Sunday, April 15

Zimbabweans should remember Black Friday (Part Two)


"Friday 14 November, 1997 was the day the Zimbabwe dollar died. That day may not signify anything to many. Yet for Zimbabweans worldwide it was the day their currency lost value so fast that that there was little time for the ink to dry on the notes. In fact on that very day very few took any notice that something was amiss. Citizens went about their business totally oblivious of what was happening." 

Here we continue from where we left off....


Zimbabweans were on the verge of unprecedented changes to their way of life. It was not lost on them that November was the month when salary and wage bonuses were usually paid. The country was one of the few in which a bonus was a right and not a privilege.

The prospect of spending a black Christmas loomed large and real.  The banks had no money and the expression, ‘as safe as a bank’ took a whole new meaning.

That particular crisis came and went its way. But things were never the same after that. We never imagined that it would get worse. Zimbabweans would fix things. If Plan B failed, surely there would always be Plan C, D, E, F or even Plan Z! Yet when the bonus finally came, they could hardly afford a loaf of bread.

The January disease of 1998 was the harshest because it extended for the rest of the year. Things slid much faster at the turn of the century climaxing in 2008. Zimbabweans were on the verge of grazing on grass, with supermarkets bare and most people reduced to a Stone Age life of hunting and gathering. Zimbabwe had not only hit rock bottom, it had started to dig.

And yet they seem to have forgotten so easily how they managed to rise from the dead. The Global Political Agreement that was the result of compromise between the contending political parties was a Godsend. It gave Zimbabweans and the country’s comatose economy a lifeline. Lest we forget where the country had been people have to accept that things are far from normal.

But the environment has been stable enough for some to begin clamoring for elections in the belief that polls will fix things. There are those that believe that it is suicidal for people to believe that the mere introduction of new dispensation will usher in a period of economic renewal. Donors are expected to come falling over each other wave a magic wand that will bring billions and create jobs.

Will the prodigal sons and daughters come pouring from all corners of the globe? They won’t just come back that easily without hard and fast guarantees.

The pessimists implore that the daydreaming should stop. No magic wand that will ‘fix’ things they say. Zimbabweans at home and abroad should accept that things have irrevocably changed and can’t be taken back to a golden era that is long gone. Zimbabwe’s re-admission into the family of nations is likely to expose it to the nasty side of globalization.

The see-saw recession that is chewing up weak European economies is a threat to recovery. And there is the glaring possibility of the World Bank and IMF force feeding Zimbabwe a cocktail of bitter fiscal medicine as a condition for much needed debt relief.

The country’s much touted natural resources could have been mortgaged to the Chinese say analysts. Record breaking diamond finds in the Marange area have turned out to be a curse rather than a blessing.  Only a seismic shift in government policy will compensate for the harm done by politically motivated land redistribution and indigenization.

Was it not Kwame Nkrumah who once said ‘See ye first the political kingdom and all things shall be added unto you.’  The political kingdom came in 1980 but it was downhill from then on. Nkrumah could be turning in his grave or the best perhaps, is yet to come. That is if one is an optimist and as long as Zimbabweans do not forget the experiences of the recent past.

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