When Buying Sugar in Zimbabwe
Aug 1st, 2007 @ 12:45 am › Christopher Westley
…it’s easier to use the new $200,000 note issued by the RBZ. It is worth US$13 at the official exchange rate or $1 on the black market.Addendum: Lest anyone reading this blog harbor any doubts that the Zimbabwean central bank is anything less than an exemplary organization, let me assure you that you are wrong. I write this with confidence after reading the 16 values that the RBZ lists on its web site. They are:
1. Fairness and equality in employment opportunities;
2. Openness without offence;
3. Honesty, integrity and uprightness;
4. Transparency in whatever we do in the name of the Bank;
5. Commitment to teamwork and cooperation;
6. Learning organization;
7. Respect for one another without discrimination;
8. Helpfulness and approachable;
9. Clients and customer focused;
10. Involvement and commitment;
11. Decisiveness, action and results oriented;
12. Accountability;
13. Professionalism;
14. Success-driven;
15. Time conscious;
16. Respect for the environment.
The Bank also notes that it “will express itself through leadership in the formulation, implementation and monitoring of policies and action plans for fighting inflation, stabilisation of the internal and external value of Zimbabwe’s currency and of the financial system in a manner that gives pride of achievement to Zimbabweans across the board.”
Categories: Uncategorized
Home
RSS Feed
E-Mail
Del.icio.us
Digg
Technorati
Magnolia
Newsvine
Reddit
6 Responses
My favorite lines from the linked article:
“Zimbabwe is to start circulating a new 200,000 Zimbabwe dollar note, in a bid to tackle the country’s inflation….
Yeah, printing bigger notes should do the trick.
“But correspondents say that as long as Zimbabwe has a shortage of staple foods, including maize, food shortages are likely to continue.
So as long as there are shortages, there will be shortages. Excellent reportage.
That article sounds like a parody, but I know that it is not. jl pointed out the two most absurd statements. Really, this is what journalism is reduced to? Only a complete cretin could have written those two sentences.
Who can make use of the official exchange rate? Yeeh, I wish I could exchange US dollars on the black market for Zimbabwean, and then exchange these back for US dollars at the offical rate. Profits galore.
I think their inflation problem is that 200,000 just isn’t big enough. I say go for 200,000,000 or 200,000,000,000. That will be worth at least $13, 000 or 13,000,000 officially and $1000 or 1,000,000 on the black market.
Did you know that Zimbabwe has the fastest growing stock market in the world by a long shot. I think our Federal Reserve Chairman should have to invest his dollars there to get the gains.
It is also a good thing to keep Zimbabwe’s stock market in mind when you hear the CNN/FOX/NBC talking heads pine on and on about how well the US stock market is doing.
lol @Quenton