Zimbabwe Hyperinflation Leads to Agro-cheques
By: Going Like Sixty -
Published: Jul 21, 2008 Updated: Aug 3 2011 • References: news.bbc
Pardon me, can you spare a five billion for lunch? 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.
Implications - If the inflation in Zimbabwe continues to increase at this quick and exponential rate, it won't be long before a trillion dollar bill is officially stamped for use by Zimbabwe citizens.