Government of Zimbabwe Suspends All Stock Market Transactions

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Authorities accuse stock traders of speculating on the national currency and causing it to collapse. For two years, the economic situation has deteriorated again in the country with a depreciation of the Zimbabwean dollar, rampant inflation and a return of shortages of all kinds.

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The national currency continues to fall. Last month, a US dollar traded 25 Zimbabwe dollars, and by June 29, it is now trading more than double: 57 Zimbabwe dollars. And four times more on the black market.

In an attempt to stem this plunge , the government has banned all cell phone banking and stock market transactions. He accuses operators of speculating on the national currency and causing it to fall. An aberration, according to a former finance minister from the opposition, who believes that the government is incompetent and that it is destroying the economy. According to several economists, these measures only amplify the distrust of foreign investors, curbing investment in the country, and preventing any recovery.

However, Emmerson Mnangagwa's government had promised to improve the financial situation when it came to power two years ago. Today, he accuses his political opponents of wanting to sabotage the economy.

Meanwhile, it is the Zimbabweans who are paying the consequences. The price of bread has doubled in one month, that of gasoline has tripled. According to the UN Food Agency, 60% of the population is food insecure and the country is on the brink of starvation .

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• Zimbabwe
• Economic crisis

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