host: the imf has chastised the u.k.overnment after its financial plans triggered chaos in the markets. the budget revealed last month has sent the value of british pound to all-time lows. more than 500 people have died in nigeria's worst flood in decades. you can usually heavy rains led to the destruction of tens of thousands of homes. the u.n.'s yemen envoy is calling on parties to renew their cease-fire. he blamed rebels for failure to extend the truce. there is been a decrease in violence before the april cease-fire deal last earlier this month. >> voters have a choice before them. they can take the path toward these -- peace as it expected from them by the yemeni population. a return to war would mean renewed and increasing suffering or the population. host: iraq's parliament as elected a new president. the appointment of the 78-year-old kurdish politician ends months of political deadlock and heightened instability. during -- a jury in the u.s. state of florida as recommended life without the possibly of parole for

this is why we are seeking an imf work plan, not because the imf is only going to give us money, but imf�*s will help us manage this money, will help us manage our economy, will help us manage our banking sector. so the imf�*s role is... in a couple of words, because we're almost out of time. in a couple of words, are you going to get a bailout deal with the imf in the next few days or weeks? after today's news, stephen, i'm very optimistic we will be heading towards an imf agreement. i wouldn't say in the next few days, but i would say we are getting very closer to that. it might be weeks, it might be a month, i'm not sure, but i'm very positive that we will be heading in that positive direction. amin salam, it's been a pleasure having you on hardtalk. thank you very much indeed. hello. a chilly start again on wednesday morning across parts of east anglia and southeast england. the rest of the uk will be milder, cloudier, breezier, and you may be seeing some rain around. in fact, a damp start across much of scotland and northern ireland courtesy of this weather front, and that will

what are the main takeaways from this imf report? way the markets are performing, you could blame your next guest. imf with a downbeat view of what will happen to the global economy in 2022-2023. pierre-olivier gourinchas, the chief economist, saying what you just said, the worst is yet to come. for many people, 2023 will feel like a recession. the imf sees unusually large risk out there in the accompanying 12 months. russia, with the war in ukraine, continues to destabilize the global economy, the imf says. inflation peaks in late 2022. . china lockdowns and the weakening the risk of missed calibration. too many central banks raising rates too high, risks to the economy. the broad economic outlook for gdp shows the u.s. growing at 1.6% this year, down .7% from the july forecast. only 1% next year. if you look at the eurozone and the u.k., almost no growth at all. inflation in the u.s. will drop dramatically from 8.1% this year to 3.5%. in the euro zone and the u.k., little progress on inflation, which means central banks to to keep

the imf also slashed its outlook for growth in the u.s.1.6% this year, down from a july forecast of 2.3%. the collective economy of the 19 countries this year, they are expected to grow 3.1% this year. by 2023, that slashed to just half a percent. the imf also raised concerns about inflation, with the rate soaring to 8.8% this year. it is predicted to start coming down slowly to about 6.5% next year. alan fisher begins her coverage from the imf headquarters in washington -- is coverage -- alan fisher begins our coverage from the imf headquarters in washington. reporter: delegates and representatives, being told what they already know, economically, things are bad and they are going to get worse. >> the global economy continues to face steep challenges, shaped by three powerful forces. the russian invasion of ukraine, the cost of caused by persistent and broadening inflation pressures, and the slowdown in china. reporter: inflation, affecting economies around the world, making it harder for ordinary people to do ordinary things like feed th

this is exactly what the imf said to be — right. this is exactly what the imf said.ent the imf_ said. to be fair to the government the imf has— said. to be fair to the government the imf has said yes, they could be growth _ the imf has said yes, they could be growth under the plan being outlined by the _ growth under the plan being outlined by the trust administration, if you like _ by the trust administration, if you like its— by the trust administration, if you like. it's moving in a completely —— liz truss_ like. it's moving in a completely —— liz truss administration. they are trying _ liz truss administration. they are trying to— liz truss administration. they are trying to increase interest rates. some _ trying to increase interest rates. some would argue not aggressively enough _ some would argue not aggressively enough to try to get a grip on inflation _ enough to try to get a grip on inflation. all this will mean is this going to pile on extra pressure on the _ this going to pile on extra pressure on the bank— this going to pile on extra pressure on the bank

