region if you look at jamaica comes in second place for caribbean countries as far as debt to g.d.p. ratio it's in a far second place but it's still in second place it's been in the financial fiscal crisis for at least a decade for decades you know so the question must be asked when you look at how these countries are run is it because of gross incompetence that you have the issues going on in barbados today you know prime minister monti was voted in in a general election just last month you know so she's taken on a lot and i think you know you have to ask yourself are these. countries and what they're proposing to fix their economies is what's good for the country necessarily good for the people and vice versa there's many places in the world that actually fight actively fight to is not that's not an option for barbados is it i mean barbados has a very strong tourism product you know barbados and its beaches are known worldwide from north america to the e.u. so i don't necessarily think that it's fighting tourism you know i think that tours zone is definitely of an avenue that the country

is it your contention that you're so keen to think about the debt to g.d.p. ratio because without the e.u. membership or without close ties the e.u. italian bonds is they will be able to borrow any more of the bond market i mean again with such a high debt to g.d.p. ratio we are not talking about the fiscal rules in brussels all by the way the fiscal rules domestically because keep in mind that italy has a balanced budget rule in the constitution and according to the technical situation you cannot spend money if it's not properly financed so it is embedded in the constitution it's never been taken heed of ever as it i think at least at face value oh it was respected so far has been respected ok with a lot of flexibility with a lot of special clothes or so for but there has been respect if you deliberately go against that i think you will run into trouble because effectively again it's not about rules is about financial markets was going to give you the money was going to finance the economy who was going to buy the bonds you see five louis de milo as multitool that

caribbean island nation of barbados is drowning in debt it has the world full of highs that to g.d.p. ratio behind japan greece and sudan now the i.m.f. stepping in to get barbados back on track the new prime minister be a monthly recently announced the country had undisclosed liabilities raising its overall debt from one hundred thirty seven percent of g.d.p. to over one hundred seventy five mostly have no choice but to contact the i m f well the fund is acknowledged would assist the ailing economy with an emergency debt restructuring plan abate us then suspended payments to external creditors to regroup the island owes two thirds of its debt to local investors a bank some tough debt restructuring measures is required without endangering its domestic financial system motley says her government wants to protect its most vulnerable citizens as well as business sector is crucial to growth officials used to consider barbados one of the better fiscally run countries of the caribbean a mine is a journalist from the region i asked him how did it got so high to be fair you know prime minister mali

it's time to go to barbados a place drowning in debt right now the world's fourth highest debt to g.d.p. ratio behind japan greece and sudan now the i.m.f. is stepping in to get back in the black and you prime minister mia mostly recently announcing the country had undisclosed liabilities raising its overall debt from one hundred thirty seven percent of gross domestic product to one hundred seventy five they had no choice but to contact the financial life gods at the international monetary fund the i.m.f. signaling it would assist the ailing economy with an emergency debt restructuring plan abate us then suspended payments to external creditors to regroup the island owes two thirds of its day to local investors and banks some tough debt restructuring measures are required without endangering its domestic financial system now molly says her government wants to protect his most vulnerable citizens as well as business sector is critical to the nation's growth let's get some analysis on this from great miners he's a journalist from the region great when we hear bob vega as we think about yachts ch

economy and seventy nine percent of our exports goes to the european union we have an export over g.d.p. ratio around ninety percent so you can imagine how significant for us it is european union to be stronger and european union to have a competitive economy on the other hand when it comes to europe in the funds yes your funds play an important role in our economy but this is not the one on the road because we don't get these funds as as gift or as a humanitarian aid or as a donation from our best or near opium friends these. funds are to be given to us based on contracts based on concerts in the wife because the hunger and economy has been opened the hungary a market has been opened for western european companies making a lot of profit on the hunger market this is one lane of the road and the other lane of the road is a european funding so so this is this is not a not the one way road you understand this is a wise versa situation so we we totally reject that false context so we painted up on the wall as if we will go only joy european funds for free this is and this is not true we have we ha

