A quick thought....will Robert Mugabe take Zim dollars from US hunters for daily rates & trophy fees? Buying hunts at the offical US-to-Zim rate (30K to 1), but actually getting the cash on the black market (220K to 1) could make the safari very inexpensive.

Gunyana /

Was just wondering ....

1) What is the curent price in Zim currency for a wheelbarrow as one would need that to carry around the loot.

2) Where about is the actual (note printing) done when Mugabe orders money to be printed unilaterally to pay IMF and others including civil servants wages ... Is that done locally, or if not

Which country is in on the scam and bending the rules ? Is it one of our so called busllshit Western Democracies or some other scum bag banana republic (-:

Cheers Peter

John

The operator has to prove that the hard currency (US$) was banked at the official rate before the trophies can be exported. There are legal minimums as to what an operator may charge- so you cannot say you sold a 10 day buff hunt for US$5k - bank that and then use the rest to buy fuel or whatever on the black market.

Peter. - our actual notes are printed in Germany. The bearer cheques -promisory notes with an expirey date on them- the basic note is made in germany and is finished off here.- which is why the $5000, $10,000 and $20,000 bearer cheques all have a rasied $50 in each corner and the metal security strip is marked Z$50 RBZ if you hold it up to the light! ie they were basic $50 notes that were over printed locally. The new $50,000 bearer cheques are new notes, but the basic note is still made up in germany ( metal strip, serial numbers and watermark) and then final printing done here.

A wheelbarrow- lets se - a chinease one is Z$10 million- but they are piled outside the supermarrkets for the taking almost as people have learned never to by anything made in China. A wheelbarrow made locally that will actually survive the push home? Z$35 million

So what does all this mean for hunters? I am looking at booking a hunt for July 07, and several people recommended Zimbabwe as the best option for Buffalo, but Zimbabwe sounds like a sinking ship. Even with a booking agent holding the money in the US until the hunt, I would worry that something would happen after the hunt and I would never see my trophies. Many on AR and other places do not seem concerned about this. It sound like Zimabawe could be headed for civil war. What are your thoughts?

Zim is nowhere near a civil war! We haven't even managed a proper strike since 1998! Typical media crying wolf long before there is one even on the continent let alone in the country!

that said, Zim has gone from an orderly country with the crooks in the safari industry on the back foot to one that is fairly wide open with corruption and the number of openly crooked dealers increasing at an alarming rate.

Rule 1- there are no bargin buffalo hunts in Zim. - There are legal minimum fees that cannot be got arround, and every reputable operator with a decent concession can sell every buff he has. A couple of good friends who are operators have already completely sold out for 2007 and one has only 6 (out of 60) buff available for 2008.

Those with the quality animals, good camps, paperwork done so clients get trophies, logistical back up so that there is always fuel/cokes etc in camp have no worries.

To be fair there are some smaller operators (good hunters and honest men) who buy a portion of quota off one of the big boys who don't have the reputation and therefore have stuff still available but many of the buff available at "discounted rates" are in marginal areas or are total "fly by night operators (either locals or South Africans) who are taking american hunting on occupied ranches- importation of the trophies from such properties is a lacy act violation- which is why our government has slapped a hunting ban on the worst affect area to try and stop clients getting ripped off and protect the industry.

Contact the association before you book and the US embassy contact man HougaardM2@state.gov

Zim offers some superb hunting, but like all African countries "law and order" diminishes rapidly outside of the main cities. The President, Minister of environment and commissioner of police can all "ban" some activity (like unregistered hunting or gold panning) but in a rural district, in a country that is short of fuel, and the local police chief earns US$100 a month-a couple of hundred dollars buys you the complete co-operation of the local police- so you can do what you like. Same applies to parks.

Ganyana:

I suppose because you live in the country that the changes in Zimbabwe are not so perceptible to you on a year by year basis. I was there in 1993 and what you describe is totally alien to my experience of some 3 weeks in the bush. Please understand that I am not contradicting you - I am simply saying that in 1993, Zimbabwe was a total fulfillment of every first time hunter in Africa's dream. I loved the country and its people (black and white alike). My trip was a total success and I am saddened to read your account. (No need for reply, of course)

Exchange rates for today (maybe only for this morning... no quote in this country is valid for more than 24 hrs)

1) Official rate ( ie what you get if you use your credit card- or I get if you give me a TC)
1US$= Z$101,000

2) Black Market rate 1US$=Z$ 325,000

The new $100,000 note comes out today but haven't seen any yet.

