Zimbabwe has only $217 left in its coffers after paying the wages of its civil servants. The country’s finance minister Tendai Biti said at a news conference in the country’s capital Harari that they are “failing to meet” their targets. The lack of funds will force the country to ask for a loan for this year’s constitutional referendum and national elections.
Biti said they need $104 million to organise this year’s election.
The country’s economy dipped at the start of the 21st century when President Robert Mugabe forced white men to return their farms to the state. The move affected the confidence of international investors in Zimbabwe paralysing its economy and “scaring off tourists.” Zimbabwe’s economy is expected to grow 5.0 percent this year.