rewrite the security architecture issue, person united states you serious to go to walk and chew gum at the same time, your weekly pay on us politics and society. that's the bottom line. with both of them, told stories from asia and the pacific on al jazeera ah 5 breaks out a europe's largest nuclear power plants, cranes, foreign minister says if it blows off, it could be 10 times bigger than chenango. ah, i money and fight this valves, their ally from di hall also coming up inviting russian forces continue to surround major cities as the war and has a 2nd week. russia and ukraine reach an understanding on evacuating civilians

through humanitarian corridors. wisconsin basle we hear from civilians caught in heavy shall shelling of homes around the eastern city of kalki. we are continuing courage of the russian ukraine war where fighting has made dangerously close now to europe's largest nuclear power plants. take a look at these pictures that were taken just a short while ago from the zap harry, as does your facility, they show smoke coming out of one of the buildings that the local maya says a part of the facility co fire off to shelling by russian forces ukraine's foreign minister has also said that russian forces a firing on the plant from all sides. we know that russian forces have been

battling for control off this city, the air, which is a crucial energy producing city in the south of ukraine. and we heard reports earlier today that they were closing in on the nuclear plant. this is the country's largest nuclear plant. the city is cold and the holder. it sir, near the denise river accounts for about one quarter if you cranes power generation . so as i was saying earlier, we heard from the mayor of the city, he said a big russian convoy had been approaching the city and he edge residence not to leave their homes. now we also had a warning from the international atomic energy agency earlier today who said in a statement that russian infantry troops were moving closer to woods this nuclear power plant. the zappa receive power plant, few kilometers from the town of anna huda. well the plant, as i was saying,

europe's largest is in the town of and a gota which you can see now on the map. the area shaded red nearby are controlled now by russia on its separatist allies. ukrainian government says firefighters have been unable to extinguish the blaze because they are currently being shot at by russian soldiers. we are trying to find out more about the situation there. and as soon as we are able to speak to a report on the ground, we will bring them to you early a russian ukraine made the fuss hints of progress and talks agreeing on the need for humanitarian car doors. but there's no indication of when they will be established to help civilians escape the war. and even as the negotiate is met, russian forces continued to surround amble, bald cities and towns just like this one. outside the capt. o'keefe, thousands of thought to been killed or wounded. since russia invaded just over

a week ago. more than a 1000000 people have to come refugees from live in western ukraine. jan holl takes us through the rest of the days. top developments, major ukrainian cities are surrounded and under constant attack. this is sharon eve, a city of textile factories, churches and monasteries. its greatest misfortune to lie on the root of rushes advance from the north. in eastern city of hunt, keith, to people wake daily to scenes of terrible destruction and a fast rising civilian death toll and look what put in is doing this is a war crime committed against the civilian. again, the 3 there. oh, clarity of this city of one and a half 1000000 people, most ethnic russians is being torn apart by russian forces for no reason. other

than that it exists just across the border from russia in ukraine was a kid i saw here. and in the far south ukraine's biggest port, odessa, he's under threat to hear frantic efforts have been underway for days to build defenses against a possible beach landing multiple vessels belonging to russia's black sea fleet. hover on the horizon, including lending ships and support craft. ukraine's military is very much still in this fight, reinforced by supplies of weapons from abroad. they've been able to apply real pressure to the russian advance, slowing the progress of a vast column of armor, artillery and soldiers heading for the capital cave. along its route, once sleepy commuter towns lie in ruins, a foretaste of what may be in store for keep the apparent aim to encircle the city

and besiege it. from his bunker under heavy guard president followed him at zelinski wages, a relentless communications campaign, rallying resistance, and calling in foreign support. yet for his protests never use for we have been seen this for a long time that ukraine is seeking for protections for our home soil and our own people. best protections have not been provided. european countries assist us with the wage of migration. however, we should discuss the guarantees that are required to protect our country, our home soil, and our people. a 2nd round of talks on thursday between russia and ukraine at a location on the border with belarus, came with low expectations of a breakthrough, but a slim glimmer of hope that they're taking place at all. the

