Tsvangirai surveys banking chaos

Tsvangirai surveys banking chaos

TOUR: Tsvangirai is cheered by Zimbabweans waiting at a bank queue on Friday, September 26, 2008

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Posted to the web: 26/09/2008 15:24:17
ZIMBABWE'S Prime Minister-designate Morgan Tsvangirai on Friday made a surprise visit to banks in the capital Harare that were the scene of long queues resulting from cash shortages.

Some of those queuing temporarily forgot about the miseries as they cheered the Movement for Democratic Change (MDC) leader. Others said they had been in queues daily for several weeks.

"We no longer have anything to do other than to come here daily to withdraw money since the daily maximum limit is worthless," said Maureen Mashavave, who was carrying a baby on her back in a queue outside the Kingdom Bank.

Tsvangirai - accompanied by his MDC deputy Thokozani Khupe and party spokesperson Nelson Chamisa - asked people if they were happy with $1 000 as the maximum daily bank withdrawal allowed in Zimbabwe (that will be raised to $20 000 from next Monday, according to the central bank).

A loaf of bread costs at least $1 500.

He left, shaking his head, and saying he was concerned about the situation. "This is totally unpleasant and it has to be addressed as a matter of urgency."

"Hunger and problems are now gone," a bystander shouted at Tsvangirai in reference to the former union leader now being part of the government.

Cash shortages are just part of the collapse of the economy of a country that was once the breadbasket of the southern African region.

Zimbabwe's economy has been on a steep downturn for a nearly a decade with an estimated 90 per cent unemployment, shortages of electricity, food, fuel and medical drugs, and at least 80 per cent of the population living below the poverty line.

Year on year inflation, officially 11.2 million per cent - but independent economists peg it at more than 20 million per cent - is the highest in the world.

Tsvangirai and President Robert Mugabe signed a power sharing deal on September 15 aimed at reviving the country's economy. - dpa
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