HARARE – Zimbabwe has suffered an economic blow amounting to over US$42 billion due to sanctions imposed by the United States and Western countries, according to Justice Minister Ziyambi Ziyambi.
Ziyambi made the remarks during an anti-sanctions symposium in Harare, asserting that the punitive measures have crippled the country’s economic growth and severely impacted the livelihoods of ordinary citizens.
“The economic sanctions imposed by the United States and its allies have cost Zimbabwe over US$42 billion in potential investment, trade opportunities, and access to financial markets,” said Ziyambi.
He accused Western nations of using sanctions as a political tool to destabilise Zimbabwe while cloaking their actions under the guise of promoting democracy and human rights.
Ziyambi detailed that the sanctions, which were imposed in the early 2000s, have not only limited Zimbabwe’s access to international financing but also discouraged foreign direct investment (FDI).
“The private sector has been hit the hardest, as many companies cannot access international credit lines. This has led to job losses, reduced productivity, and stunted economic growth,” he said.
According to the minister, the financial isolation has impeded infrastructure development, particularly in critical sectors such as health, education, and agriculture.
The U.S. and European Union (EU) argue that the sanctions are targeted measures against individuals and entities accused of undermining democracy, human rights, and the rule of law in Zimbabwe. However, the Zimbabwean government insists that the sanctions are broad-based and have far-reaching effects on the economy.
A recent report by the African Union (AU) and the Southern African Development Community (SADC) corroborated Zimbabwe’s position, stating that the sanctions have indirectly affected the country’s economy as a whole.
“The sanctions are a modern-day form of economic warfare. They are not targeted; they affect every sector of our economy,” Ziyambi said.
Ziyambi appealed to international organisations, including the United Nations (UN) and regional blocs, to lobby for the removal of sanctions.
“We call upon all progressive nations to support Zimbabwe’s fight against these unjust measures. Sanctions are an impediment to our development agenda and violate the principles of international law,” he said.
The government has also ramped up its #ZimSanctionsMustFall campaign, urging local citizens and regional allies to amplify calls for the lifting of sanctions.
Economists and analysts have highlighted the ripple effects of sanctions on social services.
Health sector funding, for instance, has been drastically reduced, leading to shortages of essential medicines and equipment. Similarly, the education sector has suffered from inadequate funding for schools and universities, further straining an already overburdened system.
Critics of the government argue that corruption, mismanagement, and policy inconsistency—not sanctions—are the primary reasons for Zimbabwe’s economic decline.
“Sanctions are not an excuse for corruption and poor governance. The government must also take responsibility for its failures,” said political analyst Dr. Tawanda Moyo.
However, Ziyambi dismissed such claims, maintaining that the sanctions are the single largest barrier to economic recovery.
SADC has designated October 25 as Anti-Sanctions Day, a move aimed at rallying international support against the measures.
At a recent SADC summit, regional leaders reiterated their condemnation of the sanctions, calling them an affront to Zimbabwe’s sovereignty.
Ziyambi said the government remains committed to engaging with Western countries to address the issue.
“We are open to dialogue, but it must be a conversation based on mutual respect and recognition of our sovereignty,” he said.
As the sanctions debate rages on, Zimbabwe continues to grapple with their impact. While the government blames the sanctions for economic woes, critics stress the need for internal reforms to complement international advocacy efforts.
For now, the lifting of sanctions remains a key agenda item for Zimbabwe’s government, as it seeks to unlock the country’s full economic potential.