Zimbabwe, we got some problems. HARARE, Zimbabwe (CNN) -- Zimbabwe's central bank will
introduce a $50 billion note -- enough to buy just two loaves of bread
-- as a way of fighting cash shortages amid spiraling inflation.
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..Zimbabwe's dollar is virtually worthless, with foreign currency now being used to purchase basic items...
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The country's acting finance minister, Patrick Chinamasa, made the announcement in a government gazette released Saturday.
Although Chinamasa did not give the date on which the $50 billion and
new $20 billion notes would come into circulation, an official at the
Reserve Bank of Zimbabwe said the notes would be distributed to all
banks by the end of Monday.
That doesn't bode well for their economy, now does it. When the U.S. dollar, which is not exactly soaring itself, goes for 25billion Zimbabwe dollars, you are officially in trouble.