ukranian government, meanwhile, has called for humanitarian corridors to be set up. and here in the western city of the leave, volunteers are hard at work processing a donations medicines, clothes, food, and other essentials for distribution across the country. there is a humanitarian crisis erupting on multiple fronts, not just the internally displaced, who've left everything behind in a scramble for safety across the country's borders as more than a 1000000 have done since the invasion began, but also huge populations in urban centers trap. terrified and desperate for health . civilian morale will vary now in a population increasingly terrorized. there'll be desperation in some places, determination, in others, o, a spontaneous rendition of the national anthem at that age station in vive. it is

becoming ever clearer that the struggle is not just for personal survival, but for the survival of the nation as a whole. joe, the whole al jazeera movies. let's take a look at these live pictures. these are pictures of europe's largest nuclear power plant in ukraine. the cranes foreign minister has warned in the last hour so that if it blows up, it could be 10 times bigger than to know bill. it's in the town of zachary, this year at the facility. the facility apologies is known as that part of this year. and it's in the town of and a go to a and it appears to show it's it's difficult to tell from these pictures, but we've had the may of the town tweeting about this or that smoke is now coming out of one of the buildings that the local mayor says, part of the facility has caught fire off the shelling by russian forces. let's see

if we can get more on the significance of this. we can speak to henry sykowski, executive director of the non proliferation education center joins is live via zoom from salt lake city, utah. many thanks for joining us. so last minute. what move fast, can you tell us about this at this facility, which is apparently europe's largest nuclear power plant? i think you said it all. other 6 light water reactors, quite large. and if you have a release of radiation, either from the reactor core or from the spent fuel, once it gets serious, we do not know what's in here. it does not clear from what i've seen. that is what's been here either suspension or the main building containing the reactor itself. however,

this certainly is got everyone ringing their hands because anything can happen and data, especially if this is an ongoing military operation, you say from what you've seen doesn't look like that. the reactors have been hits it. how can you tell? how can you tell if something serious has happened? well, the buildings that i saw it did not appear to be the main containment buildings for the spent fuel pump um building so. but that's all i've seen. i am not on station, but clearly, you know, this suggest any enthusiasm for thinking that the nuclear power plants are going to be safe. military see, we're, we're, we're a new, a new game now. absolutely. and we have to be concerned that, as you say,

if they do other military operations, there are other reactors, something relating to the main power core or the spent fuel bond would release an enormous amount of radio activity on par and conceivably with something worse than channel so, you know, i don't think we're there yet, but nobody should be reaching into their pockets and thinking, oh let's, let's build and buy more. for the moment. we've got a problem in ukraine, and i think anyone now has to look at these power plants differently. if they think they're going to be in a war. so, and we actually heard from the international atomic energy agency earlier today. this is when the, the troops actually approaching the power plants. earlier in the day, the director general of the i a saying the situation was critical. he actually

called on the military forces on the ground to refrain from violence near the site . i mean, how, how worrying is it that, that, that we've heard from them intervening in this way? well, he is telling you the obvious, these plans were never designed to be in a worse cell. and they are not capable of dealing with the vulnerabilities that are inherent with being in a fire zone where you know, why, you know, shells and missiles can shatter the concrete protection of the buildings. i mention the main containment building and the, the, the spent fuel ponds. you have, you have to keep all of those items cool. and therefore all power equipment moves the pumps and moves water. if you have those, you have a problem and even though the electricity goes in, these plants has to be constant. cut that electricity off, you have problems. and so these plants are not ever designed to be on the front of

military action. and now they are, and you know, this is food for thought for putting reactors anywhere where you think there's going to be a warrant teacher. this is a way of call. i think it's worth a pointing out to our viewers or the pictures that we're looking at. are there not live pictures? and we're not sure yet of the extent of any of the damage to the zappa raises your facility in the town of and the go to we are hearing from the local may of the town who a has set in a variety of tweets that sir part of the facility is caught fire of to shelling by russian forces. he warned earlier that troops, russian troops had been approaching the city and he'd warn residence in irv in the city to stay in doors. so we are speaking to henry, the coal skis,

