watch the presentation and make a brief discussion on the topic explained. need to do a brief discussion about the ppt attached.
HYPERINFLATION IN ZIMBABWE HAYDEN YANNI, JOHNMANY SANTOS, KENNETH VEITH Fig 1. INTRODUCTION ● Since 1997 Zimbabwe’s economy has been on the decline and has experienced historic lows across all sectors ● Began dealing with rampant hyperinflation towards the end of 2007 reaching 79,600,000,000% in November of 2008 ● Fig 2. Significant issues with inflation persist GDP growth (annual %) – Zimbabwe CONT. • The prior 35 years of work done to grow the economy was undone between the years of 19972008 World Bank national accounts data, and OECD National Accounts data files. • Left the economy unstable • Has resulted in poor quality of life in Zimbabwe CAUSES OF HYPERINFLATION • Reduction in foreign investors – Redistribution of land from white farmers to black farmers in Zimbabwe reduced foreign investment • Fiscal management – The government’s inability to manage its finances CAUSES OF HYPERINFLATION C O N T. • Corruption – Robert Mugabe and his party were corrupt • Currency printing – The government increased printing of larger denomination bills ACTIONS TAKEN BY THE GOVERNMENT • Reserve Bank of Zimbabwe halted trading in stock • New Zim dollar caused more hyperinflation • Appointed in 2018, Minister of Finance and Economic Development Ncube implanted positive reforms • In 2019 new Zimbabwe Dollar was introduced SUGGESTIONS FOR FUTURE POLICIES • Digital Transfer – Further pushes into digital transfers • Currency Market Transparency – Upholding transparency efforts in the foreign currency market RESOURCES Hanke, S., & Kwok, A. (2009). On the Measurement of Zimbabwe’s Hyperinflation. CATO Institute Journal, 29(No. 2 (Spring/Summer 2009)), 353364. https://www.cato.org/sites/cato.org/files/serials/files/cato-journal/2009/5/cj29n2-8.pdf Pettinger, T. (2019, December 10). Hyper Inflation in Zimbabwe. Economics Help. https://www.economicshelp.org/blog/390/inflation/hyperinflation-in-Zimbabwe/ Maune, A., Matanda, E., & Mundonde, J. (2020). Is Money Supply the Cause of Inflation in Zimbabwe? An Empirical Examination. ACTA UNIVERSITATIS DANUBIUS, 16(no. 3), 17-37. ISSN: 2065-0175 Ncube, M., Hon. (2022). Addressing Zimbabwe’s inflation: The role of the digitalization of financial transactions. Brookings, (Feb 7, 2022). https://www.brookings.edu/articles/addressing-zimbabwes-inflation-the-role-of-the-digitalization-of-financial-transactions/
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