Zimbabwe Elections: Voting for Progress | nsnbc international

Zimbabwe electiaons

President Mugabe and ZANU-PF have a difficult fight ahead of them.  Despite outside factors such as sanctions imposed by the US and UK, many Zimbabweans hold Mugabe and ZANU-PF responsible for the economic difficulties of the recent past including record inflation which led to the collapse of the currency and its abolition in favor of the US dollar.  The African Development Bank’s Economic Outlook for Zimbabwe, published in 2011, notes that, “Inflation is projected to rise to 6.5% in 2012 and 6.7% in 2013.  Inflationary developments in the short to medium term will continue to be influenced by the US dollar/rand exchange rate, inflation developments in South Africa, international oil prices, and local utility charges.”[i]  By adopting the US dollar, Zimbabwe managed to resolve the crippling plague of inflation, though at the cost of any semblance of monetary sovereignty.

via Zimbabwe Elections: Voting for Progress | nsnbc international.

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