Zimbabwe sheds twelve zeros to “stave off economic collapse”

Yesterday’s trillionaires, I am sorry, will not be able to buy their favourite drink today.

-Gideon Gono, Reserve Bank of Zimbabwe

Hold on a sec… didn’t they remove ten zeros last year? Yes. They did. And they came back awfully fast. In recent months the government has also allowed business to charge in foreign currencies, pay their workers in the same, and licensed the national stock exchange to trade them as well.

It would appear he is trying to restore the Zimbabwean dollar, but, given the choice of multiple currencies, who would want to trade in Zimbabwe dollars?”

-John Robertson, an Harare-based economist

Good question John Boy, especially since there is clearly no advantage to amassing a fortune in Zimbabwe dollars. In the mean time, as the government dicks around, the Zimbabwe humanitarian crises continues to deepen.

Zimbabwe dollar sheds 12 zeros ยปBBC NEWS | Africa