tv DW News Africa Deutsche Welle July 29, 2022 11:30pm-12:01am CEST
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well, with disabilities more likely to lose their jobs. in the pandemic black lives matter . shine a spotlight on racially motivated police minds, same sex marriage is being legalized in more and more countries, discrimination, inequality or part of everyday life. for many, we ask why? because life is diversity. to make up your own mind in d. w. made for mines. this is d w. in years africa coming up on the program, the coven, 19 pandemic, on the ukraine war compound, the economic pain across the continent. so what's the cure? ends and bab, way it's shiny new gold coins. the government says bill, tame soaring, inflation will look at how this unusual measure is meant to work and explore its
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chances of success. also coming up, inflation is skyrocket. a in ghana to with living conditions at their worsting 2 decades. the countries taking desperate measures. but at what cost plus many kenyans are struggling to even put food on the table. can they change that in presidential elections just over a week from now? at the south african town where taps have run dry, the area has seen years of drought. residents say there's more to the problem than just climate change. a hello, i'm told me a lot. well, welcome to the program. $100.00 trillion dollars. that's one, followed by 14 zeros bass is zimbabwe. as big as denomination note from
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2008. that year. saws in babylon, piper, inflation hit. one of the highest levels in history with a 0 dollar essentially not even worth the paper. it was printed on. now, inflation is down to 200 percent. still one of the highest rates in the world. and byways central bank is introducing gold coins as a hedge. it says to reduce the need for us dollars and curb those run away prices. so will the banks plan work? we'll get expert analysis on that in just a moment. but 1st, the doubly news africa's privilege machinery filed this report from herrera. zima was new gold coin is named after the country's world famous victoria falls. there is, if big is billing it is a magic bullet in the fight against the countries inflation problems, the central banks had to seize. the aim is to provide, as in bob winds, with his sift store value and reduce the demand for you as dollars. many here he
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feared the grin bag to the weak, local dora, which is lost more than 70 percent of its value. this year. we do respected the pupils and barbara we know where to begin to dumped off for the free effect of losing value. and therefore, we are providing the school upgrade to the general good coin to show that it is to serve and you drift. but here in the capital, hardy, people are not convinced that the new coin offers in solutions to the dia, economy, cut sheaves. they are fishing, look the music, let them use their, their queens. i don't accept them. oh, you know, rather used those serious dollars. if i was in a more financially stable position, i would it would be something i would invest in, but more as, as a collectible. i have not so much for trading. the new gold coin cost more than $1800.00 us dollars and the launch. but buyers should be away,
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the central bank sees any one, purchasing the coin, must hold them for at least a 180 days. so they are hardly legal tender that can easily be converted to cash. when immediate need arises, economic analysts say the measure we will likely only benefit a few in bud winds with excess cash girl decoy. and it's one of the schemes which are going to make people richer those. what it and those who are poor, poor other. and it's not a bit in a good instrument to address the current i challenge is happening in the economy, particularly the change is farrah and inflation. specs. prices of busy commodities if skyrocketed in our fear, the eroding confidence in any monetary and fiscal policies that the government has tried to introduce. with many people living hand to mouth, the government may have a hard time convincing citizens to exchange their green beds for gold discs.
