Have you ever seen currency with an expiration date? Well, that’s precisely what Zimbabwean dollars look like right now. For instance, a 10,000,000 dollar bill (yes, 1 with seven zeros) issued on January 1, 2008 is valid only until June 30! And it is currently worth… less than 30 U.S. cents and losing value with every passing day.
Here Freedom House Deputy Executive Director Thomas Melia, who has recently participated in a pre-election assessment in Zimbabwe, is showing such a bill at a U.S. Institute of Peace briefing to illustrate massive hyperinflation plaguing the country.
Source: Freedom House
Zimbabwe’s economy has been in a tailspin over the last few months, bringing the population to the point of despair. With the results of the March 29 presidential elections still not made public by the government and an intensifying crackdown against the opposition underway, the situation is getting more and more explosive. How long can this political stalemate – and the economic agony – last?
Published Date: April 11, 2008