said injune has already been agreed and the imf said in june this has already been agreed and the imfyear, we will give you that funding, obviously they say they need it now, argentina, is it enough, do they need more? depends what you mean by enough, it won't protect them from the collapse in investor confidence. it has lots of debts as you mentioned in the briefing, in particular are nominated in foreign currency, so that means the of the debt goes up, which is the key problem, so i don't think it will instantly them from a colla pse think it will instantly them from a collapse in investor confidence, which is what the government has to maintain. so what's your outlook? we have quite a deep recession this year and possibly small growth next year and possibly small growth next year but inflation will rise, perhaps reaching 50% year on year, interest rates will be high, there will be more pain before there is any gain. which feels, as you say, the election next year, political instability in the run—up to the election. exactly, slow growth and a recession ahead of an election is bad n

let's begin with the imf. a new agreement with the imf. an agreement of $50 billion program. size and the in timing we achieved. erik: what is the new agreement? >> we look forward to giving more certainty to the financial problem of argentina. erik: what does that mean? more money? >> we have more support. erik: how much more? >> i cannot say because we are still negotiating. that would bring more confidence to the market. at the same time, we are committed. the plan we had was five years to achieve a balance. our public accounts would be done next year. we are doing a huge effort. erik: mr. president, you want to avoid what happened on august 29 happening again. you went on national television and told argentines you had an for thet with the imf accelerated disbursement of funds. it turns out there was not an agreement and now we are talking about a new agreement and we have not heard anything from them. are you absolutely for the accelerated disbursement certaie imf will give you more money and it will give you the money on a faster tim

in 2017, the imf was welcoming progress on those brexit negotiations. that the no—deal option is even on the table. six months to go, and the uk still has a lot of brexit homework to do, the imf said — no sign, as far as that economic body is concerned, of as yet any brexit dividend. kamal ahmed, bbc news. 0ur political editor, laura kuenssberg, is at westminster. you can have the choice outlined by the prime minister today can be as she suggested? there are good political reasons for the prime minister is to say so. she wants her tactic to be crystal clear, to say to her mps who might be thinking about rejecting the deal the message, vote me down if you dare. as ever with brexit the situation might not be that straightforward. if brexiteers do everything in their power to make life harderfor her, she might have to budge off her existing plan, it might not be the final shape of the deal. 0n the other side, former remainers in the commons and house of lords might have another go at softening the government position in the coming weeks. and of course, mor

the imf said a wea ker would be horrifying. pound had helped exit exports and others said a close deal could see an economic boost. towards the end of the year i think everyone would be very pleased if the november inflation report and we adjusted our assumption because we knew what the agreement was for the end state. six months to go and the uk still has a lot of brexit homework to do, the imf said. no sign, as faras homework to do, the imf said. no sign, as far as that economic body is concerned, as as yet, any brexit dividend. our political editor laura kuenssberg is in westminsterfor us. six months to go this week. until we leave the eu, brexit, what is the prospect of a deal? well, a deal is pretty likely, both eu and the uk wa nt to pretty likely, both eu and the uk want to make it happen. they believe that by grinding through talks in the next couple of months, in the middle, towards the end of november, the eu leaders will, together, be able to strike some kind of agreement. even that it is not inevitable. the second q

in 2017, the imf was welcoming progress on those brexit negotiations. that the no—deal option is even on the table. six months to go, and the uk still has a lot of brexit homework to do, the imf said — no sign, as far as that economic body is concerned, of as yet any brexit dividend. kamal ahmed, bbc news. a conservative mp tobias ellwood has told the inquests into the victims of the westminster bridge attack how he fought to save the life of pc keith palmer, who had been stabbed outside parliament. the officer and four other people who were run over by khalid masood died after the attack in march last year. our home affairs correspondent daniel sandford reports. the photographs of the minister, tobias ellwood, helping in the desperate efforts to save pc keith palmer's life became some of the defining images of last year's westminster attack. today he arrived at pc palmer's inquest to give his official account of that traumatic day. he described the panic inside parliament, with people shouting "go back" as he went forward, and how he walked past a line

