People like Hloniphani Ncube have
been thoroughly brainwashed by Zanu PF propaganda and misinformation into believing
that sanctions are the root cause of Zimbabwe’s economic meltdown. This is
nonsense.
"The United States have intensified the sanctions which they claim they are targeting the government in particular with reference to their conduct of elections. Whilst this may appear to be good news in particular if they were going to affect Mnangagwa and the junta, it is however public knowledge that the sanctions will increase unemployment rate which is at 95 percent as we speak, liquidity crunch, the health sector which is at its knees, political killings and all sorts of negativity that ZANU PF embraces," said Ncube.
"The United States have intensified the sanctions which they claim they are targeting the government in particular with reference to their conduct of elections. Whilst this may appear to be good news in particular if they were going to affect Mnangagwa and the junta, it is however public knowledge that the sanctions will increase unemployment rate which is at 95 percent as we speak, liquidity crunch, the health sector which is at its knees, political killings and all sorts of negativity that ZANU PF embraces," said Ncube.
The root causes of Zimbabwe
economic meltdown are gross mismanagement and rampant corruption. During the
GNU years when just the presence of MDC leaders in government did force so
reversal of some of the more obnoxious policies the country’s economy went from
negative growth rate to +ve 12%.
It is now 8 eights since last
November’s military coup and the junta launched its “Zimbabwe is open for
business!” campaign. The flood of foreign investors the regime was confident
was coming never materialized because investors are a shrewd lot who are not
easily fooled. They did not take the junta’s word that Zimbabwe had shed off
its pariah state status with the removal of Robert Mugabe, they wanted to see
evidence of that on the ground.
By failing to hold free, fair and
credible elections the junta has just confirmed Zimbabwe is still a pariah
state ruled by vote-rigging thugs. Investors and lenders do not do business
with thugs, period!
The IMF, WB and other leading financial
institutions stopped lending money to Zimbabwe in 2000, long before the
American government imposed its sanctions of Harare in 2002, because the Zanu
PF government was failing to service its existing loans. The Chinese government
step in and granted Harare loans but after a few years it too stopped for
exactly the same reasons – Harare was a bad debtor who borrows but does not
repaid his debts!
The Genesis of Zimbabwe’s economic
troubles date back to soon after independence when Zanu PF’s pursued its misplace
socialist policies and reckless spending. The situation was made worse by the
criminal waste of human and material resources through corrupt. In 2016 the
then President Mugabe admitted the country had lost $15 billions of diamond
revenue through corruption.
The American government has just
confirmed that last month’s elections in Zimbabwe were NOT free, fair and
credible and therefore its sanctions against this Zanu PF regime will stay. Of
course, the elections were not free and fair and so retaining the sanctions is
a logical step.
There is no doubt that the Zanu PF
regime propaganda machine will go into overdrive in blame the sanctions for the
lack of foreign investment and economic recovery. The people of Zimbabwe must not
fall for the same Zanu PF hogwash, they must ask:
1) The Zanu PF
apologists to state in no uncertain terms that these elections were free, fair
and credible. (Even the most foolish of Zanu PF’s supporters have failed to see
how elections can ever be considered free, fair and credible when ZEC failed to
produce a verified voters’ roll, especially when at least 10 polling stations
had over 100% voter turnout with one recording over 200%.) If the elections
were not free and fair then the Americans were right to renew the sanctions
since sanctions were to remain if elections were not free and fair.
2) Ask if
President Mnangagwa has kept his promise to end corruption? It is now 8 months
since the November coup and yet no one has been arrested in connection with the
wholesale looting in Marange and not even one dollar recovered. The looting has
continued since Mugabe’s admission because, a year later, the Minister of
Finance admitted that government was still getting 1/6 of expected revenue.
What hope is there for any
meaningful economic recover if the country continues to haemorrhage $15 billion
particularly one with a GPD of $10 billion like Zimbabwe?
Zimbabwe’s economic recovery will
depend on two related issue; first, the Zimbabwe government addressing the
country’s own underlying problems of mismanagement and corruptions. Second,
restore lender and investor confidence that Zimbabwe is now a stable and
democratic nation, holding free and fair elections will go a long way in doing
this.
Lifting the West imposed sanctions without
addressing the two above will bring about no meaningful economic recovery. The
EU lifted its sanctions on everyone in Zimbabwe except for one or two years ago
and the economic meltdown continued.
Reinstating the targeted sanctions
will help focus the nation and the junta regime in Harare’s mind on the need to
hold free, fair and credible elections. Zimbabwe is not getting out of the
economic and political hell-on-earth the country is stuck in without holding
free and fair elections because only by holding free and fair elections can we
be certain of getting a competent and accountable government.
1 comment:
The debate on whether the economic sanctions are the root cause of Zimbabwe's economic meltdown is one of those debates that has been proven to be a Zanu PF decoy to draw the attention of the naive and gullible from the true causes - mismanagement, corruption and Zimbabwe's pariah state status which has scarred away all would be investors and lender. Those who still maintain that sanctions are the cause of our economic hardship are time waster; if someone still maintain the earth is flat and not a sphere, let them.
Of course, President Mnangagwa failed to deliver on his promise to hold free and fair elections and it is gratifying that the Americans have acted decisively in stating that the economic sanctions will remain firmly in place.
One hopes that the Americans will now revisit the sanctions with the view of making them bite. Zanu PF leaders on the list have managed to get away lightly by using their relatives and friends as the front. For a country that is now the poorest in Africa, Zimbabwe has a disproportionately high number of apologists and acolytes promoting the regime's selfish agenda; all funded with looted national resources. The sanctions can start turn turning the screws on these parasites too.
A few weeks ago, the Americans stopped funding some of the useless NGOs in Zimbabwe; that was a clever move. The Americans must extend this to include some of the country's utterly useless opposition parties who have been participating in these elections against sound advice not to for selfish reasons.
So, a big thank you to the Americans for imposing the sanctions and one only hopes that the EU and all the other Western country will take the lead from the Americans and reimpose the targeted sanctions. The prospect of Zimbabwe having to suffer another five years of Zanu PF misrule is unthinkable but unless decisive action is taken now it is hard to see how else this mess is going to end!
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