that the families are going through the edison to the highest and decades because of excessive rainfall. the amount of waste dot and shelves also had residential areas on tuesday, causing fires set a school and several other buildings. russia says the ukrainian marine brigade has surrendered in mary upon it claims more than a 1000 of them laid down their arms in the city, which has been surrounded by russian troops for nearly 7 weeks. ukraine says it has no information about it. the number of people confirmed dead in south africa's floods has jumped significantly to at least 253. and it could get worse as more rain hits, the coastal province of quasi lunar town. israeli forces have shot and kill the palestinian man during grades and the occupied west bank. the 34 year old was hit in the chest and the city of nablus is ready. operations have gone on for days and at least 6 cities and villages. the army says it is conducting county to his railways. as the headlines one use here on al jazeera right after inside story

season of i ah, the anti government protests culminating in coals for president. go to buy a roger box up to resign. we'll bring in our guests in a moment, but 1st, michelle fernandez reports from taking a look here. another full shop where people are trying to buy some treat for the new year. but i remind that down here of what the situation is, a generator just to keep things running for the power of because many, many people are suffering with paul caught just one of the issues. that's the reality of the economic crisis. the truck is going through and we're just hearing from the government that they have decided in the interim to stop debt repayment are too late in the coming. they've been asking for it for months and months,

and the government insisted that it was in control. but now deciding to put a halt in the interim and can centrally restructure debt. then what i found, i do go that route with the guy. now everything has gone up in price. i came to buy close by. they are so expensive that the question is, is it enough for months and months, economist, opposition politicians have been asking the government to put a hold on its debt repayment to negotiate a sort of a plan default. and meanwhile, to save the precious foreign currency, which is also depleted and that's what's led to all one of these shortages fuel cooking, gas, food items medicine. and that is what a has been the rallying cry to the government. so what does it mean 1st, for lanka to default on its external debt, what happens when a board fails to pay an international loan at the time? it's due, sher lancaster, usable foreign currency reserves have plunged below

a $1000000000.00, setting its ability to repay loans. defaults can lead to lower credit scores, reducing the chances of attaining credit in the future and higher interest rates on existing as well as new loans. ah, so discuss this. let's bring in our gas. joining us from colombo, johan perrera, who's the executive director of the national peace council of to lanka in jobs not long ago mar, who's a political economist and senior lecturer at the university of jobs. not insure lank as well. i'm joining us from melbourne is a man to pereira, a researcher at the school of education and the arts at sea through university australia. welcome to you all. thanks for joining us on inside story. i have on over to you 1st. so now the through lincoln has announced it is in fact, defaulting on its foreign debts. and does this stop the downward spiral? yeah, it's to be seen how markets are going to this. this is our president that she has

never faltered on us. this might stop aspire, well, your difficulties to gaining international markets with my financial transactions bills. and the question is also why they had to come about at this point. the government has time for the last to try to show up as far as the search back last year because it's highest or bill $21000000000.00. so rather than saving some of that foreign rooms or foreign exchange towards the situation like this, we continue to spend the other question that you guys are going when i met next. why did we have just a heads up when i'm asked?

does that reduce the bargaining power that she got the house and the condition averages from the i'm sure, a lot of questions and a lot of about the same process as well as what we pre cation that are going to be right. the claim that we have a launch but is unable to reach an agreement. what would be the consequences for the people right? brain's left, come all important points are all important points. in fact, this part of our discussion, let me just bring in colombo for the time being and john pereira. so if this i m f program actually goes ahead, it would be through like a 17 financial rescue package from the global lender. and as i got from jackson, i was saying it does, comes with strings and conditions attached. i will. why is this, i am a flown going to work when the country has already had 16 in the past, in your opinion? it a significance of this, this all it is that she long cause currency also has been said to the

following has fallen by like close on 100 percent in the last 2 months. and we are also going to countries of foreign country and such as india or bangladesh. china asking for loans for to just title the next month. so in a sense that the government taking this action of tried to preserve whatever the foreign exchange it has by not paying the debt is, is to the people, if it will be something that baby. well come because they do want the petro the d. so that i q, q is lines of stretching for a kilometer more every day. people stay over night in these guests that these guests that station waiting to fill out where he goes that tractors, that combine harvester because they can't even do their farming properly. so for

people, the, that the importance is that the government should have money to import, the essential that no med just didn't know in the, in the hospital the government has denied it, but the doctor says that that isn't medicine in the, in the hospitals. so yes, so what's the difference? so, so what you're saying is this is a good move on behalf of the government to show the people that they're actually doing something. i mean, it's a double edged sword, but up to now the government does not doing anything. now, at least they have taken some decisive step. they appointed a new central bank governor. the person goes saying that, don't worry, we will somehow get the money to repay. i did manage within the country. now we have got a new person who has also increase the interest rates vary considerably, because that's the way to i think there's still some confidence in people to, to actually save the money. they have been printing money or printing enormous

amounts of rupees. these last few months, and that also has contributed to the downward spiral in a contest, a very bad economy management. now we have this decision, ok. and so i mean, ok, let me bring in a month from melbourne. i mean, what do you think about the i m f loan? if it goes ahead, is this going to be good enough for the people i'm on time? because as, as we've been hearing, i mean the i m f loans come with painful policies. the people have already been feeling a lot of pain on the streets. we've seen the process taking place. so how will sir lincoln's be reacting to this news? do you think? well, i think housey lincoln's react to this news will depend on the very fact whether the laws on these negotiations are going to be felt on the ground. because what we're seeing is something that is really unprecedented. della power cuts down

