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Tue Jan 29, 2013, 04:54 PM

Zimbabwe has $217 in the bank: finance minister

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

8 replies, 1049 views

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Arrow 8 replies Author Time Post
Reply Zimbabwe has $217 in the bank: finance minister (Original post)
Newsjock Jan 2013 OP
Silentnomore Jan 2013 #1
darkangel218 Jan 2013 #4
Posteritatis Jan 2013 #7
jpak Jan 2013 #2
darkangel218 Jan 2013 #3
Kurska Jan 2013 #5
Marrah_G Jan 2013 #6
krispos42 Jan 2013 #8

Response to Newsjock (Original post)

Tue Jan 29, 2013, 04:57 PM

1. Is that 217 trillion or quadrillion Zimbabwe dollars ?

 

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Response to Silentnomore (Reply #1)

Tue Jan 29, 2013, 05:07 PM

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

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Response to darkangel218 (Reply #4)

Tue Jan 29, 2013, 06:01 PM

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.

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Response to Newsjock (Original post)

Tue Jan 29, 2013, 05:01 PM

2. Never respond to Nigerian emails

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Response to Newsjock (Original post)

Tue Jan 29, 2013, 05:03 PM

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

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Response to Newsjock (Original post)

Tue Jan 29, 2013, 05:15 PM

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.

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Response to Kurska (Reply #5)

Tue Jan 29, 2013, 05:52 PM

6. Agreed

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

Sad

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Response to Newsjock (Original post)

Tue Jan 29, 2013, 06:11 PM

8. I'm richer than Zimbabwe?

Ouch, indeed.

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