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New Fiscal Rules Will Produce Discipline And A Confidence Shock In Zimbabwe

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Zimbabwe’s new President Emmerson Mnangagwa, like his predecessor Robert Mugabe, claims that economic sanctions have crippled Zimbabwe’s national development. What nonsense. Robert Mugabe and the current governing party ZANU-PF have made Zimbabwe into an economic basket case. Indeed, the ruling […]


Mugabe Out, Mnangagwa In, Inflation Down – Current Annual Rate 32%

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Robert Mugabe’s 27-year reign of lawlessness, corruption, and incompetence came to an end late November 2017, after a “soft coup” engineered by Emmerson Mnangagwa (aka “the Crocodile”) successfully unseated the aged dictator. Since then, inflation expectations in Zimbabwe have fallen […]


Mugabe Out, Mnangagwa In, Inflation Down

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Robert Mugabe’s 27-year reign of lawlessness, corruption, and incompetence came to an end late November 2017, after a “soft coup” engineered by Emmerson  Mnangagwa (aka “the Crocodile”) successfully unseated the aged dictator. Since then, inflation expectations in Zimbabwe have fallen […]


US Calls For ‘Genuine Transition’ In Zimbabwe As Mugabe Resigns

Update: During a small roundtable with State Department reporters late Monday, Acting Assistant Secretary of State for African Affairs Donald Yamamoto urged the Zimbabwe military to implement “real, genuine, economic [and] political reforms" and to ensure elections scheduled to be helpd next year are fair and transparent. The message came hours before Zimbabwe's parliament speaker […]


Zimbabwe President Robert Mugabe Resigns

Zimbabwe’s Speaker of Parliament Jacob Mudenda had barely finished reading the rules and regulations of how impeachment proceedings would proceed against President Robert Mugabe when the 93-year-old leader and former revolutionary surprised his colleagues by officially resigning the presidency – something he had been reluctant to do even after the military placed him under house […]


Zimbabwe Military Says Mugabe Impeachment Process Has Begun

Zimbabwe President Robert Mugabe baffled his country and the world last night when, instead of publicly announcing his resignation, he reaffirmed his intention to stay on as the head of state in Zimbabwe, and admonished members of his ruling ZANU PF party for their “arbitrary decision making” and “victimization.” Mugabe’s defiance immediately spurred conspiracy theories, […]


Mugabe Admits ‘Mistakes’, But Refuses To Resign In Defiant Speech

Update 8:  Bloomberg is reporting that Zimbabwe’s ruling party will proceed Monday with its plans to impeach President Robert Mugabe after the long-term leader refused to resign Sunday evening, as was expected. Bloomberg's sources said Mugabe’s speech, including a vow to preside over the party conference in December, deviated from an earlier agreement with military […]


Watch Live: Mugabe Agrees To Step Down, Ending Historic 37-Year Reign

Update 5: Here's the live feed for Mugabe's speech, which is being broadcast on the state TV channel: * * * Update 4: Reuters is reporting that Robert Mugabe has reluctantly agreed to resign the presidency of Zimbabwe after 37 years in power. His decision comes after members of his own party voted to oust […]


“The President Is Gone” – Zimbabwe Ruling Party Officially Ousts Mugabe

A day after thousands of demonstrators took to the streets of Harare to celebrate the imminent removal of Robert Mugabe, the country’s 93-year-old dictator who’d been effectively deposed during a surprise coup earlier this week, the country’s ruling party has officially voted to remove him from office and install his former deputy, Emmerson Mnangagwa, as […]


Zimbabwe: Reports That All Ten Branches Of Mugabe’s Zanu PF Party Passed No Confidence Votes

NewsDay, the privately-owned Zimbabwe newspaper, is reporting that all the provincial branches of President Mugabe’s party have passed votes of no confidence in his leadership. In a dramatic twist of events, all the ten Zanu PF provinces have passed a vote of no confidence on President Robert Mugabe, and declared the 93 year-old leader – […]


Zimbabwe Stock Market Crashes – What Happens After Mugabe?

In the last two days, the Zimbabwe stock market has crashed almost 10% as a 'not-military-coup' has ousted 93-year-old President Mugabe – the question is, what happens next? Bloomberg reports that Zimbabwe President Robert Mugabe’s refusal to publicly resign is stalling plans by the military to swiftly install a transitional government after seizing power on Wednesday, […]


Zimbabwe’s Military Seizes Power, Holds President Mugabe

We noted yesterday that Zimbabwe military commander, General Constantino Chiwenga, said on state television that he was not launching a military coup, while Mugabe and his family were safe, they were targeting criminals around the Mugabe family and the situation will return to normal soon. Well, that changed fast and with events fluid, the latest […]


Zimbabwe Military Commander Denies Coup: Only “Targeting Criminals That Cause Economic Suffering In The Country”

Update: News24 reports that Zimbabwe military commander Chiwenga says on state television that this is not a military coup. Chiwenga goes to say that the military will bring to justice those who are responsible for "social and economic suffering in the country," that Mugabe and his family are safe, and they are targeting "criminals" around […]


Zimbabwe ‘Coup’ Escalates: US State Dept Warns Citizens “Shelter In Place”, Gunfire Heard Near Mugabe’s Private Residence

Update: AFP reports that gunfire was heard close to Mugabe's private residence. *  *   * As we detailed earlier, following at least three explosions across Zimbabwe's capital city tonight – following what appears to be the start of a military coup as tanks rolled in – the US embassy in Harare has been closed. Additionally, […]


Zimbabwe ‘Coup’ Escalates: US Embassy Closes, Explosions Rock Harare, Military Seize State Broadcaster

Following at least three explosions across Zimbabwe's capital city tonight – following what appears to be the start of a military coup as tanks rolled in – the US embassy in Harare has been closed. Additionally, reports state that troops have deployed on the streets and have seized the state broadcaster. As we detailed earlier, […]