Robert Mugabe

Zimbabwe's hyperinflation: currency lost 50% of value daily

Simpson explains that under Robert Mugabe's reckless money-printing, Zimbabwe's currency devalued by 50% on a daily basis at its peak, wiping out savings and emptying hospitals and stores. The experience sparked her interest in non-state currencies.

“And so what this caused was massive hyperinflation, which at its peak had the currency devaluing by 50% on a daily basis. So basically people's savings were completely evaporating. Stores were not able to keep any merchandise in stock. Hospitals could not stock medicine. Doctors were not getting paid. People were dying from very preventable things.”