It's amazing how thoroughly has been completely destroyed in the last decade. What I think most first-world readers miss is that Zimbabwe is not one of those (previously) ultra-poor, undeveloped countries -- it's had a frighteningly long fall to get to where it is now.
Zimbabwe introduces new $50 billion note
51–60 of 71 posts
Re: Zimbabwe introduces new $50 billion note
#52It's amazing how thoroughly has been completely destroyed in the last decade. What I think most first-world readers miss is that Zimbabwe is not one of those (previously) ultra-poor, undeveloped countries -- it's had a frighteningly long fall to get to where it is now.
Hyperinflation is caused by external countries refusing to invest in a countries currency, not by internal factors. So the current problem with money they are having is controlled by external entities.
Re: Zimbabwe introduces new $50 billion note
#53It's amazing how thoroughly has been completely destroyed in the last decade. What I think most first-world readers miss is that Zimbabwe is not one of those (previously) ultra-poor, undeveloped countries -- it's had a frighteningly long fall to get to where it is now.
Hyperinflation is caused by external countries refusing to invest in a countries currency, not by internal factors. So the current problem with money they are having is controlled by external entities.
Re: Zimbabwe introduces new $50 billion note
#54Earlier quoted context omitted.
Hyperinflation is caused by external countries refusing to invest in a countries currency, not by internal factors. So the current problem with money they are having is controlled by external entities.
I don't think that's correct, but I'll give you chance to post some citations backing that up.
All this has almost nothing to do with the actual economy of the country - many countries have fallen into much worse economic times than Zimbabwe currently is in, and did not have the problem with hyperinflation.
In actuality, Zimbabwe belongs to the top African countries in terms of infrastructure, education and production. It still does so, but it's currently under a lot of economic pressure from outside countries, and one of the effects is this hyper-inflation.
Re: Zimbabwe introduces new $50 billion note
#55Earlier quoted context omitted.
Hyperinflation is caused by external countries refusing to invest in a countries currency, not by internal factors. So the current problem with money they are having is controlled by external entities.
Mars has never invested in Earth currency. Therefore, and because of that, the Earth economy must have continuously experienced hyperinflation.
If you actually have an argument and you understand the facts of what you want to argue, then please lay out your points. A silly non-relevant statement does not contribute to the discussion in any way.
Re: Zimbabwe introduces new $50 billion note
#56Earlier quoted context omitted.
I don't think that's correct, but I'll give you chance to post some citations backing that up.
Hyperinflation is caused by a loss of confidence in the ability to exchange the local currency for foreign currencies. The Zimbabwe $ became difficult to change following the land reform exercise, and that started the cycle. Once the cycle starts, it's very difficult to stop. All this has almost nothing to do with the actual economy of the country - many countries have fallen into much worse economic times than Zimba…
Zimbabwe does not seem to be listed in the recent TIMSS data. http://nces.ed.gov/timss/table07_3.asp Where are you getting your information from?
This TIMSS page shows 1992 reading-score data for 14-year-olds for Nigeria (401), Zimbabwe (372), and Botawana (330):
Re: Zimbabwe introduces new $50 billion note
#57Earlier quoted context omitted.
Hyperinflation is caused by a loss of confidence in the ability to exchange the local currency for foreign currencies. The Zimbabwe $ became difficult to change following the land reform exercise, and that started the cycle. Once the cycle starts, it's very difficult to stop. All this has almost nothing to do with the actual economy of the country - many countries have fallen into much worse economic times than Zimba…
Zimbabwe belongs to the top African countries in terms of [...] education Zimbabwe does not seem to be listed in the recent TIMSS data. http://nces.ed.gov/timss/table07_3.asp Where are you getting your information from? This TIMSS page shows 1992 reading-score data for 14-year-olds for Nigeria (401), Zimbabwe (372), and Botawana (330): http://nces.ed.gov/programs/digest/d96/d96t402.asp
Bob Mugabe may have his faults, but he also took Zimbabwe really far.
Re: Zimbabwe introduces new $50 billion note
#58Earlier quoted context omitted.
Zimbabwe belongs to the top African countries in terms of [...] education Zimbabwe does not seem to be listed in the recent TIMSS data. http://nces.ed.gov/timss/table07_3.asp Where are you getting your information from? This TIMSS page shows 1992 reading-score data for 14-year-olds for Nigeria (401), Zimbabwe (372), and Botawana (330): http://nces.ed.gov/programs/digest/d96/d96t402.asp
From the Wikipedia page on Zim: "Zimbabwe has an adult literacy rate of approximately 90% which is amongst the highest in the world." Bob Mugabe may have his faults, but he also took Zimbabwe really far.
Because definitions and data collection methods vary across countries, literacy estimates should be used with caution.
Re: Zimbabwe introduces new $50 billion note
#59Earlier quoted context omitted.
From the Wikipedia page on Zim: "Zimbabwe has an adult literacy rate of approximately 90% which is amongst the highest in the world." Bob Mugabe may have his faults, but he also took Zimbabwe really far.
http://en.wikipedia.org/wiki/List_of_countries_by_literacy_r... Because definitions and data collection methods vary across countries, literacy estimates should be used with caution.
Compared to the rest of Africa, the Mugabe government has been pretty good, and it was generally praised a lot till the land redistribution exercise started, after which the media portrayal suddenly swung the other way.
Many people who are aware of Zimbabwe only studied the country post 2001, and those that did have their information sources mostly from sensationalist U.S or U.K based papers. They do not attempt to balance their understanding by reading alternative points of views.
Re: Zimbabwe introduces new $50 billion note
#60Earlier quoted context omitted.
http://en.wikipedia.org/wiki/List_of_countries_by_literacy_r... Because definitions and data collection methods vary across countries, literacy estimates should be used with caution.
That does not mean that Zimbabwe does not have a very high literacy rate - it is well known that it does because of the government policy towards education. Compared to the rest of Africa, the Mugabe government has been pretty good, and it was generally praised a lot till the land redistribution exercise started, after which the media portrayal suddenly swung the other way. Many people who are aware of Zimbabwe only…
Government policy does not corellate at unity with outcome. There are other factors.
Would you agree that there is probably a siginificant brain drain occurring right now in Zimbabwe?
http://news.google.com/news?q=zimbabwe+%22brain+drain%22
Would a brain drain likely affect the literacy level of a nation?