think like normality at long last thought height, it's al jazeera quantity says it will be in the world's longest and non stop flights from sidney to london in 3 years time. the airlines ordered 12 a bus, a $350.00 jet for the ultra long whole service called project sunrise. passengers will be in the air for around 20 hours. the 17000 kilometers journey direct flight from us. soon yolk are also plan ah and watching out the are these, the stories were following the sour. russia has reportedly resumed shelling the as of style still works in mary. a poll following the evacuation of civilians about 100 people have been freed up to hiding underground, familiar to among the un and red cross, a coordination in the operation with ukranian and russian forces to al abdel,

how many it is in that region where it's hoped evacuated from the will arrive in the next 24 hours. well, they're still quite a bit away. they're still in russian control the occupied territory router. it's moving very slowly, and that's because that's at several stages. they have to stop. they have to be checked again. these are russian check boys. they have to goes with filtration center where the russians have to vet every single person coming out. so it is an extremely long process. ukrainian official say a strategically important bridge in the south west has been hit by russian rockets . the bridge provides the only road and rel link from odessa to the other side of the denise to estry. meanwhile, a u energy ministers have held crisis talking, brussels after russia, cut deliveries, of gas to poland and bulgaria last week, ministers weighing up imposing a ban on russian oil imports. but there's disagreement over when the embargo would

come into 4 morning, pres, celebrating aid has ended in violence in the ethiopian capital, addis ababa protest is through stones and government buildings and police who? 5 bank. keegan pensions are high after the death of movement in the northern city have gone down last week and death to him in iraq is called dozens of people to take hospital treatment. and flights a back at a port were grounded as the thick layer of dust turned, the sky, orange. and new zealand opened its borders to tourists for the 1st time in nearly 2 years. travelers from about 60 countries can visit without isolating or quarantine . but they must be vaccinated against the virus. those are the headlines i'm emily angry. the news continues here on al jazeera, after counting the cost to stay with us. news,

news, news. news, [000:00:00;00] news . hello there, i'm kimbell. this is counting the call on algebra. your look at the world of business and economics this week, he's a prolific tweeter, moscow centric um put his owner and a 44000000000 dollar deal. so what will the world's richest man gain and how is the influential platform will change. also this week, the mountains of death in the world's poorest nation, i m. s, and world war and many countries are at risk of distress. their calling for urgent

action. so who should foot the bill? uphold dwindling foreign currency reserves. the government limits important tends to the citizens abroad to shore up its cash stockpile. is the himalayan nation heading for an economic crisis. ah, it's been a volatile deal hands if it goes through. it would be one of the largest leveraged buyouts on record tessa, and they think c o l on mosque has agreed to a quiet twitter for $44000000000.00 a could potentially add a new job to his resume, new age media baron, given millions of uses rely on twitter for their news and they might get some of the platforms, content restrictions, relaxed mosques, as he wants to promote free speech. but what does that mean in practice? as well as on the report from new york? the deal is done the month long saga of who will own twitter appears over in one of

the largest and most unusual tech acquisitions ever. the board of directors and twitter unanimously agreed to sell the social media company to even musk for $44000000000.00. up until the deal was announced, there was doubt on wall street. that musk could cobble together the financing needed, but he did. must help pay for the deal with $25500000000.00 in debt financing by a group of banks lead by morgan stanley. in a press release announcing the deal must talked about improving the platform by getting rid of automated spam accounts and making its algorithms open to the public and authenticating all users. but for musk buying twitter is about free speech, or at least his version of it potentially ending twitters current content, moderation, or stopping the platforming of users to break the rules you on mosque is not buying twitter or financial reasons, although he thinks he can make some money on it,

