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join them as they set out to save the environment learn from one another work together for a better future. many songs do you all for tuning it down for good. on d w. are the clouds of economic crisis finally beginning to clear the international monetary fund praises a to outlook for a global growth of 4 this year but it's a lopsided picture. also on the show calls for a minimum global corporate tax rate are getting louder starting with the u.s. treasury secretary janet yellen someone europe say they're all for it. and contact lens shopping in moscow and why data activists are steering clear of it. this is

c.w. business i'm joined now by law on how you can join us. here's the good news the global economy is expected to grow by 6 percent this year the bad news the rebound will be far from even that's the message from a report by the international monetary fund out today while spending programs and vaccine rollouts are guiding richer nations towards recovery for countries especially those that rely on tourism are falling even further behind as a result last year the economic crisis pushed an additional $95000000.00 people into extreme poverty defined as living on less than one u.s. dollar and 90 cents a day vaccine inequality and lack of polish support is worsening the situation so while there is a rebound there are some caveats here's i.m.f. chief economist he took open not what we are seeing is multi-speed recoveries around the world what that means is that countries that have very stiff different

stages both in terms of the pandemic but also in terms of their recovery and how quickly they're coming back to pre-code. g.d.p. levels so that's why we emphasize that now it's important for countries to take a tailored approach which is specific to where they are in terms of the speed of their recovery and in terms of the country specific of the touristic for instance how much do you rely on tourism because we know that that's going to be effective for a long period for more i'm joined by my bar he is the head of the world economic studies division of the international monetary fund welcome to you sir 1st off the key message is that the brightening global outlook is mostly driven by the recovery of rich countries what kind of policy support is needed in poorer countries in the global south and africa to make the rebound more even across the world economy. well thank you for having me as you just heard on that clip from get

a copy what we're seeing is multi speaker countries with the advanced economies looking to improve their prospects this you on the back of strong policy support and with some mixed news coming out of the market developing economies there with china doing well but many others in the group still looking to get back on the part of your bill recovery in terms of the support that's needed to ensure that all countries get back on your recovery desta be a concerted effort at the international that it to supplement what these countries i do at the national level policy spaces is very limited in many of these countries the end to this crisis with high levels of debt and the pandemic has worsened that situation so therefore it's imperative for the international community to step up its efforts in terms of the support of the health front by ensuring i could use but also in terms of access to internationally quiddity so that these countries can

meet the headlights of spending needs and continue on to cover the parts. but doesn't it worry you sir that rich countries and europe which itself has seen a sluggish vaccine roll over a lot are you worried about how they will be able to help developing countries struggling to vast to vaccinate and recover from the crisis. well what's clear for awhile now is that the the only durable route out of this health crisis is if we reach out immunity and that will allow all contact intensive activity to resume and for cross border travel to resume and the fastest way to get there is through widespread access to vaccines and at the moment we have a very secure picture with with advanced economies procuring large monaco's says and it's true that the logistical problems with the rollout have been more difficult in some parts of the world and in others even within the advanced economy space but without a more equitable access to do with vaccines without meccan robust mechanisms for

ensuring that excess doses can be redistributed from countries that have procured surpluses to those that need them without adequately funding the cold x. acidity which many nordic countries rely for that exceed procurement and also by ensuring that we have avoided export restrictions on vaccines nationals and all of the steps that needed without which we're not going to see this your recovery even in the global economy now briefly if you can is there any evidence that the pandemic has caused a rejigging of the ranking among the world's economies. well as as as we just discussed and as you heard in the clip we just see much of out of the. feets and that of course means that the relative economic weights shift with this but this is a reinforce. this is reinforcing the trends that you see in entering the pandemic when the weight of the global economy has shifted gradually towards

emerging market in developing colonies that's likely to continue going forward even with this with this these diverging recoveries of course the speed at which that that shift in which was projected to date place has been has been revised now we don't expect that shift to happen just as quickly as we thought it would prior to the pandemic but the overall picture remains one of which is a gradual shift in the way the economic activity 2 words are going in developing economies now heart of our is the head of the world economic studies division of the international monetary fund we appreciate your insights thank you for having me now here's something else the i.m.f. said today it's in favor of a global minimum corporate tax us treasury secretary janet yellen has been calling for one especially to prevent corporate tax avoidance the idea is also finding supporters here in europe. the british virgin islands are highly prized by some corporations the ones that shift profits across national borders into shell

