid corruption. There was some merit in land redistribution and ensuring that the black population are able to rise above some of the white idiots that remained in control of many large parts of the economy until about 2000, but this was nothing other than a disguise to pay off those who were keeping Mugabe in power. Speak to most former Zim residents and they will tell you that those that may follow in Mugabe`s footsteps (with the exception of the MDC) are probably far worse than Mugabe himself. Unless there is a genuine uprising against Zanu-PF the residents of Zim will end up in nothing more than a "tribal" homeland surrounded by corrupt and genocidal maniacs. Sadly no other African state will step into help as none has the desire to do so. Even SA the alleged beacon of the continent as so far done absolutely nothing, but this should come as no surprise as Mbeki has yet to acknowledge that HIV also leads to AIDS. Apparently he read it on a website that accepted science in this area is not true.... I for one will be giving no more money to anything in Africa until such times as the states to which the money is given can show they are capable of giving a sh*t about their people.
7

Bigwull,

edinburgh 21/07/2008 14:00:22
3 get a grip.
The nordic countries are more of an example of what socialism can achieve, Zimbabwe is a totalitarian state run by thugs and nutjobs, nothing to do with socialism.

 

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