Text Only
Search

Zimbabwe to Introduce $100 Billion Bank Note

20 July 2008

Zimbabwean foreign currency dealers conduct transaction using money stashed in cooler box in Harare (Oct 2007 file photo)
Zimbabwean foreign currency dealers conduct transaction using money stashed in cooler box in Harare (Oct 2007 file photo)
Zimbabwe will introduce a $100-billion bank note as the nation continues to struggle with the world's highest inflation rate.

The latest addition to the country's currency will begin circulating Monday, less than a week after Zimbabwe's bank chief announced the country's inflation rate had skyrocketed to 2.2 million percent.

The Reserve Bank of Zimbabwe released six other high-value notes earlier this year, including a $50-billion note in May.

Zimbabwe's economy is in a free-fall with 80 percent unemployment.

The country, which is in the middle of a political crisis, is also suffering from chronic shortages of food, fuel, and other basic goods.

Critics blame the troubles on the policies of President Robert Mugabe, especially the seizure of white-owned commercial farms.

Mr. Mugabe blames interference by outsiders, led by former colonial power Britain.

Some information for this report provided by Reuters and AFP.

 

emailme.gif E-mail This Article
printerfriendly.gif Print Version

  Related Stories
Zimbabwean Workers Overwhelmed By 2 Million Percent Hyperinflation
Zimbabwe Moves to Formal Talks to End Political Crisis
Police In Gweru, Zimbabwe, Raid NGO Offices, Arrest Organizer
 
  Top Story
Berlin to Mark the 20th Anniversary of the Fall of the Berlin Wall  Audio Clip Available  Video clip available

  More Stories
Suicide Bomber Kills 3 in Northwestern Pakistan
APEC Economies Report Improved Trade Finance, Discuss Free Trade  Audio Clip Available
Israel's Netanyahu, Obama to Meet Monday
Scientists Report Abnormal Sea Level Rises Off Western Australia  Audio Clip Available
Obama: Iraq Election Law an "Important Milestone"  Audio Clip Available
Iraqi Parliament Approves New Electoral Law After Raucous Debate  Audio Clip Available
US Army Chief of Staff: More Troops Needed in Afghanistan
Market Bomber Kills 13 in Northwest Pakistan
Clinton Urges Europeans to Bring Down "Walls" of Terrorism, Oppression  Audio Clip Available
Hurricane Ida Heads Toward Gulf of Mexico, Floods Kill 91 in El Salvador
Russia-Iran Relations Balancing on Nuclear Issue
Motive Sought for Texas Mass Shooting
Dalai Lama Rejects Chinese Criticism of Monastery Visit  Audio Clip Available
China's Premier Pledges $10 billion in Loans to Africa  Audio Clip Available
Netanyahu Heads to US Amid Crisis in Peace Process  Audio Clip Available
Japan Pledges More Aid to Burma if Political Prisoners are Released
WFP Making Inroads on Alleviating Hunger  Audio Clip Available
Deposed Madagascar President says He Will Work With Rival Who Ousted Him  Audio Clip Available
US Health Care Debate Continues on Partisan Lines