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Zimbabwe Is In The Grips Of A Death Spiral - Steve Hanke

5 years agoSun, 22 Sep 2019 22:58:15 GMT
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Zimbabwe Is In The Grips Of A Death Spiral - Steve Hanke

Renowned economist, Steve Hanke yesterday said Zimbabwe was of the brink of a death spiral. Using microblogging site Twitter, Professor Hanke quoted Mthuli Ncube’s Tweet that said the exchange rate of the Zimbabwe Dollar to United States Dollar is way undervalued. Hanke then said Mthuli Ncube was delusional: 

#Zimbabwe‘s Finance Minister Prof. @MthuliNcube is totally delusional. His calculation of the real exchange rate is utter rubbish. Clear evidence that Zimbabwe is in the grips of a death spiral.

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Mthuli earlier in the day yesterday had given a theoretical explanation of the exchange rate in a tweet a move that was met by sour responses from some Zimbabweans.

Hanke’s comments on Zimbabwe’s finance minister’s utterances came a few days after the country saw a surge in black-market exchange rates a move which prompted the RBZ to swoop in swiftly and freeze accounts of companies they said were responsible for the exchange rate running away. 

Source Twitter.

 

 

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