and we have not heard anything with the imf.tain imf will give you more money and will give it to you on a faster timetable? close tori: we have final agreements. programl benefit the and will benefit argentina. erik: every single dollar counts. there are some people who will say if you get $5 billion in additional funding from the imf, that isn't enough. meetif you are going to the principal and interest payments next year, $24 billion, you are going to need $10 million or $50 million more, which is a, five or 15? pres. macri: in a couple of days, you will know. i am confident that will be something that will be guaranteed and will find room for new relations with the will establish of economy after the process some more months of recession, we will start growing again with inflation, and allowing you investors to come partner with agribusiness, and it will be a great opportunity. erik: given the pace at which things have deteriorated over the past five months, is a difficult to predict with any confidence what will happen in 2

with the help of the imf.ven with imf help, things have gone awry here at what does argentina or the imf need to do in their roach to set things right again #>> we will hear few hours between imf and argentina plus discussions. the problem is the normal medicine the imf would dole out and, a willing and minister of the imf program happily put out is risk killing the patient's. risk killing chances of bringingn next year, those of the left back and stuffing out economic growth. are the reasons they need to think a lot more creatively on the imf side because if there is any feeling that the conclusion of the talks will be anti-populist or antigrowth, denmark is that would normally take that as a positive signal will act very negatively. a than the risk that we have very negativeon the imf side bee is any feeling that results comn the next few months and into the next year as his election here given us his of argentina in terms of the imf's very long troubled patients in the contagion risk from argentina, much mo

. >> next to argentina where the president says they will get more help from the imf. talks withment is in the imf over eating speedier access to the 50 million -- over getting speedier access. the measures are deeply unpopular in argentina. the general strike is being held this tuesday. many public services have been shut down. shutdown's.pected hundreds marched the streets of one of sarah's on monday -- of when i was there is on monday -- >> everything he does, he has to consult with the imf. >> because it governments for the rich while killing the poor. we do not have education and we do not have health care. >> we are against the adjustment of the imf as teachers are fighting for more budget funds. >> just to wrap up, some bad news for drivers of ride hailing services, they are earning around half of what they did five years ago. >> this is according to a study of the jpmorgan institute. they found that monthly earnings for 4.3 million fell by more than half between 2013 and 2017. that is an average income -- the study also found that people using apps where you re

i was told the imf might be able the nexttability in few days.ability for those in the street and for those in the market? >> we are seeing trade with low liquidity. definitely, the market will be looking to see what tomorrow's reflection on the currency is. see thather hand, we the peso may have overshot with weakening a bit last week. that may find stella stabilization. it is possible they will remain at these levels and we may seek a stronger reaction tomorrow. is it likehat i for you and those who are working with high inflation and weakening in the current the? impact andving an economic change. businesses whol do not know what exchange rates import or export goods. they are trying to figure out the month with stable exchange rates. the same goes for argentinians who are planning trips or looking to go abroad who now find that purchasing power has fallen dramatically. overall, we find the exchange rate is the main topic of conversation among families, and others. it is something people want to talk about and understand. that is why these kin

|j think between argentina and the imf?” think so. facing a credibility problem. they are not convincing the markets about their ability to meet their financing needs or on their debt. the way to go is just implement sharper fiscal adjustments. you make it sound so easy but it's not easy at all. for the president mauricio macri as well, he has an election next year and this is not a vote winner when you're trying to implement tough austerity measures and that kind of thing when you want another term in office. he's definitely facing a very complex environment, his approval ratings are already falling and this is a challenge for his presidency and his own political aspirations. but he has to decide whether he wants a healthy economy or a healthier presidency. briefly, how bad will it get before it gets better? we expect a recession in 03 for 04 and get before it gets better? we expect a recession in 03 for q4 and it will probably extend into next year so it will get worse before it gets any better. thank you very much indeed. thank you

the imf is more wondering about their ability to deliver. promises. the president has been meeting with many of the governors and doing all the political work but there will still be some time before he can get the budget approved in congress. meanwhile the imf is looking and has not yet official lies the deal. we talk about the problems of the argentine economy but how is this affecting regular people as they go about their family lives right now? well, it's incredible that we have been talking about argentina's economic crisis for so long and the country has not entered recession yet. it has a chronic problem of price and inflation and exchange rate. argentinians are allowed poor because when they travel abroad their money is not worth as much as it was before. they had not been losing jobs that much. they haven't been hit by a procession like brazil. and now that is about to happen. —— hit by recession. this year they‘ re happen. —— hit by recession. this year they're expected enter recession. things are looking bad and that things were s

