going international pressure on, on, speaker to acts. and of course, the, the teams that we're possibly going to be facing russia in the work of play off nicely. poland, sweden and the public. they refused. they said that they've refused to play russia in the work up qualifying player next month. so that's forced the issue with the for, but it's been quite a turnaround because they were with the slowest of the booth sports organization to, to take a stand against the russian version of ukraine. and a quick reminder over the website. there isn't a screen al jazeera dot com ah, top of the headlines here. russia's pushed towards ukraine's capital again to the 6 day full. we have reports of dozens of people have been killed and injured in the country. second largest city car, keep russian forces are accused of using cluster bombs, which are banned in more than 100 countries. ukrainian president,

blowing me as the landscape calling for no fly zone to stop moscow's bombardment. i see you silly, so would you all still go to the russian forces severely shall car, key or houses were destroyed, a lot of infrastructure was destroyed. video has proven that the target people's buildings up. it's a war crime that should be investigated, and no one will ever forgive you for targeting civilians, ballistic missiles, artillery. this war has to be stopped immediately. i suggest, and i believe that the sky needs to be close to russia, mythical city. and the international criminal court is to investigate russia's invasion of ukraine. it says, as reason to believe war crimes have been committed. meanwhile, negotiations between the 2 countries have been taking place of the feller was border on monday, but no agreement was reached. it comes as a massive russian convoy estimated to be more than 60 kilometers long and said to be advancing on the capital cave. satellite images show ahmed vehicles, tanks, artillery and support trucks position to the north of the capitol and several

african countries including nigeria and south africa say they're trying to get their citizens out of ukraine number, then nationals accused ukrainian gods of discrimination. they tried to cross the border and turkeys activating a 90 year old international treaty to prevent warships and passing through to key waterways. the 1936 montrose convention gives the authority to close the door to nelson boss for straits and times of war. president, russia typo on, says the decision could prevent the crisis from escalating dozens of volunteers from georgia signing up to fight russian forces in ukraine. bag gathered outside the acquainted embassy in tbilisi monday and the governing bodies of global and european football law banning russian team. some all international competitions, including the 2022 will cup and the international olympic committees asking sports organizers to blacklist athletes from russia and l. a. roots? well, those are the headlines. the news continues here now to 0 after counting,

hosp sturgeon, dr. watson buckner. ah, once city dwellers now posted to remote villages in morocco, algiers follows the personal journeys of 3 women teachers. their daily struggles with isolation and battles with physical hardship. sacrificing their family lives for the education of future generations. women in the winter on al jazeera. ah, i ah, hello, i'm money inside. this is counting the cost on al jazeera, your weekly look at the world of business and economics this week,

limping from one debt crisis to another argentina town. so the international monetary funk to restructure $44000000000.00 bailouts. but r i m f loans, a financial rescue, or do they have nations in desperate need? also this week the financial institutions accused a fueling the climate crisis. and the report says, banks have channeled $1.00 trillion dollars to cold alone since 2019. so we'll lend us ever quit the industry. and global warming is threatening the polls drinking water security. the south asian country is known for its heavy rainfall, but precipitation is faltering. so how a pharmacy tackling the 1st for irrigation ah, argentina is latin. america's 3rd largest economy. but during the past 70 years and

has endured one financial crisis after another, one of the main problems is it's board too much money to cover its own public spending. that's included loans from the international monetary fund, which it hasn't been able to pay back most of the time. but again, it's now looking to tango with the i m f. the government reached an initial agreement with the international monetary fund to refine us more than $40000000000.00 in debt. last month. the deal ames to revamp a $57000000000.00 loan deal, agreed back in 2018 which argentina panel pay. and it would give the country at least 4 and a half years grace period before starting to pay back its debt. but the government would have to be slowly reducing its fiscal deficit and cutting the central banks, financing of the treasury. but many people in argentina oppose the deal. they say austerity measures imposed on the country by the i m f. have led to increased

