Zimbabwe’s financial crises worsens, inflation on the rise again as the country reaches its largest political crises since independence.
Zimbabwe’s economic crises can be traced back to 1980 with the signing of the Lancaster House Agreement. The programmes intent was to alter the ethnic balance of land ownership in Zimbabwe.
The inflationary crises began shortly after the confiscation of private farms from land owners throughout the late 1990’s , towards the end of Zimbabwean involvement in the Second Congo War.
During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe’s inflation rates because the government stopped filing official inflation statistics.
However inflation reached a peak of 79.6 billion percent at one point in mid-November 2008.
Zimbabwe’s government was forced to abolish the country’s currency in 2009 due to extreme hyperinflation, and introduced the US dollar as a more stable foreign currency for the country’s economy.
With a weakening economy, many Zimbabweans have started warming to the idea of the military’s move to take control of Zimbabwe from President Robert Mugabe.
“The military has done a good thing,” says one bookseller. “They will ensure we get a transitional government.”
He and many other Zimbabweans are convinced that Mr Mugabe’s 37-year rule is coming to an end.
There is a growing loss of collective enthusiasm for Zimbabwe’s government, many Zimbabweans are hoping for change in leadership.
At the market, traders hope this means their businesses may pick up. In today’s present economy shop owners constantly watch shoppers walk past their stores.
One shop-owner states, “You see, people don’t want to spend money on thing like these; the economy is doing badly.”
The president still commands a lot of respect as an independence icon. The same respect does not seem to be extended to his wife, Grace, who was thought to be his preferred successor.
Her openly extravagant lifestyle has been widely criticised by all Zimbabweans, as many feel it is very unprofessional especially during the country’s current circumstances.
Whatever the current situation, many Zimbabweans still insist that change is coming in one way or another, in whatever form.