The economic crisis in Zimbabwe has still continued even after the removal of President Robert Mugabe about a year ago and months since the country’s general elections. Foreign currency shortage has crippled businesses and inflation has taken a giant leap. Shortages of medical supplies, fuel and other essentials are threatening social unrest.
The primary reasons for such deteriorating situations are government mismanagement for decades, mistrust and widespread corruption. Currently the responsibility for it lies in the hands of policymakers who are not in Zimbabwe, but located thousands of miles away.
The new government, which includes technocrats too in some key positions, has declared Zimbabwe open for business. This would prompt promises of Western development assistance, international investment, World Bank credit and access to the IMF.
Mugabe was in power for 35 years and it is alleged he near-ruined economy of the country. His resignation late last year was read out in parliament by the speaker and it was shocking to many as he resisted the pressure of stepping down until then.
His letter read that he has resigned to bring peaceful and smooth transfer of power and this was his voluntary decision.
Following his resignation the opposition parties roared with glee and scenes of joy erupted in the streets. People were seen singing, dancing and waving flags.
Zimbabwe achieved freedom from the British rule in 1980 and since then Mugabe has been at the country’s helm.
In year 2000 the economy of Zimbabwe collapsed and unemployment currently is about 90 percent. The country’s currency has triggered inflation lately and each month the import prices are rising as much as 50 percent.
