Friday, 11 May 2018

How can Zimbabwe, so Rich in Mineral Resources, be so Impoverished?

""Zimbabwe’s economy is characterized by instability and volatility, both of which are hallmarks of excessive government interference and mismanagement. Massive corruption and disastrous economic policies have plunged the country into poverty. An inefficient judicial system and general lack of transparency severely exacerbate business costs and entrepreneurial risk. The government will likely adopt desperate short-term measures to stave off economic collapse, possibly including a unilateral de-dollarization that would reopen the door to hyperinflation, further crippling the private sector and severely undermining macroeconomic stability.""
Source: www.tradingeconomics.com

""Zimbabwe’s economic freedom score is 44.0, making its economy the 174th freest in the 2018 Index. Its overall score has not changed, with significant improvements in scores for the trade freedom and judicial effectiveness indicators exactly offset by a plunge in fiscal health. Zimbabwe is ranked 44th among 47 countries in the Sub-Saharan Africa region, and its overall score is below the regional and world averages.""

Source Of both Quotes:Heritage Foundation

GDP Downturn

The graph above needs further explanation. In 2008 the Military [a de-facto Coup d'etat] over-turned a 75% election win  by the MDC opposition and created a "Government of National Unity" [sic] . In practice this had Tendai Biti from MDC as Minister of Finance - who very rapidly turned the fiscal situation around - by basically curtailing suicidal Government Spending. However, too often the "Office of the President" [Mugabe] would limit or over-rule his sensible actions.

Therefore the growth from 2008-2011 is initiated by MDC's Mr Biti - but by 2012 the old "habits" of profligate patronage and corruption are starting to take effect.

The vote rigging in 2013 made sure the Zanu PF once again took full control. The Graph clearly indicates the folly and general incompetence of their economic policies.

Additionally intimidation, political violence, Human Rights Abuses, Torture and corruption took hold once again - and to this day are continuing, with only the briefest respite when Mugabe was removed by a de-facto Coup d'etat in November 2017.

Free and Fair Elections?

In an attempt to win the 2018 election, Zanu PF and their new imposed "President" Mnangagwa is spending a reported $200m on his campaign with massive posters all over the capital. Also a propaganda "Charm-Offensive" and the slogan "Open for Business" are being widely marketed both domestically and internationally.

Unfortunately there is little evidence of an independent media in Zimbabwe. The only TV Channel is run for the benefit of the regime, and only reports on negaitive aspects of any of the opposition, The same is true of several of the newspapers - particulalry the overtly partisan Herald.

Free and Fair Elections have been promised, but delivery of this promise is very hard to find. The media is still partisan, the Zimbabwe Electoral Comission is still partisan, The Military is still partisan, the Judisiary is still partisan - in fact nearly every organ of Government and Nationalised Industry is partisan. Additionally the 2013 Consitution is being breached by partisan legislation designed to maintain an unfair advantage for the regime.

With Elections scheduled just a few months away Free, Fair and Credible voting is not possible.


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