{"id":62450,"date":"2022-07-09T16:04:23","date_gmt":"2022-07-09T14:04:23","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-may-experience-a-repeat-of-2008-crisis"},"modified":"2022-07-09T18:14:08","modified_gmt":"2022-07-09T16:14:08","slug":"zimbabwe-may-experience-a-repeat-of-2008-crisis","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/zimbabwe-may-experience-a-repeat-of-2008-crisis","title":{"rendered":"\u201cZimbabwe May Experience A Repeat Of 2008 Crisis\u201d"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Media scholar Mphathisi Ndlovu says there is a possibility that the country\u2019s economic challenges will get worse ahead of the 2023 elections.<\/p>\n

Presenting on socio-economic scenarios, challenges and gaps in implementing socio-economic development policy reforms during a Zimbabwe Democracy Institute (ZDI) think tank meeting, Ndlovu said Zimbabwe may experience challenges similar to those it experienced in 2008.<\/p>\n

Writing for CITE, Senzeni Ncube quoted Ndlovu as saying that the Zimbabwe dollar will most likely continue losing its value against the USD. Said Ndlovu:<\/p>\n

My first argument is that the socio-economic hardship will most likely worsen, this is informed by what is happening currently, I think most of us experienced the 2008 crisis, and there is a possibility that there will be a repeat of the 2008 crisis.<\/p>\n

If we look at our local currency, there is inflation, there were figures which were shared a few days ago that stated that Zimbabwe\u2019s inflation for June 2022 was at 426 per cent.<\/p>\n

With this in mind, we can assume that the local currency will most likely continue losing its value against the United States dollar and there is a possibility that there will be fuel price hikes which is what we have been experiencing.<\/p>\n

Zimbabwe\u2019s year-on-year inflation climbed to 192% in June from 132% in May, according to the Zimbabwe National Statistics Agency (ZIMSTAT).<\/p>\n

However, Steve Hanke, a professor of applied economics at Johns Hopkins University in the United States of America, says Zimbabwe\u2019s annual inflation rate is 426%, the highest in the world.<\/p>\n

Ndlovu added that the high cost of living will most likely become unbearable and there is a possibility of mass immigration. He said:<\/p>\n

Civil servants have been giving the government an ultimatum that their grievances be addressed, they have been calling the government to address issues of their salary, that they be paid in United States Dollars, so there is that possibility that there will be some crisis at public health institutions will persist.<\/p>\n

Not just health institutions but teachers, there is that possibility that they will continue asking for payment in US dollars, the issue of incapacitation, the issue of strike, there is that possibility given the current prevailing socio-economic environment.<\/p>\n

Ndlovu was speaking during a Zimbabwe Democracy Institute (ZDI) think tank meeting on key electoral reform challenges, gaps, demands and strategies held in Bulawayo on Thursday.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Media scholar Mphathisi Ndlovu says there is a possibility that the country\u2019s economic challenges will get worse ahead of the 2023 elections. Presenting on socio-economic scenarios, challenges and gaps in implementing socio-economic development policy reforms during a Zimbabwe Democracy Institute (ZDI) think tank meeting, Ndlovu said Zimbabwe may experience challenges similar to […]<\/p>\n","protected":false},"author":84,"featured_media":62449,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4,35,15],"tags":[1493,2189,327,10685,7451,19,7452],"class_list":{"0":"post-62450","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-community","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-inflation","14":"tag-mphathisi-ndlovu","15":"tag-zdi","16":"tag-zimbabwe","17":"tag-zimbabwe-democracy-institute"},"yoast_head":"\n\u201cZimbabwe May Experience A Repeat Of 2008 Crisis\u201d - zimbabwe<\/title>\n<meta name=\"description\" content=\"Media scholar Mphathisi Ndlovu says there is a possibility that the country\u2019s economic challenges will get worse ahead o ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-may-experience-a-repeat-of-2008-crisis\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cZimbabwe May Experience A Repeat Of 2008 Crisis\u201d\" \/>\n<meta property=\"og:description\" content=\"Media scholar Mphathisi Ndlovu says there is a possibility that the country\u2019s economic challenges will get worse ahead o ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-may-experience-a-repeat-of-2008-crisis\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-09T14:04:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-09T16:14:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_14-62c9a93681224.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-may-experience-a-repeat-of-2008-crisis\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-may-experience-a-repeat-of-2008-crisis\",\"name\":\"\u201cZimbabwe May Experience A Repeat Of 2008 Crisis\u201d - 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