Will Zimbabwe have more of the same after Mugabe?
The scenes of unbridled joy in Zimbabwe following the resignation of Robert Mugabe were remarkable. His 37-year rule brought misery to the nation, devastated its economy and left its citizens impoverished and terrified. Now it's over. What comes next? Former vice president Emmerson Mnangagwa will be the interim president until scheduled elections in 2018. But he was also the right hand man for Mugabe over 4 decades. His role as Mugabe's enforcer earned him the nickname of "The Crocodile." So if past performance is any guide to future prospects, it could be out of the pan and into the fire. The challenges facing Zimbabwe are formidable. Mnangagwa and his eventual successor must first stabilize its economy before it can entertain any rosy hopes of attracting international investment. This means getting to grips with its currency fiasco. Zimbabwe's new leaders also need to get a firm grasp of the country's budget deficit and start to think about dealing with its debt. That could mean tough decisions which, in the short term, will inflict more economic pain on people who have already suffered so much. Help will be needed from "the usual suspects" too -- the IMF, World Bank and the African Development Bank. Regional powers like South Africa will have to play their part in creating confidence for investors as well. All of this will be wasted if Mnangagwa and the ruling Zanu-PF party haven't learned from Mugabe's failures. I don't want to be harsh. But before we rush to prop up Mnangagwa with good cash after bad, let's make sure "The Crocodile" isn't planning to bite the hands that look to feed Zimbabwe.
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