executive director of the non proliferation education center. henry, give us, i mean, like you say, we don't yet know how bad the situation is. we don't, you yourself don't think at least it doesn't appear to look like the main react as have been hit, at least from the pictures that we can see. what is the worst case scenario here? if it were to happen, the very worst is the fuel in the reactor after it's been used. if you will, or spence, i mean after you you, you, it's highly radioactive and it's stored in a spent fuel storage pond. if that building with the spent fuel is hit in a way that eliminates the water that's cooling it, you get a spent fuel fire. and that if the building is broken open can spew out

radioactivity with patterns, easily competing with the chernobyl. an example easily multiple actually, and that is the top in worry. the next worry is if there's a loss of coolant accident that results in the reactor melting down and reaching various containments concrete metal such that releases radio activity into the atmosphere that is a lesser problem. but it's very serious. and then there's everything beneath that which frankly pales and to insignificance as compared to those 2 sites. but there are a number of ways in which loss of coolant accident can be induced with explosives laid down on certain parts of the reactor. and you know, as soon as you've got people shooting around a reactor with missiles and things,

it's not good. and given that we did have to know though, not so long ago, how are these react to set up in any way? are they protected in any way to prevent me from having been sold? we have been sold. the idea that we don't have to worry about this, then we'll go, we'll never be in a war zone. there never will be a problem that you would test their vulnerability to military sparks. well, folks that, that the dream is over. now we have to worry about it and you know, they're building these things, not just in ukraine, you know, where they operate their building in the middle east. they're building around ukraine. ok, now i think we're going to have to take a look at making sure that these things are reasonably safe against military attacks. serious once they were not designed for that for any of us who might

just be joining the program. and can you remind us a bit more about this particular reactive? it's called a zappa raises. yeah. reactor, it's in the town of and a go to and it's, it's in, it's in a crucial energy producing city in the south of ukraine. and it's one of the largest nuclear power plants in europe. tell us a bit more detail about this particular power plant. well, it consists of russian light water reactors, which are very similar to the time that we have here in the united states and most of western europe and japan. are these reactors, there are 6 of them that constitute 6 out of 15 of the all reactors that are in ukraine and, and 6 reactors, you know, is a sizable plant. i mean most plants consist of one or 2, not 6. so this is

a very large and i mean, you say some of the parts of russian, presumably the russians know exactly what they're doing here and the dangers involved. why would they continue this operation? well, 1st of all, this is a war and when you say people know exactly what they're doing or bridging. so i mean, you know, what's going on there. i don't know that the russians are in total control of what they're doing. but here's the thing. i think i'm inclined to think you're right. we don't know that the russians would not try to set off the spent fuel pond or have a loss to an action course, but you're shooting things around it. you. the idea that wars are controlled, events is really a rather fantastic idea. this is not good. let's just put it that

the plant was not designed to survive military or soul. it was not designed to be resilient that has home abilities exploited and you go to the russians, you know, have the good sense not to, to set this off, but i think this is a watershed moment. no pun intended, for nuclear energy. i mean, we have been, i, my, my research operation has been talking about this possibility the least far is, sadly, i didn't do an analysis of ukraine, but they are similar. and in terms of why this plans, in particular would be, it would be a target for the russian forces. we know the russian forces have also taken over to know though in recent days, why would it be important for them to take control of this particular plant? well, 1st it's the largest one in ukraine. that means that electricity is now being held

hostage to whether or not this plant can continue to operate by us would be, is that the ukrainians are probably shutting down these reactors to, to put them in the safe mode is they can be if they get attack that's a big blow to people who need electricity in the cities. they want to moralize, they want to frighten, they want to tear us. well, they've got a pretty good target, and they've got it. what about the people living in the area around this town? i mean, how, how worried should they be? is there anything that they can do to prepare for something to stay inside, i guess is the best i can come up with. i mean, you know, with any like what you're seeing are fires in excel or rebuilding the buildings that are not going to affect the spent fuel pond or the central islands cooling.

