Source: American Institute for Economic Research
by Peter C Earle
“Zimbabwe’s historical relationship with money has been inundated with mistakes, recklessness, and hardship. During the peak of its 2008 hyperinflation, the nation experienced a catastrophic economic downturn, characterized by the issuance of billion- and trillion-dollar banknotes that were, despite their nominal enormity, virtually worthless. Recent economic challenges have revived painful memories of that era with the resurgence of inflation (currently at 55 percent), a return to the US dollar, euro, and South African Rand as de facto currencies, and the necessity of using large physical stacks of bills to purchase basic commodities like bread and eggs. On April 5, a new currency was announced.” (04/25/24)
https://www.aier.org/article/the-new-zimbabwean-zig-sixth-time-a-charm/