By Peter Godwin, March 25, 2008
Once it was Africa's shining city on a hill, a beacon of prosperity and economic growth in the gloom of a continent shrouded by poverty. Emerging in 1980 from a seven-year civil war against white settler rule, the newly independent nation of Zimbabwe embraced racial reconciliation and invited the country's whites (one in 20 of the population) to remain and contribute to the new nation.
I was one of those who gladly dismissed Rhodesia and became Zimbabwean. Upon the firm economic infrastructure he had inherited, Robert Mugabe, our first black leader, built a health and educational system that was the envy of Africa. Zimbabwe became the continent's most literate country, with its highest per capita income. Zimbabwe easily fed itself and had plenty left over to export to its famine-prone neighbors.
I remember crisscrossing the continent then as Africa correspondent for a British newspaper, and each time I returned to the newly renamed capital of Harare (previously it had been Salisbury), I was reminded that in comparison to what surrounded it, Zimbabwe was like Switzerland. The roads were well maintained, the elevators worked, electricity was constant, you could drink the water, the steaks were world-renowned. The Zimbabwe dollar was at near parity with its American namesake.
Fast forward to today, and the country is unrecognizable.
Zimbabwe now has the fastest-shrinking peacetime economy in the world. This week, one U.S. dollar (even in its newly enfeebled state) will fetch you 55 million Zimbabwe dollars on the street. Hyperinflation there has soared well above 100,000% -- way past what it was in the Weimar Republic, when Germans loaded up wheelbarrows with money to go grocery shopping. Zimbabweans must carry huge wads of cash around in shopping bags, and by the time they reach the checkout desk at the shortage-racked supermarkets, the prices have already gone up.
Complete article at:
http://www.latimes.com/news/opinion/la-oe-godwin25mar25,0,7210173.story