Zimbabwe Falters amid Severe Drought and Mismanagement

According to the U.N.’s World Food Program, Zimbabwe faces a severe food shortage as a prolonged drought plagues the economy, according to Reuters. The Southern African nation faces its worst drought in 25 years while recovering from unprecedented levels of inflation that brought the economy to its knees five years ago. Zimbabwe’s agriculture sector comprises 30 percent of exports and 19 percent of GDP.

According to the U.N.’s World Food Program, Zimbabwe faces a severe food shortage as a prolonged drought plagues the economy, according to Reuters. The Southern African nation faces its worst drought in 25 years while recovering from unprecedented levels of inflation that brought the economy to its knees five years ago. Zimbabwe’s agriculture sector comprises 30 percent of exports and 19 percent of GDP.

There are many viable emerging markets in Africa, but Zimbabwe remains a lost country unable to live up to its true potential because of corruption and authoritarianism. President Robert Mugabe has long been at odds with the international community, most notably the European Union (EU), one of the largest donors to his country.

One of his more controversial policies occurred 10 years ago when he displaced over 4,000 white farmers from their land, contributing to job losses and damaging credibility, and the country has not fully recovered since. Further, Zimbabwe’s currency inflated to 500 billion percent, forcing the nation to abandon its currency in 2009 in favor of foreign money. Ratings agency Moody’s stated that the country’s aim to increase circulation of the Chinese yuan could boost investment, but it will not be enough to gain the trust of investors, and Mugabe’s tenure certainly hasn’t helped matters.

Allegations of human rights abuses and election fraud stain Mugabe’s 30-year rule, causing the EU to impose various sanctions on the nation throughout the years. He refuses to issue a state of emergency over the food situation, which would allow donors to raise money faster to help, and Mugabe did not do himself any favors by spending over $800,000 in festivities for his birthday while so many people are suffering.

The 91-year-old leader has an immense cult of personality status among many of his people, but the opposition notes that such a massive amount of birthday spending could have supported the country’s ailing economy. Additionally, his administration stoked further anger when one of his deputies spent $250,000 during a hotel visit in December as many Zimbabweans contend with poverty and a lack of food.

The drought has not only affected crops in Zimbabwe, but also throughout the southern region; over 14 million people in southern Africa could face starvation. Further, Zimbabwe relies on hydroelectricity for much of its power needs, and a lack of water is responsible for routine power outages. The government has proposed a 42-percent hike in electric tariffs, enraging miners and farmers already struggling with insufficient water resources and lower commodity prices.

Such policies demonstrate the government’s aloofness when it comes to solving the nation’s problems, and Zimbabwe is falling further behind when compared to other countries in the region.