and we have not heard anything from the imf. you certain that the imf will give you more money and it is going to give you that money on a faster timetable? >> [inaudible] close to final agreements. that will benefit the program and argentina. >> every single dollar counts. there are some people who will say if you get $5 billion in additional funding from the imf, that is not enough. if you are going to meet the principal and interest payments on your u.s. dollar denominated debt next year, 24 billion dollars, you're going to need $10 billion or $15 billion more amount is it five or 15? days you will of know. do not be so anxious. i am confident that it will be something that will guarantee and will find room for a new relationship with the markets and more stable terms and we will establish our economy after a process of some more months of recession. we will start growing again, reducing inflation, reducing taxes, and allowing new investors to come and partner with us in mining, it energy, agribusiness, there will be a great

the imf lines up more money to stave off a worsening economic crisis.nd financial markets in asia are mixed following the fed's decision to raise interest rates and signals more hikes to come. we start in italy today, where worries over the country's finances have been pushing up its borrowing costs on bond markets. in a few hours‘ time, the government will release its budget for next year — the first since the anti—establishment five star movement and right—wing the league formed a coalition government in june, with both parties making some expensive election promises. five star promised a "citizens‘ income" — essentially a basic income for the poor of around 780 euros a month. on wednesday, economy minister giovanni tria appeared to back the policy. he also said people would be able to retire earlier, to give the country a younger, more skilled workforce. the league promised tax cuts during the campaign. mr tria suggested these could also be on the way, starting with corporation taxes next year and extending to individuals in coming years. so how will

the imf have said things before and proved wrong, haven't they? that's right. gove referred to the experts a couple of his ago. jacob rees mogg is quoted in this article. he'll be expressing... he says nothing new. this doom laden forecast which is more political than economic. until we finally leave, that is the point. the salzburg meeting is a key one. the salzburg meeting is a key one. the big one is in november, the special meeting, after that a vote in parliament and maybe the government. on that bombshell, let's move government. on that bombshell, let's m ove o nto government. on that bombshell, let's move onto your paper. one in five britons harmed by internet. in what way? sharon white, the chief executive of ofcom, which is the regulator for broadcasters, including the bbc. well... a bit. her concern, reflected by 12 million britons, one in five of us, a lot of children and young people watch tv ona children and young people watch tv on a tablet or a phone and they don't differentiate between the bbc, itv, sky, the regulated and unregulated bids, it is

it's going to be hard for him to manage this, even with the help of the imf. avoid thatt going to trap. goes,we see how deep that you will see the same reaction in the fx market and the bond market. they got a little bit of a bounce this morning. there is a lot of risk aversion. story, respectd to currency as well as stocks. what is really happened in the last few months? emerging markets are really taken a pummeling. look at how difficult this has been for them. >> we had news out this morning that was unexpected with south africa moving into a recession. emerging markets are dealing with two problems. the existence of more tariffs and the rising interest rates we see from the u.s. and central banks in europe. investors areike in a position where they are seeing a contagion has happened. we are getting closer to the point where people are seeing the spread is coming. david: there are some idiosyncrasies and those countries. is there a common theme? the markets loan them a lot of dollars. ,ften short-term dollar debt when the dollar goes up, it's harder to rep

let me give you an alert from the imf and argentina.inister has declined to discuss any amounts they are currently talking about. but we do know the overall amount is at $50 billion. discussings we are monetary as well as fiscal policy. for sure, investors will be wondering what those amounts are and on what timeline they might be coming out. yvonne: the expectation is hopefully it can reach some kind of early release of that credit line approved earlier this year. he said discussions were continuing at a technical level at the common objective moment is for a rapid conclusion. hopefully we get more clarity and will bring you those once they come in. of course where counting down to major market opens in the asia-pacific. take a look at what we saw overnight. safed not see a lot of havens like treasuries and gold. looks like those contagion fears will continue. it has taken hold despite fundamentals. u.s. stocks catching it. emerging slipping to a may 2017 low. amid the selloff that are signs asia -- pacechart demonstrates the is tradin

