'The economic meltdown in Zimbabwe lies with the Mugabe administration'

On January 12, the Zimbabwean president, Emmerson Mnangagwa announced a fuel price hike of over 200% to $3.31 (R45,82) per litre — making the country’s petrol price the highest in the world.

Civilians clashed with police in the capital city of Harare where the Zimbabwe human rights NGO forum says it's recorded 844 human rights violations, including at least 12 deaths.

The Zimbabwe Human Rights Commission has weighed in on the social unrest in the country calling on the government to convene a national dialogue to bring about stability.

The Zimbabwean economy cannot recover in a short term, and the government is fully aware of that. This is the reason why the Zimbabwean government has been desperately seeking infusional cash into the economy to try and stop the situation from developing, and this seems, they have failed in those efforts that resulted in the current situation in the country.

Derek Matyzakn - Senior Researcher with the Institute for Security Studies

The government and the economist are fully aware of the economic meltdown. The reason lies with the Mugabe administration and was exacerbated under the Mnangagwa administration. The government has been running on national budget deficit since 2013, they funded that budget deficit through treasury bills and when those treasury bills came into maturity, the government created money out of nothing.

Derek Matyzakn - Senior Researcher with the Institute for Security Studies

We saw reports of Zimbabwean residents crossing the boarder coming to South Africa to buy fuel and take it back to Zimbabwe.

Click below to listen to the full interview:


This article first appeared on CapeTalk : 'The economic meltdown in Zimbabwe lies with the Mugabe administration'


Recommended

by NEWSROOM AI
Read More
Cape Town 'leading' growth in Muslim tourism market

Cape Town 'leading' growth in Muslim tourism market

CrescentRating CEO Fazal Bahardeen discusses the needs of Muslim tourists visiting South Africa.

All systems go for final matric exams, but is your child ready?

All systems go for final matric exams, but is your child ready?

The Independent Institute of Education's Nola Payne shares useful tips on exam preparation for both candidates and their parents.

#NotHopeless: Changing attitudes towards the homeless

#NotHopeless: Changing attitudes towards the homeless

LeadSA: Zulfah Boyce relates her journey with U-Turn, which supports the homeless with rehabilitation and skills training.

Zuma trial: 'We are dealing with the godfather of South African politics'

Zuma trial: 'We are dealing with the godfather of South African politics'

Analyst Xolani Dube says upcoming trial not so much about the individual, as the organisation which allowed him so much power.

Right2Know Campaign pickets outside Zimbabwe's Pretoria embassy

Right2Know Campaign pickets outside Zimbabwe's Pretoria embassy

Violent protests erupted in Zimbabwe on Monday after President Emmerson Mnangagwa announced a fuel price hike.

Should Zimbabwe officially join South Africa in a monetary union?

Should Zimbabwe officially join South Africa in a monetary union?

What will happen to the rand if it does? Bruce Whitfield interviews Tim Nhamo, a currency specialist at Ironhead Trading.

Popular articles
'We discuss stocks and options with our children at the dinner table'

'We discuss stocks and options with our children at the dinner table'

Bruce Whitfield interviews Basetsana Kumalo about her attitude to money (hopes and fears, successes and failures, etc.).

'Had abuser been a male teacher, we would have had a crazy outcry from society'

'Had abuser been a male teacher, we would have had a crazy outcry from society'

Pundits discuss the sexual misconduct allegations at Bishops Diocesan College in Cape Town.

[WATCH] Boy explaining what he heard when parents had sex goes viral

[WATCH] Boy explaining what he heard when parents had sex goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] 8-year-old's rant on bias of gendered clothing has social media talking

[WATCH] 8-year-old's rant on bias of gendered clothing has social media talking

Khabazela shares tweets and Facebook posts that have gone viral.

It's VW, but not as you know it - Why did Volkswagen change its logo?

It's VW, but not as you know it - Why did Volkswagen change its logo?

John Maytham asks what's behind Volkswagen's new-look logo...

5 retirement saving tips for those who left it late

5 retirement saving tips for those who left it late

It’s better to start late than never! The Money Show’s Bruce Whitfield interviews Jeanette Marais.

[WATCH] Woman faints after hairdresser cuts 12-inch hair without telling her

[WATCH] Woman faints after hairdresser cuts 12-inch hair without telling her

Khabazela shares tweets and Facebook posts that have gone viral.