The solution to inflation, it turns out, is rather simple:
"The Zimbabwe dollar will be redenominated by a factor of one to 10, which means we are removing 10 zeros from our monetary value. Ten billion dollars today will be reduced to one dollar with effective from August 1," said Gideon Gono, the central bank governor.Why doesn't Alistair Darling knock off a zero and we can get back to the five bob pint.
The largest new note will be worth 500 new Zimbabwe dollars, or five trillion current dollars. Coins, which have been obsolete for years, will also return, and existing notes will be valid until the end of the year.
Comments from previous template:
Of course! It's all so obvious! That's why Bob's President of an actual country, and Milty just wrote books and stuff.
Presumably they've got the 50,000 New Zim Dollar notes all ready and printed for issuing in six months' time?
31 July 2008, 16:58:38 GMT+01:00
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Better still, let's return to pre-decimal coinage, at a rate of 1 decimal penny to 1 new farthing.
31 July 2008, 12:58:52 GMT+01:00
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