Tobacco.org

Zimbabwe Rushing Towards Total Economic Collapse, Warns IMF 

The International Monetary Fund (IMF)'s top expert on Zimbabwe says the country is on the brink of an economic crisis that will make the current hardships seem like child's play. . .

The Zanu PF government is the culprit for creating the three-headed monster of declining production in all sectors, artificially low interest rates, and a fictitious fixed foreign exchange rate, Johnson said. Especially with the tobacco selling season over, Zimbabweans are likely to continue to scramble to buy the increasingly scarce foreign currency at any price. With interest rates being held at absurdly low rates, there is no incentive for anyone to hold onto Zimbabwean dollars any longer than they have to.

Jump to full article »