Posted on 01/29/2013 3:33:05 PM PST by dynachrome
HARARE (AFP) After paying public workers salaries last week, the balance in cash-strapped Zimbabwes government public account stood at just $217, Finance Minister Tendai Biti said Tuesday.
Last week when we paid civil servants there was $217 (left) in government coffers, Biti told journalists in the capital Harare, claiming some of them had healthier bank balances than the state.
The government finances are in paralysis state at the present moment. We are failing to meet our targets.
Zimbabwes economy went into free-fall at the turn of the millennium, after President Robert Mugabe began seizing white-owned farms.
The move demolished investor confidence in the country, paralysed production, prompted international sanctions and scared off tourists.
After more than a decade in which the country suffered hyper-inflation of 231 million percent and infrastructure that crumbled as quickly as prices went up the situation is now more stable.
But public finances remain a mess and local business battles against unstable electricity supplies, lack of liquidity and high labour costs.
Zimbabwes government has warned it does not have enough money to fund a constitutional referendum and elections expected this year.
(Excerpt) Read more at en.starafrica.com ...
Exactly!
Now I finally truly understand why many call him Barack Huussein O'Mugabe.
He's intent on replicating the cluelessness of Zimbabwe's leader on a massive scale.
I never expected the producers of Zimbabwe the be the first to go Galt. Assuming they're not all dead yet.
Pics look like a Detroit comparison.
I wish I had that much money in the bank.
Now, these poor dumb bastards have Robert Mugabe and his tribe of henchmen that can't even feed themselves. Hell has a new address
Don’t worry. Sooner or later the Chinese will be in there. Then Zims can learn about REAL racism and what a REALLY harsh taskmaster is like...
That makes them at least $16,000,000,000,217 ahead of us.
In other words, Detroit with the occasional giraffe.
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