Zimbabwe releases $500,000,000 note (1 Viewer)

[chicky_pie]

ZIMBABWE has introduced a new half-a-billion dollar bank note in a bid to tackle cash shortages fed by rampant inflation, the central bank said today.

The $500,000,000 note is worth $A2.61c.

"Introducing the new 500,000,000 bearer cheque for your convenience," read a Reserve Bank of Zimbabwe full-page advert in the state daily, The Herald, displaying specimens of the new note.

The note, comes into circulation 10 days after the introduction of a quarter-of-a-billion one early this month.

This is the fourth set of high denomination notes to be issued this year, the first being in January when a 10 million dollar note was put into circulation. The next was on April 2 when a 50 million dollar note came into being before the 100 and 250 million dollar notes were introduced on May 2.

The southern African nation, currently gripped by a post-election crisis, has been ravaged by hyperinflation which reached 165,000 per cent in February.

No latest inflation figures have been released since then.

The country's chronic economic crisis has condemned millions to grinding poverty with at least 80 per cent of the population living below the poverty threshold amid mass shortages of basic goods in shops.

Run-off poll delay

Meanwhile, Zimbabwe's Opposition has reacted furiously to the prospect of a run-off poll being delayed until the end of July, accusing authorities of flouting the law to help Robert Mugabe cling to power.

As the Government confirmed the second round of a presidential election would not take place next week as scheduled, the Movement for Democratic Change (MDC) feared the delay would be used to intensify a campaign of violence and intimidation after Mr Mugabe's first round defeat.

The United States said the international community must insist conditions are put in place to ensure any run-off is free and fair.

Under the terms of the electoral law, the run-off between MDC leader Morgan Tsvangirai and Mr Mugabe should take place within three weeks of the announcement of results from the first round which came on May 2.

However, according to an extraordinary government gazette due to be published today but read out to AFP by a source close to the printers, the period has been extended from 21 days to 90 days.

The move means the run-off can now take place as late as July 31 rather than by the scheduled May 23 deadline.

Power ploy

The MDC's deputy secretary for legal affairs Jessie Majome said the extension was a ploy to perpetuate Mugabe's 28-year stay in power.

"This is rigging taking place and it's blatantly unlawful,'' Mr Majome said.

"All these are tricks being used by ZANU-PF (Mugabe's party) to hold on to power and continue what they are doing in their offices, and whatever they are doing they are up to no good.

"ZANU-PF will use the 90 days to maim and kill, and this extension is an extension of the suffering of the people of Zimbabwe.''

The MDC says at least 32 of its supporters have been killed by Mugabe followers since the first round took place on March 29.

While the elections themselves passed off peacefully, there has since been a steady rise in the levels of violence which the United Nations warned this week could reach crisis proportions.

http://www.news.com.au/story/0,23599,23704106-2,00.html

Can we invest?

 

[JaredR]

This didn't happen in Rhodesia.

 

[iamsickofyear12]

Where can I get one of these from?

 

[MaNiElla]

Where can I get one of these from?

ebay

 

[blue_chameleon]

This didn't happen in Rhodesia.

Whenever I hear/see 'Rhodesia' it reminds me of Danny Archer's accent in Blood Diamond.

Rhowdeeesha.

 

[Nebuchanezzar]

Dear BoS hobbyist-amateur-economists,

How might a country go about decreasing this type of inflation, and getting it back to normal levels?

Sincerely, Jim.

 

[your.knee]

Poor Zimbabwe.

(no pun intended)

 

[SomeoneCool]

Dear BoS hobbyist-amateur-economists,

How might a country go about decreasing this type of inflation, and getting it back to normal levels?

Sincerely, Jim.

Zimbabwe is at the point of no return. The economy is going to crash in a short period of time, and hopefully the Zimbabwean government do a better job second time round.

 

[SomeoneCool]

Am I reading this right? The $500,000,000 note is worth $A2.61c.

Is $Z500,000,000 worth only 2.61 Australian cents?

:rofl:

 

[SomeoneCool]

Jim is asking how they will be getting to the "second time around" you stupid moron.

\
How the fuck am I supposed to know when Zimbabwe's second chance is going to come around?

Does it make you feel like a man jumping down people's throats?

 

[blue_chameleon]

Does it make you feel like a man shoving your cock down my throat?

Fixed.

 

[what971]

Dear BoS hobbyist-amateur-economists,

How might a country go about decreasing this type of inflation, and getting it back to normal levels?

Sincerely, Jim.

Gold Standard.

 

[banco55]

Dear BoS hobbyist-amateur-economists,

How might a country go about decreasing this type of inflation, and getting it back to normal levels?

Sincerely, Jim.

Assuming they had a government that wasn't completely incompetent, uninterested in the people's welfare and totally corrupt (given Africa's record unlikely to happen) something like the shock therapy they had in bolivia.

 

[mr_brightside]

Am I reading this right? The $500,000,000 note is worth $A2.61c.

Is $Z500,000,000 worth only 2.61 Australian cents?

:rofl:

...Are you retarded?

 

[jumb]

I want to buy 2 of them so i can be all "im a billionaire!"

 

[2162]

Haha leave him alone, yes it is.

 

[Enteebee]

I want to buy 2 of them so i can be all "im a billionaire!"

....
um

....

 

[melanieeestroll]

lol inflation.

 

[Enteebee]

lol inflation.

in my pants, for u.

 

[kickthat]

Dear BoS hobbyist-amateur-economists,

How might a country go about decreasing this type of inflation, and getting it back to normal levels?

Sincerely, Jim.

Assasinate Robert Mugabe and place a sane person in charge of the country.
Theres a start.