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we can now speak to tend i, b, t, a constitutional lawyer, member of parliament and former finance minister of zimbabwe. he joins us now from harry. welcome to the program, mister b t. now we're talking about the gold coins in zimbabwe, which the i m. f has actually called unusual. no other country has used gold coins in this way. the government says this will reduce the demand for us dollars. do you think this will work? it won't work. it will work with the court quite. he's not a, you know, below the currency. and so the suit fungible. you can go to shopping by goods where we fit into the currency, which is why that means. so i knew that this by just that meant to date it described is simply is a store. what will fine. but if you test all 5 you why will did one went to take you as well as to buy all quite a so the whole thing doesn't wake the gold coin goes busy. you might know that it's
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a biscuit. it means of steely, because it's going to be so the law carries it. if it's a inventive it's, it's a bit that is below the market. so kooks i just bring to it flat. it's using the local carrier, which is cheap in then you did it outside. so it's a little bit instrument of money on that because we know that there is of dollars into buy in southeast asia, which i just want to come. b like in bobby, then be shipped up is going quite so it's an instrumental lab. it's a, is an instrument of robbing the points about gold has had this reputation for a long time as being fairly stable as a, as a, you know, what? something people can use to, to store that their fortunes. you don't think that this might help zimbabwe, especially considering the wild inflation they've seen in the last few decades. this is much 50 mandatory for demand. they took a maintenance of it, it went to call. it was so important a is it is,
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it means are stored in london. and now we're dealing with cards that i'm a big buy to put your choices really pointless. and to really wish to actually use the, the quote in that the, adequately that k amendment. that is why everyone sees this is good and bad myth because it is unprecedented because i'm president. so who do you think is, is benefiting from this? you talk about stealing, but who exactly are these people? well, with this got to be able to look at it if you can fit into something that is valuable. so that the one that it really is that one that is a big to meet this quote. so that they can, it can fit into us into something with it. yeah. so it, and this is exactly what is it, that's a constitutional lawyer,
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member of parliament and former finance minister of zimbabwe. thank you for speaking to us and to analyze this further, i'm joined by and i'm with tom bassett. she is a and bob when development economist, based on the you can, she joins us now from manchester. welcome to w, news, africa. and i were just seen from a report from our correspondence, some skepticism from average and by the wins over these gold coins, all their concerns justified. thank you for having me on your show. absolutely. back with that, just to find out, make me see when the announcement was made about the gold coins that indeed it will be in detail on how the central banking can on the out. amazing, these and now that, yeah, yeah, we have a lot of content surrounding the way we said surrounding the framework that go
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in terms of supporting the whole point and how they can be access and how they can do this. so many discrepancies that actually get that as opposed to be a new strategy. we're just seeing this fail interchange auction and re branded and re stage as gold coins. so who exactly stands to benefit from this? this, this new, this introduction. we're again seeing those have access to r t g s to the value of 805000 and i was which i generally ins. and bob with the corporate to lease the average salary for a t t around $20000.00 a month. so that the be able to save to afford one gold coin is going to take them a really, really long time. so generally similar to what we've seen with interchange all here is those that up with the corporate leads that you have access to. and north of
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805000 r t s. but unfortunately the way in which they will benefit all you see to benefit the individuals in the way that they will take advantage of potential advertising by the state that they're being paid, paid at a discounted rate. for the u. s. dollar. so it's possible to actually buy using your i t. s and sell back us dollar value to even the banks and be able to make as much as 115 percent from one gold coin just from taking advantage of the i be charged for the current dealing because the gold coins are being packed at the end a change option rate, which is a discounted rate and is only accessible by those that hold that amount or i t d s . and generally those will be that corporate to lease on. right? and i'm with us are about when development economists space in the u. k. thanks for
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speaking to us. thank you. living conditions and gonna are at their worst in 18 years, with inflation now nudging 30 percent and their currency of a cd losing value. gunners also headed for an i m. f bailout. the government blames the situation on the coven. 19 pandemic, and russia's invasion of ukraine. traders and ordinary citizens are feeling the brunt. as a collector, he sent us this report from gunner's capital, a cra for 2 decades. now john kwame appear, has made a steady leavin from his electrical goods shop for him and he simply eas. that's made a good income from this source floor. but now he fears for his livelihood. r p, i says gunners, economic crises is heating his customer's heart. and he is suffering on the supply
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side prices. oh, daughter goes off on friday, very high and stuff over to him to the ceremony of we are all losing our copy to us . i told you know what, things are not good at all. it comes to producing power over every domain. it has been reduced particularly now people can't even come to town to come from by what they want to buy. guns, haven't seen inflation this high since. appears it up his shop 20 years ago. when are we prizes? and now we know we are to people's buying power wherever they look, costs for food and at a st. charles, i, surgeon for prizes going through the roof for ordinary people. it's a daily struggle just to get by this inflation on everything there would commodities for prizes. so as an every gagnon, i receive israel $600.00. so is this and it is my transfer. now it's like i paid twice of what i used to be with an amount of things to this. i can't get had the
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same for me personally, i'm finding very difficult yard to allow the family are the why 5 to read. and then after you also get out for the us who fees a lot. these are comma with more interest john, i started saving and i had a bank or so is honored out in the interest rate law is i gun is economic from domains outside, gar, public finances are all sustainable. the country's debt to g d. p ratio is around 85 percent. the tax take is low despite a new levy on electronic transactions. protests and pay, disputes forced the government to suddenly make a u t n. and head to the i m f to ask for a bill out. here is the country's vice president, a former central banker with the challenges in ex,
