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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Zimbabwe Grows For First Time In 11 Years (6486 Views)
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Re: Zimbabwe Grows For First Time In 11 Years by Beaf: 5:17pm On Jul 26, 2010 |
precap2: So the goal post moves? ![]() ![]() ![]() Why didn't we hear this about Omar Bongo? Why don't we hear it about Gaddafi (40 years), why not about Dos Santos, why not Paul Biya, how about Yoweri Maseveni and Idris Debby? . . .Fact remains that Zims economy is growing. |
Re: Zimbabwe Grows For First Time In 11 Years by igboitalo: 8:35pm On Jul 26, 2010 |
Beaf:beef i can answer that omar bongo got a fat french bank account ![]() ![]() ![]() |
Re: Zimbabwe Grows For First Time In 11 Years by igboitalo: 8:40pm On Jul 26, 2010 |
precap2:precap2 this is for u https://www.youtube.com/watch?v=8zUIjP4KWok |
Re: Zimbabwe Grows For First Time In 11 Years by precap2(m): 11:15am On Jul 27, 2010 |
Beaf: My people are a people good heart ![]() Changing from one form of currency to another to me is not a sign of good health but of decadence in another way. Zim's inflation was more than 2,000,000% two years ago and today it's 5.3%, don't you find that questionable? It defies all economic theory from Adam Smith till date. Let Mugabe get out and allow people who know what they're doing rearrange the country. Holla! |
Re: Zimbabwe Grows For First Time In 11 Years by Beaf: 2:10pm On Jul 27, 2010 |
precap2: Its a bit strange that the news of Zim's strong growth is coming out of, not just Zim, but institutions like the World Bank and the IMF. . . Now I can understand your wish to doubt news fron Zim, but why on Earth would you doubt the World Bank and the IMF? ![]() I am beginning to believe you are caught in a bit of a mind trap. You need to keep reading articles like this one, cos you are pretty smart. |
Re: Zimbabwe Grows For First Time In 11 Years by precap2(m): 2:56pm On Jul 27, 2010 |
Beaf: I know your zeal for our fellow African brothers, but my dad would always say that before work of mercy begins, the truth must be established. It's only when you get the truth that you can know the appropriate terms of mercy. Everything has terms. I don't think that either world bank or IMF has any good report about Zim's growth, but if you have link, let me read from it. Meanwhile here are some links that might give more insight: http://data.worldbank.org/data-catalog Download the appropriate spreadsheet. Even here Nigeria is at No 44 on GDP while the favored Zim is at No 143, have a look: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) This is the only thing I found that sound like what you were saying before: "However, the country has shown commitment to economic stabilisation and continuing recovery since dollarisation last year, and economic growth forecast is estimated at around 4.5 percent by year-end. An IMF visiting mission last month however called for more reforms indicating that Zimbabwe's economic outlook was still 'highly uncertain'" http://allafrica.com/stories/201007200491.html Bless ya brother Holla! |
Re: Zimbabwe Grows For First Time In 11 Years by Nobody: 3:47pm On Jul 27, 2010 |
@precap2 It seems u have bought the western propaganda hook, line and sinker! Beaf and some others here are trying to enlighten you about the need for independent thinking. Please take some time out to think about this. precap2: |
Re: Zimbabwe Grows For First Time In 11 Years by precap2(m): 6:02pm On Jul 27, 2010 |
GenBuhari: You don't understand my sentiments at all. I hate the West and everything they stand for, but I loathe brothers like Mugabe who give the West reason to think we're not making progress. A narcissist in position of power is always a huge burden. Mugabe is not doing it right. So also are most of the id.iots across sub-saharan Africa. To praise Mugabe/Tsvangirai for changing currency without improving anything is almost like praising OBJ for licensing GSM operators without providing necessary infrastructure to make things good. Must Mugabe die there? Are there no other reasonable humans in Zim? He progressively ruined the country from 1980 and you think he should be given more chance to perpetrate more ruin? I don't accept that, only I can't do much to bring a change. Holla! |
Re: Zimbabwe Grows For First Time In 11 Years by Beaf: 9:18pm On Jul 27, 2010 |
precap2: Lets start with this. IMF: In 2009, following a decade of economic decline and hyperinflation during 2007–08, policies improved significantly. The multi-currency system adopted in early 2009 helped restore price stability, restart financial intermediation, and impose fiscal discipline by precluding the option of budget deficit monetization. Budget revenue increased significantly, which helped finance improved delivery of public services, while the fiscal position was broadly balanced. Price and exchange system liberalization improved allocation of resources and availability of goods in the domestic markets. In response to better policies, short-term capital inflows and FDI increased in 2009. All these positive steps have supported a nascent economic recovery. http://www.imf.org/external/np/sec/pr/2010/pr10107.htm |
Re: Zimbabwe Grows For First Time In 11 Years by Beaf: 9:41pm On Jul 27, 2010 |
However, analysts and the International Monetary Fund (IMF) say Zimbabwe’s economic recovery remains fragile because of the government’s heavy dependence on imports at a time the country does not have access to balance-of-payments support. http://www.zimonline.co.za/Article.aspx?ArticleId=6235 No country can trade without credit. . . The above is the real reason why Zim went into a spiral. Zim can now get credit to trade from the East. |
Re: Zimbabwe Grows For First Time In 11 Years by precap2(m): 10:00pm On Jul 27, 2010 |
Beaf: I think you're your brothers' keeper truly. How can you gain access to credit when you're doing badly and unable to payback what you owed, and yet unable to stick with policies that would ensure steady growth. The IMF/WB can't lend to a degenerating economy. No one can put money where it would sink But hey! I want to quit this Zim wahala and sound like nice guy that I always am ![]() Holla! |
Re: Zimbabwe Grows For First Time In 11 Years by Beaf: 10:16pm On Jul 27, 2010 |
precap2: You are getting it wrong. To trade, you need both local and foreign banks. If foreign govts pressure their banks and international institutions to boycott your trade, that will surely "degenerate" any economy; that is what the West did to Zim, so they changed to the enemy currency, turned their backs and went East. Talking about Zim from the "other side" doesn't make you nasty. Anyways, nice talking to you. ![]() |
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