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Hyperinflation in Zimbabwe
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Hyperinflation in Zimbabwe : ウィキペディア英語版
Hyperinflation in Zimbabwe

Hyperinflation in Zimbabwe was a period of currency instability that began in the late 1990s, shortly after the confiscation of private farms from landowners, towards the end of Zimbabwean involvement in the Second Congo War. During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. However, Zimbabwe's peak month of inflation is estimated at 79.6 billion percent in mid-November 2008.〔(【引用サイトリンク】url=http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/2009/5/cj29n2-8.pdf )
In 2009, Zimbabwe stopped printing its currency, with currencies from other countries being used. By the end of September 2015, Zimbabwe plans to have completed the switch to the dollar.
==Historical context==
On 18 April 1980, the Republic of Zimbabwe was born from the former British colony of Southern Rhodesia. The Rhodesian Dollar was replaced by the Zimbabwe dollar at par value. When Zimbabwe gained independence, the Zimbabwean dollar was more valuable than the US dollar. In its early years, Zimbabwe experienced strong growth and development. Wheat production for non-drought years was proportionally higher than in the past. The tobacco industry was thriving as well. Economic indicators for the country were strong.
From 1991 to 1996, the Zimbabwean Zanu-PF government of president Robert Mugabe embarked on an Economic Structural Adjustment Programme (ESAP), designed by the IMF and the World Bank, that had serious negative effects on Zimbabwe's economy. In the late 1990s, the government instituted land reforms intended to redistribute land from white landowners to black farmers to correct the 'injustices of colonialism'. However, many of these farmers had no experience or training in farming. From 1999 to 2009, the country experienced a sharp drop in food production and in all other sectors. The banking sector also collapsed, with farmers unable to obtain loans for capital development. Food output capacity fell 45%, manufacturing output 29% in 2005, 26% in 2006 and 28% in 2007, and unemployment rose to 80%. Life expectancy dropped.
The Reserve Bank of Zimbabwe blamed the hyperinflation on economic sanctions imposed by the United States of America, the IMF and the European Union.〔http://www.rbz.co.zw/pdfs/2007mid/imp1_7.pdf〕〔(Illegal Sanctions to Blame for Economic Challenges – Mutasa ) ''The Herald (Harare)''〕 These sanctions affect the government of Zimbabwe,〔(S. 494 (107th): Zimbabwe Democracy and Economic Recovery Act of 2001 ) ''SEC. 4. SUPPORT FOR DEMOCRATIC TRANSITION AND ECONOMIC RECOVERY.'' See Section 4C.〕 and asset freezes and visa denials targeted at 200 specific Zimbabweans closely tied to the Mugabe regime.〔(EU renews Zimbabwe sanctions ), By Sebastien Berger, The Telegraph, 16 February 2010.〕 There are also restrictions placed on trade with Zimbabwe, by both individual businesses and the US Treasury Department's Office of Foreign Asset Control.〔(Office of Foreign Asset Control, US Treasury Department ) ''PROHIBITED TRANSACTIONS''〕

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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