Skip to main content

tv   Counting the Cost  Al Jazeera  February 18, 2023 1:30am-2:01am AST

1:30 am
comes up, you can have a genetic flaw. i'm exchange of animals which is good for, for the long term. was hooked up from the speechless conservation you. every one in this resolve is confidence. and also mall started. put a little bit for the 3. i forgot to know each individual wall over the last them 7 months, so relieved that we don't have the chicken everyday anymore. and phoebe 3 those but turn 50 of it. so the say really his creatures will soon be starting their new life a long way from home. their caregivers hope they will thrive in their new environment . catherine soil, alta 0. ah . a quick look at the main stories you've been following this hour and rescue efforts are winding down in many parts of quite yet. southern turkey,
1:31 am
the focus is shifting now to relief efforts, helping the millions of people who've been left homeless and in need of humanitarian assistance. the united nations is saying that honored void 38 trucks of arrived. in the rebel held north west of syria, though activists in emergency teams have criticized the slow pace of response to last week's earthquakes. more than 45 and a half 1000 people are confirmed to have died more than 39000 of them in tokyo. more than 5800 in syria, though these figures are likely to rise. there are many thousands of people in both countries that are missing and unaccounted for. all this is aftershocks continued to rattle the region. a turkish disaster agency says there is one every 4 minutes which amounts to 4700 tremors since the quakes 1st struck by an at smith house more from a temporary relief center. in a donna. well, i got mas as there are 74000 buildings that are still standing,
1:32 am
but must be demolished as soon as possible. and when you talk about that, we're talking about again, homes, people's homes, not the ones that have already collapsed into the ground, 374000 people, or been evacuated. many of them were living in these tense. the government's intention is for these to be very temporary. this place, for example, behind me, should be shot by monday. people are being moved from the turns into university accommodation allowed to pakistan where the taliban claims to have carried out an attack on a police headquarters in karachi, killing at least 3 police officers and one civilian 11 others were injured. and what local media were reporting to be in a heavy exchange of gunfire between the police and the attackers who stormed the compound. 3 of the attackers also died after a series of loud explosions. this is the latest in a string of attacks to have taken place on security forces in the country. and
1:33 am
world leaders of meeting in germany to discuss the state of global security. the main focus at the munich security conference, russia invasion of ukraine, which is transform europe security landscape. for the 1st time russia and iran have not been invited to the summit. ukrainian present rosamille zalinski is urging allies to speed up weapons deliveries. he says that any delay threatens their own safety. those are the headlines this, our counting, the cost is coming up next. so i'll just 0. we are. but should they not be more oversized perhaps so foundations like yours? we listen when it comes from diversification. we don't do it in order to beat, gets rid of the rational under source. we meet with global news makers. i'm talk about the story stuck on al jazeera. i
1:34 am
hello, i'm money inside. this is counting the cost on al jazeera. your look at the world of business and economics this week, reconstruction efforts all to earthquakes into kit and syria could cost billions of dollars. that bill is likely to worse than tech, he is already struggling economy. so how will the country cope also this week? people in north western syria feel abandoned by the world off to the devastating earthquakes. the un has increased, it's a deliveries to the war torn country. but is it too little? too late? nearly a year off to russia invaded ukraine. the nation's economy is wrecked. financial aid from western donors is helping some businesses survive. but is it enough to keep the entire country going? ah, took he is worse. earthquakes in nearly
1:35 am
a century have kill tens of thousands of people flattened entire city blocks and wrecked businesses. response efforts are shifting to coping with the aftermath and providing shelter, food, and medical help to survivors. attackers president has promised to rebuild affected areas within a year. he's allocating more than $5000000000.00 for initial disaster relief, with cash handouts for families. but business groups say the total restoration bill could exceed $84000000000.00 or so said a reports life has come to hold in the torture city of the on. since the earthquake struck last week, and nothing symbolizes that more than this clocked over the landmark of the city, the clock stopped went to question the region. like many others here, jobby of this there has sent his family members to stumble because of the devastation. though no natural gas, no electricity, no water,
1:36 am
nothing for food. we rely entirely on the aid disputed in the 10th city. more than 1000 buildings have collapsed here and around 10000 people lost their lives. those who survived are now struggling. only 25 percent of the city has water of the pipes were heavily damaged. it will take days if not weeks to repair them. 60 percent of residents are living without electricity, none are getting natural gas. this was the largest stadium in our the ammon. it has now been turned into a tense city that's home to more than 5000 people. turkey is environment and urban planning minister, murat, groom, told al jazeera that the government will provide people with more shelter, and promised homes will be quickly rebuilt. it is now, some parts of the city are provided with electricity and water. we are repairing the infrastructure of the city. now though, for natural gas, the process of damage assessments is continuing. once we fix the pipes,
1:37 am
