Wednesday, August 01, 2007

Guess how much does a kilo of sugar cost in Zimbabwe?

$ 200,000! And I am dead serious. The Reserve Bank of Zimbabwe is soon going to circulate a $200,000 note in a desparate bid to control the threatening hyperinflation rate - it is close to the 5000 per cent mark! The value of the note is worth $US 13 in the official exchange market and just $US 1 in the illegal market. Worse, a single banana cost as much as 15 times a four-bedroom house seven years ago! Read this illuminating Q&A on BBC. It beats me how Mugabe, if we are to believe the reports in the West, has screwed his country, turning it into an economic nightmare from the "bread basket" it once used to be.


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