'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
Khayelitsha eco hustlers run CT Marathon with trees on their backs

Khayelitsha eco hustlers run CT Marathon with trees on their backs

Khayelitsha green entrepreneur Siyabulela Sokomani has brought his 'moving forest' to Sanlam Cape Town Marathon for a good cause.

'Army should only stay on Cape Flats if police have crime intelligence plan'

'Army should only stay on Cape Flats if police have crime intelligence plan'

If the SANDF deployment is extended on the Cape Flats, it must be done in conjunction with better policing, an analyst explains.

Robert Mugabe's body won't be burried any time soon, family confirms

Robert Mugabe's body won't be burried any time soon, family confirms

Heads of state will bid him farewell at an official funeral service at the National Sports grounds in the capital Harare.

Condolences pour in for deputy minerals minister Bavelile Hlongwa

Condolences pour in for deputy minerals minister Bavelile Hlongwa

The Deputy Minister of Mineral Resources died in a car crash on Friday. The details surrounding the crash remain unclear.

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
Fraudsters are getting professional, scamming consumers with ingenious methods

Fraudsters are getting professional, scamming consumers with ingenious methods

“It makes all of us a target to fraudsters,” warns Manie van Schalkwyk of the South African Fraud Prevention Service.

'We have evidence that the EFF and Julius Malema took bribes for tenders'

'We have evidence that the EFF and Julius Malema took bribes for tenders'

Arabile Gumede interviews Stefaans Brummer, a journalist at the amaBhungane Centre for Investigative Journalism.

Mail & Guardian: Hawks investigating Floyd Shivambu's Range Rover Sport purchase

Mail & Guardian: Hawks investigating Floyd Shivambu's Range Rover Sport purchase

Investigative journalist Thanduxolo Jika gives details of the report he filed on the EFF leader and the connection to VBS.

[WATCH] 'If this world were mine', grocery store impromptu rendition goes viral

[WATCH] 'If this world were mine', grocery store impromptu rendition goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

Call for arrested drug mules to serve time in SA prisons

Call for arrested drug mules to serve time in SA prisons

Locked Up SA's Patricia Gerber wants government to have a prison transfer agreement so families are involved in rehabilitation.

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

Forensic investigator pokes holes in Watson death probe

Forensic investigator pokes holes in Watson death probe

The recent findings of a private pathologist ruled out suicide as the cause of death of the former Bosasa boss.