Tax time is here and a lot of people will become “thousandaire” over night due to refunds. Zimbabwe may need to claim some kids on their taxes though. The African country of Zimbabwe only has 217 dollars in thier bank account.
That’s 217 dollars, not $217 million or $217 billion.
Finance Minister Tendai Biti said Tuesday that that was all that was left in the country’s public accounts after it paid its civil servants last week, the South African Press Association reported. He told reporters in the capital, Harare, that some of them were probably better off than the state.
After a decade of inflation hit 500 billion percent in 2008 — leading to the issuance of 100 trillion-dollar bills in Zimbabwean currency — the country switched to the U.S. dollar and formed a coalition government in 2009, which the International Monetary Fund credited in September with taming inflation and stabilizing the economy.
“The government finances are in a paralysis state at the present moment,” he said, adding that the country might have to seek donations to stay afloat.