Zimbabwe

I

Foreign Trade

Zimbabwe’s foreign trade position is structurally unhealthy, in that it typically imports more than it exports. The country’s main customers for exports are the United Kingdom, Germany, South Africa, Japan, and China. South Africa is by far the primary source for imports; other large suppliers are Mozambique, the United Kingdom, and Germany. Zimbabwe’s most important imports include petroleum products, machinery, motor vehicles, and foodstuffs. Chief exports include tobacco and other agricultural products as well as gold and other minerals.

J

Currency and Banking

Zimbabwe’s basic unit of currency is the Zimbabwe dollar. Officially, 30,669 Zimbabwe dollars equal U.S.$1 (2008). The Reserve Bank of Zimbabwe, founded in 1964, is the bank of issue, and several commercial banks operate throughout the country. The Zimbabwe Stock Exchange is located in Harare.

VI

Government of Zimbabwe

Until independence in 1980, Zimbabwe was effectively ruled by the white population, through a parliament elected by a voting population limited to whites and only a small number of blacks. After independence a new constitution was drawn up that declared Zimbabwe a majority-rule republic. The 1980 constitution guarantees the fundamental rights and freedoms of the individual, regardless of race, ethnic group, place of origin, creed, or gender. Constitutional amendments approved in 1987 and 1990 provide for direct election of the president, abolish reserved seats in the legislature for whites, and establish a unicameral legislature. There is universal suffrage, and the voting age is 18.

A

Executive

The head of state and government is an executive president, who is elected by direct popular vote. The president appoints the Cabinet, and two of the Cabinet members are vice presidents. Cabinet members must answer to the parliament for their actions.

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B

Legislature

Zimbabwe’s unicameral (single chamber) parliament is called the House of Assembly, made up of 150 members. Of these, 120 are directly elected to represent local constituencies, 10 are elected by traditional chiefs (5 from among the Shona and 5 from the Ndebele), 12 are appointed by the president, and 8 are provincial governors. All representatives serve five-year terms, and there is no limit to the number of terms they may serve. The House of Assembly is independent of the president and has the power to enact and modify laws and to levy taxes.