Zimbabwe introduces 100-billion-dollar note

"Real Value"?????

It's hard to imagine a new story closer to parody. Imagine if someone suggested this was possible when Mugabe took power?

Consider what it means – the breadbasket of Africa reduced to ruin. It is a very sad state of affairs. Zimbabwe used to be one of the richest countries in Africa.

A decade ago Zimbabwe's economy was almost twice as big as it is now.

But today, female life expectancy stands at 34 years, while for males it is 37 years. Zimbabwe has the lowest life expectancy in the world.

And Zimbabwe’s utter failure is symbolized by a single news item.

A 100-billion-dollar bank note.

And this in a country with good farmland, natural resources and a competent, well-educated workforce with a tradition of hard work

“Zimbabwe, grappling with a record 2.2 million percent inflation (official; independent economists however believe the official inflation figure is grossly understated, estimating it could be running between 10 million and 15 million percent) has introduced a new 100-billion-dollar bank note in a bid to tackle rampant cash shortages, the central bank said Saturday.

The new note will go into circulation on Monday, the bank said in a statement cited by state media, joining about half a dozen new high denomination notes already issued this year.

Zimbabwe's chronic economic crisis has left at least 80 percent of the population living below the poverty threshold and mass shortages of basic goods in shops.”