A line of Olympic double trap at the club yesterday cost me Z$3 million.

Ganyana, on a related note, as hunters, is it better for us to tip our PH's and staff in cold hard USD as opposed to traveler's checks?

quote:

Originally posted by Bwanna:
Ganyana, on a related note, as hunters, is it better for us to tip our PH's and staff in cold hard USD as opposed to traveler's checks?

Bwanna,

For you as a hunter ["...us..."] it probably does not make much difference.

For the tip-receiving PH's sake I should think that HARD CASH in US $ is what is really appreciated. It can be excahanged at blackmarket rates US $ 1 = Zim $ 325 000 to buy things with. Compqare this with TC's that have to be cashed at a bank at US $ 1 = Zim $ 101 000. The PH's have to buy things to live from in Zim $. And many have to go overseas to market, like at Reno. Can you think how much a PH will have by January 2007 if you now tip him US $ 1000 in TC's. He can bank a cool Zim $ 101 milion. If he is clever he would hold the TC to just before the expiry date [ don't know how long that is] and then bank at a higher exchange rate than now. But he has to exchange Zim $ back into US $ to pay for things in Reno. By January 2007 he may get a whopping US $ 50, or maybe a bit more for the US $ 1000 that you gave as a big tip! Ask Ganyana to make that prediction of what the oifficial Zim $ to US $ exchange rate may be by January 2007, but I'm sure it will such that your well tipped PH will not get even be remotely near US $ 1000 by then.

If you now give him US $ 1000 in hard cash, and he keeps it safe, he still has US $ 1000 come January 2007!

In good hunting.

Andrew McLaren

Bwanna For the PH, a cash tip is worth three times more than travelers cheques - unless he is also a safari operator with a Special Foreign currency account at the bank. He can then bank them - loose 30% to government at the "official rate" and use the remainder to import fuel etc (ie obtain true value)

For a working PH...You either have to have an (illegal) account somewhere sensible where you can send the TC's, give them to the safrari operator for the best deal he will give you, hang onto them until you next go to the states... anything but change them at the bank! Shops etc generally will not accept Travelers cheques. If they do ( Like Harrisons the main gun shop in Harare) then if something is marked at US$ 200 you get to hand over US$600 in TC's

Paying the outstanding balance on the hunt, some TC along in case you take extra animals, a night in a hotel... that is fine. Some operators would rather you settle up in something other than cash. This is particularly true when they have a contract PH taking the hunt and they are at the other end of the country. Ask your operator, but for the PH and camp staf tips - cash please.

Bwanna: Make sure you wear a money belt. You can borrow mine.

That story's been told here!

Thanks Ganyana, I think I'll take some cold hard with me. I know in RSA most of the camps have safes, is that true in Zim in the hunting camps, or where is the best place to keep the cash and TC's safe?

Almost every camp has a safe - and a large one considering our currency!!!!! and the fact that we don't have credit cards and almost nobody will accept a cheque. Same goes for every PH. You need somewhere to stash 20 million for fuel on the way home or whatever. everybody has a plan!

Photo from Ganyana



The New Zim $100,000 bearer cheque (front and rear), A $20,000 (note it is an over print of an old $50 note) and a $1000 – our highest denomination of actual cash

If anybody is wondering what the picture is on the back of the $100,000 note (same picture on the 50,000)- local opinion is that it shows Zimbabwe burning- about right.

Can a country with a monetary system in this condition be far from collapse or anarchy? To what degree can or will it's neighbors prop it up? My knowlege is limited to a few econ courses 45 years ago. What does history tell us? Informed comments solicited.

During my visit in SA, one of the issues that came up in the local papers was that the impact of Zim's economy on SA was negative and significant enough that it could not be ignored. The articles went on to describe the various ways that the negative impacts were being felt, but little about what actions would be taken (that is, how they were going to go about not ignoring the problem).

Dan

Brice

For something to happen we need a leader. The oposition is fragmented and figting each other harder than the government. The ruling party is all but split into three and the people - army and police included are waiting for someone to lead! How long can this go on? Three weeks to three years, was the comment last week from the Helen Suzman Foundation. They are right- until we get a leader, we will just print bigger notes!

