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Mugabe has gone—but the Zimbabwean economy is perilously close to the edge

Report from Harare

Emmerson Mnangagwa delivering his inaugural speech in 2017. Photo: Shutterstock

Two days before Zimbabwe celebrated 39 years since independence in April, citizens received an unwanted early birthday present: the cost of a loaf of bread doubled. It was yet another sign the country is sinking into an uncontrollable financial crisis that the relatively new president, Emmerson Mnangagwa, appears unable to solve.

When Mnangagwa took over in November 2017, ousting his ageing mentor Robert Mugabe, who had been there from the very beginning in 1980, he sought to show that…

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