wanted it to be that is it using the debt g.d.p. ratio from ninety six percent to about seventy five percent in two thousand and twenty one the proposed income tax law would that would have probably led to a decrease in government revenues are nothing prison because. everybody has been paying more taxes less exposed to less subsidies much more fees that have been injected by the previous government into the water prices. energy prices electricity prices and saw everybody's feeling the pinch and many jordanian families have been exposed to strain gente budgetary conditions within their own so the question that jordin a people were asking how much does my going to stay in my own budget. in order to save the fisc up budget we know that we need to restructuring but that restructuring takes some time this is not the right time to do it. at this particular stage it is much easier said than done but we need time and time you know that we wanted to buy that time. in order to make sure that we use your right recipe it will him in the states where

have more money coming into the budget the debt has to about forty billion dollars the debt to g.d.p. ratio is at ninety five percent so the reason that the jordanian government backed by the international monetary fund has increased taxes because this current situation is unstable if jordan removes the prime minister this deep seated economic wars are going to continue therefore there are no easy fixes and this situation is going to be very dangerous in the coming days if not weeks. lots more still ahead on the bulletin hacking the conference news agency new information about how big a role saudi arabia played in the cybercrime that led to the gulf crisis. am to the naming tower of baghdad course repair iraq's crumbling heritage are being ignored. and that sounds great but when. the weather sponsored by qatar airways hello there we're seeing lots of cloud at the moment over parts of the middle east we can see a whole trail of it from parts of iraq and iran stretching all the way out to work its way of attash can and into el monte as well so we'll see if you outbreaks of rain from that is s

to change its own model what we are asking them that instead of decreasing the debt g.d.p. ratio from ninety six percent to seventy seven percent by the end of two thousand and twenty one to make of that in two thousand and twenty three now that would be tenable if we really begin to create good off if we grow the denominator which is the g.d.p. is going to grow and therefore the percentage of if we manage to maintain deficit as it is then we can cause a decrease a percentage of the crease in this issue and so this is the only approach you have to do and that requires a very strong effort on the part of the jordanian government part of the job in the people and the private sector and you have to engage the whole population because this is how you create synergy in the society you restore the spirit people are over exhausted from taxes and they cannot take it anymore but if you really address them feel that you are in prophetic with them they will begin to respond to your policies otherwise we would continue to do the same using the same ingredients using the same process and hopi

have more money coming into the budget the debt has by to about forty billion dollars the debt to g.d.p. ratio is at ninety five percent so the reason that the jordanian government backed by the international monetary fund has increased taxes because this current situation is unstable if jordan removes the prime minister this deep seated economic wars are going to continue therefore there are no easy fixes and this situation is going to be very dangerous in the coming days if not weeks. to take you now a president of the law has held a massive election campaign valley and the predominantly kurdish city of the he's trying to win support from an ethnic community that the government has been at odds with as he said the turkish state also belongs to could see them closely on his reports from the out of pocket she threw out a very good or turkey's present address is an election rally in the south the sin city known to be as a kurdish heartland he made it clear that no one should see an independent state. all citizens including kurds are assured by the ticket for public other demands should be legit

caribbean island nation of barbados is drowning in debt it has the world's fourth highest state to g.d.p. ratio behind japan greece and sudan now the i.m.f. is stepping in to get barbados back in the black the new prime minister mia motley recently announced undisclosed liabilities raising state debt from one hundred thirty seven percent to one hundred and seventy five well they had no choice but to contact the financial life gods of the international monetary fund the i.m.f. signaling it would assist the ailing economy with an emergency debt restructuring plan but bales then suspended payments to external creditors to regroup the island owes two thirds of its state to local investors and banks some tough debt restructuring measures are required without endangering its domestic financial system although he says the government wants to protect bombadil says most vulnerable citizens as well as business sectors critical to the nation's growth officials used to consider barbados one of the better fiscally run countries of the caribbean grey mine is a journalist from the region i asked him how did i

to change its own model what we are asking them that instead of decreasing the debt g.d.p. ratio from ninety six percent to seventy seven percent by the end of two thousand and twenty one to make of that in two thousand and twenty three now that would be tenable if we really begin to create good off if we grow the denominator which is the g.d.p. is going to grow and therefore the percentage of we manage to maintain deficit as it is then we can cause a decrease a percentage of the crease in this issue and so this is the only approach you have to do and that requires a very strong effort on the part of the jordanian government part of the job in a people and the private sector and you have to engage the whole population because this is how you create synergy in the society you restore the spirit people are over exhausted from taxes and they cannot take it anymore but if you really address them feel that you are in prophetic with them they will begin to respond to your policies otherwise we would continue to do the same using the same ingredients using the same process and hoping to

