Despite heavy rains Zimbabwe’s Kariba Dam is only 15% full
Zimbabwe’s finance minister has an optimistic growth projection for 2017, but the inability to produce enough power domestically may put a damper on things
Heavy rains, which have pounded Zimbabwe in recent weeks and caused floods in some parts of the country, have not yet translated into significant inflows into the Kariba Dam, which the country shares with neighbouring Zambia. The two countries rely on the dam for the generation of hydro-electric energy. Low water levels in the Kariba have been a source of concern and blamed for power shortages. Zimbabwe is currently battling a persistent liquidity crunch, a high public-sector wage bill that gobbles up 97% of all monthly revenues, a dwindling tax base, and bottlenecks in settling international transactions. This week, president of the Confederation of Zimbabwe Industries Busisa Moyo urged the government to speedily resolve the payment backlogs, which threaten the operations of industry. "Companies are unable to supply products and to procure goods for production," he said. Despite the signs of a tough year ahead, Finance Minister Patrick Chinamasa has projected an optimistic economic...
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