HARARE, Zimbabwe — Zimbabwe's bank chief plans new currency reforms -- removing "more zeros" from the plummeting Zimbabwe dollar and raising the limit on cash withdrawals -- to tackle the country's runaway inflation and cash shortages, state media reported Sunday. Previous currency reforms have failed to tame Zimbabwe's inflation -- officially pegged at 2.2 million percent a year but estimated by independent analysts to be closer to 12.5 million percent. It also has become virtually impossible to get access to cash as the country's economic collapse worsens. Authorities last week released a new 100 billion dollar bank note. By Sunday it was not enough even to buy a scarce loaf of bread in what has become one of the world's most expensive -- and impoverished -- countries.
- JJ Commentary: And we worry about inflation rates over 5%!!
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