another bailout deal with the imf, but what cost? this happened to a kayaker the other day, a slap in the face from a seal and an octopus. details coming up in the press review. first, our lives story -- top story live from paris. ♪ genie: first in the u.s., all eyes will be on washington this thursday where one of the three women accusing donald trump's supreme court nominee of sexual assault is set to testify before the senate. the stain blase held her down on a bed at a party when they were both teenagers. two other women have come arward, throwing into doubt nomination thought to be a sure thing. allison: hearingngs before t the u.s. senate were supposed to be a formality. brett kavanaugh was considered a shoo-in for the supreme court when donald trump named him to replace anthony kennedy in july. that changed when lawmakers heard the story of christine -- she said kavanaugh assaulted her, pinning her to a bed and holding her mouth so she could not scream. then a second allegation dating to kavanaugh's college years. his former y

the imf is expected to meet later thhs month to discuss the requestt alison sargent has ettils. hoping to see of payments from the imf come arggntina's finance minister haa been meeting with the international monetary fund's directtr. making progress on renegotiating the country's bailout program. approved before the end of the month. about how to continue advvncing. all of the support that the international community gave to us when we lose the agreeeent in june can materialize into an >>% in june the imf agreed to give argentina a loaa of $50 years. argentina has alrrady used its currency. as of the current timeline has% two smaller payments made on the horizon this year. in exchange for renegotiating president announced new austerity measures this week, cutting the number of overnment ministriessand half and restoring attacks on grain exports. >> i'm clear about anddwe are working on that. >> the center-riggt marie seo macri has gotten key support from donald trump. the nuggett states is the po approve any new agreement. >> back in france, the government haa confirmed it is p

imf is behind argentina. the u.s. is behind argentina and macquarie has broad international support. >> what type of support does he have and how much effort is he going to make to sway them? important toy remember that next year there's a presidential election in argentina associate's political capital is running low. his approval rating has hit its lowest mark since you came in to office. he only has about 40% control of congress in his political coalition. theeally needs to get socialist populist wing of the government to come over to the other side and agree to these extremelys which are painful. argentina is already on track for a recession this year. utility bills have risen 200%, 300% for some argentines. there is very low appetite in argentina for austerity and he is now trying to impose that at a factor pace. very difficult road ahead of him politically and the economy does not have a bright future ahead either. as we: the peso weakening are getting news that the argentine central bank held auctions. offering

they need emergency loan from the imf.l only give it to them if they raise taxes. i asked larry kudlow about that, they would rather deal with the u.s. treasury than the world bank or the imf. here is how he responded. >> the treasury is deeply involved in this discussion, deeply involved, which is a great thing. and, as you and i learn and others, only way out of the argentine dilemma, set up currency board, the peso links to the dollar but you can't create a single new peso. david: 20 seconds, is it better for argentina to work with the u.s. treasury than the imf? >> many sides to this. if you're from latin america you have a strong distaste for the imf, right? especially countries that had leftist governments like they had, and blame chavez all of those guys rose on the back of imf loans. for them to make a loan it is like a bad headache. it's a bad memory for most argentines. working with the u.s. is a little better. david: we have to leave it at that, vanessa. i'm so sorry. we have run out of time. i appreciate it. a

david: what is the difference with the imf? dr.gives them a short-term infusion that is paid back in a short period of time, cash related to policy changes. we do things like help countries build roads. we provide loans for roads. on the private sector side, we give loans to private sector companies working in poor countries. we have another part of the organization that literally invented political risk insurance. there is a much broader range of things we do, but of course we are much smaller than the imf. david: you focus on developing markets. developing markets have so much capital from private equity firms and sovereign wealth funds, is there a need for the world bank anymore? dr. kim: i don't think they need our capital, but they need our advice, and they need the capital in the form we can provide it. in a middle income country, if we can provide them a 25-30 year loan at 2.5% or 3%, there are not many countries that can go to the capital markets themselves and get a loan. they will also not get one where we come in and say

that is why the government is attempting to give a signal to the imf to advance all the funds neededor 2019 and 2020. and to give a clear signal that we have guaranteed funding for the next year and for 2020. the question then is whether those funds will be extended for 2020 one. -- for 2021. reporter: as public anger mounts, tuesday's strike could be just the beginning of a bigger wave of resistance against austerity. christoph: that is all your business for now. we are almost out of time. brent: we are out of time. thank you for the company. after a short break i'll be back to take you through the day. stick around for that. ♪ [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] twenty four this is from. i had to have. a different leading. the way when us us press donald on something saying. thank you. undermining international agreements on every every action coming coming up [inaudible] does the treasury with

