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tv   Counting the Cost  Al Jazeera  February 21, 2023 8:30am-9:01am AST

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as we know, the israel isn't there, isn't one to, to take legally binding un security council resolutions as a, as legally binding. but instead the u. s. than one of these frantic negotiations in order to prevent a un security council resolution which it might have had to veto because of its unwavering support for israel and certain jo biden's on unwavering support for, for benjamin netanyahu. and the reason for that was the u. s. really ones, the focus this week to be on russia and ukraine. and later on this week they'll be a un general assembly resolution that the, the u. s. will be introducing, which will be condemning russia is illegal invasion of ukraine. ah. type picture of the headlines here on al jazeera, a new back. the $26.00 earthquake struck turkey is hattie province. at least 5 people have been killed and another 213 injured acid bag as mono from attack. yet
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we understand them a full people inside one was recovered alive. this is a 3 remaining them just or tags one. and we're told that the other 2 also died from the rescue workers and his moments ago they bought that by the out. now we understand that the 4 men had gone into the building to recover some of their belongings. edward van authorities had worn people not to go into that building, but nobody really expected. another vicar loan of the magnitude that we've seen. well, the quakes struck near the city of and takia in turkey year, but it was felt in syria and as far away as lebanon. it comes just 2 weeks after powerful quakes devastated the area, getting more than 47000 people into kia and syria. al jazeera zana hot in beirut, and has been falling developments in syria. in northwest syria, as well as in government controlled aleppo. we're getting reports that some buildings that were damaged in the february,
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6 earthquake have collapsed. but we're, we're not getting any reports of, of serious injuries. most of the people of people who are affected by the, the initial earthquake 2 weeks ago are now living in 10th outdoors footage or, you know, video emerging from, from that corner of syria. you can see people in their cars, those who have cars, those who dont are are just in the street. so people are frightened their, their, their panicking. yes, president joe biden has now arrived in poland after meeting with the cranium. president vladimir zalinski biden promised to stand with key for as long as it takes, he also pledged $500000000.00 of additional military aid and for the sanctions against russia. at least 40 people have been killed off. a torrential rain triggered flooding on landslides and brazil, se on monday, president luis and ass unit. a sofa flew over affected areas and tom neighborhoods have been submerged. the hundreds of people have been displaced. the un security
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council has issued a formal statement expressing deep concern and dismay with israel's announcement last week of the expansion of a legal settlements and the occupied westbank. it says, such supplements impeded piece so those were the headline news continues here now 0 after counting the cost statement. that's watching bye for now. african story from african perspective. short documentaries for you can still make it in a bad way. we were pioneers of how the economists could change the way. would you be good? i'd be happy to go into a physical done. i have with africa direct on al jazeera. ah, i
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hello money inside. this is counting the cost on al jazeera, your look at the world of business and economics. this week, reconstruction efforts, salt, 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 its 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 don't as is helping some businesses survive. but is it enough to keep the entire country going? ah, took. he is worse. earthquakes in nearly
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a century have kill tens of thousands of people flattened entire city blocks and wrecked businesses. response efforts are shifting to coping with the off to mouth and providing shelter. food and medical help to survive is attack as president has promised to rebuild affected areas within a year. he's allocating more than $5000000000.00 for the 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 amazon since the earthquake struck last week. and nothing symbolizes that more than this clocked over. a 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,
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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 not 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 tom's will be quickly rebuilt. electric is now some parts of the city are provided with electricity and water. we all repairing the infrastructure of the city. now though you for natural gas,
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the process of damage assessment is continuing. once we fix the pipes, public buildings such as hospitals, schools, and buildings as a slightly damaged will be our priority to provide gas. we will rebuild the homes within a year jedi goal. knoxville, business here has also been disrupted, and must shops have either collapsed or, or heavily damaged. this is what is left of his. erstwhile shop is at o. c. 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's life. according to some reports, have already cross turkey. more than $80000000000.00 in losses, or 10 percent of its cross domestic product in the, on the scale of destruction is immense. and the displacement of survivors is becoming the humanitarian crisis. rescuers here i'm not here to feel voices from under the rubble their graduate shifted from find them buddies to collect the data
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for white in the essential goods as services to tens of thousands who have survived this. instead of that of the iraq or the month 1030 year. joining us for miss stumble is how can a boss, she's the managing director of strategic advisory services. many thanks for joining the program. so the scale of the destruction caused by this earthquake seems so immense. do we have any idea yet of the economic impact? thank you so much for having me. and also i want to thank all your views for basing . ready turkey, people during this very difficult time and the humanitarian loss has been overwhelming. obviously, you need to move on and the lives according to early estimates. right. we will be looking at $84000000000.00 of economy costs and almost $70000000000.00 of it would be in the infrastructure and the housing side
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and around $14000000000.00 in terms of 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 feel manufacturing and exporting facility is actually had been built in this region. and dave are not physically operationally impacted. they lost 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
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15 percent of showcased 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 annual, the inflation. without any doubt with this,
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it will impact the domestic. i'd be cultural, i'll put that for the supply should be hurt and unfortunately you never to be 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've had 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 and 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, the sort of the moral side of the story. because it's as late as in
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2018 turkey passed, an amnesty of 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 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, it again goes turkey is
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a do $20.00 country and construction has 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, through 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. the search quick 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.
