whoa, it's a $1000000000.00 money. no one's bring operation for coal. marsha is bigger than the company with financial institutions, regulators and governments complicit about with it. right. i'm just right, that in a 4 part series al jazeera is investigative unit that goes under cover in southern africa, pittsburgh. we can fill 90 percent of the government once it's refined, it's practically brand new. good. part one on al jazeera, under cover reporting a exclusive stories explosive results. al jazeera investigations. ah . the u. s. federal reserve booths interest rates by a quarter of a percentage point. the pressure on the banking sector could pull was any further rises.

ah, any book this is al jazeera life in london also coming up and go over in action in beirut protests against a devastating financial crisis that shows no sign of increase reports of sexual violence linked to m. 23 rebels in the east and d. r. c. survivors tend to each other for support a more than a quarter of a world when access to clean water, the un says a global water crisis is imminent. ah, the u. s. federal reserve has announced its hiking interest rates by $25.00 basis points to 5 percent. the fed says the rise is aimed at reagan again, inflation is cost cause a cost of living crisis. policy makers of indicated they could be one more interest rate rise this year,

but the recent term all in the banking sector away on economic growth, the federal reserve working with the treasury department and the f. d. i see took decisive actions to protect the u. s. economy and to strengthen public confidence in our banking system. these actions demonstrate that all deposit or savings and the banking system are safe. with the support of the treasury, the federal reserve board created the bank term funding program to ensure that banks that hold safe and liquid assets can if needed, borrow reserves against those assets at par. this program, along with our long standing discount window, is effectively meeting the unusual funding needs that some banks have faced and makes clear that ample liquidity in the system is available. but heidi j castro has more from outside the federal reserve in washington, dc. the decision to raise the interest rate for the federal target fund by a quarter percentage point is a result of 2 competing forces. on one hand,

the federal reserve was under pressure to increase the interest rate higher in order to bring down the inflation that americans have been experiencing now for more than a year. however, there was that other pressure which was a result of the banking crisis that appear to develop over night 2 weeks ago. really, there had been tensions bubbling under the surface for a long time. but essentially what happened was 2 medium sized banks. silicon valley bank and signature bank ran out of money to return to depositors. why did that happen? while their assets suddenly dropped in value? the bonds are no longer as valuable after the many interest rate hikes that came out of previous federal reserve board decisions. so seeing this hike of a quarter percentage point is essentially finding a balance between those 2 competing forces. speaking shortly after that us rate

rise. treasury secretary jetta jaelyn said she would work with the senate on legislation to ensure those responsible for bank failures were held accountable. yellow and wound that even the failure of a small or community bank could trigger bank runs as much as a larger bank failure. she said the top piracy was stabilizing the banking system and improving public confidence in it. earlier i spent a, claudia saab, the founder of some consulting in a form of federal reserve economists. she explained how raising interest rates helps with g inflation. the idea of raising interest re, what the federal reserve has been doing now for some time is to make it more costly, to borrow more costly to invest, cooling off demand. and that takes pressure off of inflation. but that is the way that the reserve can work in the economy. that's what they've been doing. that's what they did today. the added twist is, well, bank failures and turmoil factor also raise the cost of borrowing. so we've

actually got 2 forces at play. ready once we are well into a high cycle, so the federal reserve today made it clear again, they made you to do more work. they have to figure out exactly how much tightening came from the banking, but they're no longer signaling. we're going to go 7575. we're the big catch up phase of the re heights. how much more happens? depends on does inflation start coming down? is what they've done in the past. really working j policy today, they're assigned to this inflation. there are signs that this has been working in a lot of other forces bring out inflation. it's a matter of time, but the fed will stay with it. ready till they get inflation down, record food cost cause an unexpected rise and you came face for february. inflation last month came in at 10.4 percent. it was the 1st rise in 4 months and had actually been expected to fall to $9.00. the rising cost of food and drinks, clothing and footwear, as well as restaurants and hotels,