which case there may not be an issue at all. but you know, if they're firing missiles and things and you know, this is not good, this is not good if you know that something can go wrong in war. and i, as i say, i think anyone trying to gloss over the, the emergency character, what's going on is a fool. even if we get by this one time we, it should change the way we think about these machines wherever they are, to be more attentive to the possibility that this could happen again. they would be in a war zone just operating free of any military threat. sumption the behind all this has been that we can build these machines and they will never be in a war. so i think that that is no longer going to be what people said. okay,

thank you for your time and your analysis. henry mccallski, executive director of the non proliferation education center, speaking to a staff from utah. and just to remind if you are joining us, we've been taking a look at these live pictures of the zap her is ear. this year. facility in ukraine is earlier pictures in the town of and a gota. they appear to show smoke coming out of one of the building sites or the mayor of the city. or we've had a number of tweets coming from the mayor and saying that at the the facility has been shot at by russian forces. meanwhile, the eastern ukrainian city of col, cave was one of russia's fuss targets. but despite heavy shelling on its proximity to the washing border, it still remains on the ukrainian control. many of the cities. 1.5000000 people have fled. charles traffic is in the village of jak of liftgate. not too far from

ca, gave a warning. his report contains graphic images. maxime was at home with his girlfriend when the shows started crushing into his village, shrapnel ripped through his arm, face moving yoke to happen so quickly the explosions, i heard something flying over us. i was covered up to my waist and rubber and something started burning. i tried to free myself and i tried to get my girlfriend . i was so weak. i couldn't pull her out. emergency services rescued. maxine girlfriend, she's suffering heavy concussion and is too weak to talk. the bodies of 3 civilians lie in the morgue. a woman died in the operating theatre as doctors tried to save her life. this woman who was afraid to talk on camera, says russian soldiers let her family escape. but as they drove away a bullet ripped through her husband's hand. oh, why did they tell us everything would be okay. why wasn't there an evacuation?

she says we drive to the village was the sound of shelling and machine gun fire in the distance. the shells had slammed into houses on the side of this hill. piles of rubble lined the street. at least 30 homes were destroyed. heavy russian shelling of this village last night at least 3 people were killed. a number of others injured. we understand that there are people still in the village. or we've just heard shelling in the distance and machine gun far in the forest on the way. thousands of cars, many of them filled with terrified families, fleece south from clark, if many of the cars have assign reading children on the windscreen, desperate attempt to protect those inside or with we are leaving everything behind us. we have been trying for 5 days to get out met. couldn't because of the shell him is when it simply hell we are going to new pro. and after that we don't know.

lexi shows us his car that was damaged when a russian rocket landing close to his home. michael had just spoken to friends in khaki. if they tell me it's worse than yesterday, they are shelling civilian areas. so many buildings are on fire for the for people who painted over road signs with angry insults directed towards russian president vladimir putin in expectation of a russian army advance. this one reads, welcome to hell cha, strap an al jazeera yackel live co ukraine. more now on the crane, russia talks which edge the 2 sides close to establishing safe corridor woods for civilians to escape. he's what negotiators said when you go you to get to the top of the road to shoot. unfortunately, we haven't reached the results we had expected. the only thing i can say is we have thoroughly discussed humanitarian aspects because many cities now encircled the

situation with food medicine and with the possibility for evacuation. we have also a great to continue talks in a 3rd round at the earliest possible time. i get quite jessie's new with listening to him. and the main issue we have a dresser is saving people, civilians who have been in the zone of military clashes. therefore, the parties and representatives of the ministry of defense of the russian federation and the ministry of defense of ukraine agreed on the format of the regime for maintaining humanitarian corridors for the advent of the civilian population. a possible temporary cessation of hostilities in the sector of the humanitarian corridor for the period of the rich of the civilian population. i think the significance of progress in moscow president vladimir putin hailed russian soldiers as heroes. in a televised address, he will say move to dismiss some western military assessments. a part of the offensive had slowed or stalled was. she said she was still good. dear comrade, i want to say that the special military operation is proceeding strictly in line

