Jan 31, 2009
Zimbabwe Wins!
A while back, I asked if Zimbabwe had"won" the unfortunate honor of having the world's largest banknote. One of our sharp readers, Timothy Abbot, pointed out that this distinction went to Yugoslavia with a 500 Billion note.
Well, according to this International Herald Tribune story , Zimbabwe has blown the top off the record with a 100 TRILLION Zim dollar note.
But, to show that even the Mugabe government has a learning curve, they have given up adding zeros, and opened Zimbabwean markets to trading in dollars and neighboring currency.
Now, I'm very much a"let's not dwell only on the bad news from Africa" kind of guy. But's let's face it, this is a total disgrace. The Mugabe regime now qualify as the most incompetent economic managers in modern history. Congrats, guys -- it's a hard won title, but well deserved.
Well, according to this International Herald Tribune story , Zimbabwe has blown the top off the record with a 100 TRILLION Zim dollar note.
But, to show that even the Mugabe government has a learning curve, they have given up adding zeros, and opened Zimbabwean markets to trading in dollars and neighboring currency.
Now, I'm very much a"let's not dwell only on the bad news from Africa" kind of guy. But's let's face it, this is a total disgrace. The Mugabe regime now qualify as the most incompetent economic managers in modern history. Congrats, guys -- it's a hard won title, but well deserved.