tv The Stream Al Jazeera July 26, 2022 5:30pm-6:01pm AST
it american basketball star brittany griner has appeared in court in russia where she's facing drunk challenges that could see her in prison for up to 10 years. she was arrested at moscow airport in february for carrying cannabis oil invite kenneth is official from the u. s embassy were at the hearing and say growing to told them she feel okay. and the circumstances japan has executed a man convicted of killing 7 people from ohio capital had rammed a truck into a crowd of pedestrians in tokyo, in 2008. before going on a stabbing rampage, another 10 people were wounded in the attack. hundreds of people have walked through the streets of sal polosa to demand greater support for brazil's women of color. the protest is sate president, jaya ball sonata has done little to help women during his term in office or encouraging people to vote for his rival. in the upcoming elections of sonata recently increased the social assistance program for low income households. however, some argue the gesture came to mate
ah, as al jazeera and these, the top, sorry, c u member states have reached a compromise deal on making emergency gas cuts this winter. europe is facing an energy crisis. as the ration on firm gas prom reduces supplies from the north stream, one pipeline to just 20 percent of capacity out there. as abdullah shami has more from brussels, the you aims to a store about 45000000000 cubes. cubic meters of gas for this next winter. and at the same time that you has also given a exemptions to our members theater are not part of the european gas network. and indeed, at that point, they will not have to enforce the amen duty guard scots, if it has to come to it. so the u. a has been able to kind of figure comp midway between the countries that saw it as a, you know, not really possible to enforce that this kind of my duty caught at the same time
been able to secure what it says it needs for the next winter. the new head of moscow space agency says russia will quit the international space station after 2024 years. but to solve said, its focus will shift to building its own station. at nasa says it hasn't been informed about the move is railey forces have rated the palestinian village of colonel, aren't bonnie hassan. ne, occupied west bank. they demolished the homes of 2 palestinians who had been charged with killing a guard in april at the illegal israeli settlement of ariano. the international monetary fund has slashed its global growth forecast to just over 3 percent as conflict in ukraine and an economic slowdown and china take their toll says high of food and energy prices are expected to push up inflation more than expected. 5 protesters have been killed during demonstrations at a un peacekeeping base in democratic republic of congo. it happened on the 2nd day
of writing at the facility in the eastern city of gama. fire crews in california say they're starting to bring the state's largest wildfire this year under control. after dropping at 1400000 liters of water 5, i to say it's no longer threatening the nearby yosemite national park was the headlines. the news will continue here on al jazeera while after the stream. i'll see you next time, bi weekly. look at the world to talk business stories from global markets to economies and small businesses to understand how it affects our daily lives. on the dominant in counting the coast on o, g, z a i
i, as i me okay in your, in the stream gone as economy has been crippled by the impact of because it can demick romp, inflation, the war in ukraine pass at depreciating currency. now analysts the warning that the country is close to a crisis, i've listened to sammy jem thing, his organization that protests in the capital across last month. for the 1st time in the history of this school for public, the original information is moving around with the 720 each dog is all pretty good. and does she tell you about the persistence and a shuttle nickel heights and apply this especially busy cold? so today the ordinary junior is struggling to afford that is when you said the money to swim new city because we are so from your panel to talk to you
about gone has economic hardships. yvonne mensa, vio, thank you so much for being on the stream. if on please introduce yourself to after you as my names, you bongo. i'm be asked economist abernet since capital get to happy mensa, please, the hello to have you as around the wells. yes. hello. my name is mr. thompson. i am executive director of an antique options. i think it got called a ship. i'm gonna, i'm also here with the member austin for sure. all right. looking forward to hearing more from you and see i welcome to the stream, please say hello to have you as around the globe. yes. hi everyone. my name is cynthia jones, one economist and political risk. and i was calling so confused on the continent, including donna and aspects. so if you are watching right now and you want to comment on youtube, you go ahead. the comment section is right here. the my guest, ah,
i want to take you to the market and the crop out a months ago. that's when out a 0 was out and gone a reporting just to get some groceries economy and the economic feedback from some people who know when that might have food discounts are going up. and when it's gone down, it's happening. i use all to ranger thing. it's serial serial. got crying out loud, they got me something on. i got a he said, i want to man. so you surprised to hear those opinions by ladies in the market? like we can't afford these prices? how would you explain to i'm to national audience? what's going on?
