CNN: Zimbabwe introduces $100 billion banknotes
Zimbabwe’s troubled central bank introduced $100 billion banknotes Saturday in a desperate bid to ease the recurrent cash shortages plaguing the inflation-ravaged economy.
The bills officially come into circulation Monday, although they were on the foreign currency dealers market Saturday.
As high as they are, though, the bills still aren’t enough to buy a loaf of bread. They can buy only four oranges.
The new note is equal to just one U.S. dollar.
Once-prosperous Zimbabwe has seen an unprecedented economic meltdown since it gained independence in 1980, with the official inflation rate now at 2.2 million percent.
Robert Mugabe turned a relatively prosperous nation into an economic wasteland.
Filed under: Crazy liberals, Everything Else , Crazy liberals, inflation, Morgan Tsvangirai, Robert Mugabe, Zimbabwe