public buildings such as hospitals, schools, and buildings that a slightly damaged will be our priority to provide gas. we will rebuild the homes within a year. did he go mozilla business here has also been disrupted. and must haves have either collapsed or are heavily damaged? this is what is left of his ers, thus sharp. surely that lucy, we have lost everything. whatever we had in the shop is gone. we don't know how we will resume our business again. but at least my family is alive. according to some reports, the earthquakes have already caused turkey more than $80000000000.00 in losses or 10 percent of its cross domestic product. in our, the, among the scale of destruction is immerse and the displacement of survivors is becoming the humanitarian crisis. rescuers here are not here or fewer voices. from under the rubble. they're gradually shifting from finding bodies to clear in the debris and providing the essential goods as services to tens of thousands who have
1:38 am
survived this from soda, ojo 0 or the among southern turkey. joining us for miss amble is how can act by she's the managing director of strategic advisory services. many, thanks for joining a programs there. a scale of the destruction caused by this earthquake seems so immense. do we have any idea yet a fee economic impact? thank you. so much for having me. and also i want to thank all your viewers for bearing amazing solidarity turkish people during this very difficult time and the humanitarian. i'm a last i has been are all while me obviously you need to move on and liberal lives according to early estimates. i'm right down be will be looking at $84000000000.00 of economy cost and almost $70000000000.00 of it would be in the infrastructure and the housing side and around $14000000000.00 in terms of
1:39 am
loss manpower, as well as impact to the g d. p, i would expect probably up to 2 points of g d. p growth from the turkish economy side this year alone. one 3rd of 30 feel manufacturing and exporting facility is actually had been built in this region. and dave are not physically operationally impacted by the los their employees. and from that perspective, they would be losing production. probably they would be they would say close probably till the end of march. and on top of it, these can, their own port also had been impacted, which is a major's at a g steel export toward this region. it contributes to about 15 percent of turkey,
1:40 am
agriculture output. it will be impacted on the production site in addition to the to the steel industry. obviously, the touch styles and logistic infrastructure is also very impacted from the force perspective. you know, even like godaddy, which was one of the bursted cities alone contributed to 5 percent of turkey's exports. so huge apologies picking you up on the agricultural side of things. is that going to have an impact on food insulation? which turkey is already been dealing with? yes, always, at this point, we have 5. significantly more problems and inflation. but before these quakes, it contributed a great deal to the poverty and cost of living. the official number was about 65 percent, annually inflation. without any doubt with this,
1:41 am
it will impact the domestic. i'd be cultural, i'll put that for the supply should be hurt, and unfortunately, the negatively hurt the, the price to add onto the cost of living and charging. what sort of impact do you see on the housing market? you touched on it, but of course we have this whole controversy around building codes and so on. what impact exactly, is it going to have on the housing market just to share with you the magnitude of the scale over a 170000 buildings have been impacted at about 25 to 30000 of them at b, it is basically gone or impacted so rebuilding this whole region is going to very important, but i think it is also the, the regulatory drug as the sort of the moral side of the story. because it's as late as in 2018 turkey passed, an amnesty of
1:42 am
a law for all the zoning in the region in the country, but also in the region which is where basically you issue a building code building license to sup our buildings. so this is really expose the on the paintings of all the chevy construction that has been going on for the last 20 years. and unfortunately, this is part of the populace moves on the ass off the government or any government to really issue these licenses in exchange for votes. and if you will know, turkey was headed for elections on may 14th, but that will surely have an impact on that, as well as the se, massive reconstruction needed. can turkey afford what it's going to cost to rebuild these areas that happened? destroyed? yes, again, good turkey is do $20.00 country and construction has
1:43 am
always been one of the leading sectors, the economy and, and also these numbers, although they'd be looking at pencils, billions of dollars with the support from a domestic and international resources organizations. they should be able to rebuild lives. it's going to take several years and it's going to impact. you never will be the economy and all the talk to people, you know, true. our taxes would be partially paid for this. but i think this is going to be one of the probably most manageable parts of this for the 3rd quarter, if you are a foreign investor looking at turkey right now, what, how you looking at turkey in the short, in the short run and in the long run this was probably one of the deadliest disasters in the history of mankind. and from that perspective,
1:44 am
this could happen to anybody. and as an investor strategic investors, i would tend to look at the me to long term fundamentals of any country including 30. so from that perspective, before the quake, obviously it was a young, vibrant gillian economy way. it's very hard to get the valley educated basically, book force and also it, the location of the country is a very strategic as part of the customs union with you as well. as being it literally a strategic point between east and west and very again are very vibrant economy as well as the infrastructures from telecom to education. it is still a high, long term high potential emission area. and also,
1:45 am
