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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: hyper-inflation

hyper-inflation stories: 9 news summaries

 Zimbabwe Central Bank 
 Stole Cash to Stay Solvent 

Governor admits pilfering private accounts to keep ministries running

Apr 20, 09 11:26 AM CDT
(AP) - Zimbabwe's central bank governor admits he took money from bank accounts of private businesses and foreign aid groups without permission to keep the country's cash-strapped ministries running. Gideon Gono said today he loaned money from the private hard-currency accounts to the government. He says the accounts will be reimbursed when... More »

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Africa • inflation • Zimbabwe • economics • economic reform • incompetence • central bank • economy • hyper-inflation • economic crisis • Gideon Gono

 Cholera Is Raging, 
 Whatever Mugabe Says 

Zimbabwe nears total collapse as health sector shuts down

Dec 12, 08 6:51 AM CST
(Newser) - Robert Mugabe says that the cholera epidemic in Zimbabwe has ended, but health experts say that 60,000 people could succumb to the disease, and half of the country's population is at risk. Zimbabwe's socioeconomic collapse has frighteningly accelerated, writes Celia Dugger in Harare, and daily life has become impossible.... More »

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Africa • Zimbabwe • Robert Mugabe • collapse • Cholera • hyper-inflation

Zimbabwe Makes US Dollar Legal Tender

Inflation rate of 11M% makes local currency largely worthless

Sep 26, 08 7:49 AM CDT
(Newser) - The government of Zimbabwe will allow consumers and shops to deal in American and South African currency as an 11 million percent inflation rate continues to pummel the nearly worthless Zimbabwean dollar. Cash remains in short supply in Zimbabwe, and on a flourishing black market a US dollar can fetch... More »

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inflation • Zimbabwe • US dollar • hyper-inflation

Paper Shortage Deepens Crisis in Zimbabwe

With inflation at 40M%, government can't print money to keep pace

Jul 24, 08 2:58 PM CDT
(Newser) - International sanctions and hyperinflation have left Zimbabwe nearly unable to print money, the Guardian reports. Stocks are nearly depleted since shipments ceased early this month from the German firm that supplied paper for banknotes; worse, the license will soon expire on the software used to design and print the bills.... More »

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Zimbabwe • currency • hyper-inflation

 Zimbabwe Launches $100B Bill 

Note likely to prove ineffectual against hyperinflation

Jul 20, 08 3:29 PM CDT
(Newser) - Zimbabwe will introduce a new $100 billion bank note tomorrow to offset rampant inflation—a seemingly exorbitant sum that may not even buy a loaf of bread. The official annual inflation rate in the country tops 2,200,200%, but independent estimates peg the actual rate at many times higher.... More »

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inflation • Zimbabwe • Robert Mugabe • Zimbabwe elections • hyper-inflation

9M% Inflation Crushes Zimbabwe

As cash becomes worthless, citizens
face starvation

Jul 18, 08 9:56 AM CDT
(Newser) - The political violence that ravaged Zimbabwe has subsided since Robert Mugabe's sham reelection, but another devastation continues unabated: economic meltdown. Zimbabwe's inflation rate has now hit 9 million percent, and a $50-billion Zimbabwean note is worth just 34 cents and falling in American currency. The Guardian investigates the surreal economic... More »

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Zimbabwe • Robert Mugabe • black market • starvation • economy • hyper-inflation

Paper Co.
Cuts Off Supply
of Zimbabwe's
Bank Notes

Secretive German firm caves to pressure

Jul 2, 08 12:46 PM CDT
(Newser) - The German company that supplies Zimbabwe with the paper for its hyper-inflated currency has caved to pressure from the German government and stopped doing business with embattled dictator Robert Mugabe. The secretive Bavarian firm, Giesecke & Devrient, had been airlifting tons of special blank bank notes—fortified with watermarks and... More »

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inflation • Zimbabwe • Robert Mugabe • currency • money • hyper-inflation

 Two Shot in Somalia Food Riots 

Thousands protest over inflation and soaring prices

May 5, 08 10:31 AM CDT
(Newser) - Soldiers shot and killed at least two people in Somalia as thousands rioted over inflation and soaring food prices. A recent rash of counterfeiting has led some merchants to only accept US dollars, instead of local shillings, the BBC reports. In response, angry Somalis threw rocks and burned tires, shouting,... More »

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Somalia • inflation • hunger • riots • food riots • hyper-inflation

Price Cuts Ruin Zimbabwe's Economy

Mugabe's radical 'solution' to spiraling inflation backfires

Aug 2, 07 10:53 AM CDT
(Newser) - A radical attempt to curb Zimbabwe's hyper-inflation by cutting prices up to 50% has backfired on President Robert Mugabe's government, which is now teetering on the brink of collapse, the New York Times reports. Store shelves are empty; bread, sugar, and cornmeal, the staples of Zimbabwean's diet, are depleted. More »

MORE ABOUT:
inflation • Zimbabwe • Robert Mugabe • hunger • gas • middle class • US economy • shortage • hyper-inflation

9 Stories


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