Tuesday, September 22, 2009

Zimbabwae Inflation Rate Hits 11.2 million% ?

One year ago this YouTube video shocked the world. Research the story and give the most current news on the state of the Zimbabwe economy.

36 comments:

  1. Zimbabwe is the fist country in the 21st centurt to hyperinflate, meaning extreme inflation. The rate has gone up to 50% per month, making is 12,875% per year. Since about February the ZImbabwean economy had been suffering dollarization making the Zimbabwean dollar fall out of use.

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  2. Zimbabwae's economy is really bad. They are in a trouble with there financial situation. In their country at least 4 out of 5 people are out of work. Some people are leaving the country because the economy is so bad. The people of Zimbabwae are depending on their friends and family to eat some food

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  3. The government of Zimbabwe is devaluing the dollar so 100,000,000 dollars is 10, 10,000,000 dollars is 1 and so on. The inflation rate is at 11.2 million percent also known as the hour economy. The prices of goods and food change by the hour making it hard for most to buy everdyday necessities.

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  4. I think this all sounds surprising. Only 6% of the people in Zimbabwe have jobs. Their unemployment rate is growing. The crop has been lost. Production has been lost. Earnings are gone. There are shortages of electricity, food, fuel, and water. Right now, there is nothing in Zimbabwe that makes it sound better than any other African nations, economy-wise.

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  5. The inflation problem in Zimbabwae is a terible thing. The people can only take out 300 Zimbabwaein dollars a day which equals 1 US dollar. Simple items like friut or vegitables cost 1-3 millian Zimbabwaein dollars. The times are getting tougher by the hour as some people say it is an hour economy. Prices go up and won't stop going up until this problem is fixed.

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  6. The economy of Zimbabwe is collapsing from economic mismanagement, resulting in 94% unemployment and hyperinflation. The economy poorly transitioned in recent years, deteriorating from one of Africa's strongest economies to the world's worst.

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  7. The inflation rate in Zambabwe is 11,250,000 percent. But, expertes beleive that it will be much higher. It has increased the price of goods. Loafs of bread and tomatos cost millions! Individuals and companies are only allowed to withdraw three hundred zimbabwean dollars a day. Three hundred Zimbabwean dollars is only one U.S. dollar. Supermarkets have to code each idem in both currencies until the end of this month as Zimbabweans try to adjust.

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  8. The most current news that everyone is talking about is Zimbabwe's economy. This Country is in trouble with their financial situations. This is not good. People are trying to fix this mess right now, but it is going to take some time. There are making one dollar in the United States like 10,000 dollars there. You can really tell that they are hurting.

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  9. Zimbabwe's economy is horible right now. Approximately 85% of the people in Zimbabwe are currently unemployed. Zimbabwe is second in the world with the highest monthly inflation rates in history. Hungary is first. The Zimbabweans call this inflation "the hour economy" because the prices are changing by the hour.

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  10. the inflation rate in zimbabwe has incrreased a lot, the inflation rate right now is 11,250,000 percent. Zimbabwe's economy right now its really bad because the inflation rate has increased so much.

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  11. Zimbabwe's inflation rate topped 50% every month. It is considered as hyperinflation. It is the first country in the 21st century to do this. It hurts the economy and make living there difficult.

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  12. At the close of 2008, only six per cent of the population was officially employed, down from 30 percent in 2003. Zimbabwe has been warned by the United Nations warned that more than half the population needs emergency food aid. The country's financial ruin has added to the chronic hunger and a runaway cholera epidemic, which has killed more than 3000, face by ordinary Zimbabweans.

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  13. Zimbabwe's economy is bad the unemployment rate is 94%. Ethiopia is the next country with 41%. Their economy was once one of the best in Africa to now one of the worst in Africa. Zimbabwe has the lowest GDP in an independent country.

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  14. The economy in Zimbabwe is very bad right now and the inflation rate is skyrocketing. One dollar in the U.S. equals 10,000 dollars there. Lots of people are unemployed and Zimbabwe is second highest in the world with monthly inflation rates.

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  15. In Zimbabwe the economy is really low at this time. They are in inflation which means that they are expanding. The inflation rate has gone up a lot so that would be the reason that the economy is struggling. A large group of people aren't working right now because the economy is so bad.

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  16. Zimbabwe has a hyperinflation. Due to a lack of reliable data, in Zambabwe, the month with the highest inflation rate was in Mid-November 2008(latest measurable). The highest monthly inflation rate was 79,600,000,000%. Equivalent daily inflation rate was 98%. The time requiredfor prices to double was 24.7%.

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  17. The econmy in zimbabwe is so bad people relie on others to survive.85% of the people in zimbabwe is unemployed and that's how bad it is.They are just trying thei best so hard now as before to fix this mess and it is affectind daily lives in zimbabwe.

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  18. Zimbabwe economy is getting very bad like America. They are low on Money and supplies. Alot of people starve out their in Zimbabwe. They didn't spend their money wisely and they were not thinking before they bought the stuff they did! I think that this is a wake up call for them and that next time they will use their money wisely and the same with their supplies.

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  19. Mauricio5 said....
    The economy of Zimbabwe is collapsing fast. The government has to take drastic measures and try to stop this. Unemployment rates have been rising. If the government does not do anything about this the country will fall. Workers will lose most of their jobs and be unemployed. Children will starve and adults will die.

