Zimbabwe introduces $100 billion banknotes

HARARE, Zimbabwe (CNN) — Zimbabwe’s troubled central bank introduced $100 billion banknotes Saturday in a desperate bid to ease the recurrent cash shortages plaguing the inflation-ravaged economy. Once-prosperous Zimbabwe has seen an unprecedented economic meltdown since it gained independence in 1980, with the official inflation rate now at 2.2 million percent.. In January, the government issued bills in denominations of $1 million, $5 million, and $10 million — and in May, it issued bills from $25 million and $50 million up to $25 billion and $50 billion.