Editing Economy of Zimbabwe (section)

=== Post-Government of National Unity: 2013–2020 ===
Following ZANU-PF's landslide electoral victory in the [[Zimbabwean general election, 2013|2013 general elections]], [[Patrick Chinamasa]] was appointed finance minister.  Policies encouraging the [[Indigenisation and Economic Empowerment Act|indigenisation]] of the economy were fast tracked and laws requiring that 51% or more of non-black Zimbabwean owned companies had to be handed over to black Zimbabweans were implemented.  This has been credited with creating further uncertainty in the economy and negatively impacting investment climate in the country. Although legislation dealing with the indigenisation of the Zimbabwean economy has been in development since 2007 and actively initiated by ZANU-PF in 2010 the policy has continued to be accused of being unclear and a form of "[[racketeering]] by regulation."<ref name="ZimIndpendentIndig">{{cite web|url=http://www.zimbabwesituation.com/news/zimsit_indigenisation-now-a-mess/|title=Indigenisation now a mess|date=23 May 2014|publisher=[[The Zimbabwe Independent]]|access-date=25 May 2014|archive-date=25 May 2014|archive-url=https://web.archive.org/web/20140525200441/http://www.zimbabwesituation.com/news/zimsit_indigenisation-now-a-mess/|url-status=live}}</ref>  The government doubled the civil service and embarked on what the Economist described as "...misrule and dazzling corruption."<ref name="Economist072016" />

In April 2014, Chinamasa admitted that the country was heavily in debt and that the country needed to better attract foreign direct investment.<ref name="HeraldDebt">{{cite news|url=http://www.herald.co.zw/debt-overhang-deters-funding-as-govt-plots-strategies-to-attract-investors/|title=Debt overhang deters funding . . . as Govt plots strategies to attract investors|date=24 April 2014|newspaper=[[The Herald (Zimbabwe)|The Herald]]|access-date=21 May 2014|archive-date=23 November 2020|archive-url=https://web.archive.org/web/20201123162342/https://www.herald.co.zw/debt-overhang-deters-funding-as-govt-plots-strategies-to-attract-investors/|url-status=live}}</ref>  Officially Zimbabwe's debt is $7 billion, or over 200% of the country's GDP.  However, this figure is disputed, with figures as high as $11 billion being quoted, once debts to other African countries and China are included.<ref name="Disempowerment">{{cite web|url=http://www.zimbabwesituation.com/news/zimsit_disempowerment-of-blacks-by-blacks-part1/|title=Disempowerment of blacks by blacks (Part1)|date=13 May 2014|publisher=New Zimbabwe|access-date=21 May 2014|author=Yamamoto, Ken|archive-date=30 November 2020|archive-url=https://web.archive.org/web/20201130020243/https://www.zimbabwesituation.com/news/zimsit_disempowerment-of-blacks-by-blacks-part1/|url-status=live}}</ref>  As of May 2014, it has been reported that Zimbabwe's economy was in decline following the period of relative economic stability during the Government of National Unity. It is estimated that Zimbabwe's manufacturing sector requires an investment of roughly US$8 billion for working capital and equipment upgrades.<ref name="2014collapse">{{cite web|url=http://www.zimbabwesituation.com/news/zimsit_zimbabwes-economic-collapse-alarms-business/|title=Zimbabwe's economic collapse alarms business|date=20 May 2014|publisher=Daily News Live|access-date=21 May 2014|author=Majaka, Ndakaziva|archive-date=21 May 2014|archive-url=https://web.archive.org/web/20140521181153/http://www.zimbabwesituation.com/news/zimsit_zimbabwes-economic-collapse-alarms-business/|url-status=live}}</ref>

In 2016 [[Tendai Biti]], an opposition politician estimated the government was running a deficit of up to 12% of GDP<ref name="Economist072016" /> and Zimbabwe began experiencing a significant shortage of US dollars partly due to a consistent [[Balance of trade|trade deficit]].<ref name=":0">{{Cite web|url=http://www.iol.co.za/business/news/zimbabwe-threatens-to-cancel-licenses-2031916|title=Zimbabwe threatens to cancel licenses {{!}} IOL|website=iol.co.za|access-date=2016-06-08|archive-date=2016-10-14|archive-url=https://web.archive.org/web/20161014151143/http://www.iol.co.za/business/news/zimbabwe-threatens-to-cancel-licenses-2031916|url-status=live}}</ref> This prompted the Zimbabwean government to limit cash withdrawals from banks and change [[Foreign exchange controls|exchange-control]] regulations in order to try to promote exports and reduce the currency shortage.<ref name=":0" /><ref>{{Cite web|url=https://www.theatlantic.com/international/archive/2016/05/zimbabwe-money/481518/|title=Zimbabwe's Own U.S. Dollar Bills|last=Vasilogambros|first=Matt|website=The Atlantic|date=6 May 2016|language=en-US|access-date=2016-06-08|archive-date=2016-06-17|archive-url=https://web.archive.org/web/20160617005559/http://www.theatlantic.com/international/archive/2016/05/zimbabwe-money/481518/|url-status=live}}</ref> In June and July 2016, after Government employees had not been paid for weeks, police had set up road blocks to coerce money out of tourists and there were protests throughout Zimbabwe,<ref>{{cite news|url=https://www.thetimes.com/world/us-world/article/from-our-correspondent-mugabenomics-means-shopkeepers-have-to-cope-with-seven-currencies-88ctd2gvj|title=Shopkeepers struggle with 'multicurrency' Mugabenomics|last=Raath|first=Jan|date=2016-06-27|newspaper=[[The Times]]|access-date=2016-07-25|url-access=subscription|archive-date=2016-08-07|archive-url=https://web.archive.org/web/20160807175000/http://www.thetimes.co.uk/article/from-our-correspondent-mugabenomics-means-shopkeepers-have-to-cope-with-seven-currencies-88ctd2gvj|url-status=live}}</ref><ref>{{cite news|url=https://www.thetimes.com/world/article/mugabe-at-war-with-militias-that-keep-him-in-power-kbldr7v8l|title=Mugabe at war with militias that keep him in power|last1=Raath|first1=Jan|last2=Graham|first2=Stuart|date=2016-07-25|newspaper=[[The Times]]|access-date=2016-07-25|url-access=subscription|archive-date=2020-06-29|archive-url=https://web.archive.org/web/20200629200450/https://www.thetimes.co.uk/edition/world/mugabe-at-war-with-militias-that-keep-him-in-power-kbldr7v8l|url-status=live}}</ref>  [[Patrick Chinamasa]], the finance minister, toured Europe in an effort to raise investment capital and loans, admitting "Right now we have nothing."<ref name="Economist072016" /> In August 2016 the government announced that it would be laying off 25,000 civil servants (8% of the country's 298,000 civil servants), cut the number of embassies and diplomatic expenses and cut ministerial expenses in an attempt to save $4 billion in annual wages and secure help from the World Bank and the IMF.<ref>{{cite news|url=https://www.thetimes.com/uk/politics/article/mugabe-fires-25-000-state-workers-tq8lcf0qz|title=Mugabe fires 25,000 state workers|last=Raath|first=Jan|date=2016-09-09|newspaper=[[The Times]]|access-date=2016-09-09|archive-date=2018-11-16|archive-url=https://web.archive.org/web/20181116082306/https://www.thetimes.co.uk/edition/world/mugabe-fires-25-000-state-workers-tq8lcf0qz|url-status=live}}</ref>