he's buying it for ideological reasons and i think that's the really important part and all this. and that's ultimately what's scary with musk in control. they fear a return to the unruly spread of disinformation on the platform. so as today, a good day or bad day for twitter users, that is probably the most important question here. and i think it's also the question that's going to be hardest to answer. i think that if he does a lot of the work that has been done trying to protect against sort of normative lead, bad speech such as this information and especially he's speech that's going to be a bad day for twitter. but you know, there's a chance that he takes over and doesn't sort of have quite a sweeping of a reform agenda as he that he's put forth in over the last couple. it's been it most us months for twitter must take a 9 percent stake in the company, making him its largest shareholder. he was then offered

a seat on the board of directors, only to have it up roughly revoked, followed by his cash offer to buy the entire company all within the last few weeks . ultimately, eli must got what he wanted to not only be a twitter user, but to also be its owner. gabriel is on dough. how do you see it? new york. but investors have long been concerned about the company's growth. the numbers suggest that twitter is harvey, the most successful social media platform in the marketplace. the company ended 2021 with a $5000000000.00 revenue fraction of figures recorded by other platforms, facebook's core app, and nearly $70000000.00 in advertising revenue. more than 15 times the amount twitter under the same period last year. twitter is not the biggest social platform either. it has more than $200.00. 17000000 davy uses, compared with billions for facebook and instagram. where there have been different

reactions to the deal from politicians while the white house said it's concerned about the power of large social media platforms. some republicans welcomed it as an encouraging day for freedom of speech. to discuss all of that. now i'm joined by daniel, i'm from new york. daniel is the managing director and senior equity research analyst at wed bush security. thank you for your time. i you surprised by this deal, then known in a 1000000 years come in 2022 would think that you are in moscow and twitter. so with that said, of twitter is vulnerable. i mean, the company has been on their performance social media for the last decade and must can knew that there was an opportunity. and also it was a game of thrones to board. look for another bidder. a white knight couldn't find it. must be called his finance, the richest person, the world they had to down deal got done. so you know, look, i think for mosque the easy part. he was playing chassis,

the board was playing checkers. so that was the easy part. the hard parts can be fixing twitter, which is what i view is almost an ever is like uphill battle. there's been a lot of touring and falling to get to this point. it was, you know, is it almost going to join the board? no, he's not. he wants to buy it out that going to put for this poison pill plan that didn't happen. why do you think it is that the board ended up accepting this deal? well, this is, this is a game, or game of thrones, right? and in terms of how it all played out, i mean, ultimately, i mean must surprise the board with the 9 percent the they tried to invite them on thinking musk is just going to eat cheese and crackers in the corner and approving board measures. but we all know that's not much, so one must decided not to join the board. that's where this became hostile. now of course the board did a poison pill and that just gave them time to try to find a 2nd bidder,

but must price for twitter. there's no one in the universe that would match that. so that continued to play out. and ultimately there are options started to diminish and they were at a point where they had to accept the bid for mosque. and that's why we are where we are, because they were really no other white knights. in last, because this isn't about money, he's described himself as a free speech absolutist. how do you think he is going to change twitter? he's talked about obviously making the algorithm open source. beyond that, what sort of changes do you think we're going to see? it will likely goes your subscription model. you're probably per month in terms of what it's paid in terms of the freedom of speech issue. look at the buyer storms issue, you know, i mean how, you know, ultimately do you make sure it's not accessible? you, it has become over the years and then how do you monetize that memory? he's spending 20 percent of his network. so saying famous speech is one thing,

he just basically took a decent piece, bill tasa shares and trade app or twitter. and i think now i mean they're going to have to ok, subscription model, you know, west constriction terms. what you could say. but does that ultimately improved from man is ation perspective because the blues now the tick tock, instagram, facebook in the social media arms race, which continues to believe that's why you know, in terms of musk trading in his task for twitter shares that just puts more pressure on castle stock and you've seen that play out? yeah, i mean, yeah, he said this is, i guess it's about his ideals and his thoughts on free speech. there are concerns in some court is that this could just kind of inflame misinformation that we're going to see even more misinformation that you put it. it's got to become even more of a of assess pit. do you think that's going to happen? what department?

