The tough economic situation poses risk of civil uprising
ECONOMISTS and political analysts have warned that Zimbabwe’s prevailing economic challenges pose a serious political risk and a possibility of civil uprising as even the recently introduced local currency appears to have failed to inspire confidence and hope.
“For this year, Zimbabwe is the worst performing economy in sub-Saharan Africa and this puts us in a difficult situation in terms of unlocking foreign direct investment and when you are the worst it also creates a heightened risk of political instability,” economist Prosper Chitambara said, while speaking on the sidelines of the Employers’ Confederation of Zimbabwe Collective Bargaining Summit in Mutare.
“We have a highly toxic political environment which is a self-imposed sanction on its own. So as a country we really have to tread carefully or end up in a civil uprising.”
Chitambara further highlighted that there was also a need to separate parastatals from political influence.
“Government has not made a lot of progress in implementing key institutional reforms to push for political personal gain. So there is need for restructuring parastatals which does not necessarily mean privatisation. There is a need to wean off parastatals from political influence and the problem is in Zimbabwe we have allowed political expediency to override economic progress,” Chitambara added.
Political analyst Ibbo Mandaza said there was an urgent need to restore the economic challenges facing the country to avoid further disaster. However, he also said he could not see the current government living up to the task.
“Zimbabwe is in a difficult situation, there is need for economic changes for there to be economic recovery but l do not think that this current government can fix this economy,” emphasised Mandaza.
The IMF recently expressed concern over the snail’s pace at which the government was implementing reforms in a bid to have the country’s debt restructured.
According to the World Bank Global Prospects Report for 2019 and the International Monetary Fund’s World Economic Outlook report for October 2019, Zimbabwe was among four countries considered at high risk of political instability.
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