david: what is the difference with the imf? dr.e imf gives them a short-term infusion that is paid back in a short period of time, cash related to policy changes. we do things like help countries build roads. we provide loans for roads. on the private sector side, we give loans to private sector companies working in poor countries. we have another part of the organization that literally invented political risk insurance. we are much smaller than the imf. david: you focus on developing markets. developing markets have so much capital from private equity firms and sovereign wealth funds, is there a need for the world bank anymore? dr. kim: i don't think they need our capital, but they need our advice, and they need to capital in the form they can provide it. if we can provide them a 25-30 year loan at 2.5% or 3%, there are not many countries that can go to the capital markets themselves and get a loan. they will also not get one where we say we will give you this loan, whether for a particular project or write to the government budge

we've been hearing from the imf and lots of economists and the imf and lots of economists and the chancellort happen? not necessarily because the way is being dealt with is quite pooh way is being dealt with is quite poor. got me to vote leave was the amount of money we would save every week that we could give to fund the nhs and things like that and how howard has been dealt with is overly and if! howard has been dealt with is overly and if i had the chance again, i would probably vote to remain. that is because of the has been handled rather than the issue itself? yes, definitely. what about you when you think about staying in the eu were leaving, what is it you focus on for your generation? i will be the first to admit that i don't know a lot about politics. i think the thing that concerns me primarily is not the biggest issue out there but what really concerns me a lot is that i voted to remain because a lot of what i saw online, there was a lot of sentiments surrounding the leave vote rs of sentiments surrounding the leave voters in particular that concerned me because they were not in

when argentina enters this deal with the imf, there is a cause, which is what they will discuss withthat will allow argentina to some degree to ring—fenced social spending. so the government needs to be very careful. it needs to get the economy back on track. at the same time, it can't afford social unrest, labour unrest, and negotiations with the unions in an electoral year next year. that is jimena blanco, a regular here, she is from argentina, and to clarify, head of america's at the risk management firm verity. now let's brief you on some other business stories. an american football star who sparked a furore by kneeling during the national anthem has been unveiled as the new face of a major advertising campaign. it's being reported that the former san francisco 49ers quarterback colin kaepernick will front nike's "just do it" 30th anniversary campaign. in 2016 kaepernick refused to stand for the anthem in protest at police violence against african—americans. we will be talking about that as well in the news briefing — that is coming up. throughout the week, we are looking at some

. -- imf. ramy: i am ramy inocencio in new york. golf.trumps mexico says canada must be in a post-nafta deal. china rebuffs criticism of the belt and road initiative. xi jinping says he's not interested in "vanity projects." yvonne: to start things off with breaking data in south korea. inflation numbers for the month of august, month on month-wise, ticking up. year on year, the 2% target. seen mixed signals where inflationary pressures are not there anymore. square that with some of the rebound we have seen in exports as well and we see that in these gdp numbers. ramy: taking a look at the gdp revised numbers, quarter on quarter, 0.6% according to -- that is against consensus, 7%, so just .1% missing that. against 2.9%ctual for the consensus survey. all right, off of those raking lines out of south korea, let's get you up to speed with what has been happening in currencies. in the united states, we are still on labor day holiday weekend. that's bring those up and talk been really a story about dollar strength as well as about crise

i was here for the 2017 imf report on the uk economy.e concerned about the possible costs of brexit. 2017, the imf was welcoming progress on those brexit negotiations. this year, real worry that the no deal option is even on the table. today, jaguar land rover said it would cut production because of headwinds affecting the car industry, days after its chief executive warned a no—deal brexit would be horrifying. the imf said a weaker pound had helped exit exports and others said a close deal could see an economic boost. towards the end of the year i think everyone would be very pleased if the november inflation report and we adjusted our assumption because we knew what the agreement was for the end state. six months to go and the uk still has a lot of brexit homework to do, the imf said. no sign, as far as that economic body is concerned, of as yet, any brexit dividend. and we'll find out how this story — and many others — are covered in tomorrow's front pages at 10:a0 and 11:15 this evening in the papers — our guests joining me tonight a

