Sunday, April 28, 2013

Hyperinflation in Zimbabwe

http://www.economist.com/news/finance-and-economics/21576665-grubby-greenbacks-dear-credit-full-shops-and-empty-factories-dollars-they

This article talks about how Zimbabwe, since long, is facing the problem of hyper inflation and its consequences on the economy and currency. Inflation in Zimbabwe is extremely high and reached an absurd 231,000,000% in 2008. The article also talks about how people have lost confidence in the domestic currency and the US Dollar is the common medium of transactions. Serious steps need to be taken for Zimbabwe to maintain its macro-economic structure.

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