“ZANU PF Party Flourishes Under Chaotic Conditions,” – Economist

Jameson Dapi an economist and Zimbabwe Independent columnist has claimed that the ruling ZANU PF has no political will to resolve the economic and humanitarian crisis in the country.

Dapi said it is apparent that the adoption of the United States dollar is the panacea to the country’s currency crisis adding that redollarisation was inevitable. He said:

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AT the rate at which the Zimbabwean dollar (Zimdollar) is losing its intrinsic value, it may just be a matter of time before the country re-dollarises, officially or unofficially.

Those pushing for dollarisation are arguing that its adoption would stabilise the country’s tottering economy and create room for our quarrelling politicians to put their houses in order.

What they, however, seem to forget is that our politicians, especially those in the governing Zanu PF party, actually flourish under chaotic conditions, which favour the ruling elites who thrive on arbitrage opportunities that become plentiful whenever our markets fail.

The Southern African country’s currency woes have lingered since 2008 when its hyperinflation reached a record high 231 million percent.

The skyrocketing inflation forced authorities to take a cocktail of measures including the introduction of the multicurrency system in 2009 that would be ditched a decade later.

The multicurrency system stabilised the economy and some growth was registered during the period.

More: Zimbabwe Independent

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“ZANU PF Party Flourishes Under Chaotic Conditions,” – Economist