Economy in Crisis
The economy in Zimbabwe is currently at its worst in decades. Since 2009 the country has suffered from extreme hyperinflation. The situation became so bad that Zimbabwe eventually abandoned its own currency. It now uses a combination of dollars, pounds, and African rand, yet there continues to be a shortage of hard currency. Because Zimbabwe is still deeply in debt to the World Bank and the African Development Bank, global financial observers report that it’s unlikely the country will gain new financing in the future.
According to Eyewitness News, “Zimbabwe is battling an economic crisis that includes cash shortages, high unemployment and lack of investment which has caused the cost of imported food to soar.” Basic necessities like gasoline, shelter, water, electricity, education, and the cost of food have sky rocketed. The World Food Program reports this to be an extremely urgent food security issue. They are planning to address the food needs of 1,135,500 people in Zimbabwe in the coming year. Even rural farmers face shortages as food has become too expensive for their means.
Burke, Jason. “Zimbabwe’s economic crisis will deepen without aid, ruling party warns.” The Guardian. 19 Oct. 2018. Web.
AFP. “WFP Preparing to Provide Food Aid to 1.1 Million Zimbabweans.” Eyewitness News. Sept. 2018. Web.
Banner image sourced from https://www.irinnews.org/feature/2017/04/21/resettled-zimbabwe-farmers-left-high-and-dry