New Banking Measures Unlikely To Help

October 2006 | Economic Analysis

The government's economic managers have for some considerable time been reduced to a 'fire-fighting' role in the face of the daunting productive and financial crisis facing the country. Decisions have hardly been taken without prime consideration being given to the survival of President Robert Mugabe's regime and the vested interests that underpin it. The result has been constant attempts to micro-manage the crisis, often by semi-veiled cohersion that effectively amounts to an attempt to introduce a 'command economy' in which the market is not allowed to allocate resources efficiently. More by default than design, the Reserve Bank of Zimbabwe (RBZ)

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