Award-winning journalist and filmmaker Hopewell Chin’ono says the galloping inflation Zimbabwe is currently experiencing has been caused by bad Government policies.
According to Zimbabwe Statistics Agency (ZIMSTAT), the year-on-year inflation rate for the month of April 2023 as measured by the all items Consumer Price Index (CPI) was 75.2%.
However, American economist Steve Hanke recently said Zimbabwe’s annual inflation stands at 666%.
Posting on Twitter, Chin’ono said President Emmerson Mnangagwa should address the economic fundamentals that are not sound for the economy to function. He wrote:
What I know is that the inflation that Zimbabwe is experiencing at the moment has been caused by terrible and misguided Government policies.
We predicted that this would happen as far back as 2019, this is not rocket science but just common sense.
Using Government draconian decrees on economics will have only one outcome, EMPTY shelves like in 2007/2008.
President Mnangagwa and his regime must stop the State corruption, stop the looting of public funds and stop the plunder of the country’s natural resources which is happening on their watch!
He should stop the abuse of the central bank by ZANU PF political elites and their surrogates, something which has been ongoing since he took office.
He needs to allow good economic policies to be implemented, and not interfere with the running of the central bank.
He should hire or employ competent people hired on the basis of their competence, and NOT party affiliation or ethnicity!
This is just good old common sense! Is he able to do that?
He has failed to do so every day of his life as President of Zimbabwe since the 2017 coup.
All I can say is that political or presidential decrees don’t work, fix the economic fundamentals first!
Since it is a Sunday, I would say he needs to read Mathew chapter 6 verse 33.
It says; “But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.”
It means if you do your part to make your relationship with God your highest priority, He will do His part to provide for your every need, and that is something we can count on.
In Economics, it means; Implement the fundamentals of economics and you will get results as the economy responds to the fundamentals.
The purpose of work is to increase wealth, and the wealth of a country can only be increased if the leadership of that country understands the covenant of economic fundamentals, and follow them.
The President can shout all he wants from the top of a hill, but if the economic fundamentals are wrong, the economy will not hear, fear or respond to his shouting.
The Herald can write as many propaganda articles as it wants, but the economy will be headed to oblivion regardless.
The inflation this week is at 666%, and the Black Market rate is now at 4 000.
You can’t use button sticks (batons), the police Law and Order section or captured magistrates and jails to force an economy to do as you wish!
More: Pindula News