Friday, January 16, 2009
Zimbabwe issued a $100 trillion bill today (January 16th, 2009) to combat its hyperinflation.
This new 100,000,000,000,000 Zimbabwean Dollar bill is currently worth about 300 US Dollars OR 225 Euros.
Zimbabwe got independence from British in 1980 and 1 Zim-dollar was worth of about 1.5 US Dollars then.
The Zimbabwean economy collapsed since the introduction of land reforms in 1998,
to re-distribute the farm lands from white farmers to blacks.
The international sanctions imposed by Western Countries for its transition to democracy,
created a severe impact to the already collapsed economy leading to hyperinflation and devaluation of the Zimbabwean Dollar.