The news from Zimbabwe is bad and getting worse. A June 10, 2005 report in the Mail & Guardian (Johannesburg) said that normal consumer transactions in the country had all but collapsed. Basic foodstuffs are no longer available on store shelves. Consumers cope by patronizing a burgeoning black market and pay prices which have become engorged over 100 percent for the basic necessities of life.
Economic collapse is evident elsewhere. The Mail & Guardian reports that the country's manufacturing sector has declined 40 percent. Agriculture is down 50 percent and tourism is down 70 percent
Unemployment has soared to 80 percent.
One economist interviewed for the Guardian story said that there was little chance of a recovery over the next nine months.
Because of the country's mismanagement and corruption, traditional donors have refused to participate in support for the economy. The International Monetary Fund (IMF) has suspended agreements with Zimbabwe. The country...