for main drivers. it's expected to increase pressure on the bank of england to raise interest rates on thursday. the barbara has war from london will after several months of falling inflation. this is something of a surprise and it poses a headache for the bank of england, which has already raised interest rates 10 times since december battling double digit inflation. so the headline figured them yet, or february 10 point 4 percent rising prices. 3 things driving that really 1st in the hospitality sector, rising prices for alcohol and then food and non alcoholic drinks. for example, there been shortages of some vegetables from southern europe, partly due to supply chain issues linked to breaks it. partly bad weather and rises in general for food are over 18 percent. so that's going to hit the low income households, the hardest. and then you've got rises in clothing and footwear, particularly for children and women. now,

the chancellor of the exchequer that britain's finance minister, jeremy hunt, has reacted saying that this is a reminder, no one should take a falling inflation for granted. but saying that he'll stick to his aim to cut inflation by half. by the end of the year, the office were budget responsibility predicted it would get below 3 percent by the end of the year. but just on tuesday, he was calling this double digit inflation dangerously. high it's dangerous politically for him as well. 2 the opposition labor party have said that this shows that nothing is working better in britain compared to a 13 years ago when the conservatives took power. union bosses similarly as saying that the cost of living crisis is not being dealt with sufficiently by the government criticizing. last week's budget for favoring more well off households. and so this is just a reminder that with britain experiencing the highest inflation amongst the g 7 group of developed nations. this is not just an economic challenge, but

a political challenge. the devastating financial crisis in lebanon has pushed hundreds of people back on to the read some process against the government. police fire tear gas to break up demonstrators on the streets of the capital bay. read. many of those retired soldiers demanding a living wage. inflation has been skyrocketing since 2019 making a sensual data purchase is increasingly unaffordable. and problems with the banking sector meant some struggle to access their own money. lebanon's economic collapse is devastated its banking sector and turned the nation into a cash based economy. this deprived a nearly bankrupt government, billions of dollars a revenue, and is driving elicit activity as dana hotter, as reports now from beirut, lebanon has become a cash economy. it's the result of a 4 year old financial crisis brought about by decades of mismanagement and corruption. the banking sector is crippled and the country is close to bankruptcy.

it's the biggest threat that the government of the country is facing because it has a very, very, very dangerous the empire economy as a cash economy. all the money is going to the private sector. the solution is only in one place that is to normalize and finalize the restructuring of the banking system. law. restructuring is one of the reforms required for much needed international support to provide the economy. but that means the political and business elite will have to compromise their hold on power, something they have resisted so far. in the meantime, money transfer companies have stepped in as have other financial institutions, many of which are not regulated. 50 to 60 percent of the daughter d, d p. actually considered to be in the shadow economy. so outside the states,

this includes 2 types of activities. you have information activities, which means enterprises who do not declare the employee is that they have to not declare their exact revenues, but also you have the elicit part of these activities. this is causing concern, particularly among western nations. that tracking elicit cash transactions will become more difficult compromise in the fight against money laundering and the financing of armed groups. an estimated $8000000000.00 is exchanging hands outside the radar of the state. that includes an illegal activity such as smuggling across the border to syria. the informal economy is also growing. the international labor organization estimates that 60 percent of the workforce is not taxed and doesn't benefit from social protection. the government is unable to provide services and its struggles to pay public servants, although the salaries are negligible,

given inflation. and with a cash economy means big losses. the government loses around 20 to 25 percent of expected revenues because of corruption, bribery, and tax evasion. initially, when all the while many war lebanon is operating outside the international financial system than eclipse. ls eda balte ah ukrainian officials say at least 7 people were killed in russian drain strikes on the key of region. 2 dormer trees and an educational facility is the chief south of the capitol would damage the attack. according to a regional police chief 20 people were taken the hospital and several is still missing. ukraine's forces say they shot down 16 of 21. iranian made drones launched overnight by russia. the attack of the key of region was followed by another

