IMF SMP – an abortive entry point for full support of the regime
The proposed IMF Staff Monitored Program is an entry point for full support of the regime and it ignores the factors arresting the Zimbabwean economy.
Zimbabwe has had a stolen election; it was disputed by most players including the biggest political party, the MDC. More importantly, the election was condemned by every credible local and international observer mission.
The IRI/NDI observer mission found the election to have shortcomings “giving rise to deep concerns that the process has not made the mark.”
The EU observer mission referred to the results of the election to have contained many anomalies and inaccuracies.
On the other hand the Common Wealth Group found the public media to have been biased towards Zanu PF, the security forces to have acted on behalf of Emmerson Mnangagwa and that incumbency privileges tilted the playing field in favor of the governing party. As such, the mission concluded that, “we are unable to endorse all aspects of the process as credible, inclusive and peaceful.”
Ever since the political situation has deteriorated, violence broke out on the 1st of August, the Zimbabwe National Army opened fire on unarmed civilians indiscriminately and at least 7 people lost their lives, many others were injured.
In January 2019, a reckless 147 percent fuel increase announcement triggered a nationwide stay away called by the biggest labour movement- the Zimbabwe Congress of Trade Unions.
In response to the Stay Away, the government deployed soldiers especially in high density suburbs who maimed and killed civilians indiscriminately; they committed other heinous crimes like rape, torture, abductions and robbery.
The fact of the matter is that the authority of Zanu PF to govern is not based on consent from the masses, their stay in power is now solely based on coercion and attrition.
A total breakdown of the social contract is without doubt a huge factor on the economy. Those in power are answerable to themselves, they have no concern of accountability, they pursue a narrow agenda of power retention and self-aggrandizement.
The economy is failing, despite initially predicting that the Zimbabwe economy will grow, even by IMF figures, the economy will shrink by up to 5.2 per cent.
The budget deficit continues to widen by unexplained holes.
Continued next page