Zimbabwe is experiencing ridiculous inflation, widespread famine, social instability and an uncompetitive economy.
In 1980, one Zimbabwean dollar (ZWD) equaled US $1.47. Now one ZWD equals US $0.06. Does that seem bad? It gets worse – this six-cent valuation of the ZWD is after the government redemoninated it by a factor of ten billion: 10,000,000,000 old ZWDs now equals one new ZWD. In other words, it’s worthless.
Year Inflation Rate of Zimbabwe:
1980 7%
1981 14%
1982 15%
1983 19%
1984 10%
1985 10%
1986 15%
1987 10%
1988 8%
1989 14%
1990 17%
1991 48%
1992 40%
1993 20%
1994 25%
1995 28%
1996 16%
1997 20%
1998 48%
1999 56.9%
2000 55.22%
2001 112.1%
2002 198.93%
2003 598.75%
2004 132.75%
2005 585.84%
2006 1,281.11%
2007 66,212.3%
2008 9,030,000%
India's inflation rate today is nearly 12%. If you see above figures then India's inflation may reach as high as Zimbabwe's inflation rate in just another 25 to 28 years!
Year India's inflation rate:
1995 10.2%
1996 9.2%
1997 7.2%
1998 13.2%
1999 4.7%
2000 4.0%
2001 3.9%
2002 4.9%
2003: 3.8%
2004 3.8%
2005 4.3%
2006 5.8%
2007 5.3%
2008 12%
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