Article Author:
Associated Press
Farai Mutzaqa
Harare, Zimbabwe (AP) — Jeffrey Carlos worked as an overnight security guard at a church in Harare's impoverished Mabuku township before I hurried home and helped him. His wife fetches water and sells it.
Persistent water shortages mean that most of the capital's over 2.4 million residents will have to procure their own water. Carlos is lucky because the land he rents has a well from which his family can fill buckets of water and sell it to their neighbors.
"This is our gold," he says of the well water.
"If you're lucky, he can sell up to 12 buckets of water for $2 [per day]," said the 50-year-old father of three. . He said that was enough money to buy food for his family for the day.
Rising prices and a rapidly depreciating currency have pushed many Zimbabweans to the brink, with the southern African nation surpassing his world record of 5 billion percent in 2008. It reminded people of when they were faced with inflation. From 191% in June to 257% in July, many Zimbabweans fear the country will slip back into hyperinflation.
To prevent a repeat of such an economic disaster, President Emerson Mnangagwa's government took the unprecedented step of introducing gold coins as legal tender last month. The Reserve Bank of Zimbabwe, the country's central bank, said the value of the one-ounce, 22-carat coin is determined by the international price of gold, so it will help curb runaway inflation and stabilize the country's currency.
For Zimbabweans who struggle every day to earn a living, the glitter of gold coins is invisible. The government sees things differently and is begging it to take time.
Although the average price is just under $2,000 per coin, Central Bank Governor John Mangdeer said the coin had a trickle-down effect and eventually averaged $2,000. It will help people who are interested.
"Ordinary people will benefit more from the stability these gold coins (offer). Where there is stability, money has value and prices are stable." ' said Mangdia before the launch. He said the central bank plans to introduce small denomination gold coins in November so that the public can use them as a savings mechanism. 1 ounce, 10% of an ounce, he said.
But many, like Carlos, say they can't afford food or have enough money to save.
"Where do you get the money to buy the gold coins? It's for them, the rich. Poor people like me don't know the difference. Things are going to be tough in this country." ', he told the Associated Press between going to the well to get a bucket of water.
``Gold coins are a ruse for the elite. is there?” said in an online discussion.
With so many Zimbabweans struggling to get food every day, it is doubtful whether gold coins will help them. Most people may not actually have money to save in the first place because they live from hand to hand, and most people are in survivalist mode because of inflation,” Harare says. -based economist Prosper Titanvala said.
Many people are forced to work multiple jobs to survive.
Carlos of Mabubuku says he earns about $100 a month as an overnight security guard at the church and next door bar. That's not enough to pay rent, school fees, and other basic needs. Sometimes he trades water for food.
``If you go to fetch water for someone, they have no money, so you can get tomatoes, vegetables, beans, or corn. is how we get food," he said.
His wife, Christwish, 43, cooked dinner for the day over a wood fire, using her staple corn meal and vegetables from a small kitchen garden. Prepare Due to prolonged power outages in Zimbabwe, children are using candles to do their homework, but parents pressure them to use candles sparingly.
``Firewood costs $1 and you need a small bundle for one meal (enough to cook). Christwish, who supplements her family's income by doing household chores, lamented.
Items previously considered basic were now out of hand, she said.
"The last time I ate bread and margarine was on Christmas Day," she said. "Now we just see these things in the store and leave them there."