Zimbabwe Has Just $217 Left In The Bank, Finance Minister Revealed

By on Jan 30, 2013 in Africa, Economy, Finance, World Comments

Zimbabwe has just $217 in the bank, the country’s finance minister revealed in a press conference on Tuesday, January 29, 2013. Yes, that’s not a typo. We did not miss any trailing zeros.


Zimbabwe map
Zimbabwe
Credit: Google Maps

According to reports, Zimbabwe‘s Finance Minister Tendai Biti said that after paying civil servants, his country has only $217 left in the bank.

“Last week, when we paid civil servants there was $217 (left) in government coffers… The government finances are in a paralysis state at the present moment. We are failing to meet our targets,” Biti was quoted as saying.

Reports said that Zimbabwe needs $104 million to organize an election next year. Obviously, they don’t have that much money, which leave them no choice but to ask for donors. “We will be approaching the international community,” Biti reportedly said.

Zimbabwe suffered from hyperinflation of 231,000,000% more than a decade ago. Although the situation is more stable now, public finances are still a mess, reports said.

Imagine, if you have more than $217 in your bank account, you are literally richer than Zimbabwe.



Spread The News!



Tags: , ,

Advertisement

Related News



What's On Your Mind?




Pinterest
Email