Undoubtedly inflation has a negative impact on a lot of countries; some states are able to maintain a stable low rate of inflation, while others (like Zimbabwe) register a real downfall.
Zimbabwe
Today the inflation in Zimbabwe outruns 100,000 percent. The country's government had to introduce the new 10,000,000 Zimbabwe dollar banknote, which is number one among the world's worthless money list. Currently the banknote has a value lower than $4.
The article in nytimes.com reports that a roll of toilet paper in Zimbabwe costs $145,750, which is about 69 American cents. Currently the smallest banknote in circulation is the $500 bill.
People consider such things as tea, meat and bread as something highly exclusive. The country registers an annual inflation that might be compared to the inflation in the war regions. The rate of unemployment in Zimbabwe goes over 80%, which is definitely the highest in the world.
Vietnam
The currency of Vietnam is "dong." The value of the biggest banknote in the country (500,000) is $31.37. Starting with the early 1980 the embargo of the United States stopped the exports from Vietnam, which lead to price controls and an abundance of dongs printed in the country.
Indonesia
The country's 100,000-rupiah note is currently worth $11.05. Due to the financial crisis, that struck Asian back in 1997, the Indonesian rupiah depreciated by 80% in just a few months. After the revolts rose in Jakarta, President Suharto had to clear his post after ruling the country for 32 years.

Iran
Sao Tome and Principe
This is a small island nation located in Africa, and namely in the Gulf of Guinea. The country is composed of two islands called: Sao Tome and Principe. The country's currency is entitled "dobra" and it most valued banknote is the 50,000 dobra note, which is worth about $3.47. The country exports mainly cocoa and thus Sao Tome and Principe is bound to highly unstable price of this good.
Guinea
This is another African nation that features in the list, having its 10,000 franc banknote valued at approximately $2.33. The country is rich in minerals; it possesses more than 25 billion tons of bauxite. Besides it has over 4 million tons of high-quality iron ore, huge diamond and gold deposits. In addition, Guinea possesses an uncalculated amount of uranium. The investment possibilities are huge, but there are also huge barriers created by the country's weakly developed infrastructure and high level of corruption. Guinea's government declined the proposal made by the International Monetary Fund to apply reforms. When foreign currency dried up the Banque Centrale de la Republique de Guinee issued too much money.
Comments
Post new comment