Zimbabwe finance minister Tendai Biti says in this AFP report detailing the country’s perilous fiscal situation:
“Last week when we paid civil servants there was $217 (left) in government coffers,” Biti told journalists in the capital Harare, claiming some of them had healthier bank balances than the state.
“The government finances are in paralysis state at the present moment. We are failing to meet our targets.”
That’s not great news for a country looking to a hold an election, which will cost $104 million, in the next year, and Zimbabwe says it will need international help for the referendum. The country is ruled by a tenuous power sharing agreement between President Robert Mugabe, whose economic cronyism helped wreck the country’s economy, and opposition lead by former unionist Morgan Tsvangirai.
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