> economy largely dependent on imports
That's the root cause of ZMB hyperinflation. As well as droughts and a reshuffling of agricultural land that did not benefit anyone, decreased overall production and created food stress.
That's the root cause of ZMB hyperinflation. As well as droughts and a reshuffling of agricultural land that did not benefit anyone, decreased overall production and created food stress.
ZMB OTOH probably had a weak currency and an economy largely dependent on imports. Therefore when they started printing money it became worthless since it was a proxy for a currency they didn't control (the USD), and a strengthening of the USD would have a huge impact in reducing confidence in the ZMB dollar. A similar thing happened in Venezuela and Post-WW1 Germany I think.
For a better explanation see Big Debt Crises by Dalio.