Zimbabwe’s Economic Crisis Poses Existential Threat to the Nation, Says Former Cabinet Minister
By Staff Reporter
Self-exiled former Cabinet Minister Professor Jonathan Moyo has sounded the alarm over the country’s escalating economic crisis.
Posting on twitter Moyo argues that the country’s economy has reached a critical juncture where traditional fiscal and monetary policies are proving ineffective, and the situation now poses an existential threat to the Republic itself.
“When the state of the economy screeches and becomes unresponsive to any policy stimuli, with prices and exchange rates continuing to uncontrollably spike precipitously; screaming and defying even the market laws of supply and demand; and when this threatens everyone, particularly the lives and livelihoods of the masses, the peasants and the vendors; then you don’t have an economic or political crisis; no, you have an existential threat whose control is now beyond fiscal and monetary authorities; a threat which specifically endangers the survival of the Republic itself,” said Prof. Moyo
Zimbabwe has been grappling with skyrocketing inflation and plunging forex exchange rates for an extended period, severely impacting the lives and well-being of its citizens.
Despite efforts by fiscal and monetary authorities to stabilize the economy, the situation continues to worsen, with prices spiraling out of control and the local currency losing its value rapidly.
