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INTRODUCTION: THE CRISIS
When did Zimbabwe’s apparently endless economic downturn actually begin?
February 2000, when Robert Mugabe began authorizing land invasions?
November 1997, when ‘‘Black Friday’’ decimated the currency’s value (by 74% in four hours)?
The prior months, when war vets were given pensions and Zimbabwe put troops into the Democratic Republic of the Congo to back the Kabila regime and secure investment sites?
September 1991, when the stock market crashed once interest rates were raised to high real levels at the outset of the Economic Structural Adjustment Programme (ESAP)?
The early 1980s, not long after Mugabe took power?
Or around 1974, when per capita Gross Domestic Product (GDP) began a fall that has not yet reversed itself?
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