Finance minister: Zimbabwe has $217 left in the bank

From Foreign Policy Tue Jan 29 2013, 13:06:54

Though economic conditions have improved in Zimbabwe since the days of 231 million percent inflation, this week brought some pretty disturbing news

After paying public workers' salaries last week, the balance in cash-strapped Zimbabwe's 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."

[view whole blog post ]
 See More    |     Report Abuse

People and Organizations:


You might also be interested in the following news stories:

Ghana:   Economic Woes Front and Centre in Election Campaign (news)
Radio France Internationale
4 December 2016

The economy is at the forefront of Ghanaians' minds as they prepare to go to the polls for presidential and parliamentary elections on 7 December. Economic growth has halved since the last election in ... [read more]

Nigeria:   How Secret Police 'Tortured' Man to Death, Then Paid Family to Keep Quiet (news)
Premium Times
4 December 2016

After "torturing" a man to death, Nigeria's secret police, SSS, exploited the influence of the Oba of Lagos, Rilwan Akiolu, to pay a paltry N15 million compensation to the victim's family, PREMIUM ... [read more]

Algeria:   Algeria Roots for Africa's Integration Opportunities (news)
The East African
4 December 2016

After Morocco and Tunisia, Algeria has entered the economic race to reconquer the African market. For three days, the Maghreb state is hosting a forum dedicated exclusively to investments and African ... [read more]



blogAfrica is allAfrica.com's platform to help you keep an ear on the African blogosphere. We draw diverse voices from around the world who post regularly and insightfully about African issues. Bloggers, submit your blog's rss-feed!