the end of the world trade center in new york city, the 2001 of type. so new york, the pentagon and pennsylvania, with a douglas on us soil never getting this is the same thing all over again. it hurts with and then it has to be this way, but it still feels some, a little bit home thing from the day. but i'm, i'm trying to pass by, you know, trying to get through it and move on. but is ceremony is as big as he's bringing in, but i needed to be it's been a long time since i was here. i haven't stepped foot on the on his grounds since october of 2001 the you're watching. so i'll just, if it makes a whole regular mind to,

of all the top story mold in $2600.00 people have died in the quake that struck central or okay. so 5 is all being housed and 10 south to the home. so destroyed many of searching for loved ones, tripped onto the russell, as well as the, the, the atlas mountains, and the epi center rescue teams do understand that the upcoming hours are the most decisive, the most crucial when it comes to advocate and it shows to plain survivals under the rubble behind to be one of the areas that was severely compromised by the s. quick many buildings were flats and there was a building tilting behind us up for the last few hours. it is hop of it is now gone because they were desperate to retrieve a mother and her side from that area, a pot and see they were found dead. a digital assistance is arriving in morocco as the government struggles to deliver aid to those hard to reach areas for balance as

i me except to help from the u. k. the lines that are vibrant, state, and canceled despite also is by dozens of countries and age groups. in other news, at least a 150 people have died in flooding and east and livia, following heavy down for some storm. daniel will forward the site to thousands of us and the full city of data. libby is rival governments of both of those 3 days of national building. a factory is capsized and nigeria drowning 28 passengers around says he was rescued in the book while region of night, just state. it is ro demonstrates of the gathering outside the supreme court in west jerusalem. the head of appeal hearing your games coming is to digital powers on tuesday. in july, the parliament passed amendments to lo, limiting the quote's ability to open root government decisions. it's far as extremely unreasonable. those with the headlines would be about quiz bowl news in huff, and of course you follow those stories on a website. it's all just that comes updated throughout the day. next, it's counting the cost to stay with us. in a world where the news never ends,

understanding what's behind the headlines is more important than ever. it takes listening to the people behind the news and to the journalists reporting their stories. accept intimacy that makes every international story local at heart. i'm only can be the host of the take a daily news podcast powered by the global reporting of algebra. find us where ever you get your pod cast. of the 11 o'clock visit accounts of the cost. so now to 0, we can look at the business and economics this week, clement said he is not just victims, african leaders, the amount more funding to transform the continent to

a clean energy pow house. also held back by mountains of that african nations demand debt relief to help and locked funds for climate solutions. the plus partners done is a feeling the pinch of power bills and anger as mounting of the impact of strict performs, imposed by the i am at the site. a results rich confident that contributes at the least to global warming. africa news is up to 15 percent of its economic outputs every year to the devastating impacts of carbon emissions. and yet the confidence has received only a fraction of the funds needed to help tackle extreme where the africans have long been seen as victims of climate change. but now leaders in the region one to transform that narrative and become champions of climate solutions. the 1st africa climate summit in kenya they've demanded, wealthy nations pay the fast share and invest in the confidence green energy

potential african leaders propose new global carbon taxes to fund climate change fraction, billions of dollars with pledge to help reduce global warming. and that includes boosting common credits, which a bought by companies to offset their emissions for campaign and say the approach allows large corporations to continue polluting the weld. i will discuss all of that with, i'll get shortly. but 1st, the kind of government says climate change and related effects of overtaking poaching as a main threat to want life. a new approach, the wildlife conservation is underway in the nation, where people have wild animals living side by side micro level as this to the from photograph nelson on the right, the drive through lands that are almost unrecognizable compared to just a few years ago. all of this was an over greys dustbowl. locals built fences to keep wild animals of the land, but now that's all changed. the fences had been taken down and animals had been

