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18 November 2017 17:51 (South Africa)

Zimbabwe’s Biti getting economy back on track, but still off the rails

tendai biti

Zimbabwe's crisis-ridden economy is set to expand for the first time in 10 years by between 3.7% and 4.7% in 2009, and looks to grow by 7% in 2010 as agriculture and mining start to recover. It’s hard to believe, and some economists suspect it’s overly optimistic, but finance minister Tendai Biti of the country’s unity government has brought inflation down to acceptable figures from highs that once went off the graph (some say 500 billion-percent, others over 80 sextillion-percent - seriously). Biti is a member of the country’s opposition Movement for Democratic Change party, which has brought some stability to the country after Robert Mugabe’s Zanu-PF destroyed the nation’s agriculture by confiscating white farms. Zimbabwe is trying to rebuild an economy that is officially estimated to have contracted 50% between 2000 and 2008. The global recession and high tensions in the power-sharing government would make Biti’s achievement remarkable, despite the long road ahead. Read more: Reuters, Metro Zimbabwe, BBC Radio 4

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