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Thursday 16 September 2021
HomeAfricaZimbabwean economic crisis doesn’t seem to reach an end…

Zimbabwean economic crisis doesn’t seem to reach an end…

Zimbabwe’s Dollar inflation rate has already exceeded 1200%; the country is facing poverty and hunger with the food shortage and the agricultural production downfall since Mugabe’s decision to pass the white citizens’ fertile lands ownership to the blacks, in 2000.
Tourism is in real trouble since violence is rising against government’s inability to contain the economic depression. Tourists are now fleeing the country to the neighbour poor Zambia that tourists think to be more peaceful.
The Zimbabwe’s Ministry of Industry admitted that the national industry is largely handicapped, as only 13% of the factories are operating above 75% of their total capacity, 32% are operating above 30% of their total capacity.
Now the situation is even worse with the increasing number of arrests of corrupt officials, revealing more inefficiency in the government’s mechanisms and causing a loss of confidence in the country’s capacity to repair the ruined economy. The situation has reached an alarming level : people expect to pay bribes to get administrative documents, to subscribe in schools or to get jobs.
China has announced three weeks ago that she is willing to offer about US$500 million as a loan to help restore the Zimbabwean economy and support the country’s foreign currency’s stocks; but specialists still have doubts about China’s intentions by offering such a loan from one hand, and about the government’s ability to manage the current situation, from the other hand.

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