Zimbabwe, is a landlocked country located in southern Africa, situated between the Limpopo river in the south and the Zambezi river in the north. Zimbabwe is bounded by Zambia to the north and north-west, by South Africa to the south, by Mozambique to the east and north-east and by Botswana to the south-west. Zimbabwe lies wholly to the north of the Tropic of Capricorn. It is part of the great plateau which is a major feature of the geography of the southern African region. The capital and largest city is Harare. An ethnically diverse country of roughly 16 million people, Zimbabwe has 16 official languages, with English, Shona and Ndebele being most common.
The agriculture sector did not benefit much from the rains received during the 2019/2020 agriculture season. However, the government still faces a number of economic challenges, including infrastructure and regulatory deficiencies, ongoing indigenization pressure, policy uncertainty, a large external debt burden, and insufficient formal employment. As such, the country continues to battle poor liquidity and has failed to attract meaningful foreign investments. Unemployment rates are staggering estimated to be over 70 percent.
The challenging economic environment for both business and consumers has been due to the increasing inflation. Annualized inflation in Zimbabwe surged to 659.4 percent in September 2020, up from 246.68 percent in August 2019. In addition, in June 2020, the Zimbabwean dollar was allowed to float through the exchange auction system to try to crush the black market.
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