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Properly managed, Zimbabwe's wide range of resources should enable it to support continuing economic growth. The country has an important percentage of the world's known reserves of metallurgical-grade chromite. Other commercial mineral deposits include coal, asbestos, copper, nickel, gold, platinum and iron ore. The Gini coefficient is a measure of inequality developed by the Italian statistician Corrado Gini and published in his 1912 paper Variabilità e mutabilità. It is usually used to measure income inequality, but can be used to measure any form of uneven distribution. ... An 1837 political cartoon about unemployment in the United States. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... Chromite, iron magnesium chromium oxide: (Fe,Mg)Cr2O4, is an oxide mineral belonging to the spinel group. ... Coal Coal (IPA: ) is a fossil fuel extracted from the ground by coal mining, either underground mining or open-pit mining (surface mining). ... Fibrous asbestos on muscovite Asbestos Asbestos Asbestos (a misapplication of Latin: asbestos quicklime from Greek : a, not and sbestos, extinguishable) describes any of a group of minerals that can be fibrous, many of which are metamorphic and are hydrous magnesium silicates. ... General Name, Symbol, Number copper, Cu, 29 Chemical series transition metals Group, Period, Block 11, 4, d Appearance metallic pinkish red Atomic mass 63. ... General Name, Symbol, Number nickel, Ni, 28 Chemical series transition metals Group, Period, Block 10, 4, d Appearance lustrous, metallic and silvery with a gold tinge Atomic mass 58. ... General Name, Symbol, Number gold, Au, 79 Chemical series transition metals Group, Period, Block 11, 6, d Appearance metallic yellow Atomic mass 196. ... General Name, Symbol, Number platinum, Pt, 78 Chemical series transition metals Group, Period, Block 10, 6, d Appearance grayish white Atomic mass 195. ... General Name, Symbol, Number iron, Fe, 26 Chemical series transition metals Group, Period, Block 8, 4, d Appearance lustrous metallic with a grayish tinge Atomic mass 55. ...

However, its ongoing political turmoil and the world's highest rate of AIDS ^[1] infection have greatly hampered its progress. Robert Mugabe's policies towards land reform have led to internal upheaval and population displacement, high inflation, and an inability of the country to feed itself. As of mid-2006 Zimbabwe has a fast shrinking economy and the highest inflation in the world. This article is about the syndrome. ... Robert Gabriel Mugabe KCB (born February 21, 1924) is a Zimbabwean politician. ... In Zimbabwe, the question of land distribution and redistribution (land reform) is perhaps the most crucial and the most bitterly contested political issue today. ...

Rhodesia era

The Rhodesian economy experienced a modest boom in the early 1970s. Real per capita earnings for blacks and whites reached record highs, although the disparity in incomes between blacks and whites remained, with blacks earning only about one-tenth as much as whites. After 1975, however, Rhodesia's economy was undermined by the cumulative effects of sanctions, declining earnings from commodity exports, worsening guerilla conflict, and increasing white emigration. When Mozambique severed economic ties, the Ian Smith regime was forced to depend on South Africa for access to the outside world. Real gross domestic product (GDP) declined between 1974 and 1979, before full independence in 1980. An increasing proportion of the national budget (an estimated 30%-40% per year) was allocated to defense, and a large budget deficit raised the public debt burden substantially. National motto: Sit Nomine Digna (Latin: May she be worthy of the name) Official language English Capital Salisbury Political system Parliamentary system Form of government Constitutional monarchy (until 1970) Republic (March 2, 1970) - Last President John Wrathall - Prime Minister Ian Smith Area  - Total  - % water 390 580 km² 1% Population  - 1978... The Rt Hon Ian Smith, Prime Minister of Rhodesia, 1964 (official portrait) The Right Honourable Ian Douglas Smith, GCLM ID, (born April 8, 1919) was the Premier of the British Crown Colony of Southern Rhodesia from April 13, 1964 to November 11, 1965 and the Prime Minister of Rhodesia (now...

