Zimbabwe’s economy: dollarising or dolorising?
A recently received mis-typed email revealed a wider truth. On Wednesday 3 December, the Zimbabwe Congress of Trade Unions (ZCTU) has called a day of action to draw attention to the continuing downward spiral of the economy of Zimbabwe – join their protest here. The latest phase is characterised by the flight of big business and the regime’s supporters to using the US dollar which is unaffected by spiralling Zimbabwean inflation, and the refusal of the Reserve Bank of Zimbabwe to allow ordinary Zimbabweans to use US dollars or even withdraw enough Zimbabwean dollars to pay for their daily lives. For some, the Zimbabwean economy is “dollarising”, while for others it is “dolorising” – dolor is Latin for pain, with connotations of great sorrow.
For an evocative description of Zimbabwe’s current problems see Grace Mutandwa’s blog from the British Embassy in Harare about how Obama’s victory in the US (and McCain’s immediate concession) made her feel.