twitter is that we could talk about twitter can trump to all the other controversies, but yet there are 3rd tier player and social media. she never hear tick, tock or instagram, yet, knew the amount of users or 10 acts. and i think that's the problem is that, you know, the balancing act to make sure twitter is and go down the path that's going to be difficult and how do you do it? that's why continues to be, this is a major head scratcher for must the. ready go in, in terms of going after twitter. it's a different animal than paid pal tasa space faxed. his obviously just massive, massive historic success stories. and i think that's the problem going forward. the other issue is that it's political blow back, not just in the u. s. but just globally on both sides of the aisle and now could then have an impact on tasa speech, sex. and that's really been the concern, especially for

a company like cason space or where must is the heart and lungs of those companies . do you think that regulate his could step in and stop the deal or how do you think twitter will react to regulations in general? well, i think from an anti trust perspective, it won't get black because there's really no anti trust issues. i do think they'll be twists and turns both in brussels as well as the beltway. no, probably a lot of sort of regulatory scrutiny because it's such an important platform in terms of global reach. but it, but if you are good twitter stock right now, i still think there's, we'll call 10 to 15 percent uncertainty in terms of what was st speaking in that the, the ultimate does not get done. what must the break up fee be great. he decides to walkway to $1000000000.00. that's pretty small relative to a deal of the size. so it's just, you know, watch out or not just the regulatory, but some of the other issues that could get in the way here. and as we all know,

must 24 hours could change tune as you say, twitter has not performed in the way that the other big social networks have. why is that, and do you think a lot mosque could bring? i guess the last factor to twitter and make it profitable to that point. he pow paso space x ray. when we're talking sherman biggest success stories be scripted last 2 years, may be ever is especially when it comes to catherine space act. but, but twitter is a different animal, you know ok to monetize it. you can make it a paid subscription service department, twitter or just been engagement has not been there. as we talked about, it starts to become just as assess pool in terms of from a heat perspective. and now it's kind of ok, like what could he do to turn this right? there is a must factor. you could see more come on the platform, but then you could also see depending on which way takes some lead the platform.

and i think that really continues to be the conundrum from us because he just spent 44000000000 and that's a walk spent in terms of pushing free speech. especially when it comes to a twit platform. whether it's easier said than done. you know, especially as we've seen over the last years i'm so thank you very much for your time. we'll leave it there from new york, daniel eyes. thank you. the oil prices a surging around the world and the central bank raise interest rates to tame inflation. borrowing is becoming more expensive. the world bank on the international monetary fund say that's putting more pressure on the poorest nations we face. what they say is a huge build up of dash. at least a dozen countries might not be able to pay back millions of dollars owed to lenders over the next year. well, financial institutions are calling for urgent action to find solutions. at a $74.00 low income nation,

we'll have to repay an estimated $35000000000.00 to official bilateral and private sector lenders. this year. government debts and low income countries are expected to exceed 50 percent of gross domestic product. up from less than 44 percent and 2019, before the pandemic started, almost 60 percent of all low income countries are in or near debt distress, which means a to restructure. there weren't risk of needing to do so. and it re, payments are estimated to be up 45 percent and just the last 2 years the i m f says china's share of external debts owed by the 73, highly indebted. poor nations, jumped to 18 percent in 2020 from 2 percent. 2006 for nations will pay china and its land is almost 14000000000 dollars this year in debt servicing costs. while the private sector lending rose to 11 percent from 3 percent and a combined share of multilateral institutions such as the i, m f and the world bank and the parents. clubland business,

