The unanimous endorsement of the 91 year old Robert Mugabe as the Zanu PF’s candidate in the 2018 elections can only deepen the economic malaise faced by the country. Mugabe has ruled Zimbabwe with an iron fist since the country’s independence from Britain in 1980.
The once bread basket of Africa has been turned into a nation of vendors and beggars with over 85% of the working population in the informal sector, yet the official unemployment rate is 5%, the same as the US which has achieved NAIRU a rate that is happily low, but not so low that the economy and job market risk overheating and causing inflation. The realistic figure in Zimbabwe adds to 90% unemployment, the 2016 outlook is bleak with more hardships and company closures expected.
South Africa’s GDP per capita of US$6618 is almost 7 times higher than Zimbabwe’s US$953 and the country’s US$4 billion…
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“The United States has said it will only lift sanctions on Zimbabwe if there are further political reforms, following disputed elections in July” says the news the other day. The first question that springs to mind is, ‘Who are these sanctions really serving?’
The United States Embassy in Harare states in their document: U.S. Sanctions Policy: Facts and Myths that, ‘U.S. sanctions apply to fewer than 120 Zimbabwean individuals‘. Many would find it difficult to comprehend the effectiveness of these measures on the said individuals in the 12 years they have been in operation. There is ample evidence that this targeted group has thrived during the sanctions, and honestly, one would struggle to find the kind of opulence outside of this target group.
Do these individuals care any less about travel bans to the West? That foreign travel still accounts for…
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