The Foreign Affairs and International Trade minister SB Moyo in an interview with Deutsche Welle a German public international broadcaster yesterday said the government’s economic recovery measures though painful, were going to bear fruits later on, The Herald reports.
There was hope, and there is still hope because we have to take painful decisions to rectify the economy from where it was. These painful decisions are the ones which make people lose hope, but in reality they are getting things right.
We are doing a lot of other economic reforms which ensure that even the investment community is free to come in with the mantra Zimbabwe is Open for Business. The whole gamut of sanctions has caused serious and unintended consequences.
I have always called it a weapon of mass destruction because Zidera (Zimbabwe Democracy and Economic Recovery Act of the United States), which exits now is an act on Zimbabwe that (says the country) shall not access any external support from the IMF (International Monetary Fund), World Bank or other international institutions and because of that it means therefore the perceived risk for this country whenever there is that hanging aspect of a sanctionmeans its higher.
It deters investors who would want to come into this country despite the fact that Zimbabwe is Open for Business which has been propagated by President Mnangagwa
It is not clear which decisions he was referring to but the government has introduced a cocktail of measures it said would help economic recovery like TSP. Recently the government decimated mobile money transactions and said it was trying to stabilise the foreign currency exchange rate.
More: The Herald