"The International Monetary Fund says the introduction of a bullion-backed currency by Zimbabwe has helped to end the instability that had plagued the economy," reported Bloomberg.
"The ZiG official exchange rate has so far remained stable, ending a bout of macroeconomic instability in the first three months of the year," the Fund said in an emailed statement Wednesday following an Article IV review.
"Assuming that macro-stabilization is sustained, cumulative inflation in the remainder of the year is projected at about 7%.”
The ZiG is a phantom currency - now you see it now you don’t! How can something that is not there lose value! The regime has made it so, so it does not lose it value.
The IMF should have inquired how many ordinary Zimbabweans have actually ever had the ZiG note in their pocket!
The need to use the local currency in parallel with the foreign currency was to fill the gap born out of the need for small change and to enable those with no access to the foreign currency to carry out their business transactions. The ZiG has become readily available as eco-cash. Zimbabwe has become a nation of informal traders and how many of them have access to swipe machines.
Of course, Zimbabwe can have a stable local currency and pay its workers a living wage by reviving the country’s economy. Decades of gross mismanagement and rampant corruption has left the country’s economy in ruins. The country’s hyperinflation was fuelled by the rat race of soaring wages to catch soaring prices chasing fewer and fewer goods and services due to the collapsing economy.
Zanu PF is containing ZiG inflation by imposing a phantom currency, squeeze out the ordinary people out of all forms of economic actives, pay teachers, nurses and other low ranking civil servants peanuts! The regime has tamed inflation but at the price of millions of ordinary Zimbabweans are living in abject poverty with no clean running water, no electricity, basic services such as education and health care.
And as long as nothing is done to stamp out the mismanagement, corruption and the lawlessness at the heart of the economic ruin, the country will continue to sink deeper and deeper into the economic and political abyss. Zimbabwe will remain a failed state, million doomed to live and die in abject poverty, or be it with 7% inflation rate and not the 500 billion percent of 2008!Only an idiot would accept this!
The trouble with these IMF buffoons is that they take the same blinked approach in the assessment of a country like Zimbabwe as the take in their assessment of the economic performance of a country like Japan with healthy and functioning democratic institutions. And so they look at the 7% inflation as proof of macro-economic stability and sustainable growth. This is nonsense macro-economic stability achieved by sacrificing millions of ordinary people and doing nothing to revive the economic ruin is socially, morally and politically unsustainable!
24 comments:
@ Happy Furniture Home
"This flash disc called is always on repeat as it keeps on playing the same thing until it gets monotonous."
Until we implement reforms and have free and fair elections reforms will remain on the national agenda. You just do not want Chamisa held to account for selling out on reforms and hence the reason why you want me silenced.
Be rest assured, Chamisa will be held to account for lying and conning village idiots like you to participate in flawed 2023 elections to give Zanu PF legitimacy. The number one reason Chamisa must not be let off the hook is because he is most likely to repeat the lie in 2028!
@ Mama Africa
"What a load of rubbish! Mukori you take the Whole Cake and leave no crumbles for trash talk! You’re the Mastermind followed by ngochani chinono and the Gambakwe. Useless Cows y’all are damnit ."
You have not pick even one issue I raised and shown why it is rubbish. Any one can say this is good or that is rubbish real class comes out when you can prove why it is good or whatever!
@ Charlie
"Don't make noise.
Just form your on party so that you will not conn anyone."
The number one challenge is educating nincompoops like you who were conned by Chamisa and company into participating in flawed elections in 2013, 2018 and 2023 only to give Zanu PF legitimacy and perpetuating the masses' suffering. There is a real danger you will be conned into participating again in 2028! Some one has to knock some sense into that cupcake empty head of yours. I have the sludge hammer for the job!
The insanity of participating in flawed elections to give Zanu PF legitimacy must and will be stopped!
https://www.youtube.com/watch?v=SDr-tclqUBQ
IMF praise Zanu PF for taming ZiG inflation, pegged at 7%. What they are ignoring is that the regime has achieved this by making ZiG a phantom currency and by paying teachers, nurses and other low ranking civil servants slave wages. Meanwhile the regime has done nothing to end the gross mismanagement and rampant corruption the root causes of the economic collapse and prime cause of the inflation.
IMF must stop having these blinkered economic assessment which are totally misleading; of what benefit is it for Zimbabwe to have 7% inflation when millions continue to live in abject poverty because we have not stamped out corruption!
@ Hopewell Chin'ono
ZANUPF is tone-deaf and really doesn’t care about how Zimbabwean citizens feel or think about its rampant and massive corruption.
