On November 11th 1965 the Union Jack came down in Harare Rhodesia one of the saddest tales of decolonization in Africa. Africa’s breadbasket and most thriving nation disintegrated under the rule of Mugabe. Famine, epidemic, and the systematic government seizure and destruction of productive farms led to the chaos that reigns today. The apathy and disinterest of the Congressional Black caucus and prominent Americans proved that African Black lives don’t matter. It is a tragedy and failure of monumental proportions…..rsk
Zimbabwe, one of Africa’s most resource-rich nations, suffered a steep economic decline under the decadeslong rule of Robert Mugabe, and his successor will face an arduous task in reviving it.
Unlike most other sub-Saharan Africans, Zimbabweans are considerably poorer today than they were some three decades ago, according to the World Bank and other agencies, with fewer people employed and more people going hungry.
Once considered Africa’s breadbasket for its productive agricultural sector, Zimbabwe is now the 22nd poorest nation in the world, according to International Monetary Fund data. Millions of its citizens have emigrated in search of work after a cycle of crises stoked an inflation rate that peaked in 2008 at 79.6 billion percent.
The country’s economy is again on a precipice. With the budget deficit ballooning to 10% of gross domestic product, U.S. dollars—Zimbabwe’s effective currency—are in such scarce circulation that people have begun sleeping outside banks.
“Macroeconomic stability is threatened by high government spending, the foreign-exchange regime is untenable, and the pace of reform inadequate,” said Gene Leon, the IMF’s Zimbabwe mission chief.
The country’s stubborn state of economic emergency marks a spectacular decline from when Robert Mugabe took its helm in 1980, ending white-minority rule after years of armed struggle amid widespread jubilation. His first 15 years in power were broadly reformist, characterized by consensus building and large investments in education and infrastructure. In those years the economy continued to expand.