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Zimbabwe dollar hits new low
Somebody send me another wheelbarrow of zeros!
The Zimbabwe dollar tumbled to an all-time low yesterday as it became apparent that President Robert Mugabe had failed to get the billion dollars he sought from China to relieve the country's shortages of fuel, food and power. One US dollar purchased 45,000 Zimbabwe dollars yesterday on the illegal black market. The official exchange rate is US$1 to Z$17,000, but neither banks nor corporations use it.

Mr Mugabe returned from Beijing over the weekend with pledges from the Chinese government of $6m (£3.4m) for food, a passenger aircraft and 100 computers, according to the state media. He will now have to go back to South Africa for financial assistance. South African officials have made it clear they will demand substantial political and economic reforms in return.
So much for the China junket. At least Bob got fed.

Posted by: Steve White 2005-08-02
http://www.rantburg.com/poparticle.php?ID=125688