The
WB, in its latest Global Economic Prospects report, revised Zimbabwe’s economic
growth for 2014 downwards from close to 4 percent to 2 percent, forecasting a
further slide to 1 percent in 2015.
The international financial institution projected that economic
growth would subsequently sink to 0.6 percent, warning of the possible danger
of the growth rate turning negative in 2017 if no meaningful reforms are
carried out to attract general investment.
Mugabe knew that his reckless spending to win the
2013 elections at all cost risked bankrupting the already weak and frail
national economy. But the thought giving up power was simply unthinkable for
him and so he too that risk. When the national economy has been in intensive
care unit from the minute he was declared the winner.
He pulled off the vote rigging but rigging economic
recovery has proven to be a bridge-too-far. He has tried to all his usual
tricks but the begging bowl for the ZimAsset recovery plan has remained mockingly
empty; not even his old ally China would contribute. His racist rhetoric and
the real threat that he would allow his cronies to loot any foreign owned
businesses – many of them have failed to make money from the looted white-owned
farms and they are as poor as church mice and are therefore desperate for fresh
loot – has scared away would be foreign investors.
Without fresh financial injection the national
economy is not coming out of the ICU. With nether the donors nor investors
showing an interest there is no foreign money coming into Zimbabwe. The economy
has only one way to go – continue with its nose-dive.
4 comments:
@ Ndlovu
The people of Zimbabwe not the IMF or WB have been trying to have re-gime change and would have succeeded year ago if Mugabe had not been rigging elections.
Well since he cannot rig economic recovery it is clear that he will have to go. The people of Zimbabwe will finally have the regime change they have been cheated off after all. You do not like it and so too does Mugabe and many others; but for once it is what the people of Zimbabwe want that will carry the day and not what you lot want!
ZIMBABWE has registered deflation for the fourth month in a row since February this year, reflecting a slowdown in economic activity.
Mugabe has failed to rig economic recovery and this message will be rammed into his head sooner than he thinks because the economic nose-dive in gathering pace and not slowing down!
“FORTY-TWO people succumbed to diarrhoea last week, bringing the total of diarrhoea-induced deaths to 409 since the beginning of the year,” reported NewsDay.
We have sat on this health time-bomb for decades and now the nation is beginning to pay for it! We have known that there is no clean running water in all our major cities and towns for decades and have done nothing about it. Well diarrhoea is one of the many deadly illness take can spread very quickly and kill many, many lives.
Time is running out for Zimbabwe to force Mugabe out of office and so that the urgent business of rebuilding the nation’s economic can start. As long as Mugabe remains in State House this nation will continue to seat on time health bombs, economic bombs and political bombs – all primed to explode sooner rather latter.
@ NBS
Yes Mugabe and his cronies will have a lot to answer for before GOD. Still before they meet Him we must make sure they stand before a Court of Law here on earth; there are so many questions the nation would like answered. Beside the earthy Court's judgement may hasten the day of their meeting with God and the start of their eternal life sentence in hell!
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