Zimbabwe down to $217
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Zimbabwe down to $217

  1. #1
    Bah... HST4ME's Avatar
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    Default Zimbabwe down to $217

    Zimbabwe claims its accounts are bare




    HARARE, Zimbabwe — Zimbabwe's finance ministry said it has just $217 left in its accounts after paying the nation's civil servants and government employees earlier this month.
    Finance Minister Tendai Biti said the monthly salaries cleared out government earnings and tax revenues in January when he made an appeal Tuesday for foreign donors to help raise some $200 million for a constitutional referendum and elections later this year.
    But financial experts said Wednesday that Biti, known for his exaggerated rhetoric in the troubled economy, failed to mention quick returns from income tax, social security payments and increased taxable spending in shops and stores.
    Those daily revenues immediately replenish the country's battered coffers, experts say. Nationwide highway toll gates also separately bring in thousands of dollars a day.
    The government is the nation's biggest employer - with a work force of up to 300,000 - and salaries routinely account for more than 70 percent of its monthly spending.
    Many governments routinely pay out more than they receive, technically making their accounts empty, said Harare economist John Robertson. To fill that gap, they rely on domestic and international borrowing to which Zimbabwe has little access after years of political turmoil and economic meltdown, he said.
    January is traditionally a lean month for households in Zimbabwe after festive holiday spending and school fees needing to be paid at the start of the school year.
    Zimbabwe's world record inflation in 2008 wiped out savings held by ordinary people that were used to make ends meet, pay family expenses and that bolstered the local money market with cash that could be borrowed, Robertson said.
    A black empowerment program also scared off foreign investment and capital inflows that could have made a difference to the state's liquidity.
    "It is clear tax revenues have been limited this month but I don't think it's anything new. It has been like this before," Robertson said.








    Well at least they have something and are'nt trillions of dollars in debted.

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    Senior Member SBjet's Avatar
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    Quote Originally Posted by HST4ME View Post
    A black empowerment program also scared off foreign investment and capital inflows that could have made a difference to the state's liquidity.
    Wait, is this story about the US?
    Quote Originally Posted by Tom Brown View Post
    I'm still chuckling at being "poo-pooed" for straying off topic. Awesome.

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    Senior Member Boss460's Avatar
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    This coming from a country whose hyperinflation doubled prices every DAY, doesn't exactly shock and surprise. Mugabe f&*ked that country up good.

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    Already miss the 310/562 2manymustangs's Avatar
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    Quote Originally Posted by SBjet View Post
    Wait, is this story about the US?
    Change the dates/names and yes... Including several other aspects of the story that I wont touch...
    Pat Eason, the voice of reason...

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    They're better off than the US!! We're in the hole every month by billions!!!

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    Quote Originally Posted by wolfie View Post
    They're better off than the US!! We're in the hole every month by billions!!!
    True True... they dont have much but they do have BANK... Unlike the U.S.
    Pat Eason, the voice of reason...

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    Senior Member 500BBC's Avatar
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    bobo tried to borrow it and give it to a campaign donor, Mugabe pointed to our credit downgrade and told bobo he couldn't be trusted to pay it back.
    "Pot had helped, and booze; maybe a little blow when you could afford it. Not smack, though" President Barack Obama.

    Liberals just chose to ignore relevant information about the world they live in, and then call themselves sophisticated for having chosen to be more stupid than God made them.

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    Living in a cage of fear thatguy's Avatar
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    Quote Originally Posted by 500BBC View Post
    bobo tried to borrow it and give it to a campaign donor, Mugabe pointed to our credit downgrade and told bobo he couldn't be trusted to pay it back.
    You, Sir, owe me a damned keyboard!!! LMAO!!!!



    Damned hobos anyway, $217....what is that nonsense???

    You ain't shit until you are 10 trillion upside down!!!!!
    Tommy
    Quote Originally Posted by Rexone View Post
    Tommy please remove all Jimsplace quotes from your sig and don't put more back. He doesn't like it and it is against the rules. Thank you.
    "So as through a glass, and darkly
    The age long strife I see
    Where I fought in many guises,
    Many names, but always me."

    Gen. George S Patton

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    gn7
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    Quote Originally Posted by thatguy View Post
    You, Sir, owe me a damned keyboard!!! LMAO!!!!



    Damned hobos anyway, $217....what is that nonsense???

    You ain't shit until you are 10 trillion upside down!!!!!
    They are down right wealthy. What they need is some IMPORTED dimbulb useless leehes, some teet suckers, paper, ink and a printing press.



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