Former Finance Minister Tendai Biti has painted a bleak picture of Zimbabwe’s immediate economic prospects, saying citizens should brace for a meltdown worse than 2008.
Biti said the loss of market confidence means that no-one is willing to hold onto the Zimbabwe dollar resulting in an oversupply of the local currency and this has been pushing the rate up. Said Biti:
Thanks to fascism and corruption whatever market confidence there was has completely evaporated. The parallel market rate veers very closely to 100.
No one is willing to hold on to the Zimbabwe dollar, so oversupply of same is pushing the rate up. RBZ control measures have exacerbated crises.
The regime has lost the confidence and control of the market and indeed the people. Huge corporations scaling down or shutting down completely.
Rio Tinto has closed due to the environment including the unlawful export surrender requirements. Massive capital flight and haemorrhage.
It is Armageddon. A total meltdown worse than 2008 that will see a growth rate of -25% in 2020. An implosion is therefore inevitable as all stakeholders have come to the brutal conclusion that without legitimacy Mnangagwa lacks the desire, the competence to reverse the disaster.
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Prophet Passion Java buys wife a 340K Lamborghini Urus 2020 custom made as a birthday gift: Video
So yesterday was Prophet Passion Java’s wife’s birthday. Lily Java turned 30 yesterday and we put an article about that. Below is a little catch-up…
The beautiful and humble soul has turned 30 years today and we are so happy to celebrate with her. She is also happy about her unborn baby which they are…full details
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