Zimbabwe to sell gold coins amid inflation

The Reserve Bank of India has left the benchmark repo rate unchanged at 6.5% as inflationary pressures ease. However, the bank warned some risks remain.

Food prices have almost doubled within a year, and increasing numbers of retired people are falling below the poverty line. Meanwhile, the government continues to invest heavily in the arms industry.

The latest El Nino climate phenomenon has arrived, threatening floods in some areas of the world and droughts in others. Previous disruptive weather patterns cost the global economy trillions and stoked inflation.

Annual inflation dropped to 5.5% in the 20 eurozone countries. However, the European Central Bank is still expected to raise interest rates in July.

African currencies have lost ground against the US dollar this year, further driving inflation in the import-reliant region. Depleting dollar reserves have left policymakers with limited options to arrest the decline.

Zimbabwe is set to hold its general election on August 23. A dozen candidates are vying for the presidency, but the main contest is between incumbent Emmerson Mnangagwa and leading opposition candidate Nelson Chamisa.

Eleven candiadates are hoping to unseat President Emmerson Mnangagwa in Wednesday's election. Zimbabwe's electorate is skeptical of the opposition's ability to defeat his repressive regime.

Young people in Zimbabwe, including many first-time voters, could determine the election winner. But is Jamaican dancehall music enough to win them over?

As Zimbabweans head to the polls this Wednesday, we take a look at the dire economic straits the country finds itself in. Inflation has gone from the single digits in 2017 to 77 percent this month, the currency has crashed against the US dollar, and high unemployment has led many to emigrate. While incumbent President Emmerson Mnangagwa has played up improved infrastructure on the campaign trail, his opponent Nelson Chamisa detailed a plan that he says will build Zimbabwe into a $100 billion economy.

Zimbabwe's opposition is seeking to unseat President Emmerson Mnangagw's ZANU-PF party, which has ruled since the country's independence in 1980.

The profound disillusionment gripping Zimbabweans since the 2017 coup has left them questioning their fight for democracy. Experts say military juntas in West Africa may face the same challenge if they don't change.

The health and cost-of-living crises has disproportionately affected the poor and women in developing Asia, hurting their chances of long-term improvement.