Comments on: Madness in Zimbabwe http://mberg.buildafrica.org/2005/05/30/madness-in-zimbabwe/ Probably only interesting to me Mon, 6 Oct 2008 23:14:02 +0000 http://wordpress.org/?v=2.0.2 by: Blair Stannard http://mberg.buildafrica.org/2005/05/30/madness-in-zimbabwe/#comment-28 Tue, 21 Jun 2005 16:04:57 +0000 http://mberg.buildafrica.org/2005/05/30/madness-in-zimbabwe/#comment-28 In May 2005, the Zimbabwe government was forced, by outside pressures, to once again devalue the Zim Dollar by 90%. But things are even worse than that. The OFFICIAL exchange rate is now about 9,000 Zimbabwe Dollars per 1 US Dollar. However, the free market rate is about DOUBLE that - with 1 US Dollar buying you about about 18,000 Zim Dollars. [When the Rhodesian (later Zim) Dollar was first created in the 1970's, it was worth about $1.50] Soon, the Zimbabwe government will make the previous (ie Mobutu) government of Zaire look like financial wizards. Sadly, every time someone says "It cannot get any worse for Zimbabwe." it does. In May 2005, the Zimbabwe government was forced, by outside pressures, to once again devalue the Zim Dollar by 90%. But things are even worse than that.

The OFFICIAL exchange rate is now about 9,000 Zimbabwe Dollars per 1 US Dollar. However, the free market rate is about DOUBLE that - with 1 US Dollar buying you about about 18,000 Zim Dollars. [When the Rhodesian (later Zim) Dollar was first created in the 1970’s, it was worth about $1.50]

Soon, the Zimbabwe government will make the previous (ie Mobutu) government of Zaire look like financial wizards. Sadly, every time someone says “It cannot get any worse for Zimbabwe.” it does.

]]> by: mike berg http://mberg.buildafrica.org/2005/05/30/madness-in-zimbabwe/#comment-9 Tue, 31 May 2005 14:54:10 +0000 http://mberg.buildafrica.org/2005/05/30/madness-in-zimbabwe/#comment-9 Hey, Were you ever able to get in touch with Vernon, I was wondering if he had contacted us in part because of the current situation in Zimbabwe? Mike Hey,

Were you ever able to get in touch with Vernon, I was wondering if he had contacted us in part because of the current situation in Zimbabwe?

Mike

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