russian missile strike on 2 residential buildings in separation. at least one person was killed there. ukrainian president vladimir zalinski condemned the attack . at least 25 people were taken to hospital after 29 story buildings were hit and in crimea, russian officials say the navy repelled a drone attack on this vast port. 2 days earlier, an explosion on the peninsula destroyed russia. miss alice couldn't ukraine's defense ministry. they were intended for use by russia's black sea fleet. nearly a shop of oliver has more from moscow. the morning attempt to hit russian targets in crimea and 7 total with 3 drones. all devices were destroyed by 2 women offices, bows, well received state awards. so this is the laces from survey showing good. the russian defense minister basically the rest of information we have on the semester latan comes curtsey over, got the notes of us total and the high resume shives and his telegram channel. so

the truth tried to get into the bay that's according to resume jive, russian. the russian sailors fire fired a small arms at them and there were no casualties, but some windows and into residential buildings were blown out. g, 2 explosions caused by destroyed drains. and after successfully repulsing the drone of tom, to stop all the ukrainian knots is according to his vision. if again, on his telegram channel, they launched an informational talk, but to crimea is safe according to the governor. and if anything, basically anything dangerous is going to happen, that people will be informed by the authorities. and this is not the 1st recent attack by ukrainian trends in crimea, as we know not so long ago, a massive tried by several ukrainian. these was carried out in john coy on the crime in peninsula late monday evening. on march. the 20th,

in other news charities working in camps for people who have lost their homes in eastern democratic republic of congo, say they're supporting at least 10 rape survivors every day. script safe, sexual violence is worse, and as the conflict between the government and m. 23 fighters, escalades, malcolm web reports from a company, a gomer in nor keyvi, and a warning, some viewers may find part of his report. distressing. all of these women say they've been raped in the last 2 months. there's almost no support for survivors of sexual violence in this camp near the city of goma. so they cancel each other. most of the people here fled as the m 23 arms grew advanced through messina territory, claudia, not her real name cuz she was going to collect firewood with a group of women and girls when they ran into armed men wearing military uniforms. how can you come with doug? how can you help me? they tied me to a tree and i was raped by each of them. the 1st, the 2nd, the 3rd,

and then the 4th. the others were raped by other men. one of the girls in our group didn't survive, she was too small, she died during the rape. we spent 2 days being raped by those men. claudia says he doesn't know which armed crew her attack has belonged to peter congos army hughes, the backing armed groups in its fight against him. $23.23 widely understood to be backed by neighboring rwanda. those governments deny supporting the groups. in spite of overwhelming evidence and 23 is seized, swathes of territory from the government forces. over the last 9 month, people ran away from their homes and their farms up in the hills because it was no longer safe but life down here and the camp comes with many other problems. whole families have been scattered. people sharing shelters with complete strangers, have been left traumatized and vulnerable. claudia says it took her weeks to

finally reached the camp. then she says she was raped again by a man who attacked her in her tent. she says it's the survivors that helps her feel like life is still worth living flores be a week, a started it we 1st met her last year after she was forced from her home, had been helping people in the camps ever since. she has time for everyone who starts to talk or ask for help. she says she's recorded more than a 120 reports of rape. you arrivals this year while i was on and i saw the m, the 5th. the majority of them were raised by m 23 when the villages were attacked. others who hid in the bush were raised by fighters from other groups and some also on their way here. but people who are out of control will listen to them and encourage them. we do whatever we can and give them what later we have. they have

almost nothing. a small shelter and a handful of donated medicines. some of the survivors told us they have infections, injuries or severe pain. but they say just being listened to help malcolm wed al jazeera glen gay democratic republic of congo. it without a zera's still to come. israel's parliament over turns part of a law that band the legal settlements, the applied westbank and is the party over for boards. johnson, the former u. k prime minister faces questions that could decide his political future. ah hell i we had some very heavy rain into where victoria central and eastern parts of victoria. i went towards new south wales. recently some live dish has many part see