The ZANUPF government gave away over US$7 million for a so called presidential goat project to ZANUPF crooks who only delivered goats worth less than US$80,000.
Today, they come and tell you they are doing it again.
ZANUPF's blatant corruption and lack of concern for the citizens of Zimbabwe are absolutely appalling!
It is mind boggling how these politicians can so openly misuse public funds and then turn around and expect the people to trust them again with the same scam. Mind-blowing!”
As long as Zanu PF retains the carte blanche powers to rig elections there will be no meaningful economic change because to address the the gross mismanagement and rampant corruption we must first end the culture of rigged elections giving Zanu PF the untouchable political arrogance.
We should not have participated in flawed 2023 elections to give Zanu PF political legitimacy. The danger is Chamisa is gearing to repeat the same lie and con his brainwashed supporters into participating in the 2028 elections so history will repeat itself.
After 44 years of rigged elections it is insane we are seemingly incapable of accomplish this basic task.
@ MM
“Weak minds dwell on one thing through out the year.”
I am talking about reforms and the need to end the curse of rigged elections.
You are compiling about me repeating the need for reform and yet indifferent about the 44 years of rigged elections.
There is a real danger of Zanu PF rigging the 2028 elections and you are not even aware of it, it is all water off a duck’s back to you.
It is not those pushing to end the insanity of rigged elections who are the problem here; it is the nincompoops like you who are fighting to maintain the status quo.
https://www.facebook.com/4415858595176450/videos/494850329750027
Some people have been thinking of street protest as a meaning of achieving meaningful change in Zimbabwe, no doubt inspired by the events in Kenya. Be warned that Mnangagwa is a ruthless thug who has used brute force before and will use it again in his desperate effort to hang on to power. However, I do agree that Zimbabwe's economic situation will only get worse as long as Zanu PF remains in power.
so what is to be done to end the Zanu PF dictatorship without giving Mnangagwa the excuse to break limbs and shed innocent blood? STOP PARTICIPATING IN FLAWED ELECTIONS TO GIVE ZANU PF LEGITIMACY!
@ Joyce Magaya
“Izvi zvinoitirwa kuodza mwoyo yevanhu maadmin bvisai vanhu ava nenyaya dzavo idzo ndidzo honye dzisingadi freedom idzi kana maona kuti president wedu akutadzirai endai munoita enyu mapato.”
Here we go! We have had to fight the Zanu PF bullshit that they are not accountable to the people because they fought in the war of independence. When we thought we were finally silencing the village idiots, another lot have emerged! They think Chamisa is a demigod who must not be held to account!
If anyone hold public office, what he or she does or fails to do in that office affects us all and not only those who voted him/her into office and therefore them are accountable to us all. That is not negotiable.
Of course, Chamisa lied about plugging all the vote rigging loop hole to con village idiots like yourself into participating in flawed elections to give Zanu PF legitimacy and thus perpetuating the dictatorship. He must account for it.
You do not want to admit Chamisa lied and that you, for your part, was foolish to believe the lie. Well you were foolish to believe the lie but worst of all, being the first class village idiot you are, would be conned yet again come 2028. This is one thing you will not be allowed to do and I am here to hammer some sense into that empty nincompoop head!
Zimbabwe is a failed state and the root cause is 44 years of rigged elections! This insanity must be stopped and all that must be done is kick the backsides of the village idiots who have their heads stuck in Chamisa’s backside and hence consider him a demigod. I will not stop kicking your backside until you admit Chamisa is not only a mere mortal but a liar, corrupt, incompetent and utterly useless.
I have taken the precaution of replying to the group and your private number too, just to be certain you get the kicking you rightly deserve! Village idiots like you should have never been given the vote; p it is tantamount to giving a monkey a loaded gun!
The art of propaganda is to brainwash the people so they believe what you tell them and not their own eyes. Zanu PF squandering prodigal sums of money on bribes, self-promoting projects like the recent goat project and propaganda; money that should be spend on the good of Rome.
Zimbabwe is a failed state.By blatantly rigging the 2023 elections Mnangagwa confirmed the country’s status as a pariah state. The country’s economy is in ruins, mismanagement and corruption are off the scale. Basic services such as supply of clean water, education and health care have all but collapsed. Millions of our people are living in abject poverty whilst the filthy rich ruling elite continue to cream off the nation’s wealth to feed their insatiable appetites for leisure and luxury.
The regime’s propaganda maintains the country is on course to become a upper middle income nation by 2030, vision 2030. It is just a mirage!
It is said you can fool some people all the time, can fool others some of the times but what you cannot do is fool everyone all the time.
