Topic > Reasons for Zimbabwe's Economic Decline - 1054

Several decades ago, Zimbabwe was a country with good prospects, being the fastest developing country in Africa. However, few African countries have managed to continue to prosper in the 21st century, but Zimbabwe has not. Zimbabwe's economy sits at the bottom of the GDP table, has faced one of the largest hyperinflation rates in common history and is failing to develop due to a corrupt administration and poor policy. Furthermore, the Reserve Bank of Zimbabwe is responsible for printing money for public spending while the people of Zimbabwe die from famine, venereal disease and poverty. To solve the mentioned problems, Zimbabwe accepts aid from other countries, but according to statistics the aid causes negative effects on the political situation of the country. This article will briefly explore the historical context of Zimbabwe, evaluate government programs and contain statistics on the current situation in the state. Zimbabwe is located in the southern part of Africa, between the Zambezi and Limpopo rivers. In 1899, the United Kingdom began to observe these lands under the terms of Cecil Rhodas' British South Africa Company, since then Zimbabwe was known as "Rhodesia". In 1965, the Prime Minister of Zimbabwe, Ian Smith, proclaimed the country's independence from Great Britain, but this fact was not disavowed. On June 1, 1979, following the elections, the United African National Council party obtained the majority of votes, and the leader of this party, Abel Muzorewa, after becoming prime minister of the country, 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 independence. of people living with HIV and AIDS, the nation cannot even rely on its own government because it is completely mired in corruption. Works Cited Coltart, D. (2008). A decade of suffering in Zimbabwe: economic collapse and political repression under Robert Mugabe. Washington, DC, United States: The Cato Institute.Hanke, S. H. (2008). Zimbabwe: from hyperinflation to growth. Washington, DC, United States: TheCato Institute.Hanke, S. H. (2010). RIP Zimbabwe Dollar. Retrieved January 1, 2012, from http://www.cato.org/zimbabwe%3CbrTupy, M.L. (2010). Zimbabwe: from crisis to renewal. Retrieved December 26, 2011, from http://www.cato.org/pub_display.php?pub_id=12609Williams, W. E. (2006). Foreign aid to Africa. Retrieved December 20, 2011, from http://townhall.com/columnists/walterewilliams/2006/06/28/foreign_aid_to_africa/page/full/