welcomed into a new conservation area. the community was facing a free full in loss of land. so when we came in, we had to get rid of 25 kilometers long lines of fences. it's high season for tourist. many your heading to the nearby mass sign morrow reserve to watch the great hold of be as migration, but very little economic benefits ever flow to local communities. that's why the natural light conservation area decided to do things differently. we will weary about approaching those institutional fund, those that funds for trans conservation because and then they will tend to and meditative and we wanted to buy a new yeah. a model that is community lead. they want to create one of the

longest migration car doors in the region linking by sy mara, to the reserves and the serengeti, the 200 people working on the project. they say they're already seeing the benefits of working together, living stuff that they allowed to work with, the standards of living is improved. we put aside money for our children's education through this refund. one time to hold, especially during the drought community members deep into that contributions to help provide food and other basic commodities. tourists often stop over at the village to sample the traditional way of life. it's hope the nephew lie, initiative can inspire others and make conservation a groceries phenomenon. mike level for counting the cost. well, let's take this all a 9 join now from met cape town by carlos lopez who's the chair of the african

climate foundation and professor at the university of cape town colors. welcome to the program. a site from conservation to energy transition. all need big finance. fos, and there are lots of finance places as you know from the, at the africa climate summit. the pledges are easy to make it easy to break. what do you think of those commitments and will they be met? you know, most of the cases of promises in brooklyn, nations, the induced summits don't have that real meaning. and people have become quite the april critical about the displeasure as uh, the reason is that we have now 14 years of records in terms of promises that have not been met. and i think uh, this the announcements of about $23000000000.00 for the african climate summit. the are likely to be exactly the same. what we know for sure is that climate financing so far in terms of constitutionality is part of the official development assistance,

is part of aid. and what we know, because a destruct by the we c d is that there is a reduction of the a, the envelope in direction of africa, of about 7 percent a year. so what we know is that we are likely to see more of the labeling rather than new money. what about this idea of global tax is carbon taxes. how is that? what does that have any traction? and you'll be, it's something that has been under discussion for quite some time to gain some traction in the product. somebody put a new financial. ready packed, and i think the africans are very keen on having some mechanisms that will be more global, more predictable than the kind of pledges that we have seen so far. it looks like uh, in the areas like model time, but our sports and uh, certain logistics and fossil fuel profits, it makes a lot of sense equal penalize polluters. and it will be very much in line

with the idea that we have a all calm and responsibilities but differentiated their responsibilities as well. the government responsibilities are basically the fact that we have to save the planet, but we have not to contribute to the problem. the same way and the africans are being very much in the demanding side for the operations for not having being part of the disaster that we are witnessing right now. and not having being compensated even with access to finance and the same terms as the others. right. well, one form of compensation being pays on a massive scale is carbon credit at big at the summit. so big potential source of revenue tube is a lot of criticism is the and ga power shift advocate puts the just a wolf in sheep's clothing. i think excuse for police has to keep on polluting. once you will take was part of a team put together by the secretary general united nations, to look into green washing. and this is one form of green washing that has become

quite common. and our report is about integrity and if you look into the integrity that is necessary for a couple of credits and the capital markets, you will go through that. it is possible to repair some of the damage that has been done in terms of reputation for this very good way of contributing to fixing some of the patient difficulties that the africans and other vulnerable countries pop out or facing. but in order for us to do the right thing, we really need to make clear that wherever it is going to buy carbon credits is going to do it as part of a package that should include a very strong mitigation efforts. first. and 2nd, we need to make sure that the intermediaries are not going to melt away and not allowing actually the ones that should receive the credit is to have the major advantage of this market. because right now, what africans are getting for the real carbon credits emitted is basically less

than 10 percent. so this is becoming a bit of a colonial, trapped of using a different type of commodities ation. and that's why the n g o is not up in arms, but i think, you know, we're not, we're not in a situation where we can just disregard this possibility entirely. all right, hang on, let me call us cuz i wanna come back to you in a seconds on this bone has recently completed off cuz 1st debt for nature swapped deal with 500000000 dollars. the agreements are arranged by the bank of america low as the interest rates on the nation's debt and prolongs repayment periods and return double. and we'll spend millions of dollars to wide number reading, reserve, and strength, and fishing regulation. but a recent 2 in the nation has sent invest, scrambling to assess the impact of the security situation on the contract at back to carlos, chair of the african climate foundation. so that for nature swaps what do you make

