Zimbabwe's destiny: a decade on, the country is in a financial crisisthat has no equals.

Zimbabwian authorities have reported that after paying their public workers, they then realized that the state's bank coffers had a balance of circa 217 us dollars.

If that seems incredible, it is because it truly is. The same functionary interwieved by Al Jazeera told that some of the public employees had a fatter bank account than the state itself.

The disastrous policy by President Mugabe of mass expropriation has left the country bereft of economic resource ten years on. Inflation reached a peak of 231%, with obviously no relief in sight, although things have improved marginally since then.

This raises the specter of insufficient funds not only for public resources, but also for the much anticipated constitutional referendum, planned for next year.

The same functionary opined that the only solution now is to ask donors for cash, by approaching the international community, since the referendum would cost at least 104,000,000.00.

Strangely, the national budget is 3.8 billion, and the economic growth is higher than most developed nations at this time.

It is therefore obvious that mismanagement of funds is the culprit, coupled with the lack of foreign investment which disappeared after the disastrous expropriation of white-owned farms.

Staff BHP NEWS

source - Al Jazeera/ 1.31.13