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Zimbabwe prints $100 trillion notes

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Press TV
Friday, Jan 16, 2009

Zimbabwe’s central bank has introduced a 100 trillion dollar note in the face of a hyperinflation that has paralyzed the economy.

State media announced the plans for the new 100,000,000,000,000 Zim-dollar bill on Friday.

The bank is introducing three other notes in trillion-dollar denominations of 10, 20 and 50, Harare-based Herald newspaper said.

The new family of bank notes was introduced to “ensure that the public has access to their money from banks,” the Reserve Bank of Zimbabwe said in a statement quoted by the Herald.

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The move comes just a week after the printing of billion-dollar bills which have since been rendered too small.

  • A d v e r t i s e m e n t

The last official estimate in July put inflation at a staggering 231 million percent, possibly standing at a much higher figure currently.

The economic crisis in the country which is currently under US and EU sanctions has virtually dismantled Zimbabwe’s health services, while the impoverished country suffers from chronic shortages of basic needs.

This article was posted: Friday, January 16, 2009 at 4:34 am





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