Zimbabwe All but Drops Currency after Introducing $100 Trillion Note

Acknowledging that hyper-inflation has devastated the current economic climate within its borders Zimbabwe has all but abandoned its currency as it will now allow businesses to accept multiple currencies.

Zimbabwe recently introduced a $100 trillion note, a clear sign that the 231 million percent inflation was making the dollar nothing more than a joke.

Finance Minister Patrick Chinamasa announced that all businesses would now be allowed to accept U.S. dollars, euros, British pounds, South African rands and other popular currencies. Several businesses had already implemented a “foreign currency only” policy despite laws preventing such a practice.

The financial collapse of Zimbabwe has continued to worsen as questions remain concerning a power-sharing agreement between current President Robert Mugabe and opposition MDC leader Morgan Tsvangirai. It has been nearly one year since Zimbabwe held their presidential election yet there has been no true resolution to the controversial outcome that kept Mugabe in power.

In addition to the economic and political problems Zimbabwe is also dealing with a cholera outbreak that has killed more than 3,000 people and those numbers could continue to rise as the health sector is in shambles and people lack clean drinking water while sewage continues to flow through streets.

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