By Business Reporter | The respected London Think tank Chatham House yesterday held a discussion on the economy of Zimbabwe during the coronavirus period and beyond.
COVID-19 has had a devastating effect on Zimbabwe’s already floundering economy. Important foreign currency earning industries have virtually stopped, and across the country livelihoods are at risk and an increasing number of people are reliant on government grants. Businesses are having to become more flexible but are constrained by a weak policy environment and lack of confidence in the economy. Since 2017, the government has been pursuing an economic reform agenda and Transitional Stabilization Programme (TSP), which was scheduled for completion by the end of 2020. The deepening challenges highlight the need to accelerate economic reform and build confidence in order to achieve sustainable and inclusive growth.
The meeting concluded that there are are two things that are affecting the economy: printing money, and confidence issues.
Complaints were raised that the government is criminalising the informal sector. It has become a trend now that whenever there is a disaster in the country, the informal sector suffers criminalization.
“This has resulted in increased poverty and vulnerability to disasters, said representative of the Informal Business Sector. VIDEO BELOW
Then no. 3 is the issue of criminalization of informal work, and this has resulted in increased poverty and vulnerability to disasters, says representative of the Informal Business Sector @ChathamHouse pic.twitter.com/i2WfzaekC2
— ZimEye (@ZimEye) September 8, 2020
Meanwhile, the speakers were:
Busisa Moyo, CEO, United Refineries Limited; Board Chairperson, Zimbabwe Investment and Development Agency (ZIDA)
Dr Carren Pindiriri, Senior Lecturer, Department of Economics, University of Zimbabwe
Ethel Kuuya, Managing Director, Advisory-K
David Mbae, Resident Representative in Zimbabwe, Konrad Adenauer Stiftung
Dr Knox Chitiyo, Associate Fellow, Africa Programme, Chatham House
Chair: Christopher Vandome, Research Fellow, Africa Programme, Chatham House.