we have the head of the imf and the head of the bank of england.es saying that it will be bad. wea rer voices saying that it will be bad. wearer you are in terms of how bad it will be if things do not go well? many people are predicting a recession after the vote and that growth would slow and unemployment rise. but it was the near—term shocks to sentiment as a result of everybody going oh, this is happening and how will we deal with it? that article 50 period ends march 29 2019 and then the traditional arrangement, the bedrock forgetting things into order, it does not exist. there will be a lack of regulations, custom unions, lack of regulations, custom unions, lack of regulations, custom unions, lack of regulation for pharmaceuticals airlines finances, services. it all falls apart. one sector that is very exposed is the car manufacturing sector in the uk. jaguar is putting workers on a three—day week. this was a headline in the times that was announced yesterday. jaguar and others who have factories in the uk are very concerned. in the last three

. >> what's the difference between the world bank and the imf? >> what the imf does is comes in, in a situation where a country is in trouble, gives them a short-term infusion that is paid back in a relatively short period of time. it's really cash related to policy changes. we actually do things like help countries build roads. e provide specific loans for roads. the private sector side, we give loans directly to private-sector companies who are working in poor countries. we have another part of the organization that literally invented political risk insurance. there's a much broader range of things that we do at the world bank, but of course we're much smaller than the imf. >> so you focus on developing markets. but now the developing markets have so much capital coming in from private equity firms. is there a real need for the world bank any more? >> i don't think they necessarily need our capital but they certainly need our advice and they certainly need the capital in the form that we can provide it. for a middle income country if we can pro

the imf warned that 0.5% oraround global economy. warned that 0.5% or around $430 billion could be wiped off the global economy as a result of the trade war started by america but that was before president trump announced tariffs on another $200 billion worth of imports on the mainland. karishma, this is indeed a difficult time for us- this is indeed a difficult time for us— china trade relations. absolutely, and that is certainly the big topic of the day for many of the big topic of the day for many of the people who are attending the world economic forum here in tianjin. the announcement came about 1.5 hours ago and is kim pointed out, this is a serious escalation in the trade relationship between the us and china. 40% of chinese goods, all chinese goods sold to the united states, and if beijing retaliates, the us has said there is another $267 billion that it could place a tariff on. so what is china's view? i have got with me, from the chinese research institute, a state linked institution, one of the top think tax in the country

the imf are a lwa ys saying she is concerned. imf are always concerned about something, it is theirjob to be worried for eve ryo ne is theirjob to be worried for everyone else. this one is about the trade war in particular, and that she sees that affecting the global economy. and it is notjust the us and china, is it? the us and china is the headline, but it is the us and pretty much anyone else at does business with, and these tit—for—tat ta riffs business with, and these tit—for—tat tariffs are becoming such a big issue for the markets. and when you look at trade wars, no one really wins ina look at trade wars, no one really wins in a trade war, especially when you have two such superpowers like the us and china. the us but tariffs on one side, china on the other. that ends up increasing the prices of everything so it ends up costing jobs at the companies that produce the goods, and ends up costing the consumer more to buy the goods. so the consumer is the only people that really lose in trade wars in the end, but this is causi

or is it the government or the imf?s not part of the government right now? they say no one can govern argentina... part of the reason president macri is facing so much trouble is because he faces difficulties to negotiate with the opposition. the question is quite intelligent right now. how can a government function if it gets rid of ten ministries? they are going to become secretaries. they'll still have some budget and some things to do but it will be limited. i think the change in the cabinet is more symbolic and it's trying to show that the government is trying to slash as much as possible. on the other hand what they did was to put taxes on exports which in this country is one of the biggest food producers in the world is something that involves a lot of money. it's something many considered populist and something president macri didn't wa nt to and something president macri didn't want to do but now he's had to do it against his will. presumably some are concerned that if you put taxes on exports you risk slowing

