Zimbabwe Needs Engagement Not Sanctions
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On the Measurement of Zimbabwe's Hyperinflation
18485_CATO-R2(pps.):Layout 1 8/7/09 3:55 PM Page 353 On the Measurement of Zimbabwe’s Hyperinflation Steve H. Hanke and Alex K. F. Kwok Zimbabwe experienced the first hyperinflation of the 21st centu- ry.1 The government terminated the reporting of official inflation sta- tistics, however, prior to the final explosive months of Zimbabwe’s hyperinflation. We demonstrate that standard economic theory can be applied to overcome this apparent insurmountable data problem. In consequence, we are able to produce the only reliable record of the second highest inflation in world history. The Rogues’ Gallery Hyperinflations have never occurred when a commodity served as money or when paper money was convertible into a commodity. The curse of hyperinflation has only reared its ugly head when the supply of money had no natural constraints and was governed by a discre- tionary paper money standard. The first hyperinflation was recorded during the French Revolution, when the monthly inflation rate peaked at 143 percent in December 1795 (Bernholz 2003: 67). More than a century elapsed before another hyperinflation occurred. Not coincidentally, the inter- Cato Journal, Vol. 29, No. 2 (Spring/Summer 2009). Copyright © Cato Institute. All rights reserved. Steve H. Hanke is a Professor of Applied Economics at The Johns Hopkins University and a Senior Fellow at the Cato Institute. Alex K. F. Kwok is a Research Associate at the Institute for Applied Economics and the Study of Business Enterprise at The Johns Hopkins University. 1In this article, we adopt Phillip Cagan’s (1956) definition of hyperinflation: a price level increase of at least 50 percent per month. -
Zimbabwe After Hyperinflation: in Dollars They Trust | the Economist
Zimbabwe after hyperinflation: In dollars they trust | The Economist http://www.economist.com/news/finance-and-economics/21576665-grub... Zimbabwe after hyperinflation Grubby greenbacks, dear credit, full shops and empty factories Apr 27th 2013 | HARARE | From the print edition THE OK Mart store in Braeside, a suburb of Harare, is doing a brisk business on a sunny Saturday morning. The store, owned by OK Zimbabwe, a retail chain, is the country’s largest. It stocks as wide a range of groceries and household Small change, old and new goods as any large supermarket in America or Europe. Most are imports. For those who find the branded goods a little pricey, OK Zimbabwe offers its own-label Top Notch range of electrical goods made in China. The industrial district farther south of the city centre looks rather less prosperous. Food manufacturers and textile firms have down-at-heel outposts here. Half a dozen oilseed silos lie empty. Only a few local manufacturers are still spry enough to get their products into OK stores. One is Delta, a brewer that also bottles Coca-Cola. Another is BAT Zimbabwe, whose cigarette brands include Newbury and Madison. This lopsided economy is a legacy of the collapse of Zimbabwe’s currency. Inflation reached an absurd 231,000,000% in the summer of 2008. Output measured in dollars had halved in barely a decade. A hundred-trillion-dollar note was made ready for circulation, but no sane tradesman would accept local banknotes. A ban on foreign-currency trading was lifted in January 2009. By then the American dollar had become Zimbabwe’s main currency, a position it still holds today. -
On the Measurement of Zimbabwe's Hyperinflation
18485_CATO-R2(pps.):Layout 1 8/7/09 3:55 PM Page 353 On the Measurement of Zimbabwe’s Hyperinflation Steve H. Hanke and Alex K. F. Kwok Zimbabwe experienced the first hyperinflation of the 21st centu - ry. 1 The government terminated the reporting of official inflation sta - tistics, however, prior to the final explosive months of Zimbabwe’s hyperinflation. We demonstrate that standard economic theory can be applied to overcome this apparent insurmountable data problem. In consequence, we are able to produce the only reliable record of the second highest inflation in world history. The Rogues’ Gallery Hyperinflations have never occurred when