just to pick up on a point. the imf— plan is working?point, the imf said _ plan is working? just to pick up on a point, the imf said today the - plan is working? just to pick up on | a point, the imf said today the mini budget has increased the forecast for growth. fist budget has increased the forecast forarowth.�* , ., , for growth. at precisely the same time the chancellor _ for growth. at precisely the same time the chancellor was - for growth. at precisely the same time the chancellor was praising l for growth. at precisely the same i time the chancellor was praising the imf's time the chancellor was praising the imf�*s assessment of the uk economy, it was saying the rate shock started with the mini budget and suggested further reversals of its unfunded tax cuts would help solve the problem. b, tax cuts would help solve the roblem. �* . ., tax cuts would help solve the roblem. ~ . . m, problem. a change in the fiscal oli problem. a change in the fiscal policy would — problem. a change in the fiscal policy would change _ problem. a ch

the imf is cutting its forecast for global growth next year.here is a 25% probability that growth will slow to less than 2% . the imf saying so many people will file recession. there is the risk of policy miscalculations. the imf sees greater risk from central banks doing too little rather than too much. they are still forecasting that inflation will remain high. we are talking about 8.8%. only slowing to 6.5% next year. and 4.1% by 2024. for more on this, let's go to our world economics policy editor. >> i want to welcome tv viewers and radio listeners from around the world. the fed president said a more restrictive monetary policy is needed to cool things down. she is joining me now in the studio. great to have you here. i want to start with what you said today market participants are sure that the strong labor market is not cooling down. you said we cannot let inflation remain high. we need to keep it down quickly. >> i just want to make sure that we have all the data before i go into that meeting and hear what my colleagues are saying aroun

the imf looking at this year and next year. have a look at the green or turquoise line, the full-year growth estimate of 2.5 percent, according to economist we've been talking about -- talking to for 2023. china being downgraded again, and joe biden coming out this morning say he doesn't think there will be a recession but if there was, a very slight one. the cleveland fed president saying they will keep at it until the data shows something different. >> the real issue is, we need to do more. we have not seen inflation back down and we need to see that, because leaving inflation where it is, there is a higher chance that it does become embedded in the economy. yvonne: let's bring in kathleen hays. there is a credibility issue now surrounding governor andrew bailey. how much has this sparked the warnings from the imf now? kathleen: they didn't even wait for the meetings in washington this week, they started criticizing, the imf has been very concerned that they're taking the steps that are fiscally responsible, that are roiling

what has the governor of the bank of england been saying about that at the imf?e: he was at a meeting on the sidelines of the imf where he faced more tough questions after the bank of england said it was going to buy more bonds to try to stabilize the financial markets, where we have seen a huge amount of disruptions and some coern about the health of u.k. pension funds. he said he was acting in the best interest of the country. those inside here offered more criticism of what is happening in the u.k., suggesting their policies were operating at odds with each other and describing it as two drivers at the wheel. one, the central bank trying to cool the economy and limit price rises. on the other hand, the government with tax cuts trying to heat up the economy. when you have two drivers going opposite directions, that typically doesn't end well. laura: does the imf think britain's troubles could spread? michelle: that was fascinating. they said they didn't expect it to be a spillover effect. they are using events in the u.k. as an opportunity to point out the risk

the imf has recently watched one _ landing. the imf has recently watched one of— landing.mf has recently watched one of its _ landing. the imf has recently watched one of its members, i landing. the imf has recently - watched one of its members, the uk, try and ease the effects of rising interest rates by cutting taxes, causing huge turbulence and financial markets and drawing a review from the . ., .., markets and drawing a review from the . ., .. ., from the imagine a car with two drivers on _ from the imagine a car with two drivers on the _ from the imagine a car with two drivers on the front, _ from the imagine a car with two drivers on the front, each - from the imagine a car with two drivers on the front, each has i drivers on the front, each has a steering wheel and one wants to collapse, was great. what is the central bank trying to call off the economy pressures will ease. the other is want to sort of spend more to support families, but beyond that is going to add to aggregate demand, so the car is going to try to go left and right at the same time? it will not wo

how the imf sees the