hello, welcome to the show i'm seeing busy in berlin. could have you with us. we begin to sri lanka where the country's new prime minister, renelle victrum, a singer says the country desperately need $75000000.00 within the next few days. just to afford a central imports, including medicine and fuel. he won as re, laga, had enough petrol stocks for just a single day. but she loggins have already been facing our times sri lanka, economic woes, a hitting every one hard most noticeably in food and fuel, petrol shortages mean, rick shaw driver's face. long queues to fill up fast struggling to make ends meet. we are guarded mirror. i don't have much fuel in my ritual. i've already been to 3 petrol stations, but there was no fuel in any of them, even though they have some here at this station. the queue is too long. the resignation of prime minister roger pack, so last week was not enough to quell the protests. his brother remains president,

despite being mired in corruption allegations appointed last week. the new p. m is now attempting to calm a furious nation, announcing measures to stop a total economic collapse. but those came with a die a warning. yes, even what we did him out at the the next couple of months will be the most difficult ones of our lives and we must prepare ourselves to make some sacrifices and faced the challenges of this period. kappa. we may, mona dear, you be many sri lankan are already making difficult sacrifices. we go, how will we manage without fueling all the vehicles here? we don't have any work. now, this is our only job these days. there's nothing else to do. reforms or on the way, but it could take more than an improvement in food and fuel supplies. i could even take the departure of the president to satisfy sri lankan calling for change. oh, but you're so t serve on a more to is the founder and executive director of the center for policy

alternatives in colombo, pocky. so to thank you for joining us. the people, sri lanka are being asked to make further sacrifices by their new prime minister. to what extent are they willing well, this remains to be seen. i think, you know, if the prime minister and the government continuously speaks to the country and explains to them why we've got ourselves in this situation and what we need to get out of it. that i think there won't be so much of fare and rest or disturbance in responding to the difficulties of the economic situation. but as the other dimension, and that is the political one, i think there will be of unrest. and the protest as will continue if the political reforms are not addressed as well, with those political reforms include the president leaving office. do you think, do you expect that to be a demands that will have to be met in a, in the days ahead? well, something has to be done with regard to responding to that core demand and persistent demand of the demonstrators. perhaps a time frame has to reset,

the executive presidency has to be abolished. and also a definite deck for a new election have also up to be muted. how did it get to a point where according to the new prime minister, there's a single days worth of petrol left in the country? how did it get that far? why we're no appeals made earlier for support or worthy? well i think it's because of the incompetence and capacity got them on the part of the raj box of regina. they used up all our foreign exchange reserves in terms of paying credits as an international bomb holders. and as a consequence, we didn't have any foreign exchange to get the bad essentials in terms of food, food. what does this mean for those on the ground, for the, for people and how they're living, how bad is the situation? can they still afford food, for example, across seattle? it's an unprecedentedly bad situation. it's the worst that this country has ever face. that a people who don't have 3 square meals a day, a day's,

a shortage of drugs that are constantly standing in queues for fuel and for gas. so it's very, very grip. and as the prime minister said, it's going to get worse. the prime minister also said that they need $75000000.00 in the next few days. where's that money going to come from? well, hopefully the money will come from ah, friends. in that in gaze one, japan is another. we have to get the bridging funds in order to tie dash over the period before the i left deal kicks in, if it is going to pick it right pocket. so to serve on a motor with a center for policy alternatives. in colombo, it's a capital sri lanka. thank you very much. and out of some of the other global business stories making headlines, shares of india's life insurance corporation dropped more than 8 percent on their 1st day of trading in the us biggest ever. i. p. o is part of an effort by prime minister in orange remote to sell off state assets in order to monetize

nationalized companies. for the fiscal deficit of more than $200000000.00. full automates lensky says his country is facing a monthly $5000000000.00 budget deficit due to war related costs. ukrainian president brought up the spinning squeeze during a video conference with the international monetary fun saying afterwards. he's looking forward to working with the i enough to maintain ukraine's financial stability class. the academic picture in the you isn't pretty. 20. $22.00 was supposed to be a year of recovery from the pandemic. now, the u. s. flirting with recession. the latest number shows gross domestic product in the euro area. that is the 19 countries that use the euro currency has grown by meagre 3 tenths of a percent in the 1st quarter. and it's after rise of half percent the previous quarter. look back in the past 2 years tells the whole story. with crone of ours pandemic hitting the ease economy hard early in 2020,

causing g d p to fall steeply. then came the slow start of recovery, which itself was stopped in its tracks by war. and that's helped further drive up energy and food prices. a china is 0. coven policy has exactly helped. it's force businesses there to shudder for weeks. some of those closures absence ended, but they're deepening the supply problems in europe and in other parts of the world . are at hawkish meeting as chief economists at b and bag bank. he joins me now for more. holger, good to have you on the show. what is the danger of recession in europe? is that realistic? well, the recession is not likely. it is a risk, but more likely we will stay in sort of speculation for a little while sex age means hardly any growth and very high inflation. the recession is possible. if, for instance, there was another for such as even worse and the supply chain issues with china, or if europe indeed seizes to get any natural gas from russia,

then we will be talking the session for now we are looking at sex lation with a good chance that the, some of the city does not make a major difference. what we are looking for signs of hope is how this situation in china is evolving. hopefully not getting much worse, and also with energy prices finally stabilize. that would be good. but for now, it's too early to say we should be optimistic. the next few months will be spec patient. and over the summer, hopefully things could get a little bit. all right, hold this meeting, chief economist, a bag bank. thank you very much. a germany will end its importance of russian cold the summer if everything runs according to plan replacing the fuel means looking elsewhere, including as far away as columbia. our next report shows us the cost of coal mining on local residents, health and on their land. louise's can breathe more easily, the 8 year old has more strength and will to learn. his mother says the only option

they had left to improve his health was to leave their home village of province. young lady emma. they look at me as well as the others. it all began when he was 8 months old. laughs, abide by the laws and the thresholds and reduce dust. german coal buyers also support said a horn human rights activists demand, and they should finally apply more pressure vignettes, if coal imports from germany now increased than we fear that indigenous people in columbia will pay for prudence. war and ukraine will unit song, van luce audrianna, shows us where her house used to be and proven, see out the explosions caused cracks to form until the house collapsed. another reason why she continues to get involved said a home may have taken away her home, but not her fighting spirit. and here's a reminder of our top business stores. is relocked, desperately need $75000000.00 within the next few days to afford a central imports, including medicine fuel. that's according to the country's new prime minister renelle wicker. i'm a senior. he warns the sri lanka had enough petrol stalks for just

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