World Economy

Zimbabweans Want Strong Action

Zimbabweans Want Strong ActionZimbabweans Want Strong Action

Economic policy under the new Zimbabwean President Emmerson Mnangagwa is aimed at restoring business and investor confidence, IOL reported  .However, business executives and experts want stern action and the right signals from Harare as a way of attracting foreign funding. Mnangagwa and his cabinet have pledged to tighten public spending, encourage foreign direct investment and restore confidence in the country as an investment destination. Fighting corruption has also been adopted as a cornerstone of enhancing transparency and righting the economy. Finance Minister Patrick Chinamasa’s 2018 budget statement on Thursday has been a departure from former leader Robert Mugabe’s populist and expedient trajectory, say analysts, but unless the policy measures are rectified, Zimbabwe’s economic headaches might not go away. There has been talk in Zanu-PF corridors that the Zimbabwean dollar might be reintroduced, but experts are cautioning against this even though Chinamasa has tabled measures to boost the financial and banking sector. They would be premised on usage of mobile and plastic money which would be spread to rural areas.


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