$50 Billion Just Ain’t What It Used To Be

The African nation of Zimbabwe introduced a $50 billion note into circulation on Monday the 13th of January. According to CNN a holder of just one of these notes will have enough money to buy two whole loafs of bread. Personally I applaud the Zimbabwean central bank for addressing an issue that has been ignored for far too long, not enough super billionaires.

The country’s struggling (maybe to nice of a word) economy has an inflation rate estimated at 231 million percent. That figure is not a typo; Zimbabwe’s inflation is at 231,000,000%. To make matters worse most businesses are only accepting foreign currency. The most commonly used are the American dollar and South African rand.

Now if only the $1trillion note would hurry up and come out people could afford a full dinner.

Sources: CNN, AP

UPDATE: The Reserve Bank of Zimbabwe has heard and granted Kswiss' wish!