Panic buying as Zanu (PF) wins

07.08.13  by Staff Reporter | The Zimbabwean

Fearing the implications of a victory for President Robert Mugabe’s Zanu (PF), urban dwellers in and around Harare have been stocking up on basic commodities.

Citizens from mostly urban areas said victory for Mugabe’s party had the potential to plunge the country’s economic fortunes back to the 2008 era.

Shoppers stock up on basic goods

Shoppers stock up on basic goods

A woman at Avondale shopping centre only identified as Dadirai said: “If it is true that Zanu (PF) is going to emerge the winner of this election, then we might as well brace ourselves for empty stomachs”.

Addressing journalists at Harvest House today, leader of the MDC-T, Morgan Tsvangirai, warned that because of the shoddy manner in which the election had been conducted, the outcome had the potential to “plunge the country into a serious crisis”.

Dadirai said victory for Mugabe confirmed her worst fears, the bringing back of the local currency.

In recent campaigning speeches, Mugabe indicated that if elected back into power, he would work towards ensuring the return of the local currency.

“We have already sat down with the reserve bank governor Gideon Gono to find ways of ensuring that our local currency gains value,” said Mugabe at the launch of the party’s election manifesto at Zimbabwe Grounds in Highfield, Harare.

He indicated that the return of the local currency would be a process.

Another shopper, Shadreck Hwada, expressed concern that because Zanu (PF) was in the habit of changing things ‘overnight’, the possibility of ‘waking up’ to a local currency was very high.

“The party is a law unto themselves and I fear that we are going to revert back to the 2008 era. Better safe than sorry, I am stocking up on food supplies,” he said.

via Panic buying as Zanu (PF) wins | The Zimbabwean.

COMMENTS

WORDPRESS: 4
  • comment-avatar
    reason 7 years ago

    Well as a matter of record everything is normal in Zimbabwe, Maybe you need to be reminded that our recovery started whilst the sanctions were in place and the sanctions are still there, so really
    the path which Zimbabwe has been following is brighter, with or without the EU AND USA sanctions in place. The good thing is the country is not accruing any Foreign debt from IMF and EU Loans. Any indication that the country does not really need the Monsters to survive.

    • comment-avatar
      Peter Macklyn 7 years ago

      It’s Morgan that got Zimbabwe back to normal after mugs destroyed it, and that was during the “TARGETED SANCTIONS”

    • comment-avatar

      IIndeed it does not have to accrue foreign debts simply because it has accrued enough already. Thank the Unity Gvnment which restored the economy and put in place an acceptable re-payment scheme. So the MDC toiled to re-store the economy and now zanu boast that Zimbabwe does not need to borrow! “Kukama mukaka wakakora kare chokwadi.” Such is life!

  • comment-avatar

    There is a problem and an opportunity with the reintroduction of the Zim dollar. When this happens there will inevitably be a discrepancy between the official rate and the street rate of the Zim dollar. (The street rate is determined by reality and supply and demand; the official rate is governed by the whims of Gidn Gn and his cronies, who intend to profiteer by it.) That means the ordinary citizen is obliged to change his money at the street rate, which is much worse than the official rate. This is a problem.
    On the other hand ZanuPf cronies can change money on the street at the street rate and then change it back at the Bank at the official rate and make millions in the process. For them it is an opportunity.
    This explains the half-finished mansions all over Harare and their desperate desire to recreate the conditions which allowed them to start building them.
    Incidentally the only difference between counterfeiting and inflation is that it is called counterfeiting if it is done by an private individual and inflation if it is done by a member of government.