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Thursday, January 29, 2009

Currency? We Don’ Need No Stinkin’ Currency.

Zimbabwe’s economy collapsed a long time ago and all that’s left is people sifting through the rubble. With every rational person understanding that the Zim dollar is worthless (and worth less by the day), the government has lifted the ban on using foreign currency.

Zimbabweans will be allowed to conduct business in other currencies, alongside the Zimbabwe dollar, in an effort to stem the country’s runaway inflation.

The announcement was made by acting Finance Minister Patrick Chinamasa.

BBC southern Africa correspondent Peter Biles says the Zimbabwean dollar has become a laughing stock. A Z$100 trillion note was recently introduced.

Until now only licensed businesses could accept foreign currencies, although it was common practice.

Mugabe soldiers on as elected dictator for life, playing games with the MDC, and I can’t help but wonder: even if the MDC “wins’ and Mugabe were to retire to his squirreled away bank accounts overseas, what would they have won? Is there anything left to rebuild? Or is the ruin so complete that the entire nation, its infrastructure, schools, hospitals, and social structures will all need to be completely rebuilt?

My gut, sick and sad and angry, says that’s exactly what will need to happen. Mugabe, whenever he is finally gone, will leave only wreckage behind him and the Herculean task of rebuilding a nation from nearly nothing. 

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