tv The Stream 2020 Ep 67 Al Jazeera April 30, 2020 5:32pm-6:01pm +03
5 and another indicator of the widespread economic devastation british prime minister abbas johnson is leaving his 1st weekly cabinet meeting since falling ill with coronavirus new figures have pushed the death toll to more than $26000.00 the lebanese government has approved a financial reform plan for its crisis hit economy the government's been under pressure to act after demonstrations were held in several lebanese cities for a 3rd straight night yemen has recorded its 1st 2 coronavirus deaths sparking fears of a major outbreak in a country ravaged by civil war 5 new cases were reported in the southern port city of aden takes the total number of infections to 6 nationwide. it's the stream now stay with us we're back with more news at the top of the hour with adrian as coronavirus continues to devastate the united states the race to the
white house goes on joe biden has all but secured his place is the democratic nominee but can he be still trying to join us for continuing coverage of the u.s. election 2020 on al-jazeera. to be ok and you mean. the coronavirus time to make in different countries around the welsh there are certain similarities that we've gotten used to seeing the medical professionals have the equipment they need when i see house cases tonight how resilient is it how people handling look damn lucky jaimie going to look at those 200 years in the context of a russian so if you have experiences or stories or questions that want to ask and i'm not sure you can do that i'm jumping in the. let me introduce you to our guests most of all we ought to. welcome to the screen please tell our audience who you are
. thanks for having me. russian journalist based in moscow working for the most part i'm. on the ground journalist. at the oldest independent newspaper in english language newspaper in moscow. good to have you had mark welcome to the stream tell our guests an audi it's who you are. i am our moscow based international affairs and security analyst. and i sadly anastasio welcome to the studio intelligibly what do you need to know about your money. we're taking you to beirut where the prime minister of lebanon has speaking addressing a new economic plan let's listen in economic plan to avoid the state of the.
graduate the lebanese as we now have a clear roadmap plan to words how to manage our finances today i can say we are on the right track to take lebanon it of the this financial crisis it is a financial correction plan that comes days after the state has. put its hands on this. telephone section sector. my fellow countrymen and countrywomen what we are living through is not. a circle way of circumstances it is a number of cumulative krises that have all culminated in a way you know we. this government was formed out of the ordinary and also this
government is faced with an abnormal situation at all fronts and at all levels since. february 17th as all that have been is defaulted against corruption it has come clear that corruption is big has become a state within a state and the state. and corruption and corrupt institutes are deep within the state and institutions it has also come clear that the state was on the verge of total collapse and the financial reality is based on unrealistic figures and the extant rate of the lebanese pound is an illusion that we live in and believe and as the newly formed government was starting its
duties taking his. decision to default on the debt at the step towards remedying the financial situation of the country we are hit with the corona virus which has exhausted a great amount of money time and effort however the government has addressed the virus with keenness and great perk ocean yet it did not falter on the financial reforms as we have initiated a work program as committed in our initial statement it included. for projects from day one. till today we have managed to fulfill 14 draft bills and other draft laws are being prepared within days that remaining 8 will be completed
on due course of the most prominent. draft laws related to the secrecy of banking information and also the government is cooperating with the justice minister to examine other draft laws relating to. combat inc corruption and then dependence of the judiciary and this draft laws are now presented to the parliament. in a parallel level the government has intensified its efforts to become pro to comprise the whole inclusive reform economic plan however regretfully we are faced with. an exacerbating society. crisis which led the lebanese people to take to the street and it suppressed their
anger made the rising prices soaring inflation and devaluation of the lebanese and. this should be addressed by certain measures by the central bank which is responsible for our national currency we cannot blame the people for their outcry however we cannot also. accept that the state property public and private be destroyed. we also cannot accept that this right is spontaneous. and it is not without an agenda this riot. insult to the injury a. peaceful demonstration is one thing riot violence and all sold on military and civil property public and private is something else it has
nothing to do with democrats. poverty or hunger. feels that these practices will deteriorate the efforts we have initiated to combat the coronavirus especially we believe that a 2nd wave of the pandemic. will prevail and will be more. than we had planned to reopen this state institutions and other commercial talks gradually and last week and on next monday we'll start the 2nd phase of 3 opening however i call in all that have been nice citizens to observe the measures initiated and the strictly comply with all the orders and decisions otherwise. we would go back to square one as we were weeks ago today we are at the
peak of the pandemic and we have adopted a very advantaged for addiction model. to assess and estimate the future infection cases and if we comply to the measures in place and strictly observed the preventive and precautionary message measures we believe the 2nd wave will be in july will be less accu than the previous and the 1st one. fault. the 2nd wave will be severe or 35 percent and the total amount of infection cases. will be higher 56 percent i repeat it will be more severe and more ferocious than the 1st wave of the pandemic. according to the properties of this virus it is prone to reemerge in
