Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore, has castigated Zimbabwean President Emmerson Mnangagwa for seeking re-election with a “disastrous track record” of failing to manage the country’s economy which he said was characterised by hyperinflation.
Zimbabwe is preparing for harmonised general elections to be held on the 23rd of August this year. Mnangagwa is seeking a second term in office.
The country has entered election season during the peak of a massive economic crisis coupled by a devaluation of the local currency. The Zimbabwean dollar is trading at around ZWL10 000 against US1.
Hanke, a fierce critic of Mnangagwa, believes that the Zanu-PF leader has failed. In his 2022 Misery Index recently, Hanke revealed that Zimbabwe was the most miserable country in the world.
“Zimbabwe Pres. Mnangagwa registered to run for reelection on Wed. Under his rule, Zim entered a hyperinflation episode on June 12th and was the MOST MISERABLE COUNTRY IN THE WORLD in the Hanke 2022 Misery Index. What a disastrous track record,” he said.
Mnangagwa, however, believes that he has been doing well in the development sector. He told Zanu-PF supporters in Chipinge, two days ago, that his government had instituted a number of developmental projects.
“Zanu-PF is unstoppable. It will continue governing Zimbabwe as other parties continue to split asunder,” he told a large crowd of supporters in Chipinge, about 500 kms (311 miles) east of the capital Harare.
“We fought for our democracy, no one will stop us.”
He added: “We resolved the fuel crisis, we resolved electricity shortages. After Hwange Units 7 and 8, we are building more power stations and as we speak we no longer have load shedding.
“In a short period of time, we have grown our agriculture from a US$3,8 billion industry to US$8 billion. We transformed mining from US$3,7 billion to over US$12 billion using what we have in this country.
“As a Zimbabwean, change your mindset and start producing locally. We should not rely on imports and I know our people are talented and sharp, they are coming up with innovations to produce locally.
“In the upcoming elections vote the opposition out of urban councils. They are running down our cities and towns. The youth are our future. But that future will not be secure if our young people keep on taking drugs.
“To our candidates, including those that lost in primaries I say remain united and work for the victory of the party as we approach elections.”
Mnangagwa will face Nelson Chamisa of the Citizens Coalition for Change (CCC), independent candidate Saviour Kasukuwere and seven other presidential aspirants in the ballot.