ANALYSTS said Zimbabwe’s refusal to devalue its currency will do further damage to the economy and send negative signals to foreign donors. It is ill-advised and will hurt ordinary people plus underming growth. An economist at the Zimbabwe Chamber of Commerce describes the ruling Zanu-PF party’s decision as a disaster, likely to increase the country’s woes. The principal tobacco, tourism and manufacturing sectors not performing while the government is spending well beyond its resources, inflation and interest rates soaring.
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