Our Zimbabwean economy.

Our Zimbabwe is a beautiful country, rich in resources and hardworking people. It is home to the magnificent Victoria Falls , the mighty Zambezi River and Hwange National Park, one of Africa's best safari destinations . But political mismanagement in the past decade has plunged the country into economic catastrophe, turning a once rich country into a desperate one.

 Zimbabwean economic standing has been on the verge with a horrifying meltdown of the "lost decade" 1998-2008. Re-balancing the economy has been no exception till today. The question on everyone's mind is whether Zimbabwe is going to recover and have its own currency.

        (Bearers cheques popular in 2008)

Until early 2009, the RBZ routinely printed out money to fund the budget deficit causing hyper inflation. Dollarisation in early 2009 ended ended hyper inflation below 10% per year but exposed structural weaknesses that continue to inhibit broad based growth.

                                                     (top; USA dollar bottom; bond coins)

The introduction of bond coins in late December has led to skepticism. People are not sure whether the introduction of bond coins means the gradual introduction of Zim's own currency which was abandoned in  2009 in favor of a multi-currency regime dominated by the USA dollar and the SA rand.

We will always stay in hope that our rich Zimbabwe will recover and have its own currency one day.

  www.business.webcrawler.com 

  www.economicdevelopment.org

  www.worldbank.org

  www.africaneconomicoutlook.org