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Economy of Zimbabwe



The 2007 Empowerment Bill to increase local ownership of economy is being drafted for presentation to parliament in July 2007.[34] It is signed into law by President Mugabe on 7th March 2008. The law requires all White or foreign owned business to hand over 51 percent of their business to indigenous Zimbabweans. Many economists predict this will plunge the country into deeper economic woes.

In response to skyrocketing inflation the government has introduced price controls, but enforcement has been largely unsuccessful.[35] Police have been sent in to enforce requirements that shopkeepers sell goods at a loss. This has resulted in hundreds of shop owners being arrested under accusations of not having lowered prices enough. Because of this, basic goods no longer appear on supermarket shelves and the supply of petrol is limited. This has diminished public transport. However, goods can usually be had for a high rate on the black market.[31]

[

Gold

Production 27,114 kg. (1998) 7,017 kg. (2007) [12]

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Energy

Electricity
Production 8.877 billion kWh (2003)
Consumption 11.22 billion kWh (2003)
Exports 0 kWh (2003)
Imports 3.3 billion kWh (2003)

9.50% from D.R.Congo
19.0% from Mozambique
28.5% from Zambia
43.0% from South Africa
Oil
Production 0 bbl/day (2003 est.)
Consumption 22,500 bbl/day (2003 est.)
Exports 0 bbl/day (2003)
Imports 23,000 bbl/day (2003)

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See also

[

References

  1. ^ "CIA - The World Factbook -- Burma", CIA, May 17, 2008. Retrieved on 2008-05-17. 
  2. ^ Virgins, potions, and AIDS in Zimbabwe, October 22, 2002. World Press.
  3. ^ Steenkamp, Philip John; Rodney Dobell (1994). Public Management in a Borderless Economy, 664. 
  4. ^ Outages short Zim revival, October 9, 2006. News24.
  5. ^ Economy, 2002. Geography IQ
  6. ^ Famine fears rooted in Zimbabwe crop failures, February 9, 2005. The New Farm.
  7. ^ Jesse Jackson lambasts Mugabe, SA banks, June 20, 2006. Zimbabwe Situation.
  8. ^ [1], U.S. Department of State, 2004
  9. ^ The Zimbabwe Situation
  10. ^ The Zimbabwe Situation
  11. ^ The Zimbabwe Situation
  12. ^ The Zimbabwe Situation
  13. ^ "Fear and hope mingle as Harare awaits election results", www.thetimes.co.za, April 6, 2008. Retrieved on 2008-04-08. 
  14. ^ a b c "Zim dollar devalued", The Financial Gazette Zimbabwe, May 2, 2008. Retrieved on 2008-05-02. 
  15. ^ "Zimbabwe’s new $250m note", www.thetimes.co.za, May 6, 2008. Retrieved on 2008-05-08. 
  16. ^ "Zimbabwe introduces new high denomination notes", http://www.afriquenligne.fr, May 6, 2008. Retrieved on 2008-05-08. 
  17. ^ "Introducing the new Zim note...", http://www.iol.co.za, May 15, 2008. Retrieved on 2008-05-08. 
  18. ^ "RBZ Issues Agro Cheques", http://allafrica.com, May 21, 2008. Retrieved on 2008-06-02. 
  19. ^ "Britain 'behind' BA's pullout", www.news24.com, January 9, 2007. Retrieved on 2008-01-09. 
  20. ^ "Zim poverty line hits $100m", www.fin24.co.za, January 10, 2007. Retrieved on 2008-01-10. 
  21. ^ "A Zimbabwean beggar poses with wads of Z$200,000 notes in the capital, Harare, where on the black market Z$200,000 is worth one US cent.", news.bbc.co.uk, February 27, 2008. Retrieved on 2008-02-27. 
  22. ^ "Zimbabwe dollar in dramatic fall", www.earthtimes.org, February 27, 2008. Retrieved on 2008-02-27. 
  23. ^ "Zimbabwe opposition wants to float currency", Reuters, March 11, 2008. Retrieved on 2008-03-11. 
  24. ^ "Cash Shortage Resurfaces as Zimbabwe Currency Plunges Further", Bloomberg, March 11, 2008. Retrieved on 2008-03-11. 
  25. ^ "Zim dollar in freefall", fin24.co.za, March 12, 2008. Retrieved on 2008-03-12. 
  26. ^ "Zimbabwe Business Watch : Week 11", Zimbabwe Situation, March 11, 2008. Retrieved on 2008-03-17. 
  27. ^ "Africa in Pictures March 15-21 (Picture 9)", BBC News, March 21, 2008. Retrieved on 2008-03-21. 
  28. ^ "Zimbabwean Dollar Slumps as Residents Rush for Foreign Currency", Bloomberg, March 19, 2008. Retrieved on 2008-03-21. 
  29. ^ a b c d e "Old Mutual Implied Rate", ZimbabweanEquities.com, April 8, 2008. Retrieved on 2008-04-08. 
  30. ^ "Zimbabwe inflation at record level", Al Jazeera, March 6, 2008. Retrieved on 2008-03-12. 
  31. ^ a b "How to stay alive when it all runs out", The Economist, July 12, 2007. Retrieved on 2007-07-18. 
  32. ^ CIA World Fact Book 2003 http://www.umsl.edu/services/govdocs/wofact2003/geos/zi.html
  33. ^ http://www.zimbabwesituation.com/jul28b_2006.html#Z2 Zimbabwe Budget puts government at ZWD 253 trillion in the red. (2006-07-27)
  34. ^ 2007 Empowerment Bill (2007-06-09) Zimbabwe Situation
  35. ^ | DailyComet.com | The Thibodaux Daily Comet | Thibodaux, LA

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