In 1979 the white Rhodesian minority lost its stranglehold on the landlocked African nation and the UNAC won the April elections. Power-sharing arrangements shifted in the coming years and Zimbabwe began a black nation on June 12, 1979. Since that time the country has been ruled by President Mugabe, who has driven the economy of the resource-rich land to ruin.
Today the country’s finance minister announced to the press, “Last week when we paid civil servants there was $217 left in government coffers.”
I have more in my bank, but tomorrow there might be nothing, so I understand Zimbabwe’s pain, although I am ruled by the feckless foibles of Wall Street and not a demented dictator.
I don’t know what is worse, but I am only one and Zimbabwe has twelve million people.
I don’t even want to calculate how much $217 is when divided by that many.
Welcome to International Write-Off Year.