Zimbabwe Economy Takes Another Dive

By FARAI MUTSAKA, Associated Press, Seattle Post-Intelligencer: Business
Wed, 08/20/2014 - 4:10pm

HARARE, Zimbabwe (AP) — It is 4 a.m. and people are already lining up outside Zimbabwe's main passport office — four hours ahead of opening time — in hopes of securing a passport that will allow them to escape their country's dearth of opportunities and search for work abroad. Zimbabwe's unemployment rate is estimated at 80 percent, pushing many people try to earn a living as street traders. Mugabe's victory ended an uneasy power-sharing deal with the opposition, but foreign investors have been deterred by concerns about corruption and government policies to force foreign-owned and white-owned businesses to cede 51 percent of their shares to black Zimbabweans. "There is a high demand for passports in Zimbabwe as people are leaving to escape the economic crisis the country is facing," Registrar General Tobaiwa Mudebe, who heads the passport department, told a parliamentary committee in July. The government, which has blamed economic woes on Western sanctions, adopted the U.S.

Topics: harare zimbabwe ap it mugabe zimbabweans registrar general tobaiwa mudebe july western u.s zimbabwe passport percent people escape government country economic

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Zimbabwe Economy Takes Another Dive

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