"Lifting Of Sanctions Not A Panacea To Zimbabwe’s Economic Crisis" - OPINION
Shannon Ebrahim, Independent Media’s foreign editor has claimed that the removal of sanctions imposed on Zimbabwe will not improve the economic situation in the Southern African country.
The editor says that it is imperative to establish the type of sanctions which were imposed on the country and the effects they have had on the economy.
For him, sanctions are merely a scapegoat by political elites who failed the economy through years of economic mismanagement, pilfering of state resources, endemic corruption, entrenched state capture, and poor governance. He added:
What Zimbabwe most needs at this juncture to improve its economic outlook is political stability and transparency, an end to the impunity of the security forces for human rights abuses, measures to stamp out corruption at all levels, consistent economic policies, a cash injection of hard currency into the economy, restructured debt with the IFIs, and ultimately debt relief.
The writer admits, however, that the lifting of US sanctions may assist Zimbabwe in attracting some forms of investment, and may make it easier for companies to transfer US dollars to Zimbabwe.
These remarks come when there are divisions in the country over sanctions with the ruling ZANU PF saying sanctions are crippling the economy whilst others are of the view that bad governance collapsed the economy.
More: The Zimbabwean
