What does extreme hyperinflation look like? Consider a pile of currency tall enough to encircle our entire galaxy. That’s how many Zimbabwean dollars you would have needed by the end of the country’s extraordinary inflationary crisis to equal one pre-crisis Zim dollar, according to CGD senior fellow Alan Gelb.
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Not too many people would think to take a vacation in Zimbabwe. My wife Caroline and I have our reasons. Caroline was born and raised in the country, the descendant of an old Zimbabwe “pioneer” family. I am from South Africa.
That’s the question in Alain Vicky’s piece this morning in Le Monde Diplomatique (gated). Vicky warns that oil discoveries in Uganda’s Bunyoro region threaten to heighten simmering tensions between the local communities whose ground is being drilled and the central government which is pocketing the cash. Unmet expectations and popular frustration with politicians could unleash violence and do raise concerns that Uganda might be heading for a rough patch.