In a recent display of financial naivety, the Zanu PF alongside Mthuli showcased a child-like euphoria over the potential of accruing new loans from international bodies. The irony, however, is glaring as the same Zanu PF is not so enthusiastic about non-conditional loans from its newfound benefactor. It’s an insult to the weary Zimbabweans that the corrupt Zanu PF is keen on saddling the nation with more loans despite the historical mismanagement of funds. The previous international obligations, which stand at a staggering amount, have yielded no fruits to justify the borrowing spree.
Before clearing the existing debt, the insatiable Zanu PF is out on the prowl for more loans. It’s disheartening that Scarfmore and his illegitimate, sadistic party fail to grasp the harsh reality staring at them – the self-inflicted constitutional crisis that has snowballed into a state paralysis, inching closer to a state collapse. The free world’s unyielding call for reforms directed at the tyrannical Zanu PF ought to serve as a wake-up call. A call to avert the impending state collapse and failure that even the partisan military or politicized judiciary can’t cushion. This is the Zanu PF-induced paranoia that’s stirring a destabilization and likely shift towards liberal democratic transitions which encompass a liberalized economy, rule of law, and devolution of power among others.
The fact is, it’s Zanu PF, not Zimbabwe, that owes the World Bank a whopping $1.052 billion. Not a cent of this debt has trickled down to the welfare of the common folk, long neglected by the sadistic Zanu PF whose primary occupations revolve around parasitism, pilfering, and plundering. The billion-dollar question is, where did the money go? Was it channelled into public goods and services like health, water or energy? A resounding no echoes through the economic ruins of Zimbabwe.
Did the funds perhaps navigate towards the modernisation and mechanisation of agriculture, or the retooling of the industry battered by Zanu PF’s deindustrialisation policies? A basic grasp of reality suggests otherwise. Had the funds been judiciously invested in agriculture, food insecurity wouldn’t be a glaring issue, needing a $65 million intervention as per the World Food Programme. Moreover, had the funds been directed towards modernisation and retooling of the industry, the employment rates wouldn’t be hitting rock bottom, nor would inflation be soaring to the skies. Adequate production would balance the money supply with available goods and services, averting the trade deficit that plagues the economy.
The sad reality is that Zanu PF’s debt accumulation trend is bound to continue, with poverty and abject destitution proliferating in harmony with the escalating debts. The recent revelation in October about the external debt skyrocketing to an astonishing $13.7 billion further unveils the corruption under Scarfmore’s criminally orchestrated party. The alleged billions remain a mirage with traces leading to offshore accounts and tax havens, elucidating the outcry over targeted sanctions. Hence, the bitter truth remains; the debt frenzy spearheaded by Zanu PF is nothing but a mirage masking the eroding Zimbabwean dream.
About The Author
