this out, let me in please. what was that? they said no need to cuz we only demanding quite out. they have us out. i'm calling the north africa lake assembly 77 percent. we can no longer with the w numbers. have these places in europe are smashing all the records step into a bold adventure. it's the treasure map for modern globetrotters. discover some of you up to record breaking sites on your back, youtube and now also in book form. this is d, dublin years, africa coming up on the program. the coven, 19 pandemic. i'm the ukraine war compound, the economic pain across the continent. so what's the cure ends in that way. it's shiny new gold coins. the government says they'll tame. soaring,

inflation will look at how this unusual measure is meant to work and explore its 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? and the south african town where taps have run dry. the area has seen years of drought, but residents say there's more to the problem than just climate change. a hello, i'm told me all lady ball welcome to the program. $100.00 trillion dollars,

slats one followed by 14 zeros mass, is as in bob ways, biggest denomination note from 2008 that year saw as in bob when 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 by way, central bank is introducing gold coins as a hedge. it says to reduce the need for u. s. dollars and cub those run away prices. so we'll the banks plan work. we'll get expert analysis on that in just a moment, but 1st did up the news africa's privilege machinery filed this report from her. ari zima was new gold coin is named after the countries world famous victoria falls. there is if big is billing it is a magic bullet in that fight against the countries inflation problems. the central

banks had to say that the aim is to provide, as in bob wins with a safe store value and reduce the demand for you as dollars. many here to fit the grin bag to the weak local dollar, which is lost more than 70 percent of its value. this year. we do respected the pupils and barbara will know what to bring to terms or for the fear factor of losing value. and therefore, we are providing the school called the general good coin to show that it is to serve and you drift this. but here in the capital, hardy, people are not convinced that the new coin offers in solutions to the dia, economy, cut ships. they are 50, let them use, let them use, but they are queens, i don't accept them. oh, you know, rather use both 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 lunch. but buyers should be away, the central bank sees any one possessing 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 will likely only benefit a few in bob wins with excess cash gold coin. it's one of the schemes which are going to make people are richer, those will adage. and those who are poor, poor, other, and due to not to be in a good instrument to address or the current i challenge is happening in the economy, particularly the change is farrah and inflation. specs. prices are pretty commodities. they have skyrocketed in our fear that eroding confidence in any monetary and fiscal policies that the government has tried to introduce. with many people, leaving hand to mouth, the government may have

a hard time convincing citizens to exchange their green bags for gold discs. we can now speak to tend i b, t, a constitutional lawyer, member of parliament and former finance minister of sim, bob way. 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. quake is not a, you know, these are the carries. and so it's good friendship, or you can go to shopping buy goods where we fit a certain sort of currency, which is why the bins talk ideas in these by just that meant date. it describes is a symbol is a store what will fight. but if you just all 5 you why will did one went to take

you as well as to buy will coins is for the whole thing doesn't wake the gold coin goes basically you might know that he's the best means of silly because it's going to be sold to law carries it. it's a inventive it's, it's a bit that is below the market. so cook's 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 in dubai, in southeast asia, which i just read to come. b, like in, bobby then be shipped out his gold quaid. so it's an instrumental lab. it's a, it's an instrument of rubbing 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 is especially considering the wild inflation they've seen in the last few decades. this is much 50 mandatory for demand. they do a maintenance of intake,

where decoded was so important. a is it, is, it means are stored in vine. and now we're dealing with carrots is that i'm a big by to put your choices really pointless. and to really wish to actually use the, the quote in that the, adequately, that k get an amendment. that is why everyone sees this is a good and b, i admit, because it is unprecedented design president. so who do you think is as a, as, as benefiting from this? you talk about stealing, but who exactly are these people with? that's what this got to do. to which they have to fit into something that is valuable. so they're the ones that have that one, that is a big to make this court 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, 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 zimbabwe and development economist based on the you can. she joins us now from manchester. welcome to w, news, africa. and i were just saying 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 there will be in detail on how the central banking can operate. amazing. these and now that, yeah, yeah, we have a lot of questions surrounding the way we say surrounding the framework that go

in terms of supporting the whole point and how they can be access and how they can do this. so many discrepancies that actually suggest 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 that have access to our 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 able to say, so afford one gold coin is going to take them a really long time. so generally similar to what we've seen with the interchange all here is those that up with the corporate leads that you have access to our

north of 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 fact 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 advertising for parents dealing because the gold coins i've been in the change option rate, which is a discounted rate and is only accessible by those that hold that amount or i t s. and generally those will be the app corporate to lease on. right. can i come by,

sir? said bob, land development economists space in the u. k. thanks for speaking to us and here, ah, living conditions and gonna are at their worst in 18 years, with inflation now nudging 30 percent and the currency of a cd losing value. gunner is also headed for an i m f, bailout. the government blames the situation on the cove in 1000 pandemic and russia's invasion of ukraine. traders and ordinary citizens are feeling the brunt as a collect the centers this report from gunners, 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 meant a good income from this source floor. but now he fears for his livelihood. r p. s, says gunners, economic crises is heating his customers heart. and he is suffering on the supply

