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Reasons For Zimbabwe's Economic Decline Essay

1033 words - 4 pages

Several decades ago, Zimbabwe was a country with good prospects, being the most rapidly developing African country. Nevertheless, few countries in Africa managed to continue prospering in XXI century, but Zimbabwe did not. Zimbabwean economy lies at the bottom of GDP ratings, faced one of the largest rates of hyperinflation in common history and does not develop due to corrupt administration and insufficient policy. Moreover, the Reserve Bank of Zimbabwe is responsible for printing money for government spending while Zimbabwean people are dying as a cause of famine, venereal diseases and poverty. To solve mentioned problems, Zimbabwe accepts aids from other countries, but according to statistics, aids cause negative effect on country’s political situation. This paper will briefly explore historical background of Zimbabwe, will evaluate governmental programs and accommodate statistics on current situation in the State.
Zimbabwe is situated in the Southern part on Africa, between the Zambezi and Limpopo rivers. In 1899, the United Kingdom started to observe these lands in terms of Cecil Rhodas’s British South Africa company, since then Zimbabwe was known as ‘Rhodesia’. In 1965, the prime-minister of Zimbabwe, Ian Smith, proclaimed country’s independence from Britain, but this fact was not repudiated. On 1st June 1979, in the result of elections, the United African National Council party won a majority of votes and the leader of this party, Abel Muzorewa, after becoming country’s prime-minister changed the name of ‘Rhodesia’ to Zimbabwe-Rhodesia. On 1 December 1979, delegations from the British and Rhodesian governments and the Patriotic Front signed the Lancaster House Agreement, ending the civil war and proclaiming the independence of the Republic of Zimbabwe.
In 1966, the Organization of the United Nations forbade white people of Rhodesia to trade. Nevertheless, 14 years later Zimbabwe’s economy became one of the most developed in Africa and its currency, Zimbabwe dollar was stronger than the US dollar (Coltart, 2008, p.1). To compare, it was possible to exchange 8 Zimbabwean dollars into one US dollar in 1995. However, nowadays one US dollar is equal to 100,000 Zimbabwe dollars. Corrupt political elite, with considerable international support is responsible for these problems. Since independence, in the last 4 decades 140 billion US dollars were stolen from Zimbabwean nation by its corrupt administration (Williams, 2006). As a result, number of officially poor people is at the rate of 80 percent nowadays, and that is more than twice as big as was in mid-1990s. Moreover, HIV/AIDS, poverty and hunger cause 3500 deaths per week, average life expectancy halved since 1994, namely it has fallen from 57 to 34 years for women and from 54 to 37 years for men. Also, number of children deaths increased. Between 1999 and 2006, number of children receiving all major vaccinations decreased by 21 percent while number of children getting no vaccination at all...

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