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| Africa Subsaharan |
| Zim to slash 3 more zeros from currency in black market crackdown |
| 2007-11-24 |
| Zimbabwe prepared Friday to slash three more zeros from its currency for the second time in a year, as inflation soars in the crippled economy. Central Bank Governor Gideon Gono said after months of planning, the issue of new currency bills was "imminent," state television and radio reported. The television showed a sample of a new 500 Zimbabwe dollar note. The highest existing bill for 200,000 Zimbabwe dollars becomes 200. "I know the zeros we removed last time came back quickly but this time we are doing it in such a way they will not return," Gono told a televised meeting of banking and business leaders. He did not elaborate. |
| Posted by:Fred |
| #5 Mugabe plus a few dozen of his cronies. |
| Posted by: James 2007-11-24 15:57 |
| #4 Mugabe is the only "zero" they need to slash in order to get things turned around. |
| Posted by: Besoeker 2007-11-24 14:01 |
| #3 Divide by necessity, or 1/10, the need will be in 48.8 days. |
| Posted by: Redneck Jim 2007-11-24 12:56 |
| #2 Based upon recent reports in RB, the Zim Dollar has a 100% inflation rate every 49 days. Taking off 3 zeros will buy Zim Bob another 488 days, or 1yr 4mo before he has to lop another three zeros off. This is according to my calculations. |
| Posted by: Alaska Paul 2007-11-24 12:10 |
| #1 They'll come back in no time. |
| Posted by: twobyfour 2007-11-24 00:10 |