Zimbabwe has $217 in the bank: finance minister

[Newsjock]

Source: Agence France-Presse

After paying public workers' salaries last week, the balance in cash-strapped Zimbabwe's government public account stood at just $217, Finance Minister Tendai Biti said Tuesday.

... Zimbabwe's economy went into free-fall at the turn of the millennium, after President Robert Mugabe began seizing white-owned farms.

... After more than a decade -- in which the country suffered hyper-inflation of 231 million percent and infrastructure that crumbled as quickly as prices went up -- the situation is now more stable.

... Biti said that left no choice but to ask the donors for cash. "We will be approaching the international community," he said.

Read more: http://www.google.com/hostednews/afp/article/ALeqM5g6UjhOacudCqlmmp8nbCwgBzi3gw?docId=CNG.f4e90e8af525f8288a2f59483d48735f.591

[Silentnomore]

1. Is that 217 trillion or quadrillion Zimbabwe dollars ?

[darkangel218]

4. I believe they're using US dollars now, since the hyperinflation.

[Posteritatis]

7. Yeah, they switched to USD to try to end that madness

I don't think numbers go high enough to translate $217US into hyperinflationary Zimbabwean currency.

[jpak]

2. Never respond to Nigerian emails

[darkangel218]

3. Wow.. thats so fuct up.

I guess we need to count our blessings. So many millions of people are living in far worse conditions and with very little hope for a better future

[Kurska]

5. The land they took from the white farmers was given out to cronies with zero farming experience.

Zimbabwe was once the breadbasket of Africa, now it's people are starving because of disgusting corruption.

I completely understand land redistribution, but

1. The farmers should have been compensated.
2. The land needed to be given to other farmers, not buddies of the prime minister.

[Marrah_G]

6. Agreed

Now the land is going to waste and the people are starving.

Sad

[krispos42]

8. I'm richer than Zimbabwe?

Ouch, indeed.