side. prices o daughter goes off on for a very high and stuff over to him to the celebration of. we are all losing our company to us. i told him it was, things are not good at all. it comes to producing power over every domain. it tells me reduce, particularly now people can even come to town to come to buy. what do you want to buy? daniels 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 i've a st. charles eye surgeon for prizes going through the roof for ordinary people. it's a daily struggle just to get to buy this inflation on everything. there. food commodities for prices. so as an every gagnon, i receive israel $600.00. so as it's and as 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 any things for me personally, i'm finding very difficult yard to allow the family are the why 5 and to read. and then after you also get out for the us who fees a lot. these are commer with more interest janice, i was saving and i had a bank also dishonored out in that interest rate law. we thought janice 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 stake 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 that countries vice president a for my central banker with the challenges in ex access in the international capital market. balance of payments support was needed to bring this financing up, stabilize the economy, and create the space to implement structural reforms and restore debt sustainability. and this is really the reason why gartner had to go to the i economies. i agree that a crisis could have been avoided if the government had kept tighter controls on spending. the challenges who got issues with assessing. we know dead boring and we loved discipline in our physical conduct and saw the government richer loved at the desk. levels are extremely austin avenue. now janice politicians want to import help from the i m f. but reports say that won't be in

place to early 2023. meanwhile, 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 d. w. news. africa. ah, you speaking to us from washington, we've been presenting the 2022 african economic out. look 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, 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 several solutions that can be domestic. i in terms of what african countries can do . but also there are things that a global community needs to 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 are from your point of

view, just how bad are the continents poorest countries faring. now the continents poorest or countries in africa are really suffering from several our challenges. let me about one, which was the men team of the h e o. 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 there on employment and so on. but also we have these challenge that has been persistent, which is the impacts of climate change. that is 3 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 a lot of financing support from to develop their developed world in allowed to support africa, to be able to recover from dish minis shocks which you are not caused by these countries. kevin grammar, the african development banks, acting chief economist and vice president. many thanks for speaking to us. ah, lou. 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 canals will get to vote on their leader. soon with the hope of improving living conditions, dablin is africa's correspondent felix marina. sent us this report from the canyon capital nairobi. gibberish lamp is kenya's biggest informal sentiment

and in hack, yost, justin or gutter is preparing traditional greens for one of our customers. the cost of basic commodities have doubled, events, shreveport, but it's kenya's tipple food maze that's worrying had the most, some method that you know that you can take t without sugar and still survive. i. e book, you can make greens without cooking oil. well that there is no substitute for the 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 for but i confess and investment in agriculture. ha roy and chris. well, what participated in mixing in different, grew up on what did miss the order of kenya's or people suffer? they're going to be able to get enough food. they cannot trouble or they won't.

they cannot be thess. so the people are most affected by inflation or the people at the law at your uncles as a cited now just ahead of their elections. kenneth president, hulu. kenyatta has intervened to cut the prizes. mays fla, by half may's flower 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 to by you know, channels want ms. law from wherever it comes from. what would you, are we going to go up the 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, every single day. just been is one among the many canyon who continue to struggle with the rise in their prices of the basic food commodities. the 2 leading

presidential candidates have promised to deal with the food prices once they occupy office, but she remains doubtful. yennie barrage at the empty promises, so they're just looking to be elected when they get to office. they weren't change anything yet. a empty promises won't feed empty stomachs at home. just being prepared food for her family. not knowing if she will have another meal herself. today and we'll have a special edition of d, w. news, africa from our studio, and i, roby covering the leading candidates and all the issues in kanyes upcoming elections. next week's show 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. kat bear 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 hot water she has to carry the water all the way home for herself and her 4 grandchildren. yet or not, i know you are getting sick because of carrying this water every day. my joins hurt . i have body pains, i have to take painkillers to sleep or go to the clinic,

especially for of elderly people. the situation is painful. sandy paint bose if that is does that include all this dam 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 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 water distribution for the municipalities says. but why didn't all this happen much earlier? the quite a number of reasons are some of them, it's financial arrangements are obviously from the study, the point of view, we have a good 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 talked 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 that day 0. and. busy our efforts, you know, according to our 3rd 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 a municipality threatening to impose strict controls. in the poor neighborhood of

simple kazi, tim bonnie, 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 organization called gift of the give us a willing eunice bally, i blame 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 mike 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, ford slash africa on facebook and on our twitter as well. so be sure to check those out. thanks for watching. ah

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we only demanded call. yeah. let me please. what was that? they said no need that cuz we only demanding call you out to have us out. i'm calling on north africa. we do assemblies 77 percent. we can no longer give you a 30 minute response to have w numbers. oh and what interest the global economy our portfolio d w business beyond. here's a closer look at the project. our mission. to analyze the fight for market dominance. east this is west. good is still that head with the w business beyond.

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ah, this is detail. the news live from berlin. ukraine calls for an investigation into a missile strike, which kill dozens of russian held prisoners of war. president bush, dimmer zalinski, describes the attack as deliberate, mass murder, families of the dead rally in protest. also on the program.