Zimbabweans go to the polls on Saturday hoping for an end to a chronic economic crisis that has condemned millions to grinding poverty and prompted the exodus of up to a third of the population. The joint presidential, legislative and local council polls come at a time when the country’s inflation rate has breached the 100Â 000% mark.
A new equity law passed by President Robert Mugabe to ensure the population gets a majority stake in public-owned firms will plunge Zimbabwe into deeper economic woes, analysts predicted on Monday. "It will entail the destruction of the economy," Harare-based economist Godfrey Kanyenze said.
Simba Makoni’s decision to enter the presidential race is a ploy by former colonial power Britain to divide Zimbabweans, a state-controlled newspaper reported President Robert Mugabe as saying on Wednesday. Mugabe told ruling Zanu-PF supporters at a rally that voters have to ”bury British regime-change schemes”, the Herald reported.
Reviving Zimbabwe’s moribund economy would require inflation-battered citizens to swallow the bitter pill of reduced state spending and higher interest rates to attract foreign cash, analysts say. The ousting of veteran President Robert Mugabe is essential to pave the way for reforms to put the country back on track, they believe.
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/ 13 January 2008
Kennedy Tsambo’s faith in Zimbabwe’s banking system finally hit breaking point over Christmas when he spent an ultimately fruitless three days queuing to withdraw cash in order to buy a bus fare home. ”This was not a donation that I was queuing for, it’s my own money which I should be able to withdraw as and when I like,” said the 37-year-old.