On The Ground: Cautious Optimism Despite Policy And Banking Sector Risks
BMI View: Although many people we met with in Harare in September share some of our concerns about the direction of policy following President Robert Mugabe's victory at the recent election, the majority were also cautiously optimistic about Zimbabwe's economic outlook given recent developments. Many contacts expressed concerns about the health of the banking sector.
BMI spent a week in Harare inlate September meeting with clients, business people, and other stakeholders in a bid to gauge sentiment on the ground following the comprehensive victory of President Robert Mugabe's and his ZANU-PF party in the much anticipated July 31 general election. Overall, the mood was more optimistic than we had expected, although most of our contacts acknowledged that there were considerable downside risks and that only time would tell if their optimism was warranted. Indeed, most of the people that we spoke to were waiting for the new ZANU-PF regime to begin governing before backing up their optimism with action.
Cabinet: In With Old