of them? are they the way forward? i think we need to see this discussion about that because there is an impression that africans are trapped in that when you fact that that the g p ratio is rather low. what the actually conserves is a situation where they pay for whatever they have to the contract in terms of something in funds at levels of interest rates that others cannot even think of between 6 and 15 percent. when countries in europe and america in united states can actually afford to have the subsidies that will allow them to not to really be in a plane level field. and yet, you know, in terms of default in terms of the capacities of africa, we have to generalize the fact that most of the country they've been quite responsible in the way they have dealt with that southern and responsibilities. you

have a few exceptions that have not been able to to meet that or that that, that the targets and that obligation. but what we have right now is a liquidity presence. and because we have liquidity, prizes, we need money. and one possibility is actually to use that as a way of entering into the climate debate and making sure that we have a type of restructuring that is commensurate with the sort of brooklyn nations that people are making. and that's why that, for nature makes sense. but i think we are not yet at the scale that is necessary. we are really testing the grounds. we have some sort of pilots give on being one case. so shells being another, but we are really far from the $1.00 trillion dollars that the object cuz need to address the climate. yes, it's a huge amount of money, isn't it? a huge amount of investment required, but kind of investors be confident of investing in africa when you know the

situation is what we see in the bone and elsewhere in west africa going on the keys and conflicts and general mismanagement of investment funds. well, it's a, it's a fair, it's a fair question to ask whether the investors will be confident with a political situation that is demonstrating instability and new forms of come to station and sort of, uh, the codes that are very much linked to this new funds of contestation, but what we have to also realize is that probably most of these schools are a result of the vulnerabilities that resulted from the defendant may be wanting a crane decline with crisis. so countries are really in the limits of what they can afford in terms of social programs. and did you have these me is actually quite the recall renting the secondly and region. and the most of the owner of africa is also affected by it. so you have a situation where

a lot of these countries are really in the edge. and part of this is because they are not being able to access liquidity in international markets. and obviously, if this continues, i expect that we'll have more and more crews or other forms of contestation. so that's why the questions of the investment have to be turned into something that is bigger. most structural, we have to address the global financial, the governor's systems that i'm not allowing africans to be uh, you know, treated the same way as the others for this is for renewables. you have investments . i thought i made everyone in the world right now. so that i more than money investments, the best 3 tons on investment according to every knowledge has made enough. because we have 60 percent of the renewables potential because you know, the, the characteristics of the investments are completely different. and yet, this is where you have least investments, it's about 3 percent of the total,

me and you. you can repeat this story over and over and come to the conclusion that africans are really in a situation where, you know, we are putting the entire, the entire continental vicious circle. okay? that's why, you know, used to be me, will perform the rest, the kind of stand by because it's, i want to come back to on somebody you've already alluded to. and that is african need is urging reform to the global financial system that has left african nations paying any 5 times more to borrow money than others. because external debt raised 5 fold between the $22020.00 the confidence public debt reach almost $700000000000.00 nearly 3 years ago. and 12 percent of that money is owed to chinese lenders. so call us this reform of the global financial system, which is spearheaded by the bridge town agenda from mr. barbados is gonna come through the bank. uh, how is it gonna shape up? i think the calls for the forward most depends on what the solutions are now. she

did by is different processes that these institutions themselves put in place. i have no doubt that we'll have some progress progress on the copy though. i do see that will allow for liberating more and more possibilities of multiplying concession ality with additional money from the private investors because you do risk some of the investment projects. you have certainly ways of using this, the special throwing bikes, just like the i m f currency that would allow for a multiplication of projects that with the address some of the transition requirements, you have also issues over represent activity. africans are asking for an additional seat in the i m f and also model presentation tools bank. so i have no doubt that this reforms are going to see the lights. and this here is going to be a crucial year for those reforms. this being said, this proposals for

