Hyperinflation in Zimbabwe
About Hyperinflation in Zimbabwe
Zimbabwe experienced the second worst hyperinflation in history in 2008. Annual inflation reached 89.7 sextillion percent. Prices doubled every 24 hours. The central bank printed 100 trillion dollar notes. The currency was abandoned in 2009 in favor of the US dollar and South African rand. Hyperinflation was caused by land seizures that destroyed agricultural output, money printing to pay government expenses, and economic mismanagement under Robert Mugabe. The effects were devastating: pensions became worthless, savings evaporated, and basic goods disappeared. Zimbabwe adopted a new currency in 2019 but continued to struggle with inflation and economic instability.
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