officials will ask the imf for credit and terms. haslinda: and under siege, indonesia subset -- steps of report of the rupiah after a string of measures failed to stem the slide. david: this is how markets look across the region. equities in the middle, the lack of color essentially underscores the lack of risk appetite. the public comment period ends on thursday on potential tariffs, $200 billion, and jobs numbers on friday, which might just tell us the u.s. economy is doing well, which is why perhaps we get a slight tilt stronger on the u.s. dollar, all things equal. bond markets are feeling a little unloved at the moment. have a look at equity futures. long weekend in the u.s. happeningse really across a lot of these spaces. a thought of this comes back to, yeah, everything could change by the end of this week, or not. haslinda: well, speaking of unloved, emerging markets, in terms of assets, currency, stocks, they are down. em currencies, longest losing streak since 2015. em stocks slumping again. turkey, latest inflation sugges

bigger package for argentina from the imf, is it enough?years... there is always the possibility it is not, the president, orthodox western point of view, newjoint do the right things, the governor of the right things, the governor of the central bank has just resigned, clearly not desperately happy about what has been done, on the face of it, yes, drought is what has tipped them over the edge in the short term, so some rain would help but long—term, massively outspending what it owns, needs to find some way to square that circle, just like italy. 0r, to square that circle, just like italy. or, the uk, one might say, or america, next year, that is correct. the heat is on. if strikes go against him, it will be very difficult. are you a fan of virtual reality? people might suggest that my grip on reality is somewhat tenuous at the best of times. our north america technology reporter has been to facebook‘s launch, they have a virtual reality week and they have a virtual reality week and they have launched 0culus quest, the latest attempt to ma

meanwhile, the financial times leads with chancellor philip hammond's decision to back the imf warningk if it leaves the eu with no deal. the times writes that midwives are calling for pregnant women to be given official targets for how much weight they can gain during pregnancy, amid rising rates of obesity and concern of the impact on unborn children. 12 million people in britain have experienced harmful content or conduct on social media or the internet says the daily telegraph, citing research by the broadcasting watchdog 0fcom. severe weather and new timetables mean we've had the worst train delays for 12 years, says the metro. new figures revealed by the office of rail and road show that one in seven trains was late in the year to august, the worst on record since february 2006. the i also carries the story, saying that despite the delays, fares rose by more than 50% in the same period. days ago, a wide variety of headlines on the front pages but let's be honest brexit is never far away. the headline in your paper, hammond's support for imf‘s brexit warning risks number ten rift.

we are talking about a new agreement with the imf.olutely certain that the imf is going to give you more money is going to give you that money on a faster timetable? we are close to finding an agreement. program andfit the the benefit program will benefit argentina. there are some people who will say if you get $5 billion in additional funding, that's not enough. if you are going to meet the principal insurance payments on your u.s. to nominated debt is -- you are going to need 10 maybe $15 million more. which is it, five or 15? in a couple of days, you will know. it will beent something that will guarantee and will find room for a new relationship with the markets in more stable terms. economyestablish our and after summer months, we start going again, reduce inflation, reducing taxes and allowing investors to come partner with us. agribusiness,nd in tourism. it will be a great opportunity. given the pace things that generated, it's difficult to predict what is going to happen in 2019. what if even with additional funding you find yo

imf's christine lagarde said progress was made with argentinian leaders. following a selloff in the peso. >> we expect the deal will be signed in the second half of september. we need an agreement before that. >> european union officials exploring how to unlock a brexit deal. learned that eu accepts eight earlier version of the plan was heavy-handed to the source suggested, the willingness to be flexible lies behind a request to be more flexible. japan, regionals -- regions around osaka struggling to recover from damage from a typhoon. that is the airport remains shut. the strongest tropical cyclone in 25 years. -- tanker smashed into global news, 24 hours a day. this is bloomberg. >> thank you. in singapore. now to the subject of trade. prime minister says his government will remain steadfast on some key issues. he says he prefers to see the current pact killed rather than accepting a bad deal. seniorning us is the international editor. where do we stand? where do things stand in the talks? replacing nafta, including all three countries? >> the parties ar

