What Do You Think About Hyperinflation and What Solution do you Profound
Zimbabwe, the southern African country has been facing a lot of issues in its independence and it has been having a lot of sanction from foreign countries as well as political instability. At a time in Zimbabwe, the live was worse than a lot of African countries with a very high inflation and the currency (Zimbabwean Dollar). The country's currency inflated to a level where the citizen do not believe in their currency anymore, with inflation hitting over 100,000% and prices started to change every minute. The government kept on printing money and the government printed out 100 trillion Zimbabwean dollars. People would stay in the queue to withdraw trillions and quadrillions of currency not worth $1 USD.
People started recieving an annual income that couldn't pay for their daily expenses, vending machines stopped working as it needed too many coins to work. The government didn't stop printing money so as to cover for the government expenses and lifestyle.
Inflation has been something that a lot of analyst and economic expert would have something to say, some say it is part of governance to see that there is inflation but hyperinflation is bad just the same way deflation is bad. COuntries like Venezuela, Zimbabwe, South Sudan, Argentina, Sudan, Iran, Haiti, Liberia, Sierra leone, Angola and so on have been experiencing high inflation and only citizens in this country can tell how the inflation affects them.
I would like to understand what could have caused the hyper inflation, what is the preffered solution to this hyperinflation? Please you can share your thoughts on this and let's discuss.