Zimbabweans Are Left Reeling as Cash-Starved Economy Implodes
- Nation faces chronic shortages of fuel, foreign exchange
- Unions call national strike after government hiked fuel prices
Protesters block the main route to Zimbabwe's capital Harare from Epworth township on Jan. 14.
Photographer: Jekesai Njikizana/AFP via Getty Images
Chronic shortages of fuel and foreign exchange, surging inflation and mass strikes have driven Zimbabwe to the brink of economic collapse and made a mockery of President Emmerson Mnangagwa’s claim that the country is open for business.
Many shops and factories have shut their doors because of a lack of customers and those that continue to trade are open to haggling over prices to secure hard currency. At an appliance shop in the capital, Harare, a salesman whispers that a Whirlpool Corp. washing machine priced at about $5,000 if paid for electronically will sell for $1,500 in cash, while at a nearby electrical warehouse, a $600 invoice is whittled down to $145 for payment in dollar bills.