Robert Mugabe's government is failing to pay its soldiers. What this means: A small covert operation dispensing US dollars or Euros could bring down the Zimbabwean government by bribing soldiers to rebel.
HARARE (IRIN) - Uniformed Zimbabwean soldiers raided one of the capital's money-changing haunts after becoming frustrated with queuing to withdraw cash at a Harare bank, according to an IRIN correspondent who witnessed the event.
The soldiers descended on foreign currency dealers in "Roadport" in central Harare on 27 November, where they assaulted money dealers and robbed them, an indication of the low morale among Zimbabwe's rank and file soldiers.
Effectively the national currency is now useless.
Zimbabwe's official inflation annual rate is estimated at 231 million percent, but independent economists cite the inflation rate in the billions of percent; hyperinflation is causing widespread cash shortages.
Banks have set a maximum daily limit of Z$500,000 (US$0.25), creating long queues at banks each day, with no guarantee there will be any money to withdraw.
A small shove could knock over this government. Granted, overthrowing the government won't bring on a golden age. But while Africa is going to remain impoverished and backward it does not have to be as totally dysfunctional as Zimbabwe.
|Share |||By Randall Parker at 2008 December 07 01:30 PM Chaotic Regions|