The document discusses hyperinflation in Zimbabwe between 2004-2008. It began with high inflation rates, such as 796,010% in November 2008. The rapid printing of money to fund government spending caused prices to double every 24.7 hours. Agricultural reforms disrupted food production, and by 2008 Zimbabwe had abandoned its currency due to hyperinflation that made the money worthless. To recover, Zimbabwe used foreign currencies and liberalized its economy.
The presentation summaries the hyperinflation in Zimbabwe, its causes, and possible remedies. The original presentation has a lot of animations which i don't think will work here.
The presentation summaries the hyperinflation in Zimbabwe, its causes, and possible remedies. The original presentation has a lot of animations which i don't think will work here.
Zimbabwe Hyperinflation: A Brief Overview of What Happenedbuyzimbabwedollars
This presentation provides a brief overview of what happened during the Zimbabwe hyperinflation episode of 2008. A mix of political corruption, reckless government spending, low economic output, ridiculous monetary policy, and egregious debt monetization led to the downfall of Zimbabwe's national currency. This presentation explains why.
Key Terms:
Zimbabwe
Zimbabwe dollars
Zimbabwe hyperinflation
Hyperinflation in Zimbabwe
Buy Zimbabwe dollars
Buy Zimbabwe currency
Hyperinflation and its effect on different world economiesDevanshDhruv1
What is Hyperinflation?
Causes of Hyperinflation.
Effects of Hyperinflation.
Examples of Economies that faced Hyperinflation.
Countries like Hungary, Zimbabwe, Venezuela.
Solutions of Hyperinflation.
Zimbabwe Hyperinflation: A Brief Overview of What Happenedbuyzimbabwedollars
This presentation provides a brief overview of what happened during the Zimbabwe hyperinflation episode of 2008. A mix of political corruption, reckless government spending, low economic output, ridiculous monetary policy, and egregious debt monetization led to the downfall of Zimbabwe's national currency. This presentation explains why.
Key Terms:
Zimbabwe
Zimbabwe dollars
Zimbabwe hyperinflation
Hyperinflation in Zimbabwe
Buy Zimbabwe dollars
Buy Zimbabwe currency
Hyperinflation and its effect on different world economiesDevanshDhruv1
What is Hyperinflation?
Causes of Hyperinflation.
Effects of Hyperinflation.
Examples of Economies that faced Hyperinflation.
Countries like Hungary, Zimbabwe, Venezuela.
Solutions of Hyperinflation.
1. Definition
2. Variations of Inflation
3. Calculation of Inflation
4. Keynisian view of Inflation/Causes of Inflation
5. Effects of Inflation
6. Methods to Control Inflation
7. Is inflation good or bad?
8. Inflation and GDP
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Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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हम आग्रह करते हैं कि जो भी सत्ता में आए, वह संविधान का पालन करे, उसकी रक्षा करे और उसे बनाए रखे।" प्रस्ताव में कुल तीन प्रमुख हस्तक्षेप और उनके तंत्र भी प्रस्तुत किए गए। पहला हस्तक्षेप स्वतंत्र मीडिया को प्रोत्साहित करके, वास्तविकता पर आधारित काउंटर नैरेटिव का निर्माण करके और सत्तारूढ़ सरकार द्वारा नियोजित मनोवैज्ञानिक हेरफेर की रणनीति का मुकाबला करके लोगों द्वारा निर्धारित कथा को बनाए रखना और उस पर कार्यकरना था।
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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2. What is Hyperinflation ?
What exactly happened in Zimbabwe
What's the way out
3. In economics, hyperinflation occurs when a country
experiences very high and usually accelerating rates
of inflation, causing the population to minimize
their holdings of money.
Meanwhile, the real value of economic items
generally stay the same with respect to one
another, and remain relatively stable in terms of
foreign currencies.
4. Unlike regular inflation, where the process of rising
prices is protracted and not generally noticeable except
by studying past market prices, hyperinflation sees a
rapid and continuing increase prices and in the supply of
money,and the cost of goods.
Hyperinflation is often associated with wars, their
aftermath, sociopolitical upheavals, or other crises that
make it difficult for the government to tax the
population, as a sudden and sharp decrease in tax
revenue coupled with a strong effort to maintain the
status quo can be a direct trigger of hyperinflation.
5. Confidence Model - In this model, some event, or series
of events, such as defeats in battle removes the belief
that the authority (a bank or a government) issuing the
money will remain solvent. Because people do not want
to hold notes which may become valueless, they want
to spend them.
Monetary Model - In this model, hyperinflation is
a positive feedback cycle of rapid monetary expansion.
When businesspeople perceive that the issuer is
committed to a policy of rapid currency expansion, they
mark up prices to cover the expected decay in the
currency's value.
6.
7. Highest inflation rate – November 2008 - 7.96
× 1010 %
Equivalent daily inflation rate - 98.01%
Time required for prices to double - 24.7
hours
8. 30 years ago – ZWD = 1.25 USD
Gradually, rampant inflation and collapse of the economy devalued
the currency.
Hyperinflation took shape in early 21st century
2004 - 624%
2006 - 1,730%
June 2007- 11,000%
July 2008 – 2,200,000%
The First Zimbabwe Dollar (ZWD) is obsolete. In June 2006, it was
replaced by the Second Zimbabwe Dollar (ZWN) at a rate of 1000 to 1. A
third and fourth dollar were later introduced and then the currency was
abandoned.
Zimbabwe no longer has its own currency and Zimbabwe dollars of all
types are worthless.
1 ZWD = 0.00276 USD (today !)
9. Land reform program – focused on taking
land from white farmers and redistributing
those properties and assets to black farmers.
Food production and revenues from export of
food plummeted
Monetary phenomena (the result of
Mugabe's government printing money)
10. No functioning Central Bank and no local
currency
Stores don’t have food on shelves
People are hungry
No water, no electricity
Prices rise daily
“Imagine, you cannot even carry the exact bus fare on
your way to work because the chances are high that
you will be told fares have gone up; you can't even
make budgets for household commodities, as used to
be the case seven or so years ago."
11. Use of foreign currencies
The black market
Redenomination
12. The most direct solution is a credible promise
to stop printing unlimited amounts of money.
The government could declare some foreign
currency to be the nation's official currency.
Formation of the inclusive Government and
the liberalization of the economy.
Editor's Notes
Ex:For India while buying vegetables, the vendor quotes the rate of 1$ a kg rather than in rupees as that is a more stable way of dealing or receiving the money.
Ex: The cost of bread today is Rs. 25 for a 400gms packet, which was Rs. 20 around 2 years back. If this becomes 35-40 in the next month it becomes a case of hyperinflation.