Zimbabwe would just add to the long list of failed African nations, if not acted upon soon!
With the onset of this millennium, whe
n the world pledged to fast forward development and make it more sustainable, Zimbabwe initiated a backward journey into an era of turmoil, anarchy and something which can be compared to reverse apartheid. An apocalyptic 7,634.8% rate of inflation…that is Zimbabwe’s brief resume for the world. The controversial Land Reform Programme, the prolonged clash with the judiciary and the emergence of irrelevant price & exchange rate control mechanism, has relegated the country to irrelevance. Today the economy is characterized by both high inflation and high unemployment – the perfect recipe to bring down an economy; as a result of which 80% Zimbabweans live below the poverty line and making sure that what was once the strongest economy of Africa, has now been reduced to rubbles.
For Complete IIPM Article, Click on IIPM Article
With the onset of this millennium, whe
n the world pledged to fast forward development and make it more sustainable, Zimbabwe initiated a backward journey into an era of turmoil, anarchy and something which can be compared to reverse apartheid. An apocalyptic 7,634.8% rate of inflation…that is Zimbabwe’s brief resume for the world. The controversial Land Reform Programme, the prolonged clash with the judiciary and the emergence of irrelevant price & exchange rate control mechanism, has relegated the country to irrelevance. Today the economy is characterized by both high inflation and high unemployment – the perfect recipe to bring down an economy; as a result of which 80% Zimbabweans live below the poverty line and making sure that what was once the strongest economy of Africa, has now been reduced to rubbles.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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