a commodity served as money or when paper money was convertible into a commodity. The curse of hyperinflation has only reared its ugly head when the supply of money had no natural constraints and was governed by a discre - tionary paper money standard. The first hyperinflation was recorded during the French Revolution, when the monthly inflation rate peaked at 143 percent in December 1795 (Bernholz 2003: 67). More than a century elapsed before another hyperinflation occurred. Not coincidentally, the inter- Cato Journal, Vol. 29, No. 2 (Spring/Summer 2009). Copyright © Cato Institute. All rights reserved. Steve H. Hanke is a Professor of Applied Economics at The Johns Hopkins University and a Senior Fellow at the Cato Institute. Alex K. F. Kwok is a Research Associate at the Institute for Applied Economics and the Study of Business Enterprise at The Johns Hopkins University. 1In this article, we adopt Phillip Cagan’s (1956) definition of hyperinflation: a price level increase of at least 50 percent per month. -
The Politics of Writing 'Democratic' Narratives in Zimbabwe
Different narration, same history: The politics of writing ‘democratic’ narratives in Zimbabwe Walter Kudzai Barure & Irikidzayi Manase Different narration, same history: The politics of writing ‘democratic’ narratives in Zimbabwe Over the past five decades, Zimbabwe’s political trajectories were characterised by a historiographic revision and deconstruction that revealed varying ideological perceptions and positions of political actors. This article reconsiders the current shifts in the Zimbabwean historiography and focuses on the politics of positioning the self in the national narrative. The article analyses three Zimbabwean political autobiographies written by political actors from the Movement for Democratic Change (MDC), particularly Michael Auret’s From Liberator to Dictator: An Insider’s Account of Robert Mugabe’s Descent into Tyranny (2009), Morgan Tsvangirai’s At the Deep End (2011), and David Coltart’s The Struggle Continues: 50 Years of Tyranny in Zimbabwe (2016). It also discusses how writing in Zimbabwe is a contested terrain that is bifurcated between oppositional and dominant imaginaries of politics, the revolutionary tradition, and past performances of power. Keywords: history, narratives, oppositional and dominant imaginaries, political autobiographies, Zimbabwe. Introduction This article considers how oppositional narratives answer back to patriotic narratives’ denigration of opposition and civic discourses, and their exclusion of the citizenship of minorities such as white Zimbabweans. Zimbabwe- an letters have witnessed the rise of a body of writings, produced by the opposition Movement for Democratic Change (MDC) and other political and human rights actors, termed ‘democratic’ narratives, which contest patri- otic narratives that were constructed using a singular version of history (see Ranger who defines patriotic history as a monolithic version of history that supports the performance of power by ZANU-PF political actors). -
JOURNAL of AFRICAN ELECTIONS Vol 4 No 2 Oct 2005 VOLUME 4 NO 2 1
JOURNAL OF AFRICAN ELECTIONS JOURNAL OF JOURNAL OF AFRICAN ELECTIONS Special Issue on Zimbabwe’s 2005 General Election Vol 4 No 2 Oct 2005 Vol Volume 4 Number 2 October 2005 VOLUME 4 NO 2 1 Journal of African Elections Special Issue on Zimbabwe’s 2005 General Election ARTICLES BY Peter Vale Norman Mlambo Sue Mbaya Lloyd M Sachikonye Choice Ndoro Bertha Chiroro Martin R Rupiya Sehlare Makgelaneng Volume 4 Number 2 October 2005 2 JOURNAL OF AFRICAN ELECTIONS Published by EISA 14 Park Rd, Richmond Johannesburg South Africa P O Box 740 Auckland Park 2006 South Africa Tel: +27(0)11 482 5495 Fax: +27(0)11 482 6163 e-mail: [email protected] © EISA 2005 ISSN: 1609-4700 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the written permission of the publisher. Copy editor: Pat Tucker Printed by: Global Print, Johannesburg Cover photograph: Reproduced with the permission of the HAMILL GALLERY OF AFRICAN ART, BOSTON, MA, USA www.eisa.org.za VOLUME 4 NO 2 3 EDITORS Denis Kadima, EISA, Johannesburg Khabele Matlosa, EISA, Johannesburg EDITORIAL BOARD Tessy Bakary, Office of the Prime Minister, Abidjan, Côte d’Ivoire David Caroll, Democracy Program, The Carter Center, Atlanta Luis de Brito, EISA Country Office, Maputo Jørgen Elklit, Department of Political Science, University of Aarhus, Denmark Amanda Gouws, Department of Political Science, University of Stellenbosch Abdalla Hamdok, International -