poverty. inflation. is that over 50 percent? and many people can't afford to buy even basic goods. the central bank raised borrowing cost to 42.5 percent more than 2 weeks ago. it's 2nd rate hike this year in an attempt to bring down the cost of living. teresa book reports from when as aires. oh, it's a culinary hot spot in the central market of when a site is and people here pride themselves in cooking the best spanish or b as in the city. but with the countries inflation rate at 50 percent. but the seattle lydia ileal says she has to make an extra effort each month to keep the business going out of the not a sequel margin. tina is a disorganized country, but we learn to serve the situation. it's a constant challenge. the learning experience or products are very good quality, i don't want to reduce quality. so what i do is try to sell as much as i can. so again, in quantity and don't have to increase the price as much. the government has been trying to regulate the rising prices with controls and other economic measures,

but it has not succeeded. inflation have been a problem for arden kinds per decade, and that's why people implement strategies to protect their income in this market. for example, waters need once a month to agree on the price of certain cuts and they promote those prices. in car voids like this one, the problem we're told is that this among the price of fif went up around 7 percent . so now they have to change this cardboard once again. jose luis hello now owns a butcher shop. since epidemic beef consumption has dropped significantly and he's still trying to recover from the economic impact. boiler grammar is the beef culture in argentina is a huge with barbecues. every weekend, what we see is people not eating is much be flagged before, and they argue to poke and she can insert it. oh, inflation for it is the government to guarantee that salaries and pensions increase to keep up with a constant rising prices. protest like this one show,

it does not always work. argentine and international monetary fund, or in financial talks to negotiate more than 40000000000 in debt to target inflation. but economy say the fight to control rising prices won't bc for bike or argentina. there are several factors that have an impact on inflation. that's why it's so difficult to tackle, unless there is an integrity plan that attacks all those causes of inflation like a monster with a 1000 heads. argentines have gotten used to living with inflation and many have found ways to survive it. but it's a vicious cycle that has heard the country's chances of achieving long lasting economic growth. there is, i will as a feeder when a fight if to discuss all of this on join now by humana, blanca research director and head of america's risk insights at various maple cross . she joined me from analisia in spain. thank you so much for your time. now. the

principal job of the i m f is to bail out indebted nations. so why are so many people in argentina against the i m f? well, i mean, i think we need to take a historical perspective for that right? argentina nearing to dust and agreements with the i m f and the country is still stuck in, you know, cycles of boom and boss. so there's a lot of concerned, you know, lack of trust that an agreement with the i m f a will actually deliver the results it's expected to deliver. now interestingly, the most recent polls show that a small majority of people, so just over 50 percent, actually want to reach an agreement. the question comes about what's in the detail of that agreement, and that's where people are a bit more concerned. okay, we'll talk about the diesel in, in a sec. but what's interesting is the m f itself has criticized the deal and made with argentina back in 2018 when christine, the god was the head of that 40. what does that tell us? well, i mean, let's just put it this way, right?

this is the largest lending facility that the m f has extended to a country, right? argentina loan. and so it's not only argentine as problem, it's about, you know, the i m s. credibility and about the credibility of it's due diligence and how we decided to land. and of course, there's been a lot of criticism about political interest at the time. right. and i, so i think the i m s own criticism. all it self criticism has to do with that, right? recognizing that it also had a duty to make sure it was lending to a country that would be able to pay it back eventually. so in lysis or all that, what do you make of this current? re negotiate to deal with the i m f? is it going to be more palatable to argentinians? well, i mean, this is the problem, right? we don't really have the details quite yet. and what we have seen so far means that pain is on the way. the reality is that pain will be on the way for the argentine

economy regardless of what happens. an agreement with the i m f could be less painful than the alternative of having no agreement and going into a default in march, which is the alternative that argentina was looking at, right? because that would actually mean a currency crisis. you know, it would mean also higher inflation, which the countries already breaking, you know, records on. and it would also mean the economy would go back into a contraction, right? instead of growth. so the agreement with the i, m f is, is needed, right? and politically, in the country, it is very controversial. and so the pay the past will be painful. the question now is, what degree of pain will argentina have to undergo over the coming years? and is it able to cope with that pain, socially and politically? much at the country's debt burden is inherited from the previous government is argentina's problem political?