a breach stall as good as the they are not enough to address the volume and the scale of the problems that africa facing. that's why in this optical climate submits the object comes out a bit more than the dishes and they're put to across a certain number of proposals, particularly your relation to how you deal with fiscal sovereignty. and now you're dealing with the global fisco problem, such as the profit, the shifting that is allowing for about $24000000000.00 a year to leave the company and the shop release with financial flows. and the issue of actually contributing for an increase of opportunities within the african market with the continental free trade that yeah, so besides some responses that compliment just doing what the breach style and what the bretton woods facing, cushions are putting in place themselves. and you know, it's the, it's a much more ambitious agenda,

the color slip as chair of the african clement foundation. thank you. thank you. the. now the debt crisis does the fact to move in 3000000000 people that soulmates halls of the world's population. thousands of developing nations are forced to spend more money pay interest on that spend on health and education. many of them are at risk of default practice done needs move in at $22000000000.00 to service it's data and pay bills next year. the country has secured a $3000000000.00 deal with the international monetary fund to avoid a default on his debt about the global lender demanded populace subsidies be flashed as part of the conditions for the bailout package. petrol and electricity prices have rocketed, while the reco depreciation of the rupee against the dollar has depleted people's purchasing power. thousands of traders went on strike last week against the rising cost of living. let's hear what some practiced on

a shelf owners and people at the say, yes, the chicken people have been bearing this for the past 70 years, but now it has reached an unbearable level. may god have mercy on us, otherwise we don't see any hock lookout for stock currencies depreciating against the dollar. it seems like in the future we will take money in a 2nd to buy bread. there is the issue of our currency as well as those for electricity, a very high inflation is high to actual prices are going outreach. we are labors, we are daily wages. how can we afford this is very difficult. it was too much. prices have risen more than 200 percent the iron $50000.00 rupees a month. and i have received an electricity bill for $26000.00 rubies, and i can either pay this bill or buy groceries. i also have to pay bills for gas and then have to pay for school fees for my children to somebody last month. i have to sell a gold chain belonging to my wife to pay for my children's overdue school fees.

what to discuss all of this? i'm joining now from is low. i'm a bad by i'm a, have you con is a non resident senior fellow at the atlantic council, south asia center, also the chief executive officer at the credit book, the financial services. i'm a con, welcome to al jazeera. first up. tell us more about the impact of the electricity price hike on ordinary people. the price high has been disastrous for a lot of houses because they're not expecting the height to be this much. uh, the surprises have been consistently increasing. i would say that have doubled in less than 3 years, and incomes have not changed accordingly. so obviously electricity prices continue to make up a significant portion of the household income. now we must spencer, during the diag for the inflation over the last one year has been 50 percent. so household incomes are disposable income is already fairly stretched. and when you add to the increasing electricity or utility bills, that just a lot of stress and strain the process due to this,

it's been very difficult for how so is particularly for house or, and which i, i work on and i find customers which may go about 60 percent of the door benedictions in the country, people of inducing the electricity consumption. but there's so much consumption that you can renew at a certain fine. what's actually happening right now is because i personally boost, i mean, be so much deeper. do not have the capacity to be any more so people are actually doing the forwarding on their payments are being less this. one of those in a higher line bosses are lower collections as a government is not able to collect the bill, but you're used to for the problems as a read the side is fee of that. and it could city private living beach or dipping point at the stage. is it just on the removal of the subsidies? that's to blame here. and it's not really the movement of the subsidies a subsidy, but i was unfairly blamed here. what's really happened is the government has kept on increasing the taxes off and it puts the price is because the government

