Saturday, June 16, 2007

3,714% inflation!

Read from the BBC news, "Zimbabwe will collapse within six months, possibly leading to a state of emergency-says a leaked briefing report for aid workers in the country".

Quote :
"Rampant inflation will mean shops and services can no longer function and people would resort to barter, it said."

"The memorandum is talking about a situation where there is no functioning government or a total breakdown," an unnamed aid worker told the UK Times.
Zimbabwe's inflation is already 3,714% - the highest rate in the world. "

"It said power and water suppliers were already near collapse. Electricity was last month rationed to just four hours a day to save power for farmers.


Just one adult in five is believed to have a regular job.

Some 4m Zimbabweans - a third of the population - will need food aid this year, according to the UN World Food Programme. "

Unquote.

See full news http://news.bbc.co.uk/2/hi/africa/6751671.stm

This is horrible.... Inflation of 3,714%????!! The last I read was about 300% and I thought were they joking??? 3,714%??!!! What does it mean if a country's economy collapses? As it said in the news, "people would resort to barter"... so that's it?? I cannot imagine... do they have international trades? so they'll be living with no electricity, no use of money since it values so little, so they're back to the stone age........ my gosh... How are foreigners in Zimbabwe going to buy things..?? This is really beyond my knowledge.... How are they going to revive their economy??? geez.. so sad about this news...

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