Zimbabwe Crisis Reports Issue 16
ZIMBABWE CRISIS REPORTS Issue 16 ■ October 2007 Fresh insights into the Zimbabwean situation CENTRAL BANKER DISSENTS OVER NATIONALISATION The ZANU-PF administration presses ahead with a plan to take a controlling share in foreign-owned businesses, despite warnings about the consequences. By Mike Nyoni in Harare The Zimbabwean authorities are pressing ahead with a nationalisation scheme despite warnings from the country’s central banker that the economic effects will be ruinous. The dispute highlights the schism Lazele Credit: between politicians who place Main branch of Standard Chartered Bank in Harare. Picture taken October 17. ideological policies above pragmatism, and the technocrats in the administration. Zimbabweans. After the upper Mangwana likened the planned chamber, the Senate, passed the law takeover of foreign banks, mining and On September 26, the lower house of on October 2, only President Robert manufacturing firms to the parliament passed the Indigenisation Mugabe’s assent is required for it to government’s seizure of commercial and Empowerment Bill, which will enter into force. farms which started in 2000 — a move compel foreign-owned firms, including which critics say has been mining companies and banks, to cede Defending the bill in the lower counterproductive, destroying farming 51 per cent of their shares to black chamber, Indigenisation Minister Paul and ultimately the wider economy. NEWS IN BRIEF ■ Zimbabawe’s main opposition lobbying for a new constitution. At say Germany is opposed to the idea party, the Movement for Democratic least 20 students were arrested and while Nordic states agree with Change, said on October 15 that others were injured after being Brown. -
Money Demand and Seignorage Maximization Before the End of the Zimbabwean Dollar
Money Demand and Seignorage Maximization before the End of the Zimbabwean Dollar Stephen Matteo Miller and Thandinkosi Ndhlela MERCATUS WORKING PAPER All studies in the Mercatus Working Paper series have followed a rigorous process of academic evaluation, including (except where otherwise noted) at least one double-blind peer review. Working Papers present an author’s provisional findings, which, upon further consideration and revision, are likely to be republished in an academic journal. The opinions expressed in Mercatus Working Papers are the authors’ and do not represent official positions of the Mercatus Center or George Mason University. Stephen Matteo Miller and Thandinkosi Ndhlela. “Money Demand and Seignorage Maximization before the End of the Zimbabwean Dollar.” Mercatus Working Paper, Mercatus Center at George Mason University, Arlington, VA, February 2019. Abstract Unlike most hyperinflations, during Zimbabwe’s recent hyperinflation, as in Revolutionary France, the currency ended before the regime. The empirical results here suggest that the Reserve Bank of Zimbabwe operated on the correct side of the inflation tax Laffer curve before abandoning the currency. Estimates of the seignorage- maximizing rate derive from a short-run structural vector autoregression framework using monthly parallel market exchange rate data computed from the ratio of prices from 1999 to 2008 for Old Mutual insurance company’s shares, which trade in London and Harare. Dynamic semi-elasticities generated from orthogonalized impulse response functions -
Diamonds in the Rough
