Financial Crime World

ZIMBABWE’S FINANCIAL SANCTIONS LIST: A CURIOUS CASE OF ECONOMIC PUNISHMENT

As Zimbabwe marks Solidarity Day against sanctions imposed by Western powers, African leaders have come out strongly against the economic penalties, but remain mum on the country’s deplorable human rights record.

Background


The United States, European Union, and United Kingdom imposed targeted sanctions nearly 20 years ago in response to human rights violations and government actions that impede democracy. The sanctions were applied to curb Zimbabwe’s deplorable human rights record and promote democratic governance.

Effects of the Sanctions


Despite the sanctions, the ruling elites have remained unaffected, with human rights violations persisting and political freedoms severely curtailed. Critics argue that the sanctions have harmed ordinary citizens, including those in the agricultural sector who rely on fertilizers produced by companies listed under sanctions.

  • The targeted sanctions have had little impact on the ruling elites.
  • Many individuals and companies are able to circumvent the restrictions.
  • Ordinary citizens, particularly in the agricultural sector, have been harmed by the sanctions.

African Leaders’ Response


African leaders, including SADC Chair President Félix Tshisekedi of the Democratic Republic of Congo, have spoken out against the sanctions. However, they have failed to offer an alternative solution and remain mum on Zimbabwe’s human rights record.

  • African leaders have called for the lifting of sanctions without offering a plan to address human rights violations.
  • By not condemning Zimbabwe’s abuses, African governments are effectively condoning them.

Expert Opinion


Experts argue that Zimbabwe’s inability to borrow from international financial institutions is due to bad debt, not sanctions. The country’s economic woes are also exacerbated by its own policies and actions, rather than external factors alone.

  • The International Crisis Group has called for a rethink of the sanctions approach.
  • The Institute for Security Studies warns against unconditional lifting of sanctions without concessions from the Zimbabwean government or an AU/SADC initiative to guarantee human rights protection.

Way Forward


A more effective approach could involve complementary processes that encourage behavior change and promote human rights protection. This could include:

  • The African Peer Review Mechanism
  • SADC’s troika of three states responsible for regional peace and security
  • A rethink of the sanctions approach to ensure that they are targeted and effective in promoting human rights and democratic governance.

By addressing Zimbabwe’s economic woes through a combination of internal reforms and external support, it may be possible to achieve sustainable growth and development.