excess of 50 millimeters to friday. the space of the last 24 hours or so, showers remain in place over the next 24 hours or say we will see some more wet weather i, which was at eastern side of australia, a few showers up to was crazed. and just around the gulf commentary, some really heavy right easing across the top and i've, it was the pill bra, that'll be the wet weather. also starting to show its hand across said w i as we go through the next couple of days. not seen too much of that recently. and in fact, past few days have been since habit is getting in. it says a 40 degrees celsius, one or 2 spots that will change as we go through the next few days. is that where to where the still lurking there on friday, across the eastern parts of new south wales pulling away from victoria, heading over towards new zealand. some pretty wet weather, just tucking in at this stage and run this way up towards the northeast of new south wales. but look at that, some really heavy range are starting to push its way back in across a good part of western australia. so that's something to look forward to. we'll see some wet weather, also making its way into japan over the next couple of days,

streaming through on thursday, but clearer by friday. ah, the coveted beyond well taken without hesitation. fulton died for palla defines al. wow, that we live here. we make the rule, not them, they find an enemy and then they try and scare the people with people in power, investigate, exposed it and questions they used and abused of our around the globe on now to sierra. ah ah,

welcome back. a reminder the top stories here with al jazeera, the u. s. federal reserve bank because increase interest rates by a quarter of a percentage. point to 5 percent is the highest level since 2007. the fed also indicated it might not have finished lifting rates at a rate, rises expected in the u. k. to following a surprise increase in the inflation rate record food costs. so inflation, in february jumped to 10.4 percent. it had been expected to fall to 9.9, ukrainian official se least 7 people were killed in russian drone stripes on the key of region 2 dormitories and an educational facility. as i said, she of south of the capital with damaged to the attack. regional police, she said 20 people would take him to hospital and several of store missing at least 5 african migrants died when a boat sank off the coast of tunisia. 5 people were rescued and 28 are missing.

they left to choose the city of so fox, in an effort to reach italy, according to local rights groups. israel's parliament as overturned parts of a law, the band or legal settlements in the occupied west bank has been in place since 2005 when israeli settlers were ordered to leave during israel withdraw from garzon . the move could see as railways return to illegal settlements, they were ordered to leave in 2005. they include the villages of her mesh, so know, cut him and gun him. there near the palestinian cities of janine and nablus, or mash has been a flash point between palestinians and israelis. in the past. settlers have been trying to re establish the site permanently to through 2005 disengagement plans or israel removed more than 9000 settlers from 21 illegal settlements from the region and estimated more than 600000 to australia. settlers now live in hundreds of legal settlements and outposts across the occupied west bank. oh,

cool. some sharif as more liquids, rarely settlers and the nested lips, the ban on for settlements in the occupied best man. it allows settlers to return to illegal outposts 18 years after they were ordered to leave in 2005. then prime minister ariel sharon agreed that israel would be drawn from garza and seed. the 2nd mens under the future deal with the palestinians. israel has now reneged on that agreement at court. okay. and both everything exists fair except for the people. the house is the people who are evacuated and the houses that were destroyed. now we came to fix it and there will be a town there. the palestinian authority has denounced to move amongst i'm told why i think when they return to the so called homage settlement and other settlements. this will show us that this government is going ahead with its plan to take an x, the lands and continue. it's open battle against the palestinian people,

the you and israeli l i. d u. s. have condemned the decision. last month. these rarely government announce it would recognise 9 settlements in the occupied westbank. since the 967 war israel has established more than 100 outposts on palestinian land. the settlements are illegal under international law, and the un has previously described them as a war crime is retreating from international commitments. israeli is denying the seizure of its own supreme court to return the land of those sentiments to its private but as an owners any also denies it law. the law of these engagements, which was accepted into some 5 when when is pulled out from god, the changes are the later in the cds of controversial moves by prime minister

benjamin netanyahu was far right. coalition government, which took charge in december. it comes at a time of height and pensions and the worst violence between israelis and palestinians in recent years on the consumed sharif of jesse ra. so there's an imminent risk of a global war to crisis. according to the un, which is hosting is 1st conference on water and sanitation in 45 years in new york, it says more than $2000000000.00 people don't have enough water for at least one month a year. 26 percent of the world's population doesn't have safe drinking water and nearly half of them don't have adequate sanitation. the u. n is wanting water shortages will get worse in the coming decades, especially in cities unless there's better international cooperation. are diplomatic as a james base has more from the u. n. in new york. this is the 1st conference of its type for more than 40 years. some presidents, prime ministers,

