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EmailTo most Americans (i.e. not Bernie Madoff, AIG execs., etc) the dwindling value of the dollar has been nerve-racking, to say the least. It has also had an impact internationally. The BBC [12] reported one country, in which, the dollar might actually be helpful. Zimbabwe is undergoing a "dollarisation," which seems to be offering some temporary reprieves from the hyper-inflation, poverty, and starvation to which Zimbabweans have grown accustomed. The country has lifted restrictions on international trade, a move that has flooded the country with much needed goods, such as food and cars, from South Africa, its neighbor. Grocery stores, gas stations, and other services are rejecting the untrustworthy Zimbabwean dollar, and are only accepting dollars. U.S. dollars, however, are only available to the relatively well-off citizens. The Zimbabwean government just released a $500 million dollar bill, which is equivalent to about $50 USD. So, as we Americans worry about our troubles in this holiday season, let this serve as a reminder of two things: we could be much worse off and what we do affects the rest of the world. We should also be able to find some joy that, at least some, Zimbabweans are finding stability in the midst of global economic turmoil.
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