Zimbabwe inflation soars to 2.2million%

[Pat]

Zimbabwe's official rate of annual inflation has hit 2.2m%, the country's central bank said today – a 13-fold increase on the last official rate, in February.


"Statistics provided by the CSO [Zimbabwe's central statistical office] indicate that [inflation] is now at 2.2m%," the AFP news agency quoted the bank's governor, Gideon Gono, as saying in a speech in Harare.


Inflation has spiralled wildly amid an almost complete collapse of the Zimbabwean economy in recent years, which has prompted around 3 million people to flee the country for South Africa. An estimated 80% of Zimbabwe's population live in poverty, and life expectancy is 37 for men and 34 for women, the world's lowest.


*www.guardian.co.uk/world/2008/jul/16/zimbabwe


Just for the record:
150 Billion Zimbabwe Dollars = 1 Pound (or 80 Rs.)


1 KG of apple in Zimbabwe sells for about 15 Million Zimbabwe Dollars!
Incredible

 

[Plasma_Snake]

Oh I think now I can finally buy a country

 

[Indyan]

This is really sad. Really the UN needs to me more strict with Zimb. I dont know why 2 of the big 5 (i think Rus and China) vetoed the UN resolution.

 

[kumarmohit]

See how one man F**K and entire country!

 

[confused!!]

^^Very true..

 

[Pathik]

Seriously. He screwed up their entire economy with one stupid decision.

 

[nvidia]

Aww.. Bad news.. Even if you have a few million dollars, you cant buy anything!

 

[ThinkFree]

Surprised to read that.!!!

 

[anispace]

yeah the UN must do something about Mugabe`s dictorial regime.

 

[dreamcatcher]

Our inflation up to 11.89%.

 

[adi007]

South Africa is better than Zimbabwe
really that's strange and shocking....

 

[naveen_reloaded]

Why cant the f.cking us stop those war and amount wasted in wars and help these poor people......

 

[RCuber]

Interesting ...

more abt this hyperinflation in wiki
talking abt burning money....!!!

*upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Inflation-1923.jpg/250px-Inflation-1923.jpg
1923 Weimar Republic inflation: A German woman feeding a stove with Papiermarks, which burned longer than the amount of firewood people could buy with them.

*img329.imageshack.us/img329/5338/hyperinflationwf7.jpg
*img329.imageshack.us/img329/5338/hyperinflationwf7.550ed396d7.jpg

 

[Pathik]

Thats quite enterprising.
That reminds me of Ambani who melted coins in Yemen cos their metal value was more than the currency value.

 

[Indyan]

Found this in wikipedia :

The government instituted a six-month freeze on wages on September 1, 2007. It bars businesses from indexing wages or fees to inflation, a method employed in many wage agreements.

*en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe

This is crazy. Stop your bs land reform policy. Outlawing inflation or using tricks like these would never work.

 

[MetalheadGautham]

atleast there is a small silver lining. since most of africa shares the same culture and language, along with religion, its easier for Zimbabwe citizens to migrate elsewhere.

 

[goobimama]

And here I was worried when the pwnage tool for the iphone is going to be released...

 

[MetalheadGautham]

And here I was worried when the pwnage tool for the iphone is going to be released...

but don't you think its somewhat odd now ? that we people discuss about technology, engage in fan wars and start eagerly waiting for different hardware, while at the same time, those poor people of zimbabwe suffer, with their money seeming more worthless than ever and the government being forced to print 1,000,000$ notes ?

 

[enticer86]

Thats so sad actually.
And we are upset with the <12% figure.

The upside is with just 1Re, we can buy 577,882,197 Zimbabwe Dollar.

Millionaire anyone?

 

[MetalheadGautham]

thats it. I am going to invest 100 rupees in zimbabwe dollar. later, when mugambe or what ever his name is gets murdered, the country will fall back to normal and I can go to zimbabwe and get myself a few alienware rigs.