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access in the international capital market balance of payments. a port was needed to bring this financing garb stabilize the economy, a creative space to implement structural reforms and restore debt sustainability. and this is really the reason why gartner had to go to the i. economists agree that a crisis could have been avoided if the government had kept tighter controls on spending. the challenges who got issues with assessing, you know, dead, boring and relaxed discipline in our physical conduct and saw the government reach a level that the death levels are extremely austin, oven now, gunners, politicians want to import help from the i m f. but report say that won't be in place to early 2023. meanwhile,
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don't quote me appear can only hope that his customers will keep coming and that his business will keep running. oh, that's the example of ghana, but we want to widen this out. so let's bring in kevin rama the african development banks acting chief economist and vice president. welcome to deed of the news africa . ah, you speaking to us from washington, we've been presenting the 2022 african economic outlook at the i m f. and this comes out a time when a lot of africa countries are really struggling with the economic crisis. crises, ah, you know, a huge debt ah, what can these african countries do to make sure they don't become, for example, the next re lanka? ah, the challenges that are in or in african countries just like around the world because of her several overlapping global challenges that we have am has
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several solutions that can be domestic. i in terms of what african countries can do . but also there are things at a global community, mr. do. in order to support africa to recover from this shocks. i including the shocks off that overhang, as you have mentioned. so one of the key things that needs to be done is for african countries to improve their capacity in mobilizing resources, revenues internally, improving the quality of taxation, and also non tax revenues that comes into the country into the countries because that will help to improve and increase the capacity of the countries to fund development round borrow less. we've just seen for example, in ghana where they've been even protest people, the average person a getting getting hit by this several other countries on the continent. ok, from your point of view, just how bad are the continents poorest countries faring?
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now, the continents poorest are countries in africa are really suffering from several our challenges. let me about one, which was a men team of the ag. oh, the impacts of climate change in all we have all been talking about the impacts of coven 19, which is huge, does pushed over 13000000 people annually into abject poverty. in africa. he asked caused a lot of jobs to be lost, a lot of employment or on employment and so on. but also we have this challenge that has been persistent, which is the impacts of climate change that is due in the create, in major challenges for governments around the world. and especially in africa, losing billions of dollars in infrastructure that i had destroyed by climate impacts, losing loss of lives and livelihoods, and so on. so african governments really have a lot of challenges that needs
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a lot of financing support from to develop their developed world in order to support africa, to be able to recover from dish many shocks which you are not caused by these countries. kevin rama the african development banks acting chief economist and vice president. many thanks for speaking to us. ah, more than 80 percent of kenyan say they're suffering under the cost of living crisis and official figures make clear then high inflation is worst affecting the poorest canyons. we'll get to vote on their leaders soon with the hope of improving living conditions. dablin is africa's correspondent felix marina. sent us this report from the kenyan capital nairobi. gibberish lamp is kenya's biggest informal sentiment and in hack york. justin or gutter is preparing
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traditional greens for one of our customers. the cost of basic commodities have doubled. event shreveport. but it's kenya's tipple food maze that's worrying had the most. the master bedroom made up when you can take tea without sugar and still survive higher even ball. you can make greens without cooking oil. well that there is no substitute for golly, already member to the cost of mays. flower has risen drastically. when that's housing everyone, the most food prices have been going up across the continent. economist, dr. x, an iraqi says several factors have contributed to the rise upper icon, 5th and investment in agriculture. ah, royal korea. well, what participated in mixing in different grew up on what it missed, the odor kenyatta group was offering. they got to be able to get enough food. they cannot trouble how they want. they cannot be fees for the people most affected by inflation, by the people at the law at your uncle that i cited no,
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just ahead of their elections. kenneth president, hulu kinyata, has intervened to cut the price of maze fly by half. maze flour shall retail across the entire territory of the republic of kenya at the price of kenneth shillings. 100, down from kenneth shillings, 205 for a 2 k g packet. until otherwise directed many kenyon, sim and concerned that the timing of the misha could be political, the just want chip or food all jumbled on when, when it grandma, the important thing to note is whether it's a political move or not a political move. i emailed kenyans once, miss fla, from wherever i told you i'm going to go up. now this happens every election time this time around were telling them they should not increase the maze. flower prices after the elections with they should also reduce the cost of other commodities like sugar and riot since he can't eat golly,
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every single day. just been is one among the many kennel who continue to struggle with raising the prices of the basic for commodities. the 2 leading presidential candidates have promised to daily the foot prizes once they occupy office, but she remains doubtful. yenny barrage, at the close, the empty promises the south and just looking to be elected guys when they get to office. they weren't change anything yet. that by deborah never knew that by didn't empty promises won't feed empty stomachs at home. just been prepared food for half . i mean, not knowing if she will have another meal herself to d. and we'll have a special edition of d. w, news africa from our studio, and now roby covering the leading candidates and all the issues in kenya's upcoming elections. next week's show
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these school children in south africa finally have water again. after a ball hole was drilled in their school yard. 4 years ago a cape town was facing the threat of days 0. the day when water was expected to run out. that never came to pass because people saved water and the rains came. now another town has the same problem. kabir ha, formerly port elizabeth in east and cape, has experienced 7 years of drought. our correspondent adrian creek sent us this report. not a drop in the tip in simple kazi tim bonnie's house for 7 months. now. the supply has run dry. ah, the arrival of the water truck bring some relief, but tim bonnie knows that it also spills hard work she has to carry the water all the way home for herself and her 4 grandchildren.
