In its latest World Economic Outlook report released last Thursday, the International Monetary Fund (IMF) revised expected economic growth for Zimbabwe this year to 2.2 percent, down from the six percent growth that the fund had initially predicted.
The IMF whose word is much to the chagrin of many people in the developing world – gospel truth to foreign investors looking for places to plant their investments predicted Zimbabwes economy to register zero percent growth in 2011.
The grim outlook by the Bretton Woods institution comes against the backdrop of rising annual inflation which in March spiked to 3.7 percent from -0.7 percent, according to figures from the Central Statistical Office (CSO).
Put in simpler language, what the IMF and the CSO figures mean is that we are firmly headed back exactly where were before Messrs Robert Mugabe, Morgan Tsvangirai and Arthur Mutambara decided to form the unity government that we are constantly reminded was and remains the only viable option to pluck Zimbabwe out of economic misery. The truth shall soon be revealed!
Given where we were coming from a coalition government was probably a logical route to follow. But the unity government was never going to work if the only reason for Mugabe appending his signature to the deal was that he needed breathing space while he worked out how to neutralise Tsvangirai and the MDC.
The coalition government was never going to be the platform upon which to launch Zimbabwes escape from a decade of misery and hunger if the only reason for Tsvangirai joining the union was that he could not anymore resist the pressure exerted on him by SADC leaders to do so.
Never mind the relative peace in the country, availability of goods on shop shelves, the end of the black market for foreign currency and everything else, the truth is that the unity governments achievements have been far inadequate in relation to the needs and expectations of the nation.
Now, the economic stagnation seen by the IMF in 12 months time will no doubt give way to another recession. Businesses will have to double and triple prices in order to survive and inflation will go up again soon it will be back to Zimbabwe circa 2008.
Anywhere else, news that the economy will stop growing in about 24 months would sent a government into overdrive, coming up with new policies, intervention measures and programmes to reinvigorate the economy and ensure growth is restored.
The signs of impending economic disaster are written large on the walls. But all we see from the unity government is an embarrassing and increasingly childish power struggle marked by conflicts over policy and fights over jobs, perks and what have you.
Do we really have to live with this? You be the judges Zimbabweans!
Post published in: Editor: Wilf Mbanga