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and from that perspective, if 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 vi, gillian economy way, it's very hard to get val 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,
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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, be the 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. sorry for 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
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their misery. more than 4000000 rely almost in tati on 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. so you damascus international airport, but none have reached areas on the opposition control. joining us from wellington in new zealand is cut them, saw an economist on known 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,
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the fact that the asset regime has such 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 non existent 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, nor northwest syria, which is babel hello, are the only crossing which was authorized by the you and for delivering aid was
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not accessible in the 1st few days. most critical for rescuing lives in the 1st 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. basher al 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 the delivery of aid is the factory of the regime? the, the diversion it's, it's a factor that matters
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a lot more than sanctions. now do that, 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,
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aid is getting in and even though it's actually, 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
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and it's being stolen all around the country to, to varying degrees, 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 upper you said millions of people from their homes,
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kind of access to its ports and disrupted, forming more than 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 pledged 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
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$350000000000.00 to rebuild the country. ukrainian officials want western 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. mark said, ah, mister fox and your friends, energy infrastructure. so for the years at all, if contract to $0.30, which is a huge blow but the economy has been large and it's still functioning. why do you
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think that is the case? well, there was 2 of them in the crucial the domestic response, which was very effective and monetary and fiscal response fixing the reason y'all, the currency in implementing capital controls. avoiding the ban kron also affect to bank commercial bank response and fiscal authorities. and these are fixing on the read now and close capital controls will also enabled by sustained international support so that the central bank could replenish its reserve and, and the rest of the international how it 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 august. the huge pace,
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about half of the money that came last year came in the form of grants. it was but $32000000000.00 that ukraine received. and 15 those 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 about 85 percent of 2022, which is again huge. but a lot of countries with in peace time, similar 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 difficult. essentially,
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the majority of funds have been coming from the united states and the united kingdom. both those economies have their own problems and economic challenges. is that concerned that at some point they wouldn'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 out. it's basically the us, yes, the lines share on the you. some of her financial assistance from the you. yes, there are very strong internal pushback to through this process. but there's still really a consensus of the end of the day that it would cost much more if the security situation got out of control. and only if you're grain, lewis is this, or it would have implications for broader international order for the security in
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europe and security in europe is very important to the us. so at the end of the day, i think there might be more scrutiny given the republican majority in the us or thing. they majority of democrats, depending on which part of the congress you speaking, maybe more group neighborhood they end of today. it seems like at the moment veins national partners actually are 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,
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because legally. and so this, the thing that they desire to make russia say, and we will make sure bruship pays for the rate of construction. if not, everything on the western partners want to make sure they don't set the legal precedent with old central banks will be afraid that there can be can be seen. and then it will be a problem essentially for dollar as a reserved currency. so the process will be and will be flow and legally very, very thorough at the moment. there is already some early progress already being made and even on the conditions where this money will be temporarily used and then return, i mean it's not an easy process. and i think you're bringing in economy will not be able to wait until they see shoes. riddles ration money will be coming for
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this purpose. really interesting to speak to you. you have kenya slip service senior economist at oxford economics, talking to a staff from london. thank you. thank you. that is all show for this week. get in touch with us. bye sweetie. me at money inside on the side a j. b. when you things, or you can drop us an email accounts and the cost out there. adult net is our address on the move for you online at al jazeera dot com slash cvc that will take you straight to all page which has individual report links. and the catch on that is it for this edition of counting the call time on the inside from the whole team. thanks for joining us. the nice on out there. ah ah.
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a serious delicacy. days with one man leading the country through us present to alice out his lawful legitimacy. he needs to step back. how has he retained control through over a decade of war? we examined the global power games of president bashar al assad. we believe assad simply carrying out iranian orders. what keeps you awake at night? many a reason that could effect any human eyesight master of chaos on al jazeera. ah, hello, i'm darren jordan in doha with a quick reminder of the top stories here on al jazeera, a new mag.

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