well, i think i can see the problem is structural right, because that, that is inherited from the previous government, which took out that to pay that inherited from the government for that. and we can make that change going back to the 19 seventy's when the last military dictatorship, right? so the main problem for the country is that it implements government policies and not state policies, right? and so structurally, when there's a change in government, there tends to be a sudden change in regulations, in rules and policies. and we don't see like we see in other countries in latin america, particularly you know, other emerging markets in america that have overcome that challenge over the past 2 decades. and have decided that certain economy principles are state policies and do not change overnight when there is an election. right. so i think argentine that now has yes, again, the challenge of overcoming the swings in policy that characterize the country. and

if it doesn't do it, then we will probably be talking again in about 2 or 3 years time about the time restructure with the m f and private bondholders. so fundamentally what you're saying is audit. tina is in a financial black hole and has been for a long time and it doesn't look like boring from the sample. if i put it in the terms of a family right, i can, tina spends more than it makes. right. and it does that every year. one of the 1st things that we'll need to do is actually start living to his needs, right. and to do that, cutting energy subsidies will be the top priority. because 90 percent of the countries fiscal deficits fence from the government's actually subsidizing energy. and this is, you know, it's quite interesting because i was in teenage sitting on one of the world's largest gas research. yet this year it's importing gas during the summer months. mind you were currently in the summer, in the southern hemisphere,

they're importing got to be able to generate energy for industry. so come winter and you have a larger deficit in gas that you're importing more and this is draining hard currency. these are the structural things that are going to resolve and we sold them for good, right? and this is not going to be easy, it's going to be painful and it's going to be a regulatory challenge that the administration will have to overcome during the current year. and do you think the current administration is up to it? well, i think the coalition has, you know, very, very difficult situation of the moment, right? there's infighting within the and so a president fernandez wants to deliver an agreement because the alternative is dire for his administration and his potential reelection bid. but his vice president, christina kitchener, leaves a fraction of the condition that is out of man's and to say publicly that this is of any deal with the i, m f is about deal. and that they're not willing to cut on energy subsidies at the

rate that the country needs and that they would like to be able to continue spending on social programs by expanding the monetary base. that's just simply not sustainable. so i expect that at some point this year, late just at the beginning of 2023, we will see a breakup of the current ruling coalition in argentina ahead of next year's general election. so what happens now to the current deal on the table with the m f, will it just go through as it is and, and does it matter that the i m f has thought to bad reputation with the people of argentina? well, i think there's 2 parts to that, right? first, that needs to go to congress and there it is likely to go through. but as i said, not without significant tensions within the ruling clinician and with the opposition saying that, you know, they're open to looking at the details of the agreement and supporting a sustainable agreement so long as it is supported by the entire ruling coalition.

and this is the key factor, because no matter what happens with this deal, this isn't a re payment plan that is going to be resolved in the next 2 years. so whoever is the next government, be it the current correlation or the opposition. they will need to be in agreement that they will maintain the terms of this agreement. the 2nd part is, you know, the, the, the country is already experiencing a slow down of the economy recovery argentina's economy is not going to recover to pre pandemic levels until the latter part of this decade. if it reaches pre pandemic levels, then the countries looking to last decade back to back at the moment. so for people, you know, the i m f agreement. it's more of a, of theoretical debate. it has to do a lot with purchasing power, how inflation is hitting them, and that will be the key challenge for the government. jimenez blanco, research direct and had if america's risk insights at various maple cross. thank

you so much for your time. thank you. ah, cole is still considered the worst alita of all fossil fuels, and getting rid of it is crucial to combat and global warming and climate change. but money speaks louder than words and a new study by $28.00 non governmental agencies found that major banks a pouring vast sums of money into the coal industry, is the 1st update since the cult $26.00 climate conference was held in glasgow last year. oh, golden reclaimed finance. alongside author and geo say financial institutions channelled walden, $1.00 trillion dollars to the coal industry between january of 2019 and of them. but of 2021. more than 80 percent of the funding came from 6 countries, only. they all, the us, china, japan, india, canada, and the united kingdom. barclays and city group are among the top 10 highest

