In the last two days, the Zimbabwe stock market has crashed almost 10% as a ‘not-military-coup’ has ousted 93-year-old President Mugabe – the question is, what happens next?
Bloomberg reports that Zimbabwe President Robert Mugabe’s refusal to publicly resign is stalling plans by the military to swiftly install a transitional government after seizing power on Wednesday, two people familiar with the situation said.
That uncertainty is clearly showing up in Zimbabwe stocks…
The military wants Mugabe, who’s under house arrest, to agree to step aside so it can claim its action isn’t a coup and head off tension with the Southern African Development Community, which includes Zimbabwe and South Africa, the people said. The group previously intervened when the army took over in Lesotho.
This post was published at Zero Hedge on Nov 16, 2017.