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yeah, cool. not enough me getting sick because of carrying this water every day. my jeans hurt, i have body pains, i have to take painkillers to sleep or go to the clinic, especially for of elderly people. the situation was painful. and he thank close with that. is that sad clue? this damn should provide water for her home, but it's almost empty. it's only filled to less than 15 percent of its capacity. only 4 percent is usable water rainfall is getting more and more sporadic, and it isn't as heavy as it used to be. for 7 years, the area has been in the grip of a historic droughts. but while climate change certainly plays a role mismanagement, decaying infrastructure and a lack of maintenance, certainly due to it, is estimated that about one 3rd of the water supply are lost due to leaking pipes. the scale of the problem is clear to see all over town. residents report about
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200 leagues every day. the city has employed additional staff for repair walks, and new wealth are being drilled. ground water is supposed to help black the gap that the missing rain water has left the head of what a distribution for the municipality says. but why didn't all this happen much earlier? the, quite a number of reasons. some of them, it's financial arrangements are obviously from in the study, the point of view, we have the competing priorities from a service delivery perspective. and in some of with a versus financial versus the directed to other projects. a lot of people we talk to actually blame luminous of healthy for the current situation. at this point in time, my focus is to be able to deliver the metro and push the day 0 and o our efforts. you know, i'm going towards that day 0. that's the day when all water reserves will be used up, the worst case scenario. to avoid it, each resident is supposed to use no more than 15 liters of water per day, with
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a municipality threatening to impose strict controls. in the poor neighbourhood of civil kazi timber need, people feel they have been given empty promises for months. even the water truck that is a lifeline for so many isn't organized by the municipality. it comes from an 8 organisation called gift of the givers. it willingness valley and lemme the municipality, but asked the politicians when it is time to campaign for votes. you find a lot of them here asking for votes, but when the time comes to deliver services to the people, they are nowhere to be found. when we need water, they are nowhere to be found. like are called people kazi, tim bonnie has given up hope and politics. the only remaining hope that drain may fall soon, so she will get a break from the hard work of fetching water. well that's it for now. we've got lots of other stories though on d w dot com,
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that's true, win win situation still india in 30 minutes on d. w. o. b red alert for ah, this isn't just route is a rid of vacation. we're going to have some epic. moreover, water over the world matter is becoming a scarce commodity. isn't worth dying of thirst. the global struggle for water thirst the starts of august 10th on d. w, a vibrant habitat lou ended go listening place of longing. the
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mediterranean sea have almost far and to follow up to korean drift along with exploring modern lifestyles and mediterranean meeting. people actually hearing their dreams of mediterranean journey in 10 episodes starts august 14th on d w. imagine how many portion of love us her now in the world right now, the climate change. if any, off the story, this is life less the way from just one week. how much work can really get we still have time to i'm going on with my 5th hit, some scribe formulas like india, a land of contrasts of ambitions of inequality.
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75 years ago, mahatma gandhi peacefully led the country to independence. what has remained of his vision? where does the world so called the largest democracy stand and where is india headed in? this is the moment to unleash on, on violet bias. gandhi's legacy start august 6th on b. w. ah, this is deedee of you news, and these are our top stories ukraine's president of volunteers. lansky says the 1st grain shipments are ready to depart from 2 black c ports under a u. n. deal with russia and ukraine. the blockade of ukrainian port.
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