Yugoslavia Issues New Tito Banknote
The Yugoslav government, apparently reacting to soaring inflation, issued a new banknote Monday that is worth five times the largest one in circulation.
The new 5,000 dinar note bears a portrait of late President Josip Broz Tito on one side and a picture of the historical Bosnian town of Jajce, where Communist Yugoslavia was constituted in 1943, on the other. It is worth about $16.
Introduction of the note was uncertain until recently, since some critics said that Tito’s portrait, appearing for the first time on the dinar, should not be linked to Yugoslavia’s economic problems. Tito was Yugoslavia’s undisputed leader until his death in 1980.
Yugoslavia’s inflation is almost 80%, and it owes foreign creditors about $20 billion.
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