as well as many ministers from all around the world have gathered here in new york . they know the problem is very serious. the estimates suggest that water demand in urban areas around the world is likely to increase by 80 percent. by the year 2050 . i been speaking to the foreign minister of bangladesh about the challenges his country faces regarding water. this is really important turban, but this because reality wine country, we've had 857 drivers criss crossing the country. in addition, we in the peep up the bell, been lol, and the indian motion into specific what is a life everyday life. and therefore an album laid to the had been locked to abuse a water and waters. so the ocean said good preserver for it on the card when emissions the global warming. and nowadays, since we have abuse in water and i the chemical plastic as it is all the global

warming is these absorb, it is not absorbing as much of this. and we want to save this planet act. and one way to save this planet, besides and esther, i mean egless, he been deceived, also to upkeep the waters. and therefore this conference is really very important to run by this. in addition, we also have many, the worse, which comes from other countries, $57.00, the rest comes from other countries and we have to develop it. program policy said that all the people of that are in the line and cashman should be benefit. so what needs to come out of this conference to make it a success? tingley need to look forward to universal code of conduct in utilizing the what are the sources, maintaining the water and all but you must protect and preserve the water. the cross nations, it tells us the good news that so many countries are talking about water and

talking about cooperating on its use privately. though diplomats will tell you that all the commitments that come out of this week's conference will be voluntary. and there will be no final binding agreement. james bay's al jazeera, at the united nations. now former u. k. a prime minister boys johnston has testified before you k parliamentary committee that could decide his political future. john, since accused of deliberately misleading parliament over parties, how during covert 19 lock downs is told the committee, the events were wrong. that is in 5th city, did not lie to m. p. 's church hall has the support some have called it boris johnson's last stand. this colossal figure of british politics, demeaned under close questioning by a cross party committee of m p. z a. but what have you, this is very important point. now, what is it? whatever your interpretation of the guidance may be?

what matters if i may respectfully say is what i believed to bean, our efforts to follow the guidance. why thought that they were credible and, and wholehearted. and what i would ask you to allow me to ask his next class course at issue here is whether johnson lied to parliament about locked down parties in number 10, downing street. no, but i'm sure that whatever happened either guidance was followed the rules and honest adding time the the home of prime minister, adamant he did not. i am here to take you handled haunt that i did not lie to the house. johnson concedes his statements were misleading, but uttered, he said, in good faith that you've been told by aids, the events in question were work related and within the guidance. my honest belief that it was within the rules was based on what i was told by senior advisors. the

fact that this was my honest belief is supported by the fact that so many other people honestly believe that we were doing nothing wrong. the committee at one point described johnson's defense as flimsy, and said that to the man who was prime minister at the time, who made the rules and who broadcast them frequently to the nation, it should have been obvious that what was going on was wrong. johnson's retort was that, therefore, it should have been just as obvious to others who were there, including current prime minister rash sumac sooner was fined by the police for breaking the rules as well as johnson. in this bid to clear his name boris johnson, apparently happy to tarnish the name of others. i think it's quite clear to everyone that he misled everyone in everything. but do you blame him? could anyone have done any better? i think he'll come back to johnson now it's more,

more life in him still popular in some quarters. but johnson's hopes of a come back looking, slimmer and slimmer. it will be for the privileges committee to decide whether he knowingly lied to parliament. a decision that in turn could see the form a p. m. ejected as an m p. jonah, how al jazeera london thou, the 1st time london piccadilly circus has been lit up when the ramadan lights to welcome the slamming fasting month. the words happy remedy illuminates the streets with the installation, carrying thousands of lives under the 1st major city in europe to host a spectacular light displayed to a month with mer studied, calm, calling and a symbol of the capitals. diversity ramadan is celebrated by muslims world wide with people abstaining from eating and drinking between sunrise and sunset. ah.