absolutely not, i'm not so i'm not surprised. the big one in science has been there for the past 2. yes. it only became aggravated this past few weeks when. now that people are beginning to realize that, hey, we are, you know, scary t n r to pull up to get into actually a breeze. the reality which a lot of experts and analysts and economic watch has have been, i've been found and for quite some time now. and we're here due to a number of issues which are from our estimation have very little to do with the global economic climate. i the russia ukranian war which you are the the true. yeah. as far back as 2020 and one. and because so many others, if you say that god has issues and not connected to a couple of things that is impacting not just on other african neighbors,
but also the whole world. so it created crisis. and right now, food has gone up, i'm feel was going up around the whole are gone as a mean to that. that's not a problem for gone either. it is, it is a very large extent. i to back, there are other neighboring countries who i've also been hit by the same global crisis, but not i did. i did exchange for degree, which gonna be in effect and gonna, you know, i'll perform miles on in the south region when it comes to economic issue. feel more like the buffer for the region. and so a lot of countries look up to us and we, we out of the fam believe that, or if there was prudent economic management in the past. who yeah. level of impact, dizzy global jew, economic climate would have had a economy. what are the next to p w witness? and i said, you're still saying so. so man's house hold
a tight one to norma. i just want to bring back in the oh here i'm cynthia. what makes a saying that it's not these outside circumstances like co, vague and ukraine and the russia comes like, it's not, not that's gone is essential problem. it's bad management back government via them. absolutely. because there are actually 2 factors here. thirsty external shocks which m semi am, is actually are discussed or reference, but internally they also domestic factors that need to be taken into account year. so even before russia quinn and oh, so i would covered or the government had literally been on a dead bench with a lot of burrowing, which was adding onto the public dead. and the one is st. somewhat were there. so in to an extent is actually a mixture of 2 teams. what is happening? i thought so once again i, i tally is not just the economy in ghana but with our challenges actually keying
fia. the are some of the thoughts that we are getting from our online community here watching right now on youtube, and i'm gonna share this with manson as well. it's a mentor on youtube, our audience or wondering will isn't this just corruption in garner and i have to say it as a nigerian. i look to next door, neighbor garner. and i also think that it's like the standard you set the standard . hi. how can you be in trouble in god? is it crush? x treatment me and i think that the kind of corruption we're witnessing ma'am, to a very large extent and is pretty much unprecedented. and i, for the past few days, we've seen a lot of global internal repulse beach in, out by the government groups who are reason, the concerned about the muscle corruption and the pumping of what the corruption in government at this moment is the debriefing corruption. and also the response from
the government point of view. and we believe that it drives a little confidence away from the system because the capital markets and the global or international play. yes, we're looking at gardner, we're looking at how to pub gonna resolve its economic difficulties. ow cds, reason of corruption that are being treated every now and then and be seen very little action being taken. and so now people are, become quite neville's about even lend it to gonna because the loop that's a huge chunk of these minus are going to be exec peter to corruption. and the lack of political will. and the sheer encouragement of corruption. couple of governments, are you depress it? this is what is our major consent for the past few days, the principals have come and that i mitchell kilograms over his confidence. and his approach to the fight against corruption. who,
which analysts have described him in a certain memo names, which i don't want to repeat, right? i am just bringing is on. so you don't have to repeat yourself. evelyn, i'm just looking here at some of the thoughts i've been getting in from twitter. so inflation is county at 29 percent, roughly a fuel food and transportation are at an all time high. but in 2019, i know that you were talking to you. i am if he were visiting donna at that time and it was a very rosy picture. can i ask what went wrong or, or is that the right question? what is the white line of thought headline from your perspective? i think a big reason gonna finds itself in this position today is the a crisis that have befallen the country since 2020 so covered 1st of all. and now the ukranian invasion, as you rightly mentioned, i was in a crowd early 2020. at the time the country all the current administration had managed to bring down that budget deficit to the low single digit as
a share of g d p. i remember early that you had the good and see the was one of the best performing currencies in the world and the i, m f had nothing but positive things to say about the country. and of course, a month later, we had the pandemic hit. so i do believe that a lot of what the experiencing today is due to external, a events that have led to the fiscal, a situation deteriorating so dramatically. all right, said mr. kasey, here on the, on twitter says this ever on. if he comes to mind back to the 19th and early 2, thousands, one could see a patent 3 kit, things stand out for gone as count, economic was, lack of leadership, wrong social intervention, and corruption. do you agree with any of those 3 points? corruption is not endemic to god, i want to say, but i think one of the characteristics of gone that's been disappointing, but thank you for the investors that we do speak to is the fact that these fiscal
