Zimbabwe’s economy is not as strong as it was many years
ago. It has lurched from one crisis to another, without a credible solution in
sight.
Zimbabwe’s biggest problem is around the currency and
runaway inflation. Currency solution after currency solution has failed. It’s
all about credibility and trust, and the simplest solution seems unpalatable to
the authorities. Zimbabwe’s ruling elite should swallow its collective pride
and join the Common Monetary Area. This is the economic reality. And while at it,
the country should also join the Southern African Customs Union. After all,
South Africa is Zimbabwe’s biggest trading partner and, most likely,
remittances from Zimbabweans living and working in South Africa are probably
the biggest external transfers
These two acts would restore credibility and stabilise the
economy. Sure, the country would economically be beholden to South Africa, but
in many ways it is even now, with limited benefits
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