Wednesday, January 30, 2013

Congratulations - You're Richer than Zimbabwe

Yes, indeed, if you have more than $217 in your bank account, that makes you richer than the government of Zimbabwe, or at least you were last week.

Zimbabwe's Finance Minister Tendai Biti has said that the country only had $217 (£138) left in its public account last week after paying civil servants.

However, he said that the following day some $30m of revenue had been paid in.

Mr Biti told the BBC he made the revelation in order to emphasise that the government was unable to finance elections, not that it was insolvent.

Polls are due this year, with President Robert Mugabe's Zanu-PF fighting Mr Biti's Movement for Democratic Change.

Mr Biti has previously complained that diamond mining companies have not been paying revenues to the government.

1 comment:

Canadian silver bug/Green Assassin Brigade said...

Western papers are having a good laugh at this but how is it any different than Canada with our $600B debt, or the U.S with 14 Trillion? If forced to work on cash only we'd be well into our overdraft.