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  20. The inflation in Zimbabwe has dramatically increased because of this people are in desperate need of food, water, shelter and emergency aid. This incident in years. The inflation has reached an all high of 11.2 million percent. The problem started in 2000 when farmers tried to help the agriculture of Zimbabwe. The government of Zimbabwe introduced a bill of 200,000 in hope that it would restore the economy.Zimbabwes economy crisis will plague the country for many

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  21. The Zimbabwean economy has been the first nation in the 21st century to reach hyperinflation, and it is currently at the 2nd highest inflation rate ever. The currency is at such a low value, that they are making a 10,000,000 bill = 1 dollar, but that still isn't expected to have much of an effect because of the inflation rate. Everyday items such as food and water cost in the millions and trillions of ZImbabwean dollars, and the price is increasing by more than 30% every day. The ZImbabwe economy needs to be fixed soon, or it will become the biggest economical problem the world has ever had.

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  22. Zimbabwe,s inflation rate has increased drastically to the point were very few people have jobs. Only 6% of the population in zimbabwe have jobs. that means that more then 15 times the number of the people who do work don't work, only 1 out of every 16 people can find work! that leaves a lot of families with out money to get food shelter and other basic human needs. so they must chose to get these things through illegal or inhumane ways or die.

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  23. The news story was very shocking to me. I had no idea how bad the condition of the Zimbabwe economy was. Zimbabwe money has lost about all of its value and people are starting to refuse to accept it. The inflation rate is so bad that every two days the Zimbabwe money is cut in half of value worth against the United States. Zimbabwe is averaging an equivalent 98% daily inflation rate. It takes just over a day for prices to double in the country. Zimbabwe had the second highest monthly inflation rate in history in November of last year. Only Hungary is above them. About 4 out of 5 people are out of work and with prices rising every day, the wages people earn by working is no match. 3,000 people a day cross over the border to get out of Zimbabwe. These problems are devastating for Zimbabwe. This inflation is turning out to be a major crisis.

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  24. Zimbabwe's inflation has drastically increased within a couple months. The ZWD or Zimbabwean currency has been slashed 3 zeros. For example 1 trillion ZWD has now become equivalent to 100 U.S dollars. The inflation rate is currently 11.2 million percent, the highest in the world. In Hungary they call the inflation the "hour economy" because the prices of goods change by the hour. At first officials allowed people to use foreign currencies to make the change easier, but this now has an effect on getting the worthless Zimbabwean dollar from circulation. In addition The new Zimbabwean currency has had a shortage and people are only allowed to take out 300 ZWD a day which is $1.00.

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  25. Zimbabwe’s inflation rate reached a new high of 11.2 million percent in June, state media reported, quoting figures from the central statistics office.The new rate compares with an official figure of 2.2 million percent for May, a figure that had been deemed unrealistically low. Faced with critical cash shortages, Zimbabwe’s Reserve Bank at the end of July slashed 10 zeroes from the Zimbabwe dollar. One US dollar was fetching up to 800 billion Zimbabwean dollars at the time.
    The dire straits of the economy, widely blamed on President Robert Mugabe’s populist policies, have prompted the elderly leader to enter talks with donor-backed opposition leader Morgan Tsvangirai on sharing power.

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  26. Zimbabwe's economy is degrading at a very rapid pace, being the second worst inflation increase in history. If you think the current unemployment rate of approximately 85% is bad, the idea of devaluing their currency just makes the matter worst. On every ZWE, or Zimbabwean currency, the government has devalued every bill to a very small value. They are only allowed to take out 300 ZWE's, which equals one American dollar. And people are beginning to refuse the money. At this rate, Zimbabwe's economy will completely fall within the next few years.

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  27. Zimbabwe's economy is very bad.They even have some calling it a hour economy where it changes by the hour.People are only allowed to take out 300 ZWE which is equivalent to one American dollar.People are starting to leave the country because it has gotten so bad.Some are relying on neighbors or friends just for food to keep from starving.

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  28. I think the economy in Zimbabwe is really bad. They don't have all of the resources that we do in America, and the unenployment rate is 80% and still rising. The people in Zimbabwe are only expected to live 45- 46 years, because the economy doesn't allow them to have as good of health centers, and medicine education. If the economy keeps declining like it has been for the past couple of years, the people and animals along with all of the wildlife will suffer because they don't have the money, education, or technology.

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  29. Zimbabwe's economy is really bad. The environment in Zimbabwe is getting worse also, the wildlife is dying. People are expected to die in their mid 40s. Many people are leaving Zimbabwe because the economy and the environment is so bad.

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  30. Zimbabwae's economy is really bad. They are in a trouble with there financial situation. In their country at the most, 4 out 5 people doesn't have a job. Most of the people who lived there are leaving because the economy is bad. The people of Zimbabwae are depending on their friends and family to have food to eat.

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  31. It was said that Zimbabwe's government has already gone into hyperinflation.In February 2007, Zimbabwe’s inflation rate topped 50% per month, the minimum rate required to qualify as a hyperinflation (50% per month is equal to a 12,875% per year).

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  32. Zimbabwe's economy is really bad, and with a inflation going up 50% per month Zimbabwe must do something fast. As of right now 4 out of 5 people have no jobs. Zimbabwe is looking really bad and little hope of getting things back to normal in the near future.

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  33. Zimbabwe is in shambles 90% unenployment... People eat at most once a day, while in America we eat at least 3 times a day. Zimbabwe ranks at number one in poorness according to the CIA world factbook.

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  34. Zimbabwe is in real big trouble, a lot of people are out of their jobs. People are going hungry, in order to get food they have to use there friends. The inflation rate has really affected Zimbabwe economy in a bad way.

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  35. This is really bad. Zimbabwe has a 96% unemployment rate which leaves just 6% of people in the entire country that have jobs. THe unemployment rate is growing and its growing fast. Hopefully this new currency will help Zimbabwe get back on the horse and start fresh and hopefully they don't fall back into the problems they're having right now.

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