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Not directly cricket related: Zimbabwe - no money left

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Not directly cricket related: Zimbabwe - no money left Empty Not directly cricket related: Zimbabwe - no money left

Post by Zat Tue 15 Jul 2008, 23:31

Stop the press: Mugabe out of Monopoly money

From the linked article:
HARARE: It has come to this - Zimbabwe is about to run out of the paper to print money on.

Fidelity Printers & Refiners, the state-owned company that tirelessly churns out bank notes for the Mugabe regime, was thrown into a crisis early this month after a German company stopped supplying bank note paper because of concerns over Zimbabwe's recent violent presidential election, widely seen as fraudulent by international observers.

The printing operation slowed drastically. Two-thirds of the 1000-strong workforce was ordered to take leave, and two of the three money-printing shifts were cancelled.

<snip>

Before the crunch, a beer at a pub in Harare cost $15 billion. At 5pm on July 4, it cost $100 billion ($US4 at the time) in the same bar. An hour later, the price had gone up to $150 billion ($US6).
Just tragic.

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Post by JKLever Tue 15 Jul 2008, 23:35

China will bankroll them...
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Post by PeterCS Tue 15 Jul 2008, 23:43

Horrendous. Not so much the absence of cash ... but what it signifies.

Not just tragic - criminal, on a vast scale.
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Post by furriner Wed 16 Jul 2008, 00:06

OTOH, I wonder how it feels to pay $150 billion for a beer.
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Post by Henry Wed 16 Jul 2008, 00:11

$150 billion- Roughly the average Zimbabwean's weekly wage?

That's in the unlikely scenario that they have a job.
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Post by JKLever Wed 16 Jul 2008, 00:16

Or that they can walk...
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Post by Batman Wed 16 Jul 2008, 06:45

furriner wrote:OTOH, I wonder how it feels to pay $150 billion for a beer.

Reminds me of Sehwag's revelation of how a lunch in Zimbabwe cost $ 1 million on their last tour 3 years back.

Same lunch is now probably $ 1 billion too. So how much is the 6 pounds salary that Zim players were paid by ZCU in reality in Zimbabwe currency? $ 6 million in Zimbabwe currency?

Zimbabwe is a strange paradox. The only country where labour force can claim to earn 6 million as wages only to blow them for 6 square meals in 3 days.
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Post by taipan Wed 16 Jul 2008, 07:19

No comment from the BCCI on this?
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Post by Henry Wed 16 Jul 2008, 08:35

South Africa 'A' toured there 2 years ago and the resaurants they went to didn't even have any meat.
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Post by Zat Wed 16 Jul 2008, 23:36

Early this morning I heard a financial journalist talking about Zimbabwe.

Inflation now at 2 million percent.

Unemployment at 90 percent.

A whole new method of exchanging goods and services has apparently arisen, but he didn't say what it was or how it worked other than to allude to similarities between Zimbabwe now and Argentina in the 70s (may have been 80s).

He did say there are apparently abundant mineral resources in Zimbabwe, and that while much of it has fallen into disuse, it's not in disrepair and the country would bounce back fairly quickly if 'changes come in the near future'.

Hope springs eternal.

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