Just ahead of the presidential elections Zimbabwe has only $217 left in government coffers. Zimbabwe’s Finance Minister Tendai Biti reports that after paying public workers’ salaries, the treasury was almost empty. He also adds that bank accounts of some employees are in much better condition than the state treasury. Meanwhile, the government has to ask financial aid from the international community to hold referendum and elections. Preliminary figures indicate that the cost of referendum together with elections climbs to $104 million.
Domestic policy implemented by Robert Mugabe, the President of Zimbabwe, is aimed to seize land from European farmers, and has triggered numerous abuses of human rights as well as indiscriminate killings which negatively affected country’s economy. Such steps taken by the government scared investors and tourists away and led to downturn in manufacturing output. Moreover, the vast majority of the deprived land is practically not utilized. In addition, some international economic sanctions were imposed against Zimbabwe.
