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Workers unions are agitating for a nationwide strike over the continued economic implosion that has been characterised by the spectacular collapse of the Zimbabwe dollar. The country is facing its worst economic crisis since 2008 as the local currency continues on a nosedive, driving the process of basic commodities beyond the reach of many. Union…
The Standard established that union leaders and workers met at a local hotel in the capital on Friday where they discussed the collapse of the local currency and the urgent need for dollarisation.
It said while AfDB had made headway in its initial engagements, the lender failed to line up a plan that tackles underlying causes behind the debt crisis.
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Retailers last week hiked prices as they chased the black market foreign currency exchange rate, which is now hovering between $3 500 and $4 000 to the United States dollar.