Does a loaf of bread in Zimbabwe cost a few weeks’ pension?


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Zimbabwe Foreign Minister Sibusiso Moyo has questioned an opinion piece which was published by the Financial Times of London recently which said among other things “the price of almost everything has ballooned, a loaf of bread can gobble up a few weeks’ pension”.

The piece entitled: Zimbabwe is at breaking point, according to Moyo, also stated that “Zimbabwe, paradoxically, is still one of Africa’s brightest prospects”.

“The real paradox is how many omissions and contradictions are required to make this argument stick,” Moyo wrote.

The Foreign Minister who is also responsible for international trade wrote: “This new administration is the only way to ensure that Zimbabwe lives up to its potential as one of Africa’s ‘brightest prospects’.

“After years of economic turmoil under Robert Mugabe, root-and-branch reform across the spectrum of the state is required: land, fiscal, monetary, justice and transparency, and civil and political freedom.

“Today, respectively, all are under way: the nation is currently transitioning towards its own fiat currency; a primary budget surplus has been achieved for the first time in years under the technocratic finance minister; high profile ministers and officials are being tried for embezzlement; and unacceptable anti-democratic Mugabe-era legislation which curtailed freedom of expression and assembly are in varying stages of repeal and replacement.

“A snapshot of a country reveals only so much; it is the trends — omitted in Mr Pilling’s article — that are important.”

Below is Pilling story in full and Moyo’s full response as well.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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