Zim is bankrupt despite its vast resources - analyst

A Political analyst Vince Musewe has said it was a surprise that Zimbabwe with its vast natural resources its bankrupt to a point of failing to pay its workers.

In his Facebook post Musewe said despite the country's prodigious resource base, it is bankrupt and has since 2013, been unable to invest anything in the economy because the government has accumulated a budget deficit of $2.5 billion which has mainly been spent on consumption and not investment or capital formation.

"A government that spends $35 million on telephone calls as reported recently, is highly irresponsible and not fit to govern us,": he said.

"The country also has no savings and is not generating adequate export revenues to meet its needs while imports are ballooning because we no longer produce much here, thanks to Mr Robert Mugabe (President)  who believes that land without secure tenure and minerals in the ground are assets."

He said Dear Mr President, these assets are dead assets until the country can have the capital and technology to unlock them.

"In other words, Zimbabweans will continue to be food insecure and beg for food from the West while our mineral resources will lie redundant as we insult those with the very technology and capital we need," Musewe said.