Ganyana - nailed it again - since I come from Slovenia that was once part of Yugoslavia - I have seen those things in person - it also happened in Romania tho kinda different, but I guess at least two(or mix of them) possible scenarios when shit hits the fan can be forseen.

1. the leader dies and the power goes in to many hamsters hands that can let their dogs out just to end it all in another war (Yugoslav case).
2. (more credible) the opposition finds a common denominator (i.e. leader or leaders), after the absence of "Panem et Circenses" goes well bellow the line of tolerance, and the hamsters will (at least at the start) only have one opponent (Romanian case).

...however - "help" from outside will play a crutial role - tho the quantity of the stirr will be mutual to the amount of time that it will take...

...let me wish you guys there as much luck as possible - take care

I just returned from a hunt in Zim. I must say I had a great time and a great hunt, although I initially had some apprehension as to whether I would get into some sort of trouble there.

I was mainly in the bush, but I drove from Harare to Chewore and back and thus had a short glimpse into everyday life. I never touched a Zim banknote; I settled everything in USD with no problems whatsoever. I did not go shopping however, which is when you would need local cash. Beware of the exchange rates, as you get quotes from 100K to 300K but it is not a liquid and legal market...

I live in Mexico, where we had our own tequila crisis back in the 90s. The Mexican people nearly organized a revolution when inflation hit 150%, and Mexicans are a conservative and sheep-like lot when it comes to politics. So I was surprised to learn that Zim´s inflation is now over 1,000% (I do not believe they even know how to measure it, and its value is surely manipulated by the politicians, as the central bank is not independent...) and, in spite of this fact, to find a "business as usual" mentality in Zim. No demonstrations, no painted walls, no people pestering you for your USDs, no "political" road blocks, nor anything indicating an imminent burst of violence or civil disobedience. I normally encounter more problems while living in Mexico City´s everyday "controlled caos" than during all my visit to Zim.

What I experienced however is the following:

1) Roads nearly empty. People have problems buying gas. Cars are very expensive.
2) Rampant inflation. I saw people buying their beef-steaks at a shop and paying, Weimar Republik like, with large bricks of local money. The shopkeeper didn´t even bother to count it.
3) There is a great hatred between the whites and the blacks. Racism and inverse racism is definitely a problem.
4) While driving on the road the damage of the illegal seizing of farms was evident. I did not see agricultural activity, like tractors working or big maize or sorghum fields.
5) There are daily rationing power cuts in Harare. They even have a relatively exact schedule of when this is going to happen and when it is to end.
6) The great news while I was there was that Mugabe was considering to give the land back to all the whites he had expropriated without compensation and sometimes with violence. The whites were turning him down (I wonder why...)
7) The economy is generally in shambles, but white people have more or less adapted to the high inflation and are surviving
8) Real Estate prices have (unsurprisingly) collapsed as there is a lot of selling pressure.
9) Rates paid for deposits in banks are minimal (much lower than inflation...), so people do not save in local currency.
10) The poor, as this result is well known in inflationary economies, are getting poorer.

In a pinch, I think that Zim is going to blow up. However, the country has a small population, geopolitically is of minor interest to the powerful countries, and it should be rather easy to bring back to its feet if the proper economic stabilization policies are implemented. However, there is no opposition and, in my opinion, due to his old age and incompetence, Mugabe is on the way out and will most likely be substituted by a lighter version of himself...

Antonio

At some point t hey are going to have to drop the zero's off the currenct like Mexico did a few years back, its getting too confusing, I wouldnt be suprised if the exchange rate hits one million to $1USD sooner than later. When i WAS THERE A MONTH AGO THE INTEREST HE BANKS WERE PAYING WAS %500% AND LOANING AT 700%. sorry about the caps.

Is there a way I can buy cashier's checks from a Zimbabwe bank in one million Zim dollar denominations and have them mailed to me in Arizona? I'd like to give them as gifts this Christmas.

Bill Quimby

1.00 USD = 101,419.50 ZWD

1 USD = 101,419.50 ZWD 1 ZWD = 0.00000986004 USD

At this time at least.

upa - but you are talking official rates Petrol is short and $320,000 a litre- ie 1$us a litre at the black market rate ($3.5 a gal)

So actually our money is worth a third of your rate- Three of those new 100,000 notes to 1 US!

LV Erik

In principle, you can´t take the zeros off without having a comprehensive shock plan. This can happen only until inflation is somewhat controlled, and Zim is many years away from that...