place between the imf chief and% thh country's fiiaace minister. they are gging to be discussing their rrquest to speed up payments for the billion dollar bailout. the imf says when azeeis has the full support and ttey are working on -- ayy when osiris has full support -- the peso stance 50% against the dollar.. we have not seen much movement yet as u.s. markets et underway. we may see the peso trengthened against the dollar. along the measures announced, a controversial tax on exports that could hurt farmers. the president admitted himself that it is a bad tax.. those whogoinn to ask have more to contribute. i'm referrrng to those who export and argentina. in -- in argentina.% tax that goesad against what we want to promote, which are more exports. i have to ask you to understand that his is n emergency. we nned your support. >> here is what is happening on the markees. europe starting the day up share. when on. a jumppr in shares for the french telecom group. results showwng a rop in subscribers. their share price is getting a we'll check in with

they get more money from the imf. the imf lead said they stand by argentina.rgentinian deal has significant frontloading and the deal should help restore confidence across the markets. we will see how the markets react tomorrow. this is bloomberg. ♪ caroline: we take you back to another big conversation from the big this -- bigness -- business forum. bringing talk about more mainstream. >> there was 25 million assets falling to this exposure. the task force says this is how we should do this. now it is 100 trillion. three quarters of the global stomach bank, major sovereign wealth funds, looking for this type of information. now i think what happens is the private sector does what it does best. companies are starting to disclose the providers of capital. they focus on what is useful and you get the cycle of better and better disclosure, better capital disclosure. >> what are the frictions you are feeling people do not want to disclose? companies the best have fought a range of geographies. part of what came out today is a survey of the top countries -- compani

i know some of the people in the federal government, they hate imf's medicine, they actually hate imfst, they would rather much be dealing with the u.s. treasury in some form, is there any chance that that could happen? >> yes, the treasury is deeply involved in this discussion, deeply involved which is a great thing and as you and i learned and others, the only way out of argentina's dilemma is to set up currency board, the peso links to the dollar but you can create a single new peso, no money creation unless you have a dollar reserve behind it. that worked in the 90's, it brought down inflation and prosperity, that's what they need to do it again and you know what, treasury department people are on it. they are on it, david. keep hope alive. david: there's hope for argentina. great to see you doing so well, god bless you and god bless your heart, i know you had a little issue but it's all over now. >> appreciate it. david: appreciate it. amid accusations of anticompetitive behavior and political bias twitter and facebook executives face grilling on capitol hill so can government re

but she says the staff at the imf do not see contagion spreading yet. are you on the same page?y, the fact that it is tightening. that is causing problems in certain countries with high twin deficits, as well as high external debts. turkey being one of them, argentina being the other. we do think it is somewhat particular to these countries. ijust want do think it is somewhat particular to these countries. i just want to get your thoughts, it has been ten yea rs get your thoughts, it has been ten years since the global financial crisis. you were working at lehman brothers at the time. what is your experience and how other —— has it affected you? it came as a real shock to me. you know, ifound it a very enriching experience to work at liman andi very enriching experience to work at liman and i thought that there would be some kind of rescue package. it was shocked when i got the news. i maybe more resilient in a way. what happened immediately afterwards? the pa rt happened immediately afterwards? the part i was in, i escaped bankruptcy ina way, part i was in, i escaped bankruptcy

the president tells bloomberg the imf report is key.ade, politics once again weighing on stocks. last week's rally fading a bit. rishaad: breaking news. yvonne: the instagram cofounders have stepped down according to the "new york times," perhaps a challenger for mark zuckerberg. rishaad: facebook does own instagram and instagram is one of the profit drivers. that is something which american investors will be digesting later on. let's have a look at the news in asia. this is the nikkei 225 off the highs of the day even though it is still early, just 0.1%. composite, we are seeing this -- the losses th

we talk about former representative to the imf. that's next.s is bloomberg. ♪ guy: decades of abuse. donald trump slams canada as trade talks all. also skip to key asian summits later this year. inflation in turkey rises again. in em currencies continues with the south african rand and the lira compounding losses. after the threat of a ratings downgrade, italy finance ministers promised the budget will calm. will markets and investors listen to that? welcome. i'm guy johnson. this is the european open. preparing for a 10 year anniversary lehman coverage. i am joined by anna edwards. minutes into the trading day here. it's have a look at where we are. the cx him offshore. it provides services to the oil and gas industry. they settled a case in brazil and that is being seen as a positive. jama holdings in switzerland has been a big fall or. we talked about many signs and it seems to be bouncing up by over 5%. you see a number of italian banks as well also making moves. at the bottom of the screen, we have some pharmaceutical businesses. that is t