crisis seem to be occurring. typically though they do occur in the one up to an election, and as we know, a good gonna has a 4 year cycle. so on the current administration came into office in 2016. they had to clean up the fiscal situation and bring donna deficit of dramatically our as i mentioned earlier, the current fiscal situation. the current that finds itself in which is resulting in these are still measures on the ground, is due to external factors combined compounding the, the current vulnerabilities in the economy. but i do take the i posted on twitter comments quite well. yeah, the is correct. all right, so let's bring in a gone as minister of finance. gonna earlier this year was adamant that they were not going to call in the international monetary fund. they were not, they could deal with their problems themselves. he's a little crypt so you can hear how passionate the minister finance was about not
contacting the i. m f. we are not going to that i am with whatever we do. we are not the consequences or proud nation. we have the resources, we have the capacity. don't let anybody tell you dio, what happened? i am not going to the i m f and then july, the 1st the i m f team in across trying to work out how to help gonna again i think it was a difficult one for a restriction. and i did it because the rhetoric before going to the i m f. and even before they came to pile was that they had busted, i see that they're not ministration for making a similar move on the basis of one. can. you also extend much of the slow down in china and related matters. but some of us actually did indicate that the
direction in which the economy was coming and the waste management in money, including things to do with corruption, which when manifest and public contract was ultimately to lead us to ad dish and the place where you have no other option to see the item and i kind of like to slightly disagree with you one on the underwood causes. so if we say you clean the past and they're part, but if you have to look at the trajectory and the numbers, including the assessment that have been done by others, like the world bank, et cetera, we already and rate of high district for the country fix them, but also the one that knows and this will mean before russia, ukraine, and before that makes sense is actually to call this the external factors which we've described but important pretty in been compounded by the weak governance and
across the board. fiscal invisibly of the, of the government. that's what we do on the, on youtube. this is how christine describes how you describe quite i'm just gonna say, politely, christy says at cooper, i do is a failure on a bad leader that he's coming from micro scruffy. it's comments on youtube. guess i'm going to get you to engage with some of the comment tree that we're hearing, but very quickly so we can get in as much as possible. so this one is for you men. so why i m s. are there any of the options men, stuff, quick, responsive, 30 seconds. well, there are a number of options, but we believe that i'm, if i'm, if would be a shutdown remedy. who couldn't as bark on san francisco. recovery of the economy by that huge chunk of the long term recovery, which cannot be given by the i m f, cannot fight option for us. the iron man cannot help us to be food sufficient.
there are certain decisions that would have to be taken my be under government level and leadership level, and it takes a lot of fun to call to do better. all right, ava, i'm going to put this one tennis one from tiffany. tiffany, thank you for watching. appreciate you. at this point, jelena has no choice even if i that i am at bailout, or society breakdown and city of famine is out to extreme from tiffany thoughts. yvonne, i'm well given be indebted us, we are seeing globally many fear that if gone out did not engage. yeah, i missed, don't go the see lanka route. so i do think it's a positive that they've engaged the i met it does aside from by that endorsement, that damage does to other finance is it does. if there is a program that follows discussions, it does open up re open access to external financing, which is what god needs at this point in time. all right, so one more from william,
this is on you cheve. i'm going to put this one to you t o, very fast response, please. a weekend to move from a consumer to a producing society. that's too much dependence on exporting goods, coupled with corruption. that's not a good combination, t o. quick response. yeah, i'm still okay cuz i mean in terms of fixing the problem, the structure on issues we have to do, we want you grow and eating, want to grow. and to another extent, we need to a productive base of the economy, particularly agriculture and manufacturing. and i mean, that's a long term project that needs to be connected to work on my own to political parties. okay, man, so what did you just write down? i can see you out of the corner of my i hope it was interesting dish. tell us. yes . that i think not to tie in what few said with the fears and that would be strong results in the past. my goodness, for last minutes the doctor won't go. we're not going to go to that. i'm there for,
i mean, i'm done really aged about the bad financial reports that have been seen and that this current financial minister who has been cooking his financial figures, who has been mis reports, i'm going to say coming detached to the international market. and other people just to create impressions, i see we're doing well when actually our company was sinking. that's why there was too late for a lot of last for a little people to see it. and also for a lot of integrations coming in late because of the fear that some of these be tough to have my to pick up could be found out by the international. please. i'm just looking, i'm going to show some of our audience after you as some of the protest video that we recorded, went out there was reporting in across few weeks ago. what does this mean if on when you see people out on the streets, protesting against that government's fiscal policies? what does that tell you that the current policies are not working?
