CLUTCHING AT STRAWS

The rapidly deteriorating socioeconomic situation in our country continues to dominate the news as the government tries this and that to fix things. Unfortunately, it is failing in all attempts.

Calls to revert back to the multi-currency system are getting louder as inflation is now over 1, 000 percent while indications are high that it will continue to rise

Last week, the government increased fuel prices by more than 150 percent, a move which subsequently pushed the prices of basic commodities.

An increase of this nature in January 2019 sparked countrywide protests and at least 17 people were killed. This time around, the masses silently ‘accepted’ the increase as recent history taught us that taking to the streets never yields positive results, only the risk of possible death.

And sadly, businesses are already rejecting the local currency which has been rendered useless by the ever rising cost of living.

The local currency has been losing value on the parallel market with one US dollar fetching at least ZWL$90.

This has forced the government to pay civil servants partly in foreign currency in a bid to pacify trade unions who have been threatening mass protests over the situation in the country.

What is clear is that the economy has gone off the rails under the current leadership with no hope in sight that things will change for the better.

D