The manufacturing sector, already well-developed before the Unilateral Declaration of Independence (UDI) in 1965, was given a major stimulus by the imposition of United Nations sanctions. The sanctions obliged Rhodesian industry to diversify and create many import-substitution undertakings to compensate for loss of traditional sources of imports. Rhodesian processing of local raw materials also grew rapidly. Major growth industries included steel and steel products, heavy equipment, transportation equipment, ferrochrome, textiles, and food processing. The Unilateral Declaration of Independence (UDI) of Rhodesia (now Zimbabwe) was signed on November 11, 1965 by the white minority government of Ian Smith, whose Rhodesian Front party opposed rushed moves by the United Kingdom towards black majority rule in the then British colony. ... The United Nations (UN) is an international organization whose stated aims are to facilitate co-operation in international law, international security, economic development, social progress and human rights issues. ... International sanctions are actions taken by countries against others for political reasons, either unilaterally or multilaterally. ... The old steel cable of a colliery winding tower Steel is an alloy whose major component is iron, with carbon content between 0. ...

1980s

Following the Lancaster House Agreement in December 1979, the transition to majority rule in early 1980, and the lifting of sanctions, Zimbabwe enjoyed a brisk economic recovery. Real growth for 1980-1981 exceeded 20%. However, depressed foreign demand for the country's mineral exports and the onset of a drought cut sharply into the growth rate in 1982, 1983, and 1984. In 1985, the economy rebounded strongly due to a 30% jump in agricultural production. However it slumped in 1986 to a zero growth rate and registered negative of about minus 3% in 1987 due primarily to drought and foreign exchange crisis faced by the country. Growth in 1988-1990 averaged about 4.5%. The Lancaster House Agreement was the independence agreement for Rhodesia, now known as Zimbabwe. ... 1986 (MCMLXXXVI) was a common year starting on Wednesday of the Gregorian calendar. ...

Infrastructure and resources

Zimbabwe has adequate internal transportation and electrical power networks. Paved roads link the major urban and industrial centres, and rail lines managed by the National Railways of Zimbabwe tie it into an extensive central African railroad network with all its neighbours. In non-drought years, it has adequate electrical power, mainly generated by the Kariba Dam on the Zambezi River but augmented since 1983 by large thermal plants adjacent to the Wankie coal field. As of 2006, crumbling infrastructure and lack of spare parts for generators and coal mining means that Zimbabwe imports 40% of its power - 100 megawatts from the Democratic Republic of Congo, 200 megawatts from Mozambique and up to 450 from South Africa, and 300 megawatts from Zambia. ^[2] Zimbabwe Railway The National Railways of Zimbabwe (NRZ) operates about 3,000 km of rail in Zimbabwe at the 1. ... World map showing location of Africa A satellite composite image of Africa Africa is the worlds second_largest continent in both area and population, after Asia. ... Lake Kariba The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin in Southern Africa. ... Zambezi River in North Western Zambia The Zambezi (also spelled Zambesi) is a river in Southern Africa. ... Hwange is a city in western Zimbabwe, in the province of Matabeleland North. ...

With considerable hydroelectric power and plentiful coal deposits for thermal power stations, Zimbabwe is less dependent on oil as an energy source than most other comparably industrialized countries. Only about 15% of Zimbabwe's total energy consumption is accounted for by oil, all of which is imported. Zimbabwe imports about 1.2 billion litres per year. Dependence on petroleum is managed through the price controls for vehicle fuels, the use of gasohol, and the substitution of diesel-electric locomotives on the railway system. Zimbabwe also has substantial coal reserves that are utilized for power generation, and recently discovered in Matabeleland province are coalbed methane deposits greater than any known natural gas field in Southern or Eastern Africa. In recent years, poor economic management and low foreign currency reserves have led to serious fuel shortages. Hydroelectric dam diagram The waters of Llyn Stwlan, the upper reservoir of the Ffestiniog Pumped-Storage Scheme in north Wales, can just be glimpsed on the right. ... Matabeleland is a region in the west and south-west of Zimbabwe, between the Limpopo and Zambezi rivers. ...

