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Wednesday, January 30, 2013

Not The Onion: Zimbabwe has just $217 left in the bank

At CBS: “Last week when we paid civil servants there was $217 in government coffers,” Finance Minister Tendai Biti said, according to The Telegraph. “The government finances are in paralysis state at the present moment.”

That last admission was an understatement not because of his assessment of paralysis, but because he implied the problem is only a recent one.

The country that was once considered southern Africa’s “breadbasket” for its fertile lands and rich mineral deposits has been experiencing slow but certain ruin due to more than three decades of largely despotic rule by President Robert Mugabe.

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