especially these times, i think one would really a look at the timing of the investments. and before these quake, it was already probably one of the cheapest places in terms of asset prices in the book. so from a return on investment perspective, you won't be before these quakes. so if for any long term message me to strategic game plan is definitely needs to be put on the agenda. really interesting to talk to you. i can bash managing director of the strategic advisory services, took interest from a stumble. thank you, sir. thank you story. ah. the situation in syria is starkly different to that. in turkey, a little international aid has reached parts of the north. most people that were ready displaced because of the country civil war. now the earthquakes compounding their misery. more than 4000000 rely almost, and tati on
1:46 am
a to survive. aid workers have pleaded for help, but the un has acknowledged it's failed to deliver. it's now appealed for nearly $400000000.00, an aide and boosted deliveries to the area to getting permission from the syrian president to use 2 more border crossings from turkey. the u. n. was previously restricted to using just one border crossing approved by the security council for a delivery of the agencies and countries in the region have sent a shipments by air see damascus international airport. but none have reached areas on the opposition control. joining us from wellington in new zealand is come, saw an economist and non resident fellow at the middle east institute. thank you for joining the program. so why has the international community been so slow to help syria? i think there is a combination of factors. one of the factors is the fact that the asset regime has such
1:47 am
a long history of diverting aid and stealing it at times. however, the situation in northwest syria was different. that part which is held by the opposition, received far less aid, not because aid is being diverted, although it is being diverted, but to a far lesser extent compared to regime health, syria, but their, their response. there was virtually nonexistent because of the united nations, refused to activate its emergency mechanisms and to deliver aid to people in that region without the permission of the, the security council or the asset regime in damascus. so the only crossing from turkey into north northwest syria, which is about bill, how are the only crossing which was authorized by the you and for delivering aid was not accessible in the 1st few days. most critical for rescuing lives in the 1st
1:48 am
few days of the earthquake. so that meant that the you and could not deliver aid altogether to northwest syria. now the response of other countries also by laterally was very disappointing. virtually no aid was delivered to northwest syria, which is the, the part most vulnerable in the country, bosher, all assad, blame the sanctions that the u. s. has put on syria for the lack of aid is he right . sanctions do play a role in him during the humanitarian response. that's just a fact. however, the impact of sanctions on the humanitarian response is hugely exaggerated by the asset regime. so what's actually limiting that delivery of aid is the factory of the regime the, the diversion. it's, it's a factor that matters a lot more than sanctions. now do that,
1:49 am
how do sanctions hinder the humanitarian response? so say you are an organization based in any country around the world and you want to send money to, to syria. you would actually struggle to send that money using the formal channels because of western sanctions on syria. now what i mean by saying it hinders the humanitarian response, but it doesn't stop it. there are many alternative ways to getting that money into syria. there are other impacts for sanctions on the humanitarian response. however, their impact is hugely exaggerated. what is the humanitarian situation in syria now is a getting in, in a nutshell, the humanitarian situation in the country has never been worse. it's not even during the 1st world war when syria was still part of the ottoman empire, aid is getting in and even though it's actually,
1:50 am
it's been dwindling over the past few years with a donor fatigue. it is actually getting in. the main issue is that it's being politicized. it's being diverted. and that's why most people are actually not benefiting from it. what more can the international community do to help applies the syrian people? i mean, i think the number one thing that needs to be done is pushing for a political settlement. that's the only thing that's going to help the country stand on its feet. again, a political transition that restores the hope of syrians in investing in that country. in bringing their money back from abroad into syria, there are other things which are more operational that need to be done. for instance, aid that's forming the backbone of the economy in syria. now, it needs to be distributed more equitably. so people who deserve it need to have it and it's being stolen all around the country to, to varying degrees,
1:51 am
obviously. but something needs to be done about it. and if you allow me to just add the very last thing, i think there is an issue with the united nations as an institution, responsible for delivering humanitarian aid. it remains obsessed with its protocols and that the sovereignty of its members states instead of focusing on humanitarian needs. i mean one of the main 4 pillars of the humanity of a humanitarian response is that the relatively relativity of needs that is not being met in syria. people who need a, the most, i'm not receiving it. come shod and economist and non resident fellow at the middle east institute. thank you so much for your time. so, russia's invasion of ukraine has uprooted millions of people from their homes, cut off access to its ports, and disrupted, forming more than
1:52 am
a 3rd of the nation's budget is being spent on battling russian forces. the economy shrank by more than 30 percent last year. that's the largest decline since ukraine declared independence from the soviet union in 1991 tens of billions of dollars and international aid has helped the government to continue to provide services. the u . s. has provided nearly $50000000000.00 and military financial and humanitarian aid to keep almost half if that went to the military. several you institutions provided more than $35000000000.80 ukraine. the majority of that amount was allocated for financial help. the united kingdom was the fed, highest contributes of aid to ukraine, with more than $7000000000.00. pledge between january and november. the i'm f says ukraine needs at least $3000000000.00 a month to finance. it's war time economy. and it would cost almost $350000000000.00 to rebuild the country. ukrainian officials want western
