Zimbabwe Archive

  • A new currency printed by Zimbabwe’s central bank to ease a cash shortage has drawn scorn from critics attacking it as signaling a return to the hated local dollar, abandoned seven years ago as inflation spiraled to 500 billion percent.

    Zimbabwe Introduces New Currency, Angering Everyone

    A new currency printed by Zimbabwe’s central bank to ease a cash shortage has drawn scorn from critics attacking it as signaling a return to the hated local dollar, abandoned seven years ago as inflation spiraled to 500 billion percent.

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  • Alternatively heralded as an incompetent fool and a tragic hero, Gideon Gono has been at the center of Zimbabwe's economic decline since he was appointed governor of the country's Reserve Bank in 2003. Gono is known in some circles as "Mr. Inflation" because he has overseen the printing of billions of dollars in worthless notes, most recently Zimbabwe's trillion-dollar bill, to be launched later this year. But he is more than a central banker.

    Gideon Gono, father of the 100 Trillion dollar bill

    Alternatively heralded as an incompetent fool and a tragic hero, Gideon Gono has been at the center of Zimbabwe's economic decline since he was appointed governor of the country's Reserve Bank in 2003. Gono is known in some circles as "Mr. Inflation" because he has overseen the printing of billions of dollars in worthless notes, most recently Zimbabwe's trillion-dollar bill, to be launched later this year. But he is more than a central banker.

    Continue Reading...