At the same  time, the government sought to improve women's access to microfinance via the [[Zimbabwe Women Microfinance Bank]] Limited, which began operations 29 May 2018.<ref name=":4">{{Cite news|url=http://allafrica.com/stories/201806070232.html|title=Zimbabwe: Women's Bank Finally Commences Operations|date=2018-06-07|work=263Chat (Harare)|access-date=2018-06-08|archive-date=2018-06-09|archive-url=https://web.archive.org/web/20180609144538/http://allafrica.com/stories/201806070232.html|url-status=live}}</ref> The Bank operates under the supervision of the [[Ministry of Women's Affairs, Gender and Community Development (Zimbabwe)|Ministry of Women's Affairs, Gender and Community Development]].<ref name=":4" /><ref>{{Cite web|url=http://www.zbc.co.zw/zim-womens-microfinance-bank-opens/|title=Zim Women's Microfinance Bank opens {{!}} ZBC News Online|website=zbc.co.zw|language=en-US|access-date=2018-06-08|archive-date=2018-06-12|archive-url=https://web.archive.org/web/20180612144359/http://www.zbc.co.zw/zim-womens-microfinance-bank-opens/|url-status=live}}</ref>

==== Re-adoption of the Zimbabwe Dollar ====
In mid-July 2019 inflation had increased to 175% following the adoption of a new Zimbabwe dollar and banning the use of foreign currency thereby sparking fresh concerns that the country was entering a new period of hyperinflation.<ref>{{Cite web|url=https://www.businesslive.co.za/bd/world/africa/2019-07-15-zimbabwes-inflation-doubles-up-to-175/|title=Zimbabwe's inflation doubles up to 175%|last=Samaita|first=Kevin|date=15 July 2019|website=BusinessLIVE|language=en-ZA|access-date=2019-07-16|archive-date=2019-07-16|archive-url=https://web.archive.org/web/20190716095322/https://www.businesslive.co.za/bd/world/africa/2019-07-15-zimbabwes-inflation-doubles-up-to-175/|url-status=live}}</ref><ref>{{Cite web|url=https://www.aljazeera.com/ajimpact/inflation-figures-zimbabwe-raise-spectre-troubled-times-190715175224038.html|title=Could new figures forecast hyperinflation for Zimbabwe?|last=Muronzi|first=Chris|date=16 July 2019|website=aljazeera.com|access-date=2019-07-16|archive-date=2019-07-16|archive-url=https://web.archive.org/web/20190716095317/https://www.aljazeera.com/ajimpact/inflation-figures-zimbabwe-raise-spectre-troubled-times-190715175224038.html|url-status=live}}</ref>  The Zimbabwean government stopped releasing inflation data in August 2019.<ref name=":6">{{Cite web|url=https://www.aljazeera.com/ajimpact/conceal-burn-zimbabwe-withholding-official-inflation-data-190801203007842.html|title=Conceal the burn: Zimbabwe is withholding official inflation data|website=aljazeera.com|access-date=2019-09-22|archive-date=2020-07-31|archive-url=https://web.archive.org/web/20200731014503/https://www.aljazeera.com/ajimpact/conceal-burn-zimbabwe-withholding-official-inflation-data-190801203007842.html|url-status=live}}</ref>  The year-on-year inflation rate was 521% in December 2019, but Zimbabwe central bank officials said in February 2020 that they hoped to reduce the figure to 50% by the end of December 2020.<ref>{{Cite news|author=Godfrey Marawanyika|url=https://www.bloomberg.com/news/articles/2020-02-17/zimbabwe-sees-annual-inflation-dropping-tenfold-in-12-months|publisher=Bloomberg|date=February 17, 2020|title=Zimbabwe Sees Annual Inflation Dropping Tenfold in 12 Months|access-date=2020-03-15|archive-date=2020-03-18|archive-url=https://web.archive.org/web/20200318074409/https://www.bloomberg.com/news/articles/2020-02-17/zimbabwe-sees-annual-inflation-dropping-tenfold-in-12-months|url-status=live}}</ref>