Guim.co.uk A Vendor in Zimbabwe shows the 50 million note. image:40137:0::0

The inflation problems in Zimbabwe are getting worse by the day, thanks to complete mismanagement of the country by President Robert Mugabe. In January, the Reserve Bank of Zimbabwe issued a $10 million note to combat inflation and issued again a $250 million 10 days ago.

A loaf a bread costs $16 million Zimbabwe dollars this April, and it's estimated to cost even higher now. (1 US Dollar = 246,433,371.43 ZWD)

Despite all these measures, inflation is still growing at a disturbing rate and has led to severe cash shortages in Zimbabwe. To combat this, the Reserve Bank of Zimbabwe issued a half billion dollar note. It put an advertisement in the state daily, The Herald, and announced this new currency and displayed samples of this note: "Introducing the new 500,000,000 bearer check for your convenience."

The noet is equivalent to $2.03 US.

Recently, an election was held in Zimbabwe and Mugabe’s opposition seemed to have won the elections but Mugabe is still dragging the case and hasn’t relinquished his power.

The inflation rose 165,000 per cent in February. The bank has not issued any current inflation rates, but I checked the current bank interest rates here -- it charges for overnight loans a 4500 per cent Interest rate.

With no signs of relief, nearly 80 per cent of the Zimbabwe population are living below the poverty threshold and have to endure severe shortages even for basic goods.

Can you imagine billionaires living in poverty? In Zimbabwe it is quite a common occurrence.