WASHINGTON DC —
Zimbabwe’s former finance minister, Tendai Biti, says the country’s economy will continue to decline as long as there is no solution in sight to fix it.
The economy has been declining fast following the 2013 general elections won by President Robert Mugabe’s Zanu PF party with the country failing to meet revenue targets owing to a shrinking tax base due to the current harsh economic environment in the southern African nation.
Indications are that the economy lacks support from the international community while businesses are failing to access cheap capital to boost production.
Biti said this shows that Zanu PF has no clue in running the country as the economic crisis of 2008 is resurfacing.
He said this has been worsened by Mr. Mugabe’s ability to direct some of his ministers, like Finance Minister Patrick Chinamasa to do what he wants.
But senior Zanu PF member, David Ndlovu, said Biti’s remarks are just cheap politicking.