Mugabe caused the problem, but how? Zimbabwe only attained independence in 1980 after a bloody struggle against the white minority government led by Ian Smith. The Whites occupied Zimbabwe in 1800s with an intention of exploring mineral resources in the then Rhodesia. Ralizing that there were no sufficient minerals to sustain their ambitions, they resorted to farming. This meant that the Ndebele as well as the Shona people had to give their land away to the minority whites, of course, in a bloody situation...the First Chimurenga. The second Chimurenga was fought in the years prior to the Independence in 1980. The first decade of Zimbabwe's independence saw prosperous economy and stability within the country. Mugabe himself did not reserve grudges against the whites, and he is reported to have delivered a reconciliation speech at independence. With the inception of Structural Adjustiment Programme under the IMF/World Bank, Zimbabwe failed to meet certain conditionalities the IFIs required of the country. This resulted in rising unemployment rates, inflation, as well as signs of economic shock. This raised growing opposition to change. The MDC was born, but Mugabe resisted to the needed change. To win popular suppor, he went against the whites and seized their pieces of land, thereby halting all agricultural production, which contributed nearly 80 per cent of the Zimbabwe economy.
During times of economic prosperity, some nations borrowed more money than they can pay back now in times of economic hardship.
During times of economic prosperity, some nations borrowed more money than they can pay back now in times of economic hardship.
Economic crisis is wherein there is negative GDP growth lasting for two or more quarters. It is severe recession or depression.
in July 2006
The current US Subprime economic crisis caused the stock market crash in 2008 Due to lack of liquidy people started selling off their stocks to make cash. This caused a massive selling of stocks which in turn made the market crash
An economic crisis.
passing a tariff on sugar
he finished the crisis.
During times of economic prosperity, some nations borrowed more money than they can pay back now in times of economic hardship.
A serious economic crisis
A serious economic crisis
During times of economic prosperity, some nations borrowed more money than they can pay back now in times of economic hardship.
A serious economic crisis
Yes I do believe we are in a economic crisis
yes! economic crisis
Personally, yes education is the solution to economic crisis.
cricket