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Showing posts from April, 2009

New Finance Minister Faces Challenges

Perhaps after Mr. Obama’s job, the second most challenging role is that of the new Zimbabwean Minister of Finance, Tendai Biti. 2008 was one of the most challenging for the Zimbabwean economy, and indeed the global economy. The sharp increase in inflation against a background of acute shortages of goods and services, poor harvests and the attendant severe food shortages and the deteriorating delivery of public services such as water, electricity, sanitation and health imposed phenomenal hardships on the population. Needless to say, in order to decisively achieve economic turnaround, which regrettably would in the short and medium term be painful, cohesion and unity of purpose among the three political parties, and among institutions of government and business, as well as labor, o-operating partners and other stakeholders will be necessary if the country is ever to rebound. The 2009 Budget, presented to parliament at the end of the last fiscal year, seeks to respond to the various c...