continues to run a physical depth as a vendor has been running. if has been difficult for the last many years, it utilizes electricity bill as a crutch to increase the tax revenue. so even right now in delaware would investigate data. 30 percent of the data. what i would say 33 percent of the data is just government taxes. so because of the increase in taxes that collect or higher builds, so it's not really subsidy, but more in that expectation which isn't hurting the more vulnerable households, more than anyone else. and the government has come up with an electricity relief plan, which is being turned down by the i m f. what do you make of belinda's conditions? do you think they could benefit text on the people? but the lender here, the items ready clayton's mind. it just was a physical surplus of primary surplus that the government for revenues are greater than it's expensive. it would not specifically talk about electricity bills, what it was actually to the government to start increasing its revenue to the government goes with the plan. good. hey, we reducing taxes on that for the best,

but right, including taxes and other areas that shouldn't be fine as well. so i just feel that the i'm, if it's just me and a skin board in this whole process. but it's actually the responsibility of the government actually increased more direct taxes brought in the tax net rather than just taxing the most of the house or again and again, lots of countries offering loans to pockets done, including china. but is that just leading the country into debt trumps in the country is already in the desktop right now as we speak. and that's not, you know, extra, another factors or extra little countries. it's not going to go into effect as well . because over the last 12 to 15 months, we haven't been able to raise a lot of extraordinary dec or dollar base that any way. so what's really happening is we just have raising a lot of local then a lot of really denominated debt, which means that a lot of our local expenses are increasing and the same are being covered to that.

so we have already in a desktop right now, what is china is actually doing is maybe helping ferguson and review some of the been by restructuring some of the boards that are the ones providing support as and rendered way. but if i look over the last plug for b must not, i'm not no external, that has come on to box on. if anything, extra under the day for body, some is actually reducing the loss of the month. and that's not good because then we haven't gotten any additional debt or what that one needed to be. bid has been repaired without being refinanced overall. what do you think is a way out of pakistan's debt crisis and might things improve off to the elections using the the only way or the why do we big that? that is a structural fundamental question. we did that because expenses are greater than revenue was so the way out of this is essentially trying to fix the physical in our physical position. we need to reduce on expenses, not a sports expenditure that continues to happen and increase their revenue was once

that equation starts to change. the cumulative dec vios, you is grad, really going to go down and we can slowly and steadily come up with this crisis. but if we do not stop spending, if he keep on spending, if we keep on running more and more different, eventually be able to reach a point, we would have to keep adding more and more data in the point it gets on sustaining . but in the same, the new, the stock to still continue with this may of course in the situation, if there's a new government and mist dr. will have a magnet will be more aggressive in terms of that expectations that will have a clear mandate in belgium producing expenditure. so yes, a new government is extremely critical at this juncture because that would have demanded a big more right or more structured on long term decisions. an interim government may not have the capacity already been demanded for being such decisions. great to get your perspective on this. i. com. thank you. thank you. and that is all show

for this week. if you'd like to comment on anything you've seen, you can swing me and it clock out just please use a hash tag. acdc. well, just drops an e mail content and costs out is there a dot net is our address. putting more of you online at ads or adult coma slash cdc? that'll take you straight to our page, which is individual reports links and indeed into episodes view to catch up on that's it for this edition of kind of the cost on the cloud and the whole team. thanks for joining us. the news on al jazeera, coming right to the the editor, everything to with an exclusive interview disability. very beautiful,

but it's cruel. people can forget you the next day, slip pulling stupid stuff to pop up on faith, the media and the challenges at the top bridge and help me so much get off of the media, all the feeling and everything and go back to reality. wendy's money. you have to be careful, money change, people, generations flows on out to 0. tens of thousands of children were born in to well live down to the i still regime in iraq and syria. now many are in kemp. i the role funds of with the, with the mothers rejected by their own communities checking the few things that people are going to welcome them after that. of course, not an emmy award winning documentary. here's the trailing and traumatic story for children. throw stones at me erects last generation on out just in the

colleges with the a 3 days start major as quick america hopes of finding survive as sight and devastated villages in the atlas bouncing the gloves over on the do what you're going to say. we're like with headquarters here in the also coming up under the fed, denise that libya following flooding caused by stone dime. you also thousands got the outside is right.