Tsvangirai presses for action on economy

Zimbabwe’s opposition leader Morgan Tsvangirai on Thursday called on “democratic forces” to forge an alliance to press President Robert Mugabe to fix the economic crisis plaguing the country.

“We are in the middle of a very serious national crisis,” the former prime minister and leader of the Movement for Democratic Change (MDC) party told a news conference.

Zimbabwe is in the throes of an economic downturn characterised by high unemployment — estimated by independent economists at around 80 percent — and dwindling national revenue.

Power shortages and a liquidity crunch have forced thousands of companies to shut down, downsize or migrate to neighbouring countries, while an indigenisation law which forced foreign companies to cede majority shares to locals scared off foreign investors.

“Unemployment has continued to spiral in the past 18 months and is now a threat to national stability,” said Tsvangirai who lost disputed elections to the long-ruling Mugabe a year-and-half ago.

Finance Minister Patrick Chinamasa recently said 4,610 companies had pulled down shutters over the past three years, resulting in over 55,000 formal job losses.

The government has been battling to pay its workers on time amid shrinking revenue collections.

Tsvangirai called on political parties, civic groups and ordinary Zimbabweans to unite and seek solutions to the economic and political woes.

“Now is the time for the broader democratic movement to unite and rally together in finding a solution to the crisis we face as a nation,” he said.

“The MDC is calling for unity of purpose by all democratic forces.”

Tsvangirai has failed to oust Mugabe in the past three elections, the veteran leader who turns 91 next month and has ruled the southern African country for nearly 35 years since independence from Britain in 1980.

The MDC, once seen as the most credible challenger to Mugabe’s Zanu-PF party, has been weakened by recent infighting and splits. AFP