![]() ZIMBABWE INFLATION CURRENCY COMPARE TO USD FULLAt that time, plastic bags full of 100 trillion Zimbabwe dollar banknotes were not enough to buy basic groceries. Many fear Zimbabwe could return to the hyperinflation of 2008 which reached 500 billion%, according to the International Monetary Fund. The Ukraine war is simply exacerbating an already difficult situation.” “Individuals and companies no longer trust the local currency and that has put pressure on the demand for U.S. “Because of high inflation, the local currency is collapsing,” economic analyst Prosper Chitambara told The Associated Press. ![]() ![]() dollars because their pay in local currency is “eroded overnight.” The three largest teachers' unions are demanding the government pay their salaries in U.S. Teachers “can no longer afford bread and other basics, this is too much,” tweeted the Progressive Teachers Union of Zimbabwe in early June. The war “coupled with our historical domestic imbalances, has created challenges in terms of economic instability seen through the currency volatility and spilling over into price volatility,” Finance Minister Mthuli Ncube told Parliament in May. In Zimbabwe, the impact of the Ukraine war is heaping problems on the already fragile economy. The war is blamed for rising fuel and food prices. ![]() Since the start of the war in Ukraine, Zimbabwe's inflation rate has shot up from 66% to more than 130%, according to official statistics. Zimbabweans are finding it increasingly difficult to make ends meet. ![]()
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