Global report warns of ongoing economic and food insecurity as the country lurches from crisis to crisis, write Memory Mataranyika and Tawanda Karombo
The drought has been dire, exposing more than 2 million people to hunger and even starvation if there is no immediate intervention. President Emmerson Mnangagwa’s government had hoped to address some of the distortions in the financial sector by having Zimbabwe ditch the use of foreign currencies – in place since 2009 at the height of hyperinflation – and bringing back the Zimbabwe dollar.
President Emmerson Mnangagwa’s government had hoped to address some of the distortions in the financial sector by having Zimbabwe ditch the use of foreign currencies – in place since 2009 at the height of hyperinflation – and bringing back the Zimbabwe dollar. “The point was for us to keep in line with best practice in terms of benchmarking hard currency in the economy against the total money. For Zimbabwe, we are looking at a current figure of below 2%, but internationally, it has to be between 10% and 15%.”
John Mangudya, the governor of Zimbabwe’s central bank, is in a difficult position as he tries to address the hard-currency shortages while battling inflationary pressures. “In order to really boost conditions in the economy, the government needs to boost confidence in the Zimbabwe dollar, and to improve its purchasing power and ability to retain value. Improving economic fundamentals will therefore be vital as a precursor to successfully introducing a new currency,” said Hayes.
“Perhaps there is an argument that the regime’s hands are tied with regard to making economic progress, but it has absolute freedom to clean up its governance act and begin to demonstrate that the Robert Mugabe era really is behind it,” said Van der Linde.Although Mnangagwa and regional Southern African Development Community leaders want the targeted sanctions lifted, analysts have said there are no immediate prospects of that.
Moreover, the US Senate Committee on Foreign Relations tweeted this week that the crisis in Zimbabwe was causing its citizens great hardship and challenged Mnangagwa “to work with, not against, his people to end corruption and implement reforms to restore the economy and end the suffering” of the populace.
tawakarombo
That is an old song years and years ago
Has been...
They will all come to Mzansi, Banana Republic, until it’s collapsed TOO
😪😪
Will see
We are dead already,what know is we are in Gehena where they is no food,no water,no electricity only cries.Remember your cries is the happiness of devil
marinavanzyl SADC AU myANC called Mugabe hero when busy destroying country
ed must go he has failed dismally , home and away, Zimbabweans can not put up with this nonsense again, hardened and resilient as we are, enough is enough , the buck has to stop somewhere !
davidp13 Just give up and die they mean? “.....have to become accustomed to life without essentials such as electricity, food and healthcare.”
Thanks to the black man!
That is exactly what happens when you steal the properties of farmers, and loose most of your skilled workers.
Zimbabwe. A totally decolonised country.
South Africa is hot on the heels of Zimbabwe and yet everyone carries on as though we’re ok!
Whites in SA are hiring them in all South African malls, factories and construction. They are cheap labourers. Poverty makes you to be turned into modern day slave. Blame yoself n yo Government.
When I look at Mnangangwa I just see Mugabe in a sheep skin. When Zimbabweans grabbed the land already they were suffering n they were very much aware that their action will be regrettable, yet they continued. Now they running away from these farms following whites in SA.
Considering the pristine highly productive 1960's Rhodesia. The black 'Zimbabwian ' populating are now getting the extrem punishment they deserve. Why should anyone care?
The same people who imposed sanctions on this country are the very same people who can help this country but that can only happen when you give a blue rose to their president maybe with shock he will resign....
Back to the DarkAges but Dicktator Mugabe is still a hero, hey malema and anc? Whoop. Whoop.
In South Africa if the take the EFF into power that where we going
So sad for the Zimbabwean nation.
FloydShivambu - do you read
It's just a normal thing in Africa....
They are paying dearly for their political allegiances ... SA only felt the partial effects of their own choices till now
Zimbabwe is going back to iron-age for life has become so miserable that even birds and dogs want to emigrate.
Most are prepared, they coming to live in SA. Life's unbearable in dat country.
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