a more severe and more executed for leading to more death as a result as you see many countries worldwide have again come back to the total shutdown and we do not wish to see the pandemic outbreak claimed the lives of our beloved ones we have been cautious enough. and the 1st wave of the pandemic as a result we manage to save lives and it is noteworthy that fatalities in lebanon is far lower than many countries in the world why and as you see. the global. and global map of the virus is varying from one country to another. we are not yet in the final stages of the virus and i believe we are going to live with it for
a long period of time and i call on you not to undermine our sacrifices and our achievements let's get together. to stick to the plan laid down with vigilance. and responsibility. any responsible act will come back with will bring about catastrophic aftermath on the whole country. my fellow countrymen. today the cabinet of ministers have unanimously voted on the adoption of the financial reform plan that will bring the country back on the right track 2 words the financial and economic salvage it is based on 6 component financial economic banking monetary social and
development. reforms it was 1st presented to the cabinet of ministers on april the 6th and over the past 24 days we have come to this for it has been put to extensive discussions over a number of meetings by the cabinet with experts financial. professionals and also representatives of various sectors financial academics industrial and other n.g.o.s all these discussions and meetings have brought about an all inclusive comprehensive reform plan with courage ability that could bring all that have been is behind it i am very proud of our talents minds and exceptional capabilities of the lebanese experts and professionals who have devoted their time and efforts in order to bring this plan to the light i
thank them from the bottom of my heart and with this plan as a stepping stone we can build lebanon and we can our future we will continue with the request of the international monetary fund and we will engage. seriously you with. carry deters as a result we will reduce the burden of debt on the shoulders of average citizens and at the same time will present this reform plan to our partners within and beyond the. call on all little billions to consider this particular day a turning point thought bright future and i again the future we're not the. road ahead will not be paved yet the plan will enable us.
out the obstacles laying ahead if we are united and if we're the many united we will achieve the success looming in future that the plan demands an immediate implementation of that informs at the level of the state authority financial. central bank. current account balance of payment and the plan includes a 5 year objectives to reduce the deficit to 5.6 percent to obtain financial aid beyond $10000000000.00 addition to the sad conference funds and as of 2022 we will start a positive. development project with certain societal
aids to the under-privileged family. the program also includes. civa surplus and the total budget in 2024 and to reduce the. general data. below. 100 percent this will steer lebanon away from any future turbulence. plan on. restructuring of the financial and the banking sectors in order to bring the economy back on its feet and provide sustainable job opportunities and also reinvigorate promising economic sectors that will meet the high quality is of the lebanese the plan is built on certain foundations that enable 11 until today in financial aid in order to bring the wheel of its current to me
rolling again provide the necessary safety networks and other infrastructure needed in order. to take the lebanese above the line of poverty. with the spaces of public finance we will carry out the basic folds including their electricity sector pension. tax systems that will not cripple productivity and. also the issue of. acquiring of the embezzled and stolen money in order to compensate the rights of the lebanese law the plan also includes other structural reforms in all aspects of economy to provide top of fortunately and pave a positive and healthy atmosphere away from corruption.
it also takes notice of the measures that enable boosting productivity and competitiveness as to the banking sector the plan aimed. at protecting the deficit. private deposits structuring banks in order to secure the necessary funds to the people and basic services of economic activities. the central bank will live up to its core duties to protect the financial and monetary system and the system is hit with grave losses and we should all state institutions central banks and banks come together took the brunt and we will work the words absorbing. the pact swiftly without
laying the brunt on the shoulders of. people we will also consider. the contribution of donations and those who have violated the laws. public funds we can also rely on certain banking institutions and their asses and vestments and their property beyond within lebanon and beyond we will also rely on other assets we will continue to consider all the options that will create the burden on the shoulders of average citizens and bring the economy back on its feet in a society where there is no room for corruption and accountability prevails. today we are at a very important. crossroads as lebanon
our homeland requires and need and all. and the lebanese have proven beyond any doubt that they will not abandon their homes and they are preparing to come back from wherever whatever the. lebanon is their homeland and here is the extended family. we cannot our back on our country we cannot abandon our homeland lebanon today needs each and every. aspect of effort you want to support and help here call on all the lebanese within and without. every lebanon capable lebanon those able to help his fellow lebanese
citizens do not abandon your fellow live beneath this crisis address the. lebanese citizen within to stand together help one another protect one another and to the lebanese. on appeal on you to continue to support your relatives then your fellow live any is here and continue to support the country yes it is true it is a crisis we are in a crisis yet i am certain that we will brave through the crisis and we will try and we will exit this. life. more robust more stronger more powerful and more united. lebanon's prime minister has and. speaking after the lebanese government approved