lenders to over 1000 firms involved in the coal supply chain. bank of china, bank of america and japanese firms took all the top 3 spots. the india is also say only 12 banks accounted for almost half of the total, $363000000000.00 in loans to the coal industry in the same period. now 10 of the so called dessie doesn't lenders are members of the u. n's net 0 banking alliance. and industry lead initiative committed to aligning their portfolios with net 0 emissions by 2050. and the report says, underwriting now accounts for the biggest share of funding for coal clients. the purchase raises investment or capital companies by issuing bonds or shares on their behalf and selling them to investors. the engineers also blame investors for keeping fossil fuel projects afloat. they say at least $5000.00 companies own

combine holdings, earth, more than $1.00 trillion dollars in the coal industry campaign. a say the research should be considered a benchmark to assess the promises made at cop $26.00 made to coal dependent nations pledged at the un talks for the 1st time to phase down on coal fired power generations and inefficient subsidies for fossil fuels. the amendment of the pat terminology to face down rather than face out as race concerns. amongst campaigners it would create a loophole to delay climate action. but it's not just cold, we're saving lots of cash. europe's biggest banks of pumping money into new oil and gas production. despite those pledges to reduce emissions analysis by the campaign group share actions show. the $25.00 banks have provided more than $33000000000.00 in loans and all the financing to at least 50 companies. hsbc,

put almost $9000000000.00 into new oil and gas in 2021. while barclays put in at least 4 and a half $1000000000.00 deutsche bank loaned almost $6000000000.00. the fossil fuel johns receiving the funding included exxon mobil shall be pay and saudi romco. will the banks have insisted they all committed to working with their customers to achieve a transition towards low carbon economy? why all giant exxon mobil has said that the international energy agency and the u. n's inter governmental panel on climate change agree that significant investments in oil and gas is still needed for you to 2050, even in a net 0. scenario. net 0, of course, refers to stay in which the greenhouse gases going into the atmosphere are balanced by the removal out of the atmosphere. let's discuss this further with the market strategist and former economist at city. great. mark fulton, who's also the chair of the research council. it be carbon tracker and founding

partner of energy transition advises. he joins us from new south wales in australia . thank you for your time, sir. who are the biggest finance is when it comes to investment in coal and other carbon intensive fossil fuels. but essentially, i think if we take cole, i think it's important to step up a level and look at the countries involved. and it's a very good piece to work by the global energy monitor gem. the points out that really it's the chinese lead the financing world, followed by the u. s. in fact, is important source of financing, followed by japan, south korea, india, and indeed russia is on the list. i don't tell on bell loan, stay on the list. but essentially, those countries of the source countries, china being very critical to that. and i think again, if you look even higher up behind that, why is that? where is, where are the planned? coal fired stations still coming? so if we look at what's planned out there and pre constructions,

they call it was about $280.00 gigawatts of coal and still planned. and that's on a base of 2100. so it's 10 percent in existing culture that's, that's a lot. so this is, that is a to sorry to interrupt you, so this is cole plants waiting to be financed. does that mean an increase in funding? well, as i say, what it is is co plan side of the plan, pre permit to don't permit that cold. and eventually, some of those a way before fighting financing. a lot of them we'll get, we'll get canceled in on you because they just don't make sense. but some are thinking, financing a moment for sure, and the different stages of that buy thing again, within the financing, i mentioned those countries, it's important to realize that 70 percent financing comes from government based entities and state bank of very significant, particularly in asia, and particularly in china. so while it tried to concentrate on potentially funding

coming from the private sector and finance markets, you've got to remember a lot of this is coming from governments themselves and they are cross funding. now, very important announcement came from china the call, but they said they would get out of fun in coal stations outside of china. that is considered significant and could not 40 gigawatts of that 280 number. so we'll have to wait and see how it plays out. but that's a useful announcement. one of the arguments we often hear is that investment in fossil fuels is still needed on tail countries make that transition to something a bit healthier. is that true? well, i mean, i think it depends on your so called scenario, so i don't get too technical, but so we're talking now let's wide and beyond cold oil and gas as well. fossil fuels. and let's talk about the, the, the major sort of push in the world, which is to get to a 1.5,

