Paddington Masamha: The paradox of Zimbabwe is open for business – Part 2

Paddington Masamha: The paradox of Zimbabwe is open for business – Part 2 1

By Paddington Masamha The previous article focused on heralding the misalignment between the ‘Zimbabwe is Open for Business’ pitch against the widely used international proxies for gauging national market openness. Paddington Masamha Using statistical evidence from Zimbabwean international ratings with regards to ease of doing business, economic freedom, human rights, corruption and international competitiveness benchmarks; Zimbabwe cannot be categorized as a nation open for business. The writer however strongly applauds the general change in the international tone and efforts for international re-engagement. Related Articles Over and above the micro-level business challenges,…

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Paddington Masamha: The paradox of ‘Zimbabwe is Open for Business’ (Part 1)

Paddington Masamha: The paradox of ‘Zimbabwe is Open for Business’ (Part 1) 2

By Paddington Masamha The Zimbabwean economic and political situation has moved to another level. From the pre-election period, twin catch phrases such as ‘New Dispensation’ and ‘Zimbabwe is Open for Business’ became the twin national buzzwords. Zimbabwean Finance Minister Mthuli Ncube (File: AFP) The post-election phase incubated a new fiscal exhortation dubbed, ‘Austerity for Prosperity.’ Undoubtedly, the tripartite verbal encouragements are a welcome development by virtue of being positive political and economic aspirations. However, this opinion piece endeavours to delineate between the economic realities on the ground vis-a-viz the promised economic…

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Paddington Masamha: Bond note value destruction and price erraticism in Zimbabwe – Part 2

Paddington Masamha: Bond note value destruction and price erraticism in Zimbabwe – Part 2 3

By Paddington Masamha When Zimbabwe adopted the multi-currency system, any currency from the basket of currencies was accepted as legal tender within the financial system. When the liquidity crisis supervened, the relevant ministries introduced bond coins and later on bond notes on a 1:1 peg. Reserve Bank of Zimbabwe Governor John Mangudya presents his Monetary Policy Statement, while Finance and Economic Development Minister Professor Mthuli Ncube and Permanent Secretary George Tongesayi Guvamatanga look on at the RBZ in Harare. —(Picture by Tawanda Mudimu) The Reserve Bank of Zimbabwe (R.B.Z.)’s 4…

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Paddington Masamha: Bond note value destruction and price erraticism in #Zimbabwe – Part 1

Paddington Masamha: Bond note value destruction and price erraticism in #Zimbabwe – Part 1 4

By Paddington Masamha The Zimbabwean economy is encumbered with the financial whirlwinds of value destruction and price erraticism. The economic dashboard is signaling a tumultuous and turbulent economic environment for the largely poor economic inhabitants. Burdened with varying economic perplexities; strikes, public protests and demonstrations have become the new norm. A man wearing a hat decorated with worthless note bearers’ cheques during a protest against government plans to introduce bond notes — a local token currency equivalent to the US dollar, and unemployment on August 3, 2016 in Harare. (ZINYANGE…

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