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Business Daily

Dirty Money in Zimbabwe

Business Daily

BBC

Business

4.4816 Ratings

🗓️ 14 June 2018

⏱️ 17 minutes

🧾️ Download transcript

Summary

People queue all night to get filthy notes in a country which is running out of cash. Lesley Curwen visits Harare, the country's capital and talks to those who have to spend all night outside the bank and who then often don't manage to get any cash. And also when they do it's so dirty that it's not accepted outside the country. Plus Monica de Bolle of the Petersen Institute research group in Washington tells Manuela Saragosa about the economic similarities between Venezuela and Zimbabwe.

(Picture: People queue outside a bank in Harare; Credit: Zinyange Auntony/AFP/Getty Images)

Transcript

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0:00.0

Hello and welcome to Business Daily from the BBC. I'm Manuela Saragossa.

0:09.2

Coming up, queuing up all night to get dollars.

0:12.5

I can't go to work without cash. So I have to come here and get cash first. I don't even sleep.

0:18.1

I sleep by when I get cash.

0:19.6

We report from Zimbabwe, a country running out of cash,

0:23.5

and the uncanny parallels between Venezuela and Zimbabwe's economies.

0:28.0

This exponential rise in prices, this is the kind of trend that we have started to see in Venezuela.

0:34.1

So it's not unthinkable to see the situation deteriorating in Venezuela in the way that it did in Zimbabwe.

0:41.7

That's all here in Business Daily from the BBC.

0:46.9

What would you do if someone handed you a 100 US dollar bill?

0:51.4

It's a question being posed in a series of programs here on the BBC World

0:55.6

Service, which looks at the relationship we have with money, a series called Power and Money.

1:01.0

One of the investigating correspondence is Leslie Cohen, formerly of this very parish. I asked her

1:06.6

what she'd found out so far. Well, what we decided to do was look at what people would do with $100

1:14.2

because it's such a clear sum of money.

1:17.3

Everybody in the world really has a good idea of what a US dollar is worth.

1:22.0

And this would tell us more about the people themselves, the places they lived,

1:25.5

and what that amount of money was worth in their

1:28.2

country. So we went to two particular places. We went to the US, in fact, where the dollars

1:32.8

are produced and used. And we also went to Zimbabwe, where they are legal currency, because

1:38.6

the Zimbabwe currency imploded about a decade ago. So these two really different countries, we saw massive differences

1:48.4

in what people would spend the money. I'll just give you a very brief example. One mum of

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