Diamonds in the Rough Human Rights Abuses in the Marange Diamond Fields of Zimbabwe Copyright © 2009 Human Rights Watch All rights reserved. Printed in the United States of America ISBN: 1-56432-505-9 Cover design by Rafael Jimenez Human Rights Watch 350 Fifth Avenue, 34th floor New York, NY 10118-3299 USA Tel: +1 212 290 4700, Fax: +1 212 736 1300 [email protected] Poststraße 4-5 10178 Berlin, Germany Tel: +49 30 2593 06-10, Fax: +49 30 2593 0629 [email protected] Avenue des Gaulois, 7 1040 Brussels, Belgium Tel: + 32 (2) 732 2009, Fax: + 32 (2) 732 0471 [email protected] 64-66 Rue de Lausanne 1202 Geneva, Switzerland Tel: +41 22 738 0481, Fax: +41 22 738 1791 [email protected] 2-12 Pentonville Road, 2nd Floor London N1 9HF, UK Tel: +44 20 7713 1995, Fax: +44 20 7713 1800 [email protected] 27 Rue de Lisbonne 75008 Paris, France Tel: +33 (1)43 59 55 35, Fax: +33 (1) 43 59 55 22 [email protected] 1630 Connecticut Avenue, N.W., Suite 500 Washington, DC 20009 USA Tel: +1 202 612 4321, Fax: +1 202 612 4333 [email protected] Web Site Address: http://www.hrw.org June 2009 1-56432-505-9 Diamonds in the Rough Human Rights Abuses in the Marange Diamond Fields of Zimbabwe Map of Zimbabwe and the Marange Diamond Fields ........................................................... 1 Glossary of Acronyms ......................................................................................................... 2 I. Summary ......................................................................................................................... 3 II. Recommendations .......................................................................................................... 7 To the Government of Zimbabwe ........................................................................................... 7 To the Government of South Africa ........................................................................................ 7 To the Kimberley Process Certification Scheme ..................................................................... -
Final Desartation Ngqabutho.Docx Print.Pdf
MIDLANDS STATE UNIVERSITY FACULTY OF SOCIAL SCIENCES DEPARTMENT OF MEDIA AND SOCIETY STUDIES Crisis Management Communication and Political Communication in the Age of Social Media: A case study of ZANU PF from 2015-2016. By R125041H THIS DISSERTATION IS SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE BACHELOR OF SOCIAL SCIENCES IN MEDIA AND SOCIETY STUDIES HONORS DEGREE. May, 2016 Gweru: Zimbabwe R125041H Crisis Management Communication and Political Communication in the Age of Social Media: A case study of ZANU PF from 2015-2016. ABSTRACT With the increase of people and usage of social media platforms intensification, so does the need for crisis management communication. This research focuses on how ZANU PF uses social media to control its Factional crisis post the Joyce Mujuru eras focusing on Twitter and Facebook as platforms for their public relations response to the political damaging series of events the party experienced from 2015-2016. Additionally, the study looks at how the social media users used Facebook and twitter as a platform to reach out to ZANU PF and air out their concerns on the series of crisis that the party experienced. A content analysis of posts and tweets written in response to the predicaments that befell ZANU PF through this it was developed that ZANU PF officials used the two social networks as a way to reach out and communicate on how the party was making things at the same time social media users from both ZANU PF members and from how opposition parties voiced negative opinions about Many other problems that were being caused by the plague of crisis in identifying how ZANU PF used social media and restoration strategies in the wake of the crisis, it is possible to compare their use to best practices that have developed through academic research and present case studies where social media and restoration strategy was used effectively. -
ZIMBABWE COUNTRY REPORT April 2004
ZIMBABWE COUNTRY REPORT April 2004 COUNTRY INFORMATION & POLICY UNIT IMMIGRATION & NATIONALITY DIRECTORATE HOME OFFICE, UNITED KINGDOM Zimbabwe April 2004 CONTENTS 1 Scope of the Document 1.1 –1.7 2 Geography 2.1 – 2.3 3 Economy 3.1 4 History 4.1 – 4.193 Independence 1980 4.1 - 4.5 Matabeleland Insurgency 1983-87 4.6 - 4.9 Elections 1995 & 1996 4.10 - 4.11 Movement for Democratic Change (MDC) 4.12 - 4.13 Parliamentary Elections, June 2000 4.14 - 4.23 - Background 4.14 - 4.16 - Election Violence & Farm Occupations 4.17 - 4.18 - Election Results 4.19 - 4.23 - Post-election Violence 2000 4.24 - 4.26 - By election results in 2000 4.27 - 4.28 - Marondera West 4.27 - Bikita West 4.28 - Legal challenges to election results in 2000 4.29 Incidents in 2001 4.30 - 4.58 - Bulawayo local elections, September 2001 4.46 - 4.50 - By elections in 2001 4.51 - 4.55 - Bindura 4.51 - Makoni West 4.52 - Chikomba 4.53 - Legal Challenges to election results in 2001 4.54 - 4.56 Incidents in 2002 4.57 - 4.66 - Presidential Election, March 2002 4.67 - 4.79 - Rural elections September 2002 4.80 - 4.86 - By election results in 2002 4.87 - 4.91 Incidents in 2003 4.92 – 4.108 - Mass Action 18-19 March 2003 4.109 – 4.120 - ZCTU strike 23-25 April 4.121 – 4.125 - MDC Mass Action 2-6 June 4.126 – 4.157 - Mayoral and Urban Council elections 30-31 August 4.158 – 4.176 - By elections in 2003 4.177 - 4.183 Incidents in 2004 4.184 – 4.191 By elections in 2004 4.192 – 4.193 5 State Structures 5.1 – 5.98 The Constitution 5.1 - 5.5 Political System: 5.6 - 5.21 - ZANU-PF 5.7 - -
'Inclusive Government' : Some Observations on Its First 100 Days
Zimbabwe's 'Inclusive Government': Some Observations on its First 100 Days MARTIN WELZ University of Konstanz, Konstanz, Germany ABSTRACT Zimbabwe seemed to be in a political transition-but only on the surface. In actual fact, the new government established under the power-sharing agreement between President Mugabe and newly elected Prime Minister M organ Tsvangirai proved unsuccessful in its first 100 days owing to continued rivalry and a lack of commitment on behalf of Mugabe and his party. Mugabe managed to secure key positions in the new government for his cronies. They continued to control the relevant security organs as well as the Reserve Bank, which held a key position because its Governor guarded the budget available for the new ministers. Consequently, sabotage was an imminent threat for the new government. Mugabe benefited from the weakness of the opposition, which was split and had an indecisive and un charisma tic leader who failed to secure financial support from the West. To complicate the situation evenfurther there were more players involved in the political arena of Zimbabwe, including the two major farmers' groupings, an emerging third party under Simba M akoni, the trade unions and white businessmen. They all had their own agenda. Mugabe and his ruling clique relied on each other as they had both committed gross human rights violations over the last 25 years. They either fall together or their mutual dependency keeps them going. Change was unlikely to occur; even the new Movement for Democratic Change ministers were aware of this. KEY WORDS: Zimbabwe, Mugabe, Tsvangirai, Inclusive Government, ZANU-PF Introduction Zimbabwe's new government faced severe difficulties during its first 100 days in office. -
Persecution Not Prosecution Chipinge South MP, Hon
Iz qula enzo u I G ze o n ir z it o a G M u q a j u n l i a h C C h o i r n i t j i a a M M a a i j t i n r i o h C The Real Change Times Movement for Democratic Change A Party of Excellence! The Official Mouthpiece of the MDC Tuesday 07 February MDC Information & Publicity Department, Harvest House, 44 Nelson Mandela Ave, Harare, Zimbabwe Issue 092 2012 Persecution not prosecution Chipinge South MP, Hon. Makuyana speaks on his acquittal spent several weeks in remand prison work tirelessly to bring about new The judges said the trial magistrate, Speaking after the High Court ruling, before he was acquitted on all charges developments to his constituency Zuze, had erred on a number of issues Hon. Makuyana described the outcome at the High Court. following the quashing of his conviction and that the record of proceedings as a “super decision” as the charges at the High Court last week on false was in shambles. There were many were nothing but false. On 08 February 2011, police in Kadoma charges of kidnapping two Zanu PF facts missing from the court records arrested Gokwe – Kabuyuni MP, Costin activists in July 2009. relating to the case that it cast doubts “The case against me was brought by Muguti and 11 other MDC supporters on the outcome of the trial proceedings. losing Parliamentary candidate and on public violence charges. The case is Since his conviction and appeal against Zanu PF member, Enock Porusingazi.