Zimbabwe – economy suffers as stocks fall and investors keep away

Africa - News and Analysis

IPS

Zimbabwe Sails Close to Economic Rocks

By Jeffrey Moyo
President Mugabe’s policies have been a major blow to agriculture, which was the bedrock of the economy. Credit: Jeffrey Moyo/IPS.President Mugabe’s policies have been a major blow to agriculture, which was the bedrock of the economy. Credit: Jeffrey Moyo/IPS.

HARARE, Aug 28 2013 (IPS) – For President Robert Mugabe to defeat the opposition in the Jul. 31 election by hook or by crook may have been a walk in the park, but beating the economic crisis will be another matter. The stock market fell 11 percent the day he was sworn in, the biggest fall in a day since 2009.

Fears are rising that the policies of the ruling Zimbabwe African National Union-Patriotic Front (ZANU-PF) will further scare away foreign investors.

“Zanu-PF’s current policy mix is in conflict with the needs of investors, and at present Zimbabwe is the least attractive investment destination worldwide,” John Robertson, director of the Robertson Economic Information Services told IPS.

“Any proposition that an…

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