i must also though add that we are seeing several approaches throughout the frontier markets and emerging markets. this is not just specific to gonna part of this, of course is reflection of the, a dramatic increase we've seen of commodity prices in particular fuel food and fertilizers, which i don't think is specific to gonna in itself. but all of that said, the responsibility of government is to try and mitigate the impact of those price increases through various policies. and the thing is, so what we face in a lot of african countries is the buffers are not, they are in terms of the, the fiscal space that's available in order to put in the mitigating measures is limited in the case of i'm gonna, and i guess that's part of the reason the approach the i'm at i'm going to, yes, yes, i think i had yes, i totally disagree. i think we are down here. we know exactly what's going on for
the last couple of years to have a good h. yes. we know the global light needs and all those. we know that these protests and these hot shapes are not limited to form began them. but you do need to start. ghana has been to write an example some, some few years ago. one of the fact that women economies would be pretty much better. and so the question should be asset. how did we decline? i don't think obviously it does come down to that would be international shocks, which you'll still monitor will not return. i think that the be the management level of the kind of governance that, that people are going to have been sent with in the last 4 years has been very bad . i've been very busy and effort. tim pointed out to this particular outcome with or without, without russia preening war with that corporate 19. gonna still be talking to the next 2 days because of the bad management option and, and the current marketing of leadership that will be separate if one is that
something you could see in the future because a 2020 you were looking at a, a better future for donna, this is a because i'm going to move on to see what do we, what do we do next? okay, go ahead, yvonne. okay, so my question for sam was to ask it in the 1st term of this administration from 2016 to 29 team. did we not see the budget deficit being narrowed us substantially? in the case of, of gone i, it's a so my impression is that just gone at the time based on what has happened on the managers in 2020 yes. belinda telephone as miss as presented. you remember just a few years ago. damn. if had capitol tell us that our deficit figures were not a creature because some 2 huge continental cli by that had been treated. i've been on the line with you as a broker is make assignments,
any one on which i'm going to pause you just just for a moment because i want to bring in another thought here and also some ideas. but i'm just going to tell our audience that this i am f bell out if it happens, will be the 18th in gone as history. so gonna repeatedly is asking for help financial help from our side. this is not unusual for countries, but for governor, this is 18th time with the i m f. in particular. let us move forward a little bit fear. i know that you have some ideas and some solutions. i'm going to go via david your morley, who has some ideas about how gone i get out of this current situation. he's a skeptical about the i m f. have a listen to david and then share some of your own ideas to the oh this is fear his david festival says now i bet. did you, did you is you is about 97 percent. so die american about your solution. the also
been on board policies that will lead to replacement workers. the also dean bas allegra economy so that i am a kind of i be a solution. the solution i have you with us less are brock deluca use in, are packed in written mechanisms less to reduce the amount of money we give to foreign companies in any more, incentives, less reduce karachi, less reduce the size of government. where what we'll do old is nothing we don't move are hungry for with to the point that we get a variation. it's actually around 78 percent and not 97 percent about i do agree with the point is made. but i think fundamentally the starting point is we're going to actually agree a debt restructuring program program, you know, with its creditors. and this could be done that you 20 for with, you know, and it will give the country much, much needed a 2nd me and the point to which is that this is a little with this. a lot of,
you know, i wish we didn't how we run the government machinery where you could actually argue that the people that we upon the size of government manage this and it needs to be cut down within that. also, you need to actually implement the structural reforms that we agreed to actually last program. the final to many of the program areas which we 7 will commit to include in reform in the payroll system, getting rid of pay goes like et cetera. that was not done and you know, if you don't do that, you will come back to the same issues. tell me, i think the issue really has to do with growing the economy. and i important point related to that by which also somebody probably the inflation issues within actually is to do with the central deficit financing on the budget where the
literally printing a little bit more money and engage in extend. i'm a question which is vital, are driving the leasing so it's not just really due to russia, ukraine, the effect of that is that much, much more deeper issues that and the pain where we're no contract. because if you look around some region giving united way, you don't see similar issues. and i regret, i let me go to thank you so much every but i'm going to share the final moments of asha with our youtube audience because you have so much to say are many of you. so our amos government must reduce corruption. the unnecessary government spending is too much. let's stop all of this and see our nation develop economic forum. even if the expected i am, if program comes with a much needed balance of payments, support god, i will still have to restructure its expenditure through fiscal contingency
measures. so much wisdom in the u. g of carrots. i hope the government of ghana is watching the show. thank you so much for being part of the program. theo mensa, anna von and all of our view is on youtube. appreciate it. i'll see you next time. ah none of buys of defiance. it's really touched. my heart deeply when she started to sing yolo, i see out is there a world remembers of allison in singer who reached audiences beyond the middle east or into a korea to family in nazareth, she sang out a powerful and emotional message, the personal story of re banana,
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