Last May I noted that Zimbabwe had run its inflation rate up to over 3700% and at the same time earned a position at the head of UN Commission on Sustainable Development. Now, less than 5 months later, things have become a bit worse.
The new [wage] freeze, announced in Friday’s editions of government-controlled newspapers, is intended to combat an annual inflation rate that the government says exceeds 7,600 percent, and private economists say is twice that.
At least we know that their printing industry must be in good shape…churning out that much money must take work.