a financial reform plan for the country's crisis hit economy the government's been under pressure to act off the demonstrations were held in several lebanese cities for 3 straight nights promise of the cold all lebanese to regard this day today as a turning point the road ahead he said will not be easy al jazeera saying the harder it is live for us in beirut she was the state's what prime minister was saying what do you make of what you heard saying. well prime minister always says the right things but the question is is he able to implement them we've heard him say since he's taken office that he is pushing to fight corruption and that he wants to retrieve public funds stolen public funds yes draft bills have been issued but they have not been approved in in parliament if you ask people in the street they'll say how can he go after the same politicians who
brought him to power his hands are tied but levanon hands are now tied it seems that there is no other choice but to resort to the international monetary fund there is no cash the state is close to bankruptcy the local currency has devalued and we heard the prime minister say that they will have negotiations now with the i.m.f. he talked about reforms it has been a longstanding demand from international donors they've told levanon time and time again you make promises that you're going to reform the structure of this state but you have done nothing now when they said down with the i.m.f. painful decisions will have to be taken will 11 on allow to privatized some sectors for example this means that the politicians who are in power will lose the ability to exploit the state's resources for political gain that's why they were so reluctant to resort to the i.m.f. but now they have little chance and you heard the prime minister keep on stressing about restructuring the banking sector this is raising
a lot of concerns in lebannon especially the banking association there telling the government you keep blaming us we lent you the money you spent the money and now we don't have the money to give to the people why do you want to target us in your campaign to restructure the states because what they're doing is that you're not encouraging people to come and invest in lebanon he's calling on the diocese who are to help this country well the diaspora has been putting their savings in the lebanese banks for so many years and now their savings have lost. value and they have no ability to access their savings in fact he is up against an uphill battle but like i said at the end of the day many question his ability to bring about change if the people behind him the political establishment will allow him to do so i suppose the proof will be what the people make of what they've heard from the prime minister about this plan. well what
they would like the government to say is that retrieving stolen public funds is going to be a priority that politicians who are involved in corruption scandals they will be held to account instead of the government talking about the increasing taxes yes those taxes may be on a luxury products it may be on income tax on high wage earners but the end of the day he didn't mention anything about the local currency the reason he threw the ball in the court of the central bank they didn't fixed an exchange rate there's like 3 or 4 exchange rates now adrian in the country one an official rate in the bank and then you have the black market because there are no dollars in the country that people earn their money in the lebanese liras so their money and their incomes have lost value but at the end of the day you heard him talk about the coronavirus and how lockdown measures really reduce the number infections a lot of people we've been talking to say if it wasn't for a coronavirus would be more people will be out in the states but we're still
worried about a 2nd wave but at the end of the day as people grow poorer this economic plan is likely to change everything overnight there are going to be long negotiations with the international monetary fund and we heard the prime minister say we need $10000000000.00 that's what he said $10000000000.00 this is a cash strapped state we heard the central bank governor say yesterday that there's $20000000000.00 in foreign currency reserves and that is slowly dwindling so there is a deep financial and economic crisis in this country or it's an many thanks indeed so you know how the reporting live from beirut lebanon surprised us a house and. was talking off of the government to prove to financial reform plan for the country's crisis hit economy the prime minister saying that he's confident that we will overcome this crisis we'll have a lot more coverage of the prime minister's comments coming up here on al-jazeera
we will take a short break at this point but i'll be back in just a few moments with a full hour of news will take you live to washington and new york among other places i'll see you then. we know what's happening in our region we know how to get the date this that others cannot i was done but only dear god by the footy the only purpose i did there had the time and if programming to go live on the amazon to go live to work another boy that may not be mainstream but the fire system or normative. that. by. the way they tell the story isn't what can make a difference. becoming a living legend to the young age was simply not enough. he transformed his influence on the pitch into political clout the book piece to the ivory coast. hosted by eric cantona super bowl rebels begins with
a look at the life of detroit from the football team succeeded with politicians of no. d.h. and the odd boy and simple on al-jazeera. the stories of abuse in aged care homes in the west to show the world that there's no snow to wonder when he speaks those sending elderly loved ones to thailand to live out their dogs on al-jazeera. be the hero the world needs right now. as corona virus continues to devastate the united states the race to the white house goes on joe biden has all but secured his place is the democratic nominee but can he beat donald trump joining us for continuing coverage of the u.s.
election 2020 on al jazeera. holding the powerful to account as we examine the u.s. role in the war on al jazeera. this is al jazeera. hello i'm adrian for getting this is that he is a live from doha coming up in the next 60 minutes more than 30000000 americans unemployed in just 6 weeks the financial impact of the pandemic shows no sign of slowing in the u.s. . it's not much better in europe new figures there show the e.u. economy suffered record losses as well. after months of protests a planned attack.