a c outcome in by. and that means net 0 by 2050. that's the big focus and people want to get there in quite a hurry. so they want to look at these scenarios which essentially mean if you want to do that, no new coal prod, stations, a tool from today, finish. oh that 200 has to disappear and no in fact, no orland gas exploration, you need to sort of fraud a lot baccha media. now that is the $1.00. i worked with a group that is commissioned by the u. n. p r i. and we look at something called inevitable policy response, and we look at for costing what we think might happen as well as what would be required to get to $1.00. and we think we can for cost, say something like $1.00, which is what the cost might be, might be out to the might have been a weird full cost that before the comp. and in that, when it's a start throttling back on coal, certainly no new coal from 2025 onwards is very small window. and we would be say,

be very careful how much you do. and then on oil and gas, the final window here is the oil and gas oil demand takes, we think in the next 2 to 3 years. and following that is going to rapidly run off. so there's not a lot of room even on this or not on the so stringent $1.00 outcomes. even at $1.00, there's not much room for new investment in oil and gas. the saw i'm but not a lot. very interesting to get your thoughts. mark fulton chaff, the research council, the carbon tracker and founding partner energy transition advisors. thank you for your time. thank you. water gas. the in the paul is just one example of how the climate crisis could pose an existential threat. the south asian nation has one of the heaviest rainfall in the world along the dry spells the, causing a serious drinking water shortage. well, now farm is coming up with simple bob,

effective ways to harvest the rain during monsoon season. zane bus are all, he has more from central nepal. nepal is always been one of the rainiest countries in the world, giving it lush, green, rolling foothills. the hallmark of the himalayas, it's certainly not the kind of place you might think is suffering a water security crisis. did he used to be low intensity, long do this and then for now what is happening high into if you didn't do this and that will not go inside the brown. that is go full is a, i don't know that if you have less the storage ground water, it only rains for part of the year and the pulse terrain can turn baron quickly. but just outside cut monday. routinely ranked is one of the most polluted cities in the world, is a regeneration success story. this thriving forest wasn't here 2 decades ago. now, scientists use it to study how best to collect and keep the most basic element with

ring collection systems like this one tank can hold enough water for a family of 5 for up to a month. and pawns, cut into the sides of steep hills, have the power to bring dry wells back to life. in rural villages, applying these designs is saving farms and lives. at 1st glance, it looks like any other hillside in this part of nepal. but what's happening here is local farming communities using simple methods to solve a complex environmental problem. earthquakes and manmade roads change the way rein moves downhill at the mouth of this underground. well, putting them on la. my explains how changes to terrain stop the flow of groundwater and left this life, giving natural spring totally dry in rural nepal. wells like this are the primary source of water for drinking and domestic use up building terrace ponds to collect and carefully pipe the water to both crops and holmes has saved villagers from

uprooting their entire lives. yeah, for any mag will way. i'm like, there was no walter here to be shipped to go very far. a look for other water source is much for the of a run, but we are happy devoted started to come here again. the water is collecting slowly and gradually reviving kill, and i live in scientists and farmers in the policy. the world around them is changing faster than it has to, but roads can't be on built and there is no taking back the weather, altering greenhouse gases in the air. so all they can do now is their best to adapt to their altered ecosystem. in basra, v o 0, but couldn't the bessie nipple. and that is our site for this week. but i want to know what you think and what you want to see on the so tweet all dia, me money, and sign on. if you're tweeting them, please use the hash tag a j c. c c, or if the emails. maria, thank counting. the cost out is era dot net is our address. unless not small for

you online al jazeera dot com slash seton c. that will take you straight to our page, which has individual reports linked an entire episode speaking to catch up on that is that for the sedition off counting the cost? i money site from the whole team. thanks for joining us. and he's on out to sarah is ah, for the latest news as it breaks, authorities tell us that brutal violets like this one in b honduran capital are just the tip of the iceberg in a far more complex security situation. we detailed coverage, this postal vintage in why is one of the worth his areas here in the province of ball from around the world, things seem very normal in the city. people are still going to work whole to school, the restaurant i'll be ah,

al jazeera i with to. ready ah roches accused of using controversial cluster bombs to pound ukraine 2nd city as its forces edge closer to the capitol. ah, i'm darn jordan. this is out as they are alive and also coming up reinforcing bad defences. we need volunteers working alongside soldiers to fight back from craig. we have been in jack country, we have been law falling, jack on.