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Hyperinflation In Zimbabwe
Hyperinflation in Zimbabwe is an ongoing period of currency instability in Zimbabwe that, using Cagan's definition of hyperinflation, began in February 2007. During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. However, Zimbabwe's peak month of inflation is estimated at 79.6 billion percent month-on-month, 89.7 sextillion percent year-on-year in mid-November 2008. In April 2009, Zimbabwe stopped printing its currency, and currencies from other countries were used. In mid-2015, Zimbabwe announced plans to have completely switched to the United States dollar by the end of that year. In June 2019, the Zimbabwean government announced the reintroduction of the Real Time Gross Settlement dollar (RTGS), to be known simply as the "Zimbabwe dollar", and that all foreign currency was no longer legal tender. By mid-July 2019, inflation had increased to 175 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zimbabwe Hyperinflation 2008 Notes
Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and Mozambique to the east. The capital and largest city is Harare. The second largest city is Bulawayo. A country of roughly 15 million people, Zimbabwe has 16 official languages, with English, Shona, and Ndebele the most common. Beginning in the 9th century, during its late Iron Age, the Bantu people (who would become the ethnic Shona) built the city-state of Great Zimbabwe which became one of the major African trade centres by the 11th century, controlling the gold, ivory and copper trades with the Swahili coast, which were connected to Arab and Indian states. By the mid 15th century, the city-state had been abandoned. From there, the Kingdom of Zimbabwe was established, followed by the Rozvi and Mutapa empires. The British South Afric ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of Zimbabwe
The Reserve Bank of Zimbabwe is the central bank of Zimbabwe and is headquartered in the capital city Harare. History The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Bank of Rhodesia and Nyasaland (1956-1963) which had been liquidated at the collapse of the Federation of Rhodesia and Nyasaland in 1963. Prior to 1956, there was a Central African Currency Board from 1953, but which had been established as the Southern Rhodesia Currency Board in 1938 to provide Rhodesian currency, fully backed and bound to the British pound sterling at par face value. The local currency which Central African Currency Board was mandated to supply to Southern Rhodesia (colonial Zimbabwe), Northern Rhodesia (colonial Zambia) and Nyasaland (colonial Malawi) had been established through the Southern Rhodesia Coinage and Currency Act of 1932. The Reserve Bank of Rhodesia (which became the Reserve Bank of Zimbabwe at independence in 1980) has con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Matabeleland
Matabeleland is a region located in southwestern Zimbabwe that is divided into three provinces: Matabeleland North, Bulawayo, and Matabeleland South. These provinces are in the west and south-west of Zimbabwe, between the Limpopo and Zambezi rivers and are further separated from Midlands by the Shangani River in central Zimbabwe. The region is named after its inhabitants, the Ndebele people who were called "Amatabele"(people with long spears - Mzilikazi 's group of people who were escaping the Mfecani wars). Other ethnic groups who inhabit parts of Matabeleland include the Tonga, Bakalanga, Venda, Nambya, Khoisan, Xhosa, Sotho, Tswana, and Tsonga. The population of Matabeleland is just over 20% of the Zimbabwe's total. The capital and largest city is Bulawayo, other notable towns are Plumtree, Victoria Falls, Beitbridge, Lupane, Esigodini, Hwange and Gwanda. The land is fertile but semi arid. This area has coal and gold deposits. Industries include gold and other minera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gukurahundi
The ''Gukurahundi'' was a genocide in Zimbabwe which arose in 1982 until the Unity Accord in 1987. It derives from a Shona language term which loosely translates to "the early rain which washes away the chaff before the spring rains". During the Rhodesian Bush War two rival nationalist parties, Robert Mugabe's Zimbabwe African National Union (ZANU) and Joshua Nkomo's Zimbabwe African People's Union (ZAPU), had emerged to challenge Rhodesia's predominantly white government. ZANU initially defined ''Gukurahundi'' as an ideological strategy aimed at carrying the war into major settlements and individual homesteads. Following Mugabe's ascension to power, his government remained threatened by "dissidents" – disgruntled former guerrillas and supporters of ZAPU. ZANU recruited mainly from the majority Shona people, whereas ZAPU had its greatest support among the minority Mathebele tribes (which incorporates the Northern Ndebele and Kalanga peoples). In early 1983, the North Korean ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Korea
North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korea, Korean Peninsula and shares borders with China and Russia to the north, at the Yalu River, Yalu (Amnok) and Tumen River, Tumen rivers, and South Korea to the south at the Korean Demilitarized Zone. North Korea's border with South Korea is a disputed border as both countries claim the entirety of the Korean Peninsula. The country's western border is formed by the Yellow Sea, while its eastern border is defined by the Sea of Japan. North Korea, like South Korea, its southern counterpart, claims to be the legitimate government of the entire peninsula and List of islands of North Korea, adjacent islands. Pyongyang is the capital and largest city. In 1910, Korean Empire, Korea was Korea under Japanese rule, annexed by the Empire of Japan. In 1945, after the Surrender of Japan, Japanese surrender at the End of World War II in Asia, end ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Creation
Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region,Such as the Eurozone or ECCAS is increased. In most modern economies, money creation is controlled by the central banks. Money issued by central banks is termed base money. Central banks can increase the quantity of base money directly, by engaging in open market operations. However, the majority of the money supply is created by the commercial banking system in the form of bank deposits. Bank loans issued by commercial banks that practice fractional reserve banking expands the quantity of broad money to more than the original amount of base money issued by the central bank. Central banks monitor the amount of money in the economy by measuring monetary aggregates (termed broad money), consisting of cash and bank deposits. Money creation occurs when the quantity of monetary aggregates increase.For example, in the United States, money supply measured as M2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Congo War
The Second Congo War,, group=lower-alpha also known as the Great War of Africa or the Great African War and sometimes referred to as the African World War, began in the Democratic Republic of the Congo in August 1998, little more than a year after the First Congo War, and involved some of the same issues. The war officially ended in July 2003, when the Transitional Government of the Democratic Republic of the Congo took power. Although a peace agreement was signed in 2002, violence has continued in many regions of the country, especially in the east. Hostilities have continued since the ongoing Lord's Resistance Army insurgency, and the Kivu and Ituri conflicts. Nine African countries and around twenty-five armed groups became involved in the war. By 2008, the war and its aftermath had caused 5.4 million deaths, principally through disease and malnutrition, making the Second Congo War the deadliest conflict worldwide since World War II. Another 2 million were displaced from th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Republic Of The Congo
The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in Central Africa. It is bordered to the northwest by the Republic of the Congo, to the north by the Central African Republic, to the northeast by South Sudan, to the east by Uganda, Rwanda, and Burundi, and by Tanzania (across Lake Tanganyika), to the south and southeast by Zambia, to the southwest by Angola, and to the west by the South Atlantic Ocean and the Cabinda exclave of Angola. By area, it is the second-largest country in Africa and the 11th-largest in the world. With a population of around 108 million, the Democratic Republic of the Congo is the most populous officially Francophone country in the world. The national capital and largest city is Kinshasa, which is also the nation's economic center. Centered on the Cong ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarist
Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation. Monetarist theory asserts that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy.Phillip Cagan, 1987. "Monetarism", '' The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to reject Keynesian economics and criticise Keynes's theory of fighting economic downturns using fiscal policy ( government spending). Friedman and An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zimbabwe $100 Trillion 2009 Obverse
Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and Mozambique to the east. The capital and largest city is Harare. The second largest city is Bulawayo. A country of roughly 15 million people, Zimbabwe has 16 official languages, with English, Shona, and Ndebele the most common. Beginning in the 9th century, during its late Iron Age, the Bantu people (who would become the ethnic Shona) built the city-state of Great Zimbabwe which became one of the major African trade centres by the 11th century, controlling the gold, ivory and copper trades with the Swahili coast, which were connected to Arab and Indian states. By the mid 15th century, the city-state had been abandoned. From there, the Kingdom of Zimbabwe was established, followed by the Rozvi and Mutapa empires. The British South Africa Compa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Foreign Assets Control
The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the U.S. Treasury Department. It administers and enforces economic and trade sanctions in support of U.S. national security and foreign policy objectives. Under Presidential national emergency powers, OFAC carries out its activities against foreign states as well as a variety of other organizations and individuals, like terrorist groups, deemed to be a threat to U.S. national security. As a component of the U.S. Treasury Department, OFAC operates under the Office of Terrorism and Financial Intelligence and is primarily composed of intelligence targeters and lawyers. While many of OFAC's targets are broadly set by the White House, most individual cases are developed as a result of investigations by OFAC's Office of Global Targeting (OGT).Yukhananov, Anna, and Warren Strobel"After Success on Iran, U.S. Treasury's Sanctions Team Faces New Challenges" Reuters, April 14, 2014. Sometime ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