Antonio

quote:

So actually our money is worth a third of your rate- Three of those new 100,000 notes to 1 US!

When I was ther a month ago the $50K notes were worth 25cents now the new $100K notes are worth 33 cents so the net gain with the wonderful new space saving currency is 8cents/note, wow talk about foward progress.

quote:

Originally posted by Antonio:
LV Erik

In principle, you can´t take the zeros off without having a comprehensive shock plan. This can happen only until inflation is somewhat controlled, and Zim is many years away from that...

Antonio

when did mexico drop the "Zero's"? I'm guessing things had been brought under control when they did that. I remember going to Mexico and spending 225,000 pesos for dinner for 5 of us in 88 or 89? i cant remember the year exactly

LV Eric:

During the Salinas government, in January 1st, 1993 the "Nuevos Pesos" started circulating. The bank notes were identical to the old pesos, but with three zeros less. The adjective "Nuevos" (new) was dropped in 1996. By then the economy had been somewhat stabilized by privatizing state industries and the banks, and the Nafta agreement was signed.

Antonio

Today rates

Official Z$101,000 = 1 US$

Reality Z$460,000 = 1US$

Fuel is US$ 3.25 per US Gal

Coco cola has gone up to Z$100,000 a bottle ( gasp)

Fuel is US$ 3.25 gallon.

That's what I paid to fill up at a gasoline station on Arizona's White Mountain Apache Indian Reservation -- 24 gallons came to $78.

Bwanna just returned from Zimbabwe and informed me that fuel was over $30 a gallon. Maybe that's why he's a lawyer instead of a mathmetician, scientist or doctor.

UEG depends what exchange rate you are using... If you are a PH and getting paid at 100,000:1 - which many operators are still paying- then gas costs US$15 a gallon- Of couse we use ( and think) in imperial gallons - At official rate nearly US$20 a gal. Of course in some out of the way places they are charging US$5 a gal for real green cash!

We now have a new currency - the kilo dollar ( KD's for short ) Nothing more than dropping three 000's offthe old money. Typically, the government has canceled the old notes without printing enough new ones to replace them. I want to see what they do when the police and army get paid on the 15th

We have also officially devalued

Officail rate is Z$250,000:1 US$ ( 250KD's :1 US)

Black market rate has gone through the roof as nobody trusts the baboon in charge of our central bank. 1US$ now trades for somewhere between Z$650,000 and Z$850,000.

With the ill thought out implimentation of the new currency, should think we will see a rate of a million to one by the end of the month.

PWN375 has been asked to post a photo of a security guard with his months wages (Photo taken monday). The pile of money is worth less than US$20!

Ganyana,

Below is the photo you requested.



Perry

No wonder my outfitter and PH have been holding onto teh dead presidents cash I gave them in June waiting for the rate to continue going up - a unique investment strategy for sure.

Ganyana,
When I was in Bulawayo on June 27th with Kirk Mason we noted fuel at Z450,000 a liter. Later that evening, Karl Mason, Kirk's brother and a PH himself informed me that he had seen it for Z800,000 a liter. My US$30.00 estimation was based on paying the offical exchange rate of Z100,000 to US$1.00. Assuming there are over 4 liters in the US gallon, my math would suggest at Z800,000 a liter and the offical exchange rate a liter would have been over US$8.00 - hence over US$30.00 a US gallon.

I didn't see the price that high - I did see the $450,000/liter. Did you notice the price that high, and is my math bad on that assumption?

Bwana

Rural stations always charge more for Fuel. I bought this morning at Z$610,000 per litre. There are 305l to a US Gal (4.54 to an imperial Gal). At official rates, petrol is 2.44 per l or US$8.54 per American gal.

I am sure in places in like Gokwe or milabezi it is arround 850,000/l ( ie 1US$/l at the worst case scenerio for the US$).

The latest update from Ganyana.

Please find attached copies of some of Zim’s new currency. It is a joke - the new 50c note is worth less than 1/10th of a US cent. And they have printed 1c notes!!!! The cheapest single item in the shops – a boiled sweet cost Z$1 so what are the cents for????

They did just lop two zeros [edit -- three zeroes?] off the end of the currency, but I am not sure that makes these practical. Still they are probably cheaper to produce than coins!

From the BBC:
Zim seizes cash