One year on, inflation still sky high
The first anniversary of the elections that brought President Emmerson Mnangagwa to power will take place on 30 July. Security forces killed several protesters in the immediate aftermath of the election, and the political climate has remained tense with oppositionist Nelson Chamisa refusing Mnangagwa’s offers of dialogue. Inflation has been skyrocketing on the government’s spending and its commitment to use the US dollar as an official currency. Harare rolled out a surrogate currency, the RTGS dollar, in February, but it rapidly depreciated in value as the government dragged its feet on tough reforms. In April, Harare and the IMF began the process of launching a Staff-monitored Programme.