The telephone service is problematic, and new lines are difficult to obtain.

Agriculture was once the backbone of the Zimbabwean economy. Due to largescale eviction of white farmers and the government's land reform efforts, this is no longer the case. ^[3] Reliable crop estimates are not available due to the Zimbabwe government's attempts to hide the realities following the evictions. The ruling party went as far as banning maize imports, stating record crops for the year of 2004^[4]

Before the farm evictions, Maize was the largest crop. Tobacco was the largest export crop followed by cotton. Poor government management has exacerbated meager harvests caused by drought and floods, resulting in significant food shortfalls beginning in 2001. The land redistribution has been generally condemned in the developed world. It has found considerable support in Africa and a few supporters among African-American activists, but Jesse Jackson commented during a visit to South Africa in June 2006, "Land reform has long been a noble goal to achieve but it has to be done in a way that minimises trauma. The process has to attract investors rather than scare them away. What is required in Zimbabwe is democratic rule, democracy is lacking in the country and [that] is the major cause of this economic melt down." Corn redirects here. ... Species Nicotiana acuminata Nicotiana alata Nicotiana attenuata Nicotiana benthamiana Nicotiana clevelandii Nicotiana excelsior Nicotiana forgetiana Nicotiana glauca Nicotiana glutinosa Nicotiana langsdorffii Nicotiana longiflora Nicotiana obtusifolia Nicotiana paniculata Nicotiana plumbagifolia Nicotiana quadrivalvis Nicotiana repanda Nicotiana rustica Nicotianasuaveolens Nicotiana sylvestris Nicotiana tabacum Nicotiana tomentosa Ref: ITIS 30562 as of August 26, 2005... Cotton ready for harvest. ... Jesse Louis Jackson (born October 8, 1941) is an American politician, civil rights activist, and Baptist minister. ...

Effects of political turmoil on the economy

In recent years, poor management of the economy and political turmoil has led to considerable economic hardship. The Government of Zimbabwe's chaotic land reform program, recurrent interference with, and intimidation of, the judiciary, as well as maintenance of unrealistic price controls and exchange rates has led to a sharp drop in investor confidence. Robert Gabriel Mugabe KCB (born February 21, 1924) is a Zimbabwean politician. ... In Zimbabwe, the question of land distribution and redistribution (land reform) is perhaps the most crucial and the most bitterly contested political issue today. ...

On 1 November 1989 a former junior government minister in Rhodesia-Zimbabwe, Denis Walker, produced a paper in London for the Conservative Monday Club's Foreign Affairs Committee on Land Reform in Zimbabwe. In his last paragraph he stated that "once the land has been redistributed, the commercial farms will be broken up, the remaining white farmers reduced by exile or imprisonment; Zimbabwe's government, already morally bankrupt, will decline towards economic collapse." WILFRED DENIS WALKER (born in east London before 1945) was a Methodist missionary in southern Africa, who left the mission to settle as a minor industrialist in Bulawayo, Rhodesia. ... The Conservative Monday Club (widely known as the Monday Club) is a British right-wing [1] pressure-group with its origins in the Conservative Party. ...

Since 2000, the national economy has contracted by as much as 40%; inflation has vaulted to over 1000%, and there have been persistent shortages of foreign exchange, local currency, fuel, and food.

Direct foreign investment has all but evaporated. Billions were spent in the country's involvement in the war in the Democratic Republic of the Congo. Price controls have been imposed on a wide range of products including food (maize, bread, steak), fuel, medicines, soap, electrical appliances, yarn, window frames, building sand, agricultural machinery, fertilisers and school textbooks. Corn redirects here. ...

Robert Mugabe has repeatedly denied charges that his policies have been responsible for the economic crisis. He and his supporters maintain that the economic hardships have been brought about by Western "economic" sanctions. ^[5] However, the only sanctions in place are personal sanctions against senior Zanu-PF figures; there are no sanctions against trade or investment with Zimbabwe. Robert Gabriel Mugabe KCB (born February 21, 1924) is a Zimbabwean politician. ...