Everyone can see vision 2030 is a mirage and would have rejected Zanu PF decades ago if the party was not rigging elections. Zanu PF has manage to fool everyone politically these last 44 years by rigging elections; the last 24 years, thanks to MDC/CCC leaders selling out on reforms. But even here, Zanu PF’s luck is running out; the party must know that rigging elections is getting real tough and getting away with it is now near impossible.
SADC Election Observer Mission damning report on Zimbabwe’s 2023 elections was a warning shot to Zanu PF on rigged elections. ANC losing its iron grip on power in SA was the final straw; it is no secret that ANC has propped up vote rigging Zanu PF for decades.
“He deserve another term!” Yeah right!
Mnangagwa rigged 2023 elections, he is an impostor and should not even be in office. He is illegitimate and has dragged this nation deeper and deeper into this economic and political abyss and no amount of propaganda change this reality.
He is desperate to hang on to power because he knows he has a hell lot to answer for once out of state house. His day of reckoning, postponed by hook and by crook for decades now, is finally fast approaching. He will have no where to hide!
Alas! Replacing SUV with military tracks is hardly the answer for Africa's problems!
@ Lee Roy
“This is a fatal assumption bereft of simple logic. The reforms enable SADC to confirm the rigging beyond reasonable down.
Transfer power is a respect issue altogether my brother that's where you miss it.
No reforms can stop a coup, as it stands Zimbabwe is a military dictatorship.”
So MDC/CCC leaders have failed to implement even one token reform in 24 years so that SADC can have the evidence of Zanu PF rigging 2023 elections? Your stupidity never seize to amaze me!
How is it possible that anyone in this the 21 st century can still have the IQ of his Australopithecus africanus ancestor of 3 million years ago. What a throw back!
The most worrying thing is that dimwits like you, in Zimbabwe there are million Africanus in all but name, have a vote. It explains why we are a failed state and, at this rate, doomed to remain a failed state.
Of course, it was foolish to participate in a flawed election knowing doing so would give vote rigging Zanu PF legitimacy and perpetuate the dictatorship. Chamisa had no problem conning you and your mentally challenged fellow travellers to participate in the 2013, 2018 and 2023 elections. Of course, you will participate in flawed 2028 elections, to help “SADC in have the evidence of Zanu PF rigging election” you will argue once again.
Poor, por Zimbabwe. What has she done to deserve such nincompoops for citizens - millions of them too!
Jonathan Moyo getting a lift from a motor cycle!
Jonathan Moyo was booted out of Zanu PF following the infamous 2004 Tsholotsho Zanu PF coup debacle. “It is cold out there!” he said after worming his way back into the party. I wonder what he will say now, after the 7 years and counting sabbatical on the South Pole!
Jonathan Moyo played his part in creating and imposing the corrupt and tyrannical Zanu PF dictatorship in Zimbabwe it is right and proper that he is having a taste of injustice and suffering he helped to create.
Zimbabwe’s most notorious political turn-coat who thought himself a demigod is human after all. Aiva madziva, avamazambuko!
A lesson for all Zanu PF tyrants and apologists and all the up starts; whatever elevated position you occupy today today, tomorrow may not be yours. And so what you do whilst in office may come back to haunt you. Remember that you are mere mortal, fallible like everyone else, and therefore never ever assume the arrogance to think yourself infallible and untouchable!
https://www.youtube.com/watch?v=yjVg4-bJC8c
Professor Jonathan Moyo played a major role in creating the Zanu PF monster we have today. He never ever thought that he would ever fall off his elevated patch. He thought himself an infallible demigod, untouchable and not accountable to mere mortals. The 2017 military coup changed all that!
Professor Moyo was lucky to escape with his life and he has spent the last 7 years holed up in Kenya. We see him grateful to get a lift on motor-cycle deep in the rural back waters - a far cry from the ministerial limo of bygone years. How the high and mighty have fallen! There is an important lesson to be learned here!
No one, no matter smart and powerful a position you hold, should think themselves infallible demigod and ride roughshod over others because when they fall off the patch, as often happen, they will find themselves victims of the monster they created.
@ Chisa
As the truth of the vision 2030 being a mirage begin to dawn on the braindead Zanu PF hardliners they need a scapegoat and sanction is their favourite! They are going to milk it for all they can squeeze out of it regardless how pathetic it all sounds.
They are hoping that SADC,AU and everyone will forget Zanu PF rigged 2023 elections and just focus on sanctions. The demand for free and fair elections is so loud and universal the world is sick and tired of Zanu PF dirty tricks to draw attention away from holding the country’s first ever free, fair and credible elections in 2028.