with the time table according to plan. he all the tasks that have been said or been successfully resolved, done yet because we will, i will never give up my conviction that russians and ukrainians are one people. even though some people in ukraine have been intimidated for many have been duped by nazi and not from the gander. some have deliberately gone the way of the nationalist and other natural engine from moscow dosage of ari tells us what else pete, and announced today. this was another emergency session with a his security council which is made up of a high levels of ministers and officials that he trusts. and he said that basically that the military operation in ukraine was going according to plan and that so they were achieving alter objectives at. he also announced for the 1st time that there would be financial compensation to the families of the soldiers that have died in the line of duty and also those that have been injured. we understand that that's

the, from the defense ministry for the 1st sunday, announce some numbers about the number of fatalities and a injured of russian troops in ukraine. according to the russian defense mystery, about 500 soldiers have died and about 1600 are injured. those are their numbers, of course, the ukrainian officials have very different figures is saying that a nearly 5000 a russian soldiers have been killed. the president said that he was really grateful for the service of the military personnel and they were fighting for a cause. and 2 to protect their country. now he also spoke with the french president, among whom across just a short while ago, the call was apparently at the request of the russian president. and it last said 90 minutes during which the 2 men discussed the ongoing situation in ukraine and the alleys. a palace released the statement saying that the french president was very concerned and he believed that things are going to get much worse. more names

have been added to the u. s. sanctions lists that may leave from vladimir patients in a cycle and wealthy allies. paypal you as president joe biden, referred to as his cronies and official reports from washington dc. a severe economic sanctions. it's another ton of this, grew from the american site, again targeting vladimir putin and those closest to him. goal was to maximize the impact on prudent and russia, and minimize the harm on us and our allies, friends around the world. are interested in maintaining the strongest unified economic impact campaign on food and all history. and i think we're wrong. we're doing that. among those on the list, alisha is one of one of russia's richest men and dmitri passcode the kremlin spokesman, and would have put ins, closest advisers, 19 oligarchs, in total sanctioned $47.00 of their family members, all will be cut out of the u. s. financial system that assets here, frozen and property blocked from use, the also fees a travel,

but joe biden hope's putting the squeeze on the kremlin will make it harder to wage war. but he's aware the conflict is already driving up prices in the us. for the moment, there are no plans to put sanctions on russian oil imports, but the leader of the democrats in the house of representatives says that could change and offer that ban fan the oil band will come from rush. you know, joe biden used the state of the union to announce the new task force to target russian oligarchs in the us. he's asked congress for $59000000.00 to fund it, and appointed a top new york prosecutor to head it. it indicates this could be a long campaign, both militarily and financially. alan fisher, i'll do it up at the white house. ah, this is al jazeera, these top stories fighting in ukraine has moved dangerously close to europe's

largest nuclear power plant. these pictures from these operations is your facility in the town of and a go to show smoke coming out of one of the buildings that the local mass as part of the facility caught fire off the shelling by russian forces. equations. foreign minister says the russians are firing on the plant from, we'll find earlier russia and ukraine made their fans 1st, hence the progress and talks agreeing on the need for humanitarian car doors. but there's no indication of when they will be established. russian bombardment of ukrainian cities continued on the talks went on. when you go you to your issue, unfortunately, we haven't reached the results we had expected. the only thing i can say is we have thoroughly discussed humanitarian aspects because many cities now encircled the situation with food medicine and with the possibility for evacuation. we have also a great to continue talks in the 3rd round at the earliest possible time. the russian president has brushed aside report,

the parts of the military campaign have stalled. he says everything is going to plan despite russian military losses was just because it's your comrade. i want to say that the national military operation is proceeding strictly in line with a time table according to plan. all the tasks that have been that are being successfully resolved, done yet because we had way all these, you know, i will never give up. my conviction that russians and ukrainians are one people. even though some people in ukraine have been intimidated for many have been duped by the nationalist from the canada. some have deliberately gone the way of the nationalist and other nasty hands. us president joe biden has increased sanctions against russia. they include restrictions on a group of rushes, wealthiest people, which will prevent the oligarchy from transferring the assets to family members. as headlines counting the cost with me coming up. ah