a few shortages. now, our gas shortage is their last filing a price hike. so all these things i have come together and they are felt by every citizen. so whether this is going these law to just are going to be reversed in any way. if the bonds are going to become shorter, if the gas lines are going to be shorter, if people can find fuel without staying in line for half a day or even more, i think that's what's going to change the moon on the ground. because these projects that we are see they have come about because people everyone in real life, when there is a 30 now, right. and then you can, though it's, it's going to depend on whether all this negotiations, all these loans are going to be in the capital markets and all that stuff is

extremely high. so that's the question design agreement that process already. i want you just this issue without restricting impulse because our foreign exchange is limited. if you look at the measures that are jacob already, which i'm the last one that came out on march, you're already brought to the exchange rate. what that the decisions born by the working capital. now as a way to restructuring the default. that was just at the mercy of the iron range. well, the 1st thing, the gun down to all archives. so gross. so need be talking about price. but as i mentioned last year, we have to come out with all kinds of lunches. i need to have our own. not only are all columbus and these are just that are come action against such

quality engine, our country destruction of services. but that i'd like to please my worry didn't just gain on the tell to take basic steps and there were warning signs . is that something that you agree with? if i'd like to add to further points to what i said. and the 1st is that, as i said, we were living beyond down means, you know, before we had a war in our country for 3 decades. and a lot of my visa, like i maybe we didn't develop as fast as other countries did. but we also are living standards did not drop the rules and how did the right, because we don't, we took these lawyers 1st from institutional lenders, then from the private sector commission lenders and we live beyond that means that's one thing that we need to keep in mind, the 2nd thing is that the people are really, i mean they're really,

but they are focusing on is what the roger boxes have done. there is a be funded the right department, but the entire political system got extremely current. and you know, for a long time the devil commissions be taken by politician that, that, that total seat which is which is hardly having any plans coming to be a port that to which we expect that the fits to promise. and when the 50 or 60 ships from which we have now had to lease to the chinese for $909.00. yeah. right. so it is this issue of corruption, lack of accountability that people are blaming that focusing on the right, the pulses. and they want them to go because they think that they are the ones who have done himself can survive. he's called for talks with protesters, is not likely to appease them at all. well, i mean, the reaction from the incentives, the prime minister,

who wrote an open letter saying that he would like to open discussion the dialogue with the protest. and the british have quickly, or at least some of the reactor to say, we're not going to talk. so that the anger, the protest i director and the raj about the family. now one thing that we need to understand is that the good of the administration, when it came into power, it actually promised a change. it's slogan was system change. but he said was, we were, the real interesting thing in this protest is that the best are taking place with out we did without, without a political party expect to gain power or to form a government through this purpose. because the protest, i, in fact saying that we want this whole system change by for starters,

they want the government that is in place to change. so there are some decisions here. the purpose on getting people are pouring on to the streams without being prompted my but it, right? so it will be very one political party gain momentum from base, but it most certainly will mean that one will it because our family and you said the kind of economy a is not going to crisis agriculture. the food system has been neglected. what the kids to manage your real shift in the tragic sure. our economy policies. and would that happen along with this, the kind of a crime you might even have a worse fascist. that managers don't actually satisfied with much or the last couple years and it's not a crisis. so they really should,

foremost, and my already set the projection, which is going to bring about of what life is like today for ordinary sheer lincolns who are trying to make ends need the situation today at today is a holiday here into the new year. we are just approaching our tradition, you yet doing very quiet usually. but in the, in that area and, you know, the presidential secretary that democracy, they're talking about ideas that brings kids and that's keeping their spirits up because also reading, reading very heavily colombo but that's the rest of the population. they actually demo happening. most of, most of us during this period, we want to travel back to our villages and we don't want and we can do that because there are no buses. and there, i mean, there's a shortage of diesel to do a few of the buses. so many people are just taken tremendously, so people are really suffering. and at the moment it's

a lot of people who are paying the price. but because that, do you think that in food intake, for instance, but the later on it's bundled, it's going to have the others also and also keeping us in the sense that them. but this needs to be aligned to the government. but when they see that this, these protests are not stopping, and they see the wide spread nature of the oven. but i would like to see is a constitutional amendment brought in, brought of bringing back constitutional amendment we had, which is all written by this present time. by visiting our website, al jazeera dot com for further discussion, you can go to our facebook page, that's facebook dot com, forward slash ha, inside story. you can join the conversation on twitter as well, or handle as a james. i story for myself and the entire scene here, and thanks for watching, bye bye for now the

the stages fit and it turn for different approach. one that is going to challenge the way you thing was wor, inevitable. i just want to started to please it. they're not doing the right thing . let's leave simplicity into the headlines. join me as i take on the lies, dismantled misconceptions and debate. the contradictions do we have a real democracy? here in the united states, the smuggler political party, wrote a cool, insurgency are mark lamond hill and it's time to get up front right here on out 0. use from al jazeera on the go and me tonight out is there is only a mobile app. is that the, this is where we dissects analyze and you have to find what's going on. i guess from out there is a mobile app available in your favorite app. still just set for it and tapped are made and you app him out is even need at you

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