As of February 2004, Zimbabwe's foreign debt repayments ceased, resulting in compulsory suspension from the International Monetary Fund (IMF). This, and the United Nations World Food Programme stopping its food aid due to insufficient donations from the world community, has forced the government into borrowing from local sources. The International Monetary Fund (IMF) is an international organization that oversees the global financial system by observing exchange rates and balance of payments, as well as offering financial and technical assistance when requested. ... The United Nations (UN) is an international organization whose stated aims are to facilitate co-operation in international law, international security, economic development, social progress and human rights issues. ...

Zimbabwe has experienced severe foreign exchange in recent years, exacerbated by the difference between the official rate and the black market rate. In 2004 a system of auctioning scarce foreign currency for importers was introduced, which temporarily led to a slight reduction in the foreign currency crisis, but by mid 2005 foreign currency shortages were once again chronic. The currency was devalued by the central bank twice, first to 9,000 to the US$, and then to 17,500 to the US$ on 20 July, 2005, but at that date it was reported that that was only half the rate available on the black market. This article or section does not cite its references or sources. ...

In July 2005 Zimbabwe was reported to be appealing to the South African government for US$ 1 billion of emergency loans, but despite regular rumours that the idea was being discussed no financial support has been obtained from South Africa.

The official Zimbabwean dollar exchange rate has been frozen at Z$101,196 per U.S. dollar since early 2006, but as of 27 July 2006 the parallel (black market) rate has reached 550,000 per U.S. dollar. By comparison, 10 years ago, the rate of exchange was only Z$9.13 per USD. ISO 4217 Code ZWD User(s) Zimbabwe Inflation 1070. ... July 27 is the 208th day (209th in leap years) of the year in the Gregorian Calendar, with 157 days remaining. ...

In August 2006, The RBZ revalued the Zimbabwean Dollar by 1000 ZWD to 1 (revalued) Dollar. At the same time, Zimbabwe devalued the Zim Dollar by 60% against the US Dollar. New official exchange rate revalued ZWD 250 per USD. The parallel market rate was about revalued ZWD 1,200 to 1,500 per USD (28 Sept 2006). ^[6]

In November 2006, it was announced that sometime around December 01, there would be a further devaluation and that the official exchange rate would change to revalued ZWD 750 per USD. ^[7] This never did materialize. However the parallel market immediately reacted to this news, with the parallel rate falling to ZWD 2,000 per USD (18 Nov 2006) ^[8] and by year end it had fallen to ZWD 3,000 per USD. ^[9]

On Feb 11, 2007 , it was reported that the parallel market was asking ZWD 5,000 for $1 USD. ^[10]

For more details, please see Zimbabwean dollar. This article or section does not cite its references or sources. ... ISO 4217 Code ZWD User(s) Zimbabwe Inflation 1070. ...

Poverty and Unemployment are both endemic in Zimbabwe, driven by the shrinking economy and hyper-inflation. Both unemployment and poverty rates run near 80%. As of January 2006, the poverty line was ZWD 17,200 per month. As of February 2007, this had risen to ZWD 566,400 per month (US $113), while the average wage was under ZWD 100,000 per month (US $20). [6]

The lowest 10% of Zimbabwe's population consume only 1.97% of the economy while the highest 10% consume 40.42%. The current account balance is negative. (US $-517 million)

Energy

References

1. ^ http://www.worldpress.org/Africa/770.cfm
2. ^ http://www.news24.com/News24/Africa/Zimbabwe/0,,2-11-1662_1996209,00.html
3. ^ http://www.geographyiq.com/countries/zi/Zimbabwe_economy_summary.htm
4. ^ http://www.newfarm.org/international/news/2005/020105/0210/zimbabwe_crops.shtml
5. ^ http://za.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2006-01-10T123209Z_01_ALL032711_RTRIDST_0_OZABS-ECONOMY-ZIMBABWE-INFLATION-20060110.XML&archived=False
6. ^ http://www.zimbabwesituation.com/sep29b_2006.html#Z14
7. ^ http://www.zimbabwesituation.com/nov17_2006.html#Z12
8. ^ http://www.zimbabwesituation.com/nov19_2006.html#Z3
9. ^ http://www.zimbabwesituation.com/jan5a_2007.html#Z13
10. ^ http://www.zimbabwesituation.com/feb12_2007.html#Z5