companies in order to pay hardly any taxes u.s. treasury secretary janet yellen proposal for a global minimum tax rate of 21 percent was aimed at these companies washington urgently needs additional revenue because the pandemic is costing billions the u.s. treasury loses nearly $50000000000.00 a year to tax cheats according to the advocacy group tax justice network germany comes in 2nd and france is also among the top losers no wonder yemen is finding support in europe. the u.s. treasury secretary janet yellen said yesterday that she's in favor of the worldwide minimum corporate tax write this is a matter that i thin working on for a very very long time. but let's take the american 21 percent and use it as a global minimum tax rate and these could fly and also and the business the tax havens oh side of europe as well as in your it's not only caribbean islands that

are among the world's most attractive tax havens e.u. members the netherlands and luxemburg are also among the top 10 and that's why e.u. parliamentarians like sudan gold are grateful for the support from washington this is the moment we were waiting for and we will take your 21 press send and we will support it as a basis for global deal if they make that move we have a chance that this will become policy very soon because the public budget you know everywhere globally we simply need the money. and so the pandemic could now make possible what seemed impossible for decades reclaiming huge amounts of tax revenue . now to some of the other global business stories making news. new zealand is opening a travel bubble with australia the 2 countries residents can travel without

quarantine from april 19th more than a year after new zealand closed its borders to curb the coronavirus the country's tourism sector estimates the bubble will bring around $705000000.00 u.s. dollars in business. france will give 4000000000 euros in aid to air france calum to try and keep the company aloft during the pandemic that will double the french government stake in the carrier to almost 30 percent make it the airline's biggest shareholder u.s. authorities have approved the move. google will stop using software from oracle to manage its internal finances it is switching to germany's software giant s a p that's a blow to the silicon valley based software giant google's decision isn't thought to be tied to its long running legal battle with oracle s a p shares rose more than 4 percent on the news. to key credit suisse executives are leaving amid the meltdown of the american arcade goes hedge fund the

swiss bank was invested in that drastic action comes as the lender of a $4700000000.00 loss from the implosion. well facial recognition technology has made contact less payment easier and russian supermarkets but there are activists warn against trading privacy for. your ear shadow by shopping and moscow cash cards and cell phones so yesterday today is a blink of a camera lens is all it takes and under the tap a spate of face i did acknowledge is now operating in the around 50 of the x. 5 retail group's moscow supermarkets. we want to make it convenient for customers they save time and don't need to get out there for a wallet just press a button the system their face and they can go quickly or sister my. cellphone or facial recognition payment is only available to customers who have

accounts with a major russian bank and i think that they have to provide to the bank with their a biometric data once studied by a credit card institute shows 70 percent of russians would be willing to use of the technology once they've heard about it. never heard of it before and if you would you do it why not maybe. i don't know are you ready for this not yet the students are now they're going to recognize our faces to grangeville have to get used to that. facial recognition technology is already a part of everyday life from moscow more than 170000 cameras register and regulate to public life half of them without a face i.d. while it's a blessing for police officers it's a curse for data protection advocates convenience or data protection which is more important in russia to fear of mass surveillance and to the misuse of personal data

is growing despite the conforti technical progress offers. privacy. activist. campaigns against the use of facial recognition and is critical of russian law she says as they are too vacant to don't protect personal data well enough though paul has even sued to the moscow city government without success much of. our biometric data is part of our private lives which no one is allowed to enter with their dirty shoes once it's deposited you can never get rid of this data your voice your gate in your face that's data that accompanies us throughout our lives. that became apparent to during recent opposition protests hundreds in the gulf in an authorized demonstrations over the last few months have been subsequently investigated and punished by police in moscow. to dot the protection arguments

haven't convinced software developers as they're currently on the lies in customer reactions to the technology. to lead to install facial recognition cameras in more than $6000.00 self-service terminals across russia. and that's it from us thanks for watching. the fight against the corona virus pandemic. has the rate of infection been developing what does the latest research say. information and context the coronavirus update 19. next on t w. w's crime fighters are back africa's most successful radio drama series continues. this season the stories focus on hate

speech prevention and sustainable charcoal production. all of the sos are available online and of course you can share and discuss on the. because facebook page and other social media platforms. crime fighters now. get. the problem of society we have at the moment is every one of the great of making a mistake what may happen if we don't do. the pandemic has changed life as we know it. but what comes next.