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jerryking : poor_governance   7

On a milestone of misrule, Mugabe fumes as Zimbabwe falls apart
Apr. 21 2014 | G&M | GEOFFREY YORK.

Mr. Mugabe’s rule is unchallenged these days, after a landslide victory in a 2013 election that was widely seen as tainted and rigged. But while he dominates the country, the Zimbabwean economy is continuing to slide towards disaster – even though Western sanctions on the Mugabe regime have been largely eliminated.

Consumer spending fell by 30 per cent in February (the most recent data available); government revenue dropped by 10 per cent in the same month; civil-service wages have been delayed because the government cannot pay them; and dozens of factories have shut down in recent months, eliminating more than 9,000 jobs at a time when unemployment is already estimated at about 60 per cent...Just 14 years ago, Zimbabwe was one of the wealthiest economies in Africa. Today it has fallen into the bottom half of the continent’s economies. Mr. Mugabe’s misrule has cost Zimbabwe about $96-billion (U.S.) in those 14 years, according to an analyst at the U.S.-based Centre for Global Development. The country’s GDP would be more than twice as big today if it had followed the growth pattern of neighboring Zambia in that period, he noted.

“Mugabe has the ignominious distinction of being the only African head-of-state to preside over an average decline in both economic output and life expectancy since 1980,”
Zimbabwe  Robert_Mugabe  Geoffrey_York  indigenization  tyrants  misrule  misgovernance  mismanagement  poor_governance  decline  GDP  life_expectancy 
april 2014 by jerryking
Liberate Africa From Its Political Elites - WSJ.com
July 5, 2005 | WSJ | By MOELETSI MBEKI.

African political elites have systematically exploited their positions in order to line their own pockets. They have given favors and won influence through the funding of huge loss-making industrialization projects. They have exploited the natural resources of their countries and then transferred profits, taxes, and aid funds into their own foreign bank accounts at the same time that they ran up enormous debts to finance their governments' operations.

What were the results of those predatory policies? According to the World Bank and the International Monetary Fund, which have become Africa's fairy godparents, Africans are poor and getting poorer.
Africa  political_elites  crony_capitalism  misrule  misgovernance  mismanagement  corruption  poor_governance  IMF  World_Bank  poverty 
august 2012 by jerryking
Africa's Poverty Trap - WSJ.com
March 23, 2007 | WSJ |By WILLIAM R. EASTERLY.

Economists involved in Africa then and now undervalued free markets, instead coming up with one of the worst ideas ever: state direction by the states least able to direct.

African governments are not the only ones that are bad, but they have ranked low for decades on most international comparisons of corruption, state failure, red tape, lawlessness and dictatorship. Nor is recognizing such bad government "racist" -- this would be an insult to the many Africans who risk their lives to protest their own bad governments. Instead, corrupt and mismanaged governments on the continent reflect the unhappy way in which colonizers artificially created most nations, often combining antagonistic ethnicities. Anyway, the results of statist economics by bad states was a near-zero rise in GDP per capita for Ghana, and the same for the average African nation, over the last 50 years....The cowed IMF and the World Bank never mention the words "free market" in thousands of pages devoted to ending poverty. Even the World Bank's 2005 World Development Report "A Better Investment Climate for Everyone" doesn't mention the forbidden words.World Bank economists are so scared of offending anyone on Africa that they recite tautologies.
William_Easterly  Africa  economists  IMF  World_Bank  foreign_aid  free_markets  failed_states  lawlessness  corruption  poverty  mismanagement  misrule  governance  poor_governance  misgovernance 
august 2012 by jerryking
Even the Prostitutes Have Degrees - WSJ.com
January 31, 2003 | WSJ | Daniel Henninger.

Accountability and responsibility may well be the two words Mr. Bush hopes most to deposit in our political vocabulary....Africa is the one big place in the world no one in politics wants to think about. Africa is "hopeless." Our leaders in Washington, however, can't escape Africa's realities entirely because they spend each day in the back seat of taxis driven by black men who have fled from Africa's non-functioning economies. It is always disconcerting when one talks with these African taxi drivers to find they are often better educated than American blacks in similar jobs. They are in America not because Africa is stupid but because Africa's politicians are often corrupt and have stupid ideas that ruin the people beneath them.
Daniel_Henninger  HIV  Africa  Kenya  Non-Integrating_Gap  hopelessness  failed_states  politicians  misgovernance  misrule  corruption  poor_governance 
june 2012 by jerryking
Op-Ed Guest Columnist - Africa Reboots - NYTimes.com
April 17, 2010 | New York Times | By BONO...."We managed to
hear a surprising thing. Harmony ... flowing from two sides that in the
past have often been discordant: Africa’s emerging entrepreneurial class
and its civil-society activists.

Civil society as a rule sees business as, well, a little uncivil.
Business tends to see activists as, well, a little too active. But in
Africa, at least from what I’ve just seen, this is starting to change.
The energy of these opposing forces coming together is filling offices,
boardrooms and bars. The reason is that both these groups — the private
sector and civil society — see poor governance as the biggest obstacle
they face. So they are working together on redefining the rules of the
African game.
Africa  entrepreneurship  infrastructure  Mo_Ibrahim  misgovernance  Bono  civil_society  mismanagement  misrule  corruption  poor_governance 
april 2010 by jerryking

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