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[000:00:00;00] ah, ah hello, i'm money inside. this is counting the costs on al jazeera, your weekly look at the wells of business and economics this week, limping from one debt crisis to another argentina town. so the international monetary funk to restructure osi $4000000000.00 bailouts. bots, r i m f, loans, a financial rescue, or do they have nations in desperate need? also, this week the financial institutions accused of stealing the climate crisis. and the reports as banks have channeled $1.00 trillion dollars to coal alone since 2019 . so will 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 of farmers 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 aimed to revamp a $57000000000.00 loan deal, agreed back in 2018, which argentina cannot repay. 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 beat 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 that is here. lydia eliana says she has to make

a next re for each month to keep the business going out of container a sequel margin. tina is a disorganized country, but we learn to serve the situation. it's a constant challenge, the learning experience. our products are very good quality, i don't want to reduce our 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 has been a problem for argentines, for decades, 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 month the price of fif went up around 70 percent. so now they have to change this cardboard once again, jose luis hello, now owns able to shop. since the pandemic beef consumption has dropped significantly,

and he still trying to recover from the economic impact. oh is the beef culture in argentina is huge with barbecues, every weekend, what we see is people not eating as much be flagged before, and they are eating pork and she can instinct ah, 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 are in financial talks to negotiate more than 40000000000 in debt to target inflation. but economy say the fight to control rising price is won't be seen, or bike or argentina. there are several factors that have an impact on inflation. that's why it's so difficult to talk to little on as there is an integral plan that attacks all those causes of inflation. it's 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, i'll defeated one of heidi's 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 is 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 concern, 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 suggest 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. busy are a bit more concerned. okay, we'll talk about the diesel in, in a sec. but what's interesting is the, i'm f itself has criticize the deal and made with argentina back in 2018 when christine, the god was the head of that body. 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 argentina's problem, it's about, you know, the ins, 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 so i think the i m s own criticism. all it's itself, 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 country is 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. the for that and we can make that chain going back to the 19 seventies and 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, in policies. and we don't see like we see in other countries in latin america, particularly you know,

other emerging markets and america that have overcome that challenge over the past 2 decades. and have decided that certain economic principles are state policies and do not change overnight when there is an election. right. so i think argentina now has yet 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 argent time restructure with the i m f and private bondholders. so fundamentally what you're saying is argentina is in a financial black hole and has been for a long time and it doesn't look like boring from the i mass is helping solve it's problems long term. so what is the real fix? well, the real fix would be, for example, if, if i put it in the terms of a family right, argentina 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 its means, right? and to do that, cutting energy subsidies will be the top priority. because 90 percent of the countries fiscal deficit stems from the government actually subsidizing energy. and this is, you know, it's quite interesting because argentina sitting on one of the world's largest gas reserves, yet this year it's important gas during the summer months. mind you were currently in the summer in the southern hemisphere, their inputs in gas to be able to generate energy for industry. so come winter and you have a larger deficit in gas that you're importing. more in, this is draining hard currency. these are the structural things that aren't intended to resolve and result 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 that coalition has a very, a very difficult situation at the moment, right? there's infighting within the collision. so a president fernandez wants to deliver an agreement because the alternative is dire for his administration and his potential reelection bed. but his vice president, christina kitchener, leads a faction 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 to you 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'd expect that at some point this year, latest of the meaning of 2023. we will see a breakup of the current rolling 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 doesn't matter that the i math has such a 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, i'm with the opposition saying that, you know, they're open to look into 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 is an 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 economic recovery. argentina's economy is not going to recovered to prevent that make levels until the latter part of this decade. if it reaches pre pandemic levels, then the countries looking at 2 last decades back to back at the moment. so for people, you know, the i m f agreement. it's more of a 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 head of america's risk insights at various maple cross. thank you so much for your time. thank you. ah, coal is still considered the worst alita of all fossil fuels and getting rid of it is crucial to combating 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

