Toffees are money!

The ZiG (Zimbabwe Gold) is legal tender in Zimbabwe. It was introduced a year ago, after the Zimbabwe Dollar hyperinflated. The exchange rate to the USD is 1:31 now. Prices in many shops are stated in USD and who is able to holds and uses USD .

There is one catch though: there are no USD coins in circulation. That’s why you’ll get something else as change; like these five toffees each for 5 cents that we (had to) accept today.

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Everything is money when money is not money

some time in kenya when your change included anything less than 5 shillings at the counter you were handed sweets 🍬

Thanks for the insight! Great to see how people cope and find solutions if necessary … not the best solution, but definitely also not the worst

Have you ever tried paying a shop with USD coins?

🤣🤣🤣 can buy you toffees only

Never tried, never heard of, I assume it won’t be accepted as there are no coins in circulation and therefore they would be rendered worthless.

Another practice in Zimbabwe is to give out tokens instead of sweets as USD change. These coupons that we received today are already expired. 😇 I assume they will still be accepted next time. Why? Because people’s relationships are still built on trust although it’s a big city.

I remember during the hyperinflation period here in Venezuela. When even the local currency was scarce.

Almost always the change was candy

🥴

Anita did you read books such as Acemoglu‘s „Why Nations Fail“ if so what do you make of it? What are your top 5 reasons for the failed states in Africa?