Zimbabwe’s current inflation rate of 97.4 percent has raised worries that the country is on the precipice of repeating the economic crisis of 2008. However, former Finance Minister Tendai Biti argues that the current crisis is fundamentally political, not economic, and driven by a lack of government legitimacy.
“You can never govern without the consent of the people. … People did not give their consent to the political outcome of [the] 30 July 2018 [election].” Hyperinflation, youth unemployment, and poverty—79 percent live below the poverty line–raise the threat of another military coup, he says.