Prof Moyo helped to create this monster called Zanu PF and now it has turned on him. I would call that reparatory justice. Moyo is getting a taste of his own medicine. One only hopes many other will do so too this side of the grave!
@ Chief Ndiweni
“Uri madhokororo chaiwo iwe Mukori, saka woda kuti munhu asapinda church, unotukira munhu kuti sei akabirwa election than kutuka vakaba vacho, iwe unotopenga chaiko iwe, musoro wako uzere ndove yedhongi chaiyo”
I have never denied that Zanu PF was going to rig the 2023 elections. Chamisa lied that he had plugged all the vote rigging loop holes and thus stop Zanu PF rigging and even evoke the name of God. Zanu PF did rig the 2023 elections as SADC and AU reports confirmed. I are now asking Chamisa, wearing his church regalia, not political party regalia, to admit he lied! Why is that upsetting you?
Could it be that you are one of the millions who were foolish enough to believe the lie and participated in the flawed elections to give Zanu PF legitimacy?
Of course, you were foolish to be so easily conned by Chamisa but is is even more foolish to bury your head in his backside and pretend he did not lie. The very idea of you being conned yet again in 2028 is real and I am determined to kick your backside raw than let you participate in flawed 2028 and give Zanu PF legitimacy! Nincompoops like you deserve to have your backsides kicked!
@ Mura
“His crime is less than that of a whole regime that employs state machinery to suppress people's wishes. He is only an individual who does not have the army, police, intelligence, faz,,etc to support the cause. He did what he could as an individual isolated from any state agency and power. The biggest blame is on u n me who did nothing about anything and everything my brother. Nature is funny- when you point a finger at someone, just see how many fingers point back at you on your clenched hand. Introspection is crucial before you blame. Ask yourself what you could have done to help that you didn't do- it's an excellent starting point. We watched the whole voting process that was supposed to last 12h- from 0700h to 1900h- was stretched to more than 24h. What do you think happened that whole night? Did anyone do anything about it, besides watch?”
This is the kind of foolishness that has allowed upstarts like Chamisa to lie time and again dragging the nation deeper and deeper into the abyss.
Chamisa and his CCC friends were hell bent on participating in flawed elections knowing fully well that Zanu PF was rigging and that participating would give the regime legitimacy. Still they participated because they also knew Zanu PF was offering a few gravy train seat as bait. Chamisa lied about plugging the vote rigging loop holes to con Zimbabweans to participate, his getting the gravy train seats depended on getting people to participate in numbers.
You are just too stupid to comprehend the truth that Chamisa is corrupt, incompetent and conned you. Chamisa has no army, police, etc. So? Is that your feeble excuse why he lied?
@ Richard Mahupete
“Good presentation, Wiri. Gambakwe, the wannabe, should take a leaf from you.
Coming back to the podcast. Personally, I have certain reservations with some of your reasoning.
1. Tsvangirai was the first to announce that he had loose ends tied and that he had the CIO in his camp. This was just before an election.
2. Chamisa is simply regurgitating Tsvangirai's then claims and assertions.
3. Validation of elections in Zimbabwe is not a function of participation by MDC/CCC or their computations.
4. Your take on sanctions is a bit on the naive side. To conveniently claim kuti the only country that applied sanctions on Zim is the US is highly disingenuous. The US, EU/Aus/Canada combined to apply economic sanctions on Zim and financial institutions cooperating with Zim.
NB. This in no way means I am saying kuti corruption has not taken its toll on the country.
5. The sooner you stop obsessing with the Judas Mumba report, the better. Elections in SADC are not decided by Observer missions.
This is the first time in the history of SADC elections wherein a Secretariat forgets its advisory role and attempts to be a decider.”
The question was simple enough: Did Nelson Chamisa lied about plugging all vote rigging loop holes?
The simple and obvious answer is yes, of course he lied. Why the Chamisa Chete Chete simpletons are refusing to admit Chamisa lied is because they know doing so is tantamount to admitting they were foolish to have been so easily conned. My number one concern is that the village idiots will be conned into participating in the 2028 elections and history will once again repeat itself - the idiots will believe another Chamisa lie and participate in another flawed elections to give Zanu PF legitimacy.
You right that Tsvangirai was the first to take these MDC/CCC simpletons down the garden path telling them MDC would win 2013 elections regardless all the evidence Zanu PF was rigging. But Tsvangirai’s lying does not give Chamisa the licence to lie too and, the very fact that the simpletons keep believing these lies only highlights why universal suffrage has been a curse for Zimbabwe.
Giving these village idiots the vote is as irresponsible as giving a monkey a loaded machine gun!
