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Zimbabwe bank to issue $10m bill

#1
Zimbabwe bank to issue $10m bill

http://news.bbc.co.uk/1/hi/world/africa/7195569.stm

Zimbabwe's central bank is to introduce new higher-denomination banknotes in an effort to ease the critical shortage of cash in the country.
Zimbabwe has been in economic decline for the past eight years, with annual inflation widely thought to be in excess of 50,000%.
The highest value note that will go into circulation on Friday is worth 10m Zimbabwean dollars.
But that is worth less than US$3.90 (£2; 2.60 euros) on the black market.
The introduction of the new banknotes, or "bearer cheques" as they are officially called, is a further attempt to stabilise the Zimbabwean economy
50,000% inflation. so just how long is it untill they are issuing a billion bill? :roll:

sort it out South Africa, theres noway the west can help unless the SA gov finally admits that they are the only option to settle the basket case to the north.
 
#3
My coleague at work is a Zimbabwean. The poor sod works all the overtime he can get to send stuff home to his extended familly.

I think that it is time the "West" stopped sending "aid" to Africa. IMO we are only prolonging their problems. Africa (most of it) is rich* but bad/corrupt organisation prevents the people benefiting from their resources.

*By this I mean that Africa has shed-loads of natural resources.
 
#4
Perturbed said:
My coleague at work is a Zimbabwean. The poor sod works all the overtime he can get to send stuff home to his extended familly.

I think that it is time the "West" stopped sending "aid" to Africa. IMO we are only prolonging their problems. Africa (most of it) is rich* but bad/corrupt organisation prevents the people benefiting from their resources.

*By this I mean that Africa has shed-loads of natural resources.
I think the country should continue to send aid, but only on condition that the UK gets something more valuable in return.

Otherwise they can bog off.
 
#6
Scabster_Mooch said:
Perturbed said:
My coleague at work is a Zimbabwean. The poor sod works all the overtime he can get to send stuff home to his extended familly.

I think that it is time the "West" stopped sending "aid" to Africa. IMO we are only prolonging their problems. Africa (most of it) is rich* but bad/corrupt organisation prevents the people benefiting from their resources.

*By this I mean that Africa has shed-loads of natural resources.
I think the country should continue to send aid, but only on condition that the UK gets something more valuable in return.

Otherwise they can bog off.
I don't. Aid is just subsidising coruption IMO. Africans need to sort their own problems. AID is no long-term solution.
 
#8
Perturbed said:
Scabster_Mooch said:
Perturbed said:
My coleague at work is a Zimbabwean. The poor sod works all the overtime he can get to send stuff home to his extended familly.

I think that it is time the "West" stopped sending "aid" to Africa. IMO we are only prolonging their problems. Africa (most of it) is rich* but bad/corrupt organisation prevents the people benefiting from their resources.

*By this I mean that Africa has shed-loads of natural resources.
I think the country should continue to send aid, but only on condition that the UK gets something more valuable in return.

Otherwise they can bog off.
I don't. Aid is just subsidising coruption IMO. Africans need to sort their own problems. AID is no long-term solution.
The difference is I feel National interests should take primacy. Hence who cares if aid subsidizes corruption. All that matters is whether or not that aid promotes national interest in a tangible way (not in some wooly feel-good morally righteous kinda way).
 

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