1:53 am
governments to use rushes, frozen assets worth more than $300000000000.00 to fund reconstruction efforts. let's dig in more into the cost of russia's invasion on ukraine's economy with joined from london by you again. yes. lip sofa who is a senior economist at oxford economics. thank you for joining the program. what is your assessment of you? craze. economy almost a year now into the wall open has done that. okay. i'm here in a hosted colossus was around 50 percent in march. and april, by the end of the year, this contraction narrowed to about 35 percent of that notwithstanding massive ah, missile attacks in your grades, energy infrastructure. so for the years, the all if contracted by 30 percent, i mean, which is a huge blow ah, but the economy has been collaged and it's still functioning. why do you think that is the case? well, there were 2 elements that, oh,
1:54 am
that were crucial. the domestic response, which was very effective, the monetary and fiscal response or fixing the young have read me on the currency in implementing capital controls. avoiding a bank wrong or for effective bank, a commercial bank response and fiscal authorities and this ah, fixing of the read now and close capital controls were also enabled by and sustained international board. so that the central bank and that could replenish its reserves and world and the rest of the international helped at all, went to supporting the budget an am military help. all of those elements are very important, but those loans are going to have to be paid back at some point on they, on the debt is building up huge pace. about half of the money
1:55 am
that came last year came in the form of grants. it was but $32000000000.00 that ukraine received. and 15 or down or 17 even was wrong. mostly from the euro for the month in use of knew that was negligible around 15000000000, but it was given a, a scale of disruption. it was, it was not extraordinary. and did that to to d. p is 85 percent of 2022, which is again huge. but a lot of countries in peace time simulate that levels. i'm going to reach about a 100 percent at the moment. they are all day every payments on august nominated data is suspended until 2024. so it's actually your brain is over a gene on technical default. essentially, the majority of funds have been coming from the united states and the united
1:56 am
kingdom. both those economies have their own problems and economic challenges is their concern that at some point they won't be able to give as much as they have been giving. well, i wouldn't say that the u. k has been one of the biggest providers. it's basically the us, yes, the lines share on the you so much for financial assistance from the you. yes, there are very strong internal push back to through this process. but there's still really a consensus of the ends of the day that it would cost much more ease this security situation got out of control. and only if you're grain, lewis is this, or it would have indications for broader international order for the security in europe and security in europe is very important to the us. so at the end of the day,
1:57 am
i think that might be more scrutiny given the republican majority in the us or the same thing. majority of the democrats, depending on which brought him to congress, you're speaking maybe more groups in neighborhood, they end up today. it seems like at the moment being national partners, i'm actually planning to make sure that this help is more regular this year than last year. and so that they indeed make sure there is around $3000000.00 a month. this year. ukrainian officials have suggested this idea of turning to russian assets seized assets to fund the reconstruction of ukraine. how viable is that? as an idea in, in, in the slow process? because legally, and so this, there's definitely a desire to main. russia saying,
1:58 am
and the result make sure of russia pays off with every, every construction. if not everything i'm bought at these hot, i'm the western partners, want to make sure they don't shut the legal precedent where all central banks will be afraid that they're off. if i can be, i can be seized and then it will be a problem essentially for dollar as a reserve currency. so the process will be will be slow and legally very. i'm very thorough at the moment. there is already some early progress already being made and even under conditions where this money will be temporarily used and then return. i mean, it's not an easy process and they think ukrainian economy will not be able to wait until they see issues resolved. rush and money will be coming on for this purpose of really interesting to speak to you. yes, kenya slept so of
1:59 am
a senior economist at oxford economics talking to us that from london. thank you and your home and that is our show for this week. get in touch with us by to see me at money inside until the hash side ha, ctc. when you do, or you can drop us an e mail accounting because out is there a dot net east our address. on this movie online al jazeera dot com slash ctc. that will take you straight to our page, which had individual reports, links, an entire episode visa catch on that is it for this edition of counting the call styling site from the whole team? thanks for joining us. the knees on al jazeera is next ah
2:00 am
blushes war in ukraine has dominated well, he's for the past 12 months. devastating for those in the line of fire or directly impacted. it has strengthened global alliances and deepened divisions with far reaching effects on the lives of millions of people. worldwide. in a week heard special coverage al jazeera explored every aspect of the conflict, the human, the political, and the economic, and the possibilities of resolution. ukraine war one here on, on algebra ah.

16 Views

info Stream Only

Uploaded by TV Archive on