mostly rich west and government. phelps 58 percent from 83 percent campaign is a calling for debt payments of developing countries to be dropped this year. almost 50 countries must resume paying back after a g 20 initiative which provided less than $13000000000.00. dead suspension expired last year. the g 20 later launch the common framework, the debt treatments, but only zambia if you had applied for it so far and progress on restructuring, the debt has been slow. greg swenson joins us now from london. greg is the founding partner at merchant bank brig. mcaden. thank you very much for your time. so a huge build up of debt, a credit crunch and borrowing cost the rising. how bad is the debt crisis going to guess? i think it will get a lot worse before it gets better. can look, you've had a massive build up of sovereign get over the, not just over the last 2 years because of the coven crisis. but really after the last 14 years since the global financial crisis in 2008 as balance sheets have

shifted from the consumer to some degree to corporate. but more importantly from the consumer and corporate balance sheet, including banks to the sovereigns to government jets. so this is unsustainable, and i think we'll see some of a lot of potential difficulties in the next couple of years. we're talking today about poor countries. they're not well equipped, they don't have huge reserves. how are they going to manage this? especially as is getting more expensive to service. yeah. does great question come in and then obviously they have to restructure. they have to work it out. that's not necessarily a great long term solution, but it's a near term solution. it's not like they're defaulting, or they're just piling on more debt. i think just refinancing is a mistake because it doesn't solve the problem. it's just extending the obligation . and if anything, adding more interest and an obligation to the loan. so i think it's important that

they restructure they work with the global defies and the, and the multi lat institutions to work out and restructure these loans. otherwise, things will get a lot worse before they get better, especially for the poor countries who can't just print money from their central banks. like like especially the u. s. but also many of the western central banks. if we accept, then that we're in a debt crisis, who's responsible that crisis is that the lenders that we're, is it the borrowers? that's a tricky one. i mean, look, it's really both, you know, borrowers are going to take the money, especially developing countries in africa, asia, latin america, as well as eastern europe. you know, they will take the money if offer and $1.00 of the, one of the results of money printing over the last decade of quantitative easing and 0 interest rates, is that too much money is chasing to few assets. so financial assets had been

pushed up the percentage of fat financial asset valuation compared to g, b, g, d, p, has changed dramatically. and so they have to the lenders in a way, have to reach out to the developing countries to get any type of yield. and the developing countries are sometimes foolish to take the money and fall into a debt trap. it's really, you know, i think both borrower and lender are to blame. and this is what happens when there's too much money to chasing to few assets. there are some debt relief mechanisms. how effective do you think that theme will in many cases, they're very effective. kim, and especially in the near term, you know, some of these developing countries are just running through a near term challenge, for example, over borrowing during the coven crisis. those were not, those were not necessarily issues that they brought upon themselves. those aren't long term structural defects. with their economies, that was just a short term problem brought upon, you know, created by the coven crisis, in many, the western governments,

shutting down their own economies. but also encouraging the developing economies to shut down as well. so. so look, i don't think that's something that's a long term defect. so those tort type of restructurings in the near term are, are very important to the developing countries and important to the lenders who need to restructure work out these loans. but i think in the long term, there has to be a shift from the the, the aid and sovereign debt ma, to more of a long term investment model. that means private capital and to the global development, financial institutions investing in infrastructure and critical imports for these countries. so it's not just loans and aids that need to be reworked. it's long term impact and opportunity from the lenders. alright, from london, greg swenson. thank you. thanks can the ball has been struggling with a loss of tourists, a fall and remittances,

and to trade deficit. but while visit is all starting to trickle back in economic problems are expected to get worse. fuel and food prices are skyrocketing and himalayan nation is running low on foreign currency and could even run out a less than 7 months or not. the number reports now on how the government is trying to sure off it's stockpiles of cash in this bustling market in downtown, got my, do it business as usual, but experts was behind all the activity. an economic crisis is looming. during the pandemic, the number of tourists felt the amount of money sent home by nepalese working abroad, also dropped significantly. nepalese international vit isn't particularly high, but as ballooning in bullet and high oil prices depleted foreign currency reserves experts warn the country could be headed towards an economic crisis. if the government doesn't step up in time. and there are other pressures i'm going to