wanted it to be that is it using the debt g.d.p. ratio from ninety six percent to about seventy five percent in two thousand and twenty one the proposed income tax law would that would have probably led to a decrease in government revenues are nothing crees and because. everybody has been paying more taxes less exposed to less subsidy is much more fees that have been injected by the previous government into the water prices. energy prices electricity prices and saw everybody's feeling the pinch and there are many jordanian families who have been exposed to strain gente budgetary conditions within their own so the question that jordin and people were asking how much does my going to stay in my own budget. in order to save the fisc up budget we know that we need to restructuring but that restructuring takes some time this is not the right time to do it. at this particular stage it is much easier said than done but we need time and time you know that we wanted to buy that time. and order to make sure that we use your right recipe it will him

more money coming into the budget the debt has spiked to about forty billion dollars the debt to g.d.p. ratio is at ninety five percent so the reason that the jordanian government backed by the international monetary fund has increased taxes because this current situation is unstable if jordan removes the prime minister the deep seated economic woes are going to continue therefore there are no easy fixes and this situation is going to be very dangerous in the coming days if not weeks then my good thank you for talking to al-jazeera. now insulting and unacceptable that south canada's prime minister just introduced described the new u.s. tariffs on steel and aluminum imports president donald trump invoked national security concerns as justification for the towers which is also imposed on metal imports from mexico and the european union canada plans to impose reciprocal measures on its southern neighbor. first of all we're putting the same kinds of tariffs exactly on steel and aluminum coming from the united states into canada to be directly reciprocal but we are also putting a number of tariffs

different allocations are and doing a lot of reviews of that and checking to see what the debt-to-g.d.p. ratio is going to be and how much the debt limit is going to go up which becomes a whole other subject of debate. but if that were the debt control committee, all of that could be done in committee with one approval here on the floor. now, the other half of that suggestion is the appropriations committee ought to be called the budget committee because they really are the ones in control of the spending, in control of the budget. in every state in the nation, the committee that actually does the appropriations is the budget committee. and that would stop the flood of people that come in right after the president's budget comes out and before the senate budget committee does their work where they think they have to come in and ask for the detail on their expenditure at that time. if it was the debt control committee, they'd have a whole different perspective on what it was that that committee is trying to do, and they would take their suggestions to the appropriate committee which would be th

fascinating question, because we just had some surprising revisions to the ratio of taxable labor compensation to overall g.d.p. host: explain that a little bit. guest: what it means is that relative to the size of our economy, there was a smaller tax base for social security and medicare than the trustees previously thought lfs going to be. now, we don't know why that is, but, you know, certainly it suggests that less of our national economic output is emerging on our balance sheets in the form of payroll tax revenue paid to social security and medicare than we previously thought. and we don't know why that is the case, and certainly we should be trying to find out why that is. and if for whatever reason -- host: do you think the gig economy is part of that? guest: i have no reason to believe it is, but it's certainly the case that we're collecting less payroll tax revenue than we anticipated. guest: i think linda really put an interesting issue here on the table, but i guess i don't spend sleepless nights worrying about this, because if you think the big players in the g economy, lyft, uber, airbnb, the way

fascinating question, because we just had some surprising revisions to the ratio of taxable labor compensation to overall g.d.pst: explain that a little bit. guest: what it means is that relative to the size of our economy, there was a smaller tax base for social security and medicare than the trustees previously thought lfs going to be. now, we don't know why that is, but, you know, certainly it suggests that less of our national economic output is emerging on our balance sheets in the form of payroll tax revenue paid to social security and medicare than we previously thought. and we don't know why that is the case, and certainly we should be trying to find out why that is. and if for whatever reason -- host: do you think the gig economy is part of that? guest: i have no reason to believe it is, but it's certainly the case that we're collecting less payroll tax revenue than we anticipated. guest: i think linda really put an interesting issue here on the table, but i guess i don't spend sleepless nights worrying about this, because if you think the big players in the g economy, lyft, uber, airbnb, the way they