Ever since the 2008 to 2013 GNU Zanu PF has learned that the days of de facto one party state are over, the party has embraced multi-party democracy. The party knows that it will get away with rigged elections as long as opposition parties participate to give the process the appearance of a contest. Zanu PF has seen to it that the opposition win a few gravy train seats to entice them to participate. Of course, the opposition leaders know this is a honey trap and have openly admitted it.
“The (2013) electoral process was so flawed, so illegal, that the only logical step was to withdraw, which would compel SADC to hold Zanu PF to account. But such was the distrust between the MDC-T and MDC-N that neither could withdraw for fear that the other would remain in the elections, winning seats and giving the process credibility,” confessed David Coltart in his Book, The Struggle Continues 50 years of Tyranny in Zimbabwe.
So Dr Nevers Mumba is “Judas” because he said something we already knew - that the elections process was flawed and Chamisa was lying about plugging vote rigging loop holes! No wonder Zimbabwe is a failed state, we really have some shockingly idiotic citizens!
If you know that corruption is the number one cause of Zimbabwe’s economic meltdown and not sanctions then why are you wasting time on a side issue?
@ Pachedu Tofiranyika
"Why would you want me to fight corruption when you couldn’t even appreciate what I have done with sanctions?
Why do anything for people who don’t appreciate?”
So you have been fighting to end sanctions, knowing it is a trivial issue compared to corruption and rigged elections because Zanu PF appreciated you efforts and has been rewarding you. True povo, who are the victims of the corruption and rigged elections, have nothing to reward you. We have established that you are just a mercenary masquerading as a human rights activism.
You are just a Zanu PF apologist and must stop pretending you care about the people of Zimbabwe and about justice. You are nothing more than the modern day Judas Iscariot hunting for 30 pieces of silver!
@ Wilfred
“My humble opinion is that we have put our assumptions, opinions, blame, wishes or what ever but my question is are we able be heard from this platform at the inception of this platform there was talk of approaching vana EU SADC what happened.”
I agree it is disappointing that we have not made any progress on anything. SADC Election Observers condemned 2023 elections as flawed and illegal. Many here do not even know what constitutes free, fair and credible elections. Some want SADC to tell us what to do and when they have done so in the past, we have ignored the advice.
You will never get some people in this group to agree even on something as obvious as Chamisa lied about plugging vote rigging loop holes. Chamisa is an infallible demigod who can do no wrong! There some things worth arguing about that Chamisa is a demigod is an outrage not even worth remarking on!
It is clear there is chaos and confusion within the group as there is at national level. We are doomed to blunder from pillar to post.
Your should say and do as you see fit and forget what the group must do or say.
Start your own party as the alternative to holding Chamisa to account? I told you Chamisa is a public official and per se accountable - that is not negotiable. I know you are a simpleton this issue of public leaders being accountable is all too much for one with the intellect of a slug!
https://www.youtube.com/watch?v=F_8hrpfU5FU
Zimbabwe is a failed state.
By blatantly rigging 2023 elections Mnangagwa confirmed Zimbabwe is a pariah state ruled by corrupt, incompetent and murderous thugs who have to rig elections to stay in power. As long as Zimbabwe remains a pariah state the country's economic decline will continue and thus remain a failed state.
Zanu PF propaganda machine has gone into overdrive with each on the country's ten provinces competing to prove Zimbabwe is on track to become an upper middle income nation, vision 2030. Vision 2030 is a mirage it is nonsensical to prove a mirage is real!
@ Gambiza Ngwenya
“But we hv public figures who hv destroyed the country for ages but yu don't put such effort to show your genuineness ,this exposes yu of who yu are working for.”
So because I have not held all the public figures who have destroyed the country for ages to account, I must not hold Chamisa to account for lying and conning the people into participating in flawed elections to give Zanu PF legitimacy and perpetuate the dictatorship?
How anyone can fail to see the sheer stupidity of that beggars belief!
And all this foolishness in aid of what? You cannot bear to see Chamisa held to account because he is an infallible demigod! He is a not only a mere mortal but one with a proven track record as corrupt and incompetent. No wonder we are a failed state, we really have some of the most foolish citizen on planet earth!
https://www.youtube.com/watch?v=wq8bfuRORVI
Mnangagwa confirms Zanu PF is drip feeding the ZiG to starve-off inflation and IMF praised the regime to the high heavens predicting inflation will fall to 7% this year. What is infuriating here is that the poorest of the poor are the ones being squeezed out of here. The poor need ZiG cash for their day to day economic activities.
Of course, it an outrage that IMF should praise the regime for sacrificing the poor.
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