A tsunami of unparalleled proportions
Even attempts to print more and higher-denomination currency notes does not quell the inflationary tsunami as the pace of rise of inflation is much faster and even the newly minted currency notes quickly lose their value.
Hyperinflation leads to hoarding, flight of capital, even exodus of people, a complete halt to new investment, production and jobs. It is a condition from where the economic recovery of a nation is very difficult and could take years to come back on an even keel.
Image: Zimbabwean President Robert Mugabe (R) and Zimbabwe's Central Bank Governor Gideon Gono tour a goods warehouse in Harare. | Photograph: Aaron Ufumeli/AFP/Getty Images
Also read: 10 things to know about Jaguar-Land Rover
Advertisement
