Imagine a country where a ticket 100 trillion, the biggest cut, not enough even to buy a single bus ticket. Welcome to Zimbabwe, southeast of Africa nation, whose 14 million people are multi-billionaires. This grotesque situation that lasted for several years will soon end. Starting today, Zimbabweans have three months to exchange their savings against US dollars, announced the central bank of Zimbabwe.
In a surprising statement, the monetary institution soberly announced that all inhabitants have between 0 and 175 "quadrillion" (trillions) Zimbabwean dollars (175.000.000.000.000.000) on their bank accounts will receive the sum of US $ 5 and sums above this amount will be converted at a rate of 1 US dollar to 35 "quadrillions" of Zimbabwean dollars. For species, the conversion will be even more delirious at the counter: US $ 1 250 million billion Zimbabwe dollars. So how are we happened to use daily sums with 15 zeros?
Over 1000% inflation per year, with a dementia peak in 2008
For 15 years, Zimbabwe has experienced unprecedented hyper inflation, consistently greater than 1000% per year, related to a severe economic crisis that began with the confiscation of land from white farmers in the early 2000. This expropriation discouraged foreign investments and exports is falling heavily. In 2008, while in financial crisis, President Mugabe decides to run at full speed printing money and invented the famous break of one hundred thousand billion. That year, inflation hit a record 500 billion percent, according to the IMF. It was then necessary transport tickets mountains using a wheelbarrow to buy bread and it even happened that prices rise twice daily. The ultimate paradox was that he had to wait for hours to get these papers worthless, so many children were born in queues. Babies once called "Billion" "Governor" or "Barclays" recalls one resident.
It is in this context that Zimbabweans themselves have stopped using their own currency since 2009, preferring the South African rand and the US dollar for their daily expenses. Although rare, the decision of Zimbabwe's central bank was widely expected and should primarily concern the holders of old savings accounts. The monetary institution has also set aside 20 million US dollars to pay its citizens. Sensing the vein, some have already started to sell their unique world tickets to tourists and collectors on the Internet.
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