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Strategies & Market Trends : Africa and its Issues- Why Have We Ignored Africa?
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To: TimF who wrote (557)7/28/2006 6:58:22 PM
From: sea_urchin  Read Replies (1) of 1267
 
Tim > I wouldn't be surprised if it got worse before it go better

I agree with you, in fact, I see a disaster for most Zimbabweans. I presume many will come or attempt to come to South Africa as refugees. That could cause enormous problems in SA. Already we have some millions of Zimbabweans who add to the distress of the locals by burdening the social services, the police, because of crime, and also aggravate the poverty by taking the few jobs which are available.

> The currency is on a track to becoming worthless

That's if it has any value now?! Of course, while Mugabe is in power the money printing will continue because he uses it as a means of taxation as well as a means of remuneration of his cronies and the army which he employs to keep himself in power. He knows that if the army doesn't get paid they might very well seek employment elsewhere -- namely another boss. But while he is in power there can be no foreign relief because the powers that be (maybe with the exception of China?) and the IMF will not advance him any more loans.

> If nothing is done the economy will be reduced to barter.

I'm sure for most people it must be close to that already but the problem is that most people have very little with which to barter. And this is in an economy which ten years ago was absolutely flourishing, in fact, was regarded as an example to others.
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