Hyperinflation in Zimbabwe. 2000-2007 hyperinflation inflation rates as great as 25,000 % 2008 1 egg = ZW$50 billion (US32 ¢) Lottery would pay ZW$1.2.

Hyperinflation in Zimbabwe

2000-2007 hyperinflationinflation rates as great as 25,000 %• 2008 1 egg = ZW$50 billion (US32 ¢)

Lottery would pay ZW$1.2 quadrillion (1.2 x 1015)

4 redenominations / price controls

2000-2007

• Agricultural production falls 51%• Industrial Production 47%• GDP falls 40%• Money Supply increases by more than 500B %

(2008 estimate)• 94% unemployment• Election Fraud• Human Rights abuses• Redistribution of farmland

Now

• Legalized foreign currency transactions 2008/9– Zimbabwe has no currency; uses dollars,

rands, other currencies.

• Government of Unity (new power-sharing coalition)