Opposition in Zimbabwe begins to demonstrate against the government in the face of deteriorating economic situation

Photo: Reuters / Philimon Bulawayo

Zimbabwe's main opposition party will hold national rallies today to protest the worsening economic situation.

Some local media reported that opposition leader Nelson Chamisa would call for the formation of a "transitional authority". This follows a previous report by the state broadcaster that the opposition could "force a constitutionally elected government to give power."

Zimbabwe's economy suffers from decades of economic mismanagement. Although long-time dictator Robert Mugabe was overthrown by a coup 12 months ago, his replacement, Mugabe's former right-hand man, Emerson Mnangagwa, has failed to take the country out of its economic malaise. Now, ordinary Zimbabweans are facing a shortage of basic necessities and soaring prices.

The country desperately needs international credits to service an external debt of $ 18 billion. Many major creditors, including the IMF and the World Bank, refuse to offer their support, as Zimbabwe has to repay $ 1.6 billion in late debt.

The increased instability caused by violent protests and a possible push for a power-sharing agreement risks further ostracizing investors. No end is in sight for the economic difficulties of this country.

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