Tag Archives: business collapse

Zimbabwe Hopes For Recovery Depend On Peace Talks

Zimbabwe once was a fairly prosperous nation until President Robert Mugabe destroyed it by driving out efficient farmers and turning over their land to his henchmen. He stole an election and has brutalized his own people. Zimbabwe now ranks as having the highest inflation rate of any nation in the world –2.2 million percent. In fact, people now exchange $1 billion notes. Businessmen are waiting anxiously for the outcome of talks that begin today between Morgan Tsvangirai, leader of the Movement for Democratic Change(MDC) and Mugabe which hopefully will result in placing Tsvangirai in a key role in government. There is growing belief Mugabe finally agreed to talk because even he knows the entire economy has collapsed.

Political talks will be of no avail unless the business and labor union communities are quickly brought into the dialogue. There is need for immediate action to restore farms to their former owners, to allow business to function without interference from Mugabe’s political cronies, and confidence restored. A Mugabe government will never obtain needed outside financial resources and, most probably, the tired old tyrant has finally succumbed to reality.