The International Monetary Fund (IMF) cautioned Zimbabwe to intensify efforts on economic and political fronts, to come out of its present problems and stave off from accumulating debts. The problems Zimbabwe is upfront with are many and varied including drought, inadequate electricity generation, foreign currency crunch, pangs of the launch of the new currency after years of dollarization and of course, a vaulting inflation.
The public is agitated over these issues, which continue to haunt the country for quite some time. The southern African nation has initiated a number of schemes to stem the rot. But all such measures have failed to bear fruits since the country in the previous years of misrule, nepotism and fiscal profligacy reached a low, from where it is difficult to come out that easily.
President Emmerson Mnangagwa, in the meantime, has to bite the bullet. His political opponents are finding fault with his style of governance. They say political reforms are still a far cry. His assurances to implement political reforms, including amending security and media laws, a pre-condition for building bridges with the West, particularly the US, are still remain to be empty promises. Coupled with economic instability, lack of incentives for the private sector to grow, lethargy of the public utilities, currency impasse etc are igniting anger and frustration of the general public.
The relaunch the Zimbabwean dollar after a decade of dollarization had brought the economy to standstill increasing people’s hardships. Not only that, these measures have been very poorly communicated to the people. But many feel that the currency reform was a step in right direction and it would take some time to bring succour to the people. Against the backdrop of deep contraction of the economy and hyperinflation, which has touched 300 percent in August, Zimbabweans are hoping against hope for a bright day to dawn on them.
