Zimbabwe is headed for a health and economic catastrophe from the coronavirus pandemic because its debt arrears mean it cannot access foreign lenders, the finance minister has warned in a letter to the International Monetary Fund that was never intended to be seen by the public.
It was sent to the IMF and copied to the World Bank, African Development Bank, European Investment Bank and the chair of the Paris Club of sovereign creditors. That has led the government to resort to domestic borrowing and money-printing to finance the budget deficit, pushing inflation to 676.39 percent in March year-on-year, one of the highest in the world.
The president last week promised a $720m stimulus package for distressed companies, but did not say where the money would come from.
But according to the BLF/RET and Extreme Flip Flopers, Mogabe and the ZanuPF is the best thing that ever happened to Zimbabwe.
AletStar South Africa not Far behind!
GUNFRIENDLY_SA Again , don't warry they have the land they are oky
I’m absolutely torn on Zim. Such a beautiful country with a lot of amazing people but they’re in a hole they dug for themselves. South Africans must learn from them so that we understand what poor economic policies bring.
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