cold $26.00 climate conference was held in glasgow last year. oh give alden, reclaim finance, alongside author and geo say financial institutions channelled walden, $1.00 trillion dollars to the coal industry. between january of 2019 and november 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 to say there were such should be considered a benchmark to assess the promises made at cop $26.00 major 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 has raised concerns amongst campaigners it would create a loophole to delay climate action. but it's not just cold receiving 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 groups 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 exile mobiles, 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. while all john's exxon mobil has said that

the international energy agency and the u ends into 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 state in which the greenhouse gases go into the atmosphere a balanced by the removal out of the atmosphere. let's discuss this further with the market strategist and former economist, a city great mark fulton, who's also the chair of the research council, the carbon tracker and founding partners, energy transition, advises. he joined us from new south wales in australia. thank you for your time, sir. who all the biggest finance is when it comes to investment in coal and all the carbon intensive fossil fuels. but essentially, i think if we take coal, i think it's important to step up a level and look at the countries involved. and it's a very good piece of work. the global energy monitor, jen,

the points out the really, it's the chinese lead the financing world, followed by the us in fact, important source of financing, followed by japan, south korea, india, and indeed russia is on the list. i don't tell them they'll lead, 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? co fire stations still coming. so if we look at what's planned out there and pre construction, and they call it, there's about $280.00 gigawatts of coal. still planned. and that's on the base of 2100. so it's 10 percent existing colfey, that's exit law. so this is way too far to interrupt. you said this is cole plants waiting to be financed? does that mean an increase in funds? right? well, as i say, what it is is co plan side. the plan preferred to don't permits the cold. and

essentially some of those a way before fighting financing. a lot of them will get, we'll get cancelled in on you because they just don't make sense. but some are thinking, financing at the 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 banks are very significant, particularly in asia and particularly in china. so while it's right 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 the very important announcement came from china. the call where they said they would get out of funds and 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 fod 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 throttle that back immediately. 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 didn't eligible 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 from the been weird, full cost that is for the car. and in that we need to 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, there's a final window here as oil and gas, oil demand peaks, 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 that much room for new investment in oil and gas. the saw i'm but not

a lot. very interesting to get your thoughts mark at the fulton chair of the research council of the carbon tracker and founding partner energy transition advisors. thank you for your time. thank you. a water scare? see in the pal 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 causing a serious drinking water shortage. well now farmers are coming up with simple but effective ways to harvest the rain during monsoon season. zane basra, the has more from central nipple. 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. our little her there used to be low intensity, long duties, and then from now what is abilene high into?

she didn't fall in sanderson that will never go inside of it on. that is girl who is a, i don't know that this year list the stories of groundwater. it only rains for part of the year and opposed to rain can turn baron quickly. but just outside come onto 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 changed the way rein moves downhill at the mouth of this underground, well, putting them on, lama 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. building terrorist ponds to collect and carefully pipe the water to both crops and holmes has saved villagers from uprooting their entire lives. yeah, finding that go away unless there was no water here. we have to go very far. look for other voltage source is much of a but we can't be devoted started to come here. again, the voltage is collecting slowly and gradually revising and editing 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. jane bas ravi ultra 0 bucklin 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 sweet old dia, me money inside. and if you're tweeting them, please use the hash tag a j, c. c. or if emails, maria, thank counting the cost al jazeera dot net east address on this, not small for you online al jazeera dot com slash ctc. 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'm money inside the whole team. thanks for joining us, denise on al jazeera is ah,

ah, knowledge is here. with me. oh, i if i out europe's largest nuclear power jobs off the invading russian forces, all accused of attacking the facility in ukraine. as to jim t 4 a. m. and keep on molly inside watching out as there is coverage of the russia ukraine war in the past hour. so there's been a fire at ukraine of via nuclear,