Continuing from last month, there are a couple more case’s to look at for hyperinflation notes.
Case notes II
Back in 2008 Zimbabwe looked set fair to edge Hungary out of its long-held #1 position of having achieved the world’s highest-ever inflation rate. However, in November 2008, the good citizens of Zimbabwe refused to accept their dollar anymore and the nation’s hyperinflation ground to an abrupt halt. At this point the maximum monthly inflation rate stood at 7.96 × 1010 percent (or 79,600,000,000percent). This was well ahead of that achieved by Yugoslavia and Germany and allowed Zimbabwe to take over the #2 spot in the world’s hyperinflation league table.
The nation’s economic troubles started back in the early 1990s. During this period the government of President Robert Mugabe instituted a series of economic reforms that proved disastrous. At the same time the banking sector collapsed when economic sanctions were imposed by the U.S., EU and IMF. The situation was not helped when officials and social elites began looting of the nation’s resources.
The economy deteriorated further in 1998 when the nation opted to become involved in the Second Congo War. This highly expensive operation was financed by printing vast sums of paper currency. In