• Zim Budget puts govt $253 trillion in the red [7] 2006-07-27
• Yahoo Business News - Zimbabwe inflation hits new high [8] 2006-09-15

See also

• Economy of Africa

The economy of Africa consists of the trade, industry, and resources of the peoples of Africa. ...

External links

• CIA World Fact Book
• MBendi Zimbabwe overview

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United Kingdom WTO redirects here. ... Image File history File links Download high-resolution version (1357x628, 17 KB)World map of World Trade Organization (WTO) members/non-members, 2005; based on Image:BlankMap-World-v2. ... Economy - overview: Antigua and Barbudas economy is service-based, with tourism and government services representing the key sources of employment and income. ... According to the 2006 Index of Economic Freedom published by the Heritage Foundation and the Wall Street Journal, Bahrain has the freest economy in the Middle East and is twenty-fifth overall in the world. ... The Asian financial crisis in 1997 and 1998, coupled with fluctuations in the price of oil have created uncertainty and instability in Bruneis economy. ... Burkina Faso is one of the poorest countries in the world with an average income per capita of €250 (US$300). ... Economy - overview: The Central African Republic is classified as one of the worlds least developed countries, with an annual per capita income of $310 (2000). ... To meet Wikipedias quality standards, this article or section may require cleanup. ... The Ivorian economy is largely market based and depends heavily on the agricultural sector. ... Sparsely populated in relation to its area, the Democratic Republic of the Congo is home to a vast potential of natural resources and mineral wealth, yet the economy of the DROC has declined drastically since the mid-1980s. ... The Dominican Republic is a middle-income developing country primarily dependent on agriculture, trade, and services, especially tourism. ... // Overview The Salvadoran economy continues to benefit from a commitment to free markets and careful fiscal management. ... The European Union has the worlds largest economy, larger than that of the United States of America with a 2005 GDP of 12,865,602 million vs. ... Economy - overview: The breakup of Yugoslavia in 1991 deprived F.Y.R.O.M. (Former Yugoslav Republic of Macedonia), then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. ... Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. ... Economy - overview: Guinea-Bissau is among the worlds least developed nations and one of the 20 poorest countries in the world, and depends mainly on agriculture and fishing. ... Other Hong Kong topics Culture - Education Geography - History - Politics Hong Kong Portal The economy of Hong Kong is widely believed to be the economically freest in the world. ... Currency 1 South Korean Won (W) = 100 Jeon(Chŏn) (theoretical) Fiscal year Calendar year Trade organisations APEC, WTO and OECD Statistics [1] GDP ranking 10th by volume (at nominal) (2005); 14th by volume (at PPP) (2005); GDP (Nominal) $801. ... The economy of Kyrgyzstan was severely affected by the collapse of the Soviet trading block. ... The economy of Macau is based largely on tourism (including gambling) and textile and fireworks manufacturing. ... // Economic Profile Since 1984 the government of New Zealand has accomplished major economic restructuring, moving an agrarian economy dependent on concessionary British market access toward a more industrialized, free market economy that can compete globally. ... Overview Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. ... Saint Kitts and Nevis was the last sugar monoculture in the Eastern Caribbean. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... A per capita GDP of $340 ranks Solomon Islands as a lesser developed nation. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... // With an economy of $80. ... Dr. Sun Yat-Sen decorates a 100NT bill. ... Trinidad and Tobago experienced a real growth rate of 3. ... Prior to the first exports of oil in 1962, the United Arab Emirates economy was dominated by pearl production, fishing, agriculture, and herding. ... The United States has the largest national economy in the world, with a GDP for 2006 of 12. ... The economy of Venezuela is still based on oil, although efforts have been made to develop heavy industry, e. ... The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. ...