Cows For Collateral - How Zimbabwe Has Fallen - News Summed Up

Cows For Collateral - How Zimbabwe Has Fallen


GDP per capita in Zimbabwe, in constant dollars, is about where it was in 1960. There are cattle ranchers all over the world who use the value of their stock as collateral with the bank. The banks must accept the collateral. They can't get access to the land but nor can the new ones pledge or mortgage the land as collateral for a loan. Last time there was a central register of who owned what, the land register, the government used it to confiscate everything.


Source: Forbes April 16, 2017 13:30 UTC



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