say to guy, there's been a hike and oil prices, a leader of petrol, that cost around $100.00 rupees. now costs $160.00 rupees. nepal central bank has taken action to manage import and increased foreign exchange reserves. that's some kind of the challenge in the economy, particularly because of the import of some of the items, for example, the vehicles and the petroleum products, which are a large portion of the board in nepal. so how we can manage that? that's one of the issues that is struggling in the present context. reducing by dia, import cars, and heavy duty equipment to nepal. she says it's important for businesses to work with the government, the central bank and business community. we being all completely him import oriented economy. we have a huge trade in balance because we have nothing being exported from here or at least

a little being exported from here. so every small change in the world on the globe, in fact. and that is why we have these, you know, these spanish situations every now and then as nepal absorbs economic shops, experts say it needs to act fast to avoid a full blown crisis from coming through, i'm joined now by this wash called child the executive director of the do based institute for integrated development studies. thank you very much for joining us. so let's start with putting it simply isn't a poll on cost for an economic crisis. not at all. no year in economic crisis in the pile. we are feeling some pressure on next, another tech to balance, but it doesn't mean that we're facing in economic crises. no ball is running out of of foreign currency reserves though those reserves fell by more than 16 percent just in the past few months. why is that and how low are they against the countries debt?

what happened was after called lead to activities quickly recovered the one bank credit and then import. so this led to some our external balances. so our main problem is on the thompson. unlike incident where the problem is more on the extra non dead hours is more on the terms of trade because we have been facing a very large deficit for last 5 years on our, our current account deficit, it's growing every year. so that's where some measures have to be done to check the negative consequences. let's talk about remitted remittances. they constitute nearly a 3rd of the economy. the government says if one 100000 never leaves national, living abroad, each deposited $10000.00 into netflix banks that could help overcome

the crisis. i mean, how realistic is that, though? actually in that sense, is our revenue turns as a, as a bus. and as of the tv has come down to at 22 percent or so from the highs of 26 percent is back. but that certainly significant revenue for the, for the country. so. so that is majors that government wants to implement the new, the major, one of the new measures that taken by development ease to tap the savings of it by the dads but are leaving in advance countries. and you know, you know, the name of the banking institutions have started getting a very attractive invest straight worked in dollar deposit as well that local

currency dep legit. so that has started objecting on the dashboard in advance countries and that is m all many just that i would like to take in future. but that don't have, at least in the short term, that's going to have us to have a better cover for our in boards. yeah, let's talk about that. the reserves, as you said, less enough for less than 7 months. so how is the limit on non essential import? how is that going to help? how much is that going to help the government from that ball has introduced measures to ban 10 items of import and few months back. the central bank has tightened the credit for import and this together have, you know, started making some impacts in tom stuff in bullets, but all there always are room in the private sector. the import us to find the ways to import

a goods. but i think this is one of the major majors that go out and has to take it because immediately there's no other ways rather than to, you know, put restrictions on the bullets. because ah, these are the emitted major that well government can take for in the long run we need to initiate a lot sofa structural reforms to address this issue. but immediate immediate towns . i think putting restrictions on import is the one of the ways that a government can do. all right, thank you very much for your time. is osh kosh out there from kathy. thank you very much. and that is also for this week. get in touch with us by twisting me at kim vanelle and do use the hash tag 8. see to see when you do or you can drop us an email, counting the cost at al serra dot net is our address. as more for you online at al serra dot com slash c d c, that will take you straight to our page, which has individual reports,

links and anti episodes for you to catch up on. that said, for this edition of counting the cost to, i'm kim the now from the whole team here and i'll help thanks for joining us. the news on al jazeera is next. ah, ah. witness this flavor? witness? reader, witness, slavery, witness people, witness, power, witness and lifetime. witness and our witness, man. witness bees, witness prejudice. witness. peace, witness. love,

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