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Economics

Tanking Economy Snaps Zimbabwe Dream of Post-Mugabe Revival

  • Fuel, foreign-exchange shortages, strikes hobble businesses
  • President Mnangagwa embarks on foreign trip as crisis deepens
Emmerson Mnangagwa

Emmerson Mnangagwa

Photographer: Waldo Swiegers/Bloomberg
Updated on

Hopes of an economic revival in Zimbabwe lie in tatters 14 months after President Emmerson Mnangagwa took office, as the nation reels from foreign-exchange and fuel shortages, strikes and a dearth of political leadership.

Disgruntlement with falling living standards spilled onto the streets of Harare, the capital, and other towns on Monday with thousands of people heeding a call by the country’s largest labor group to strike against massive fuel-price increases. Eight people were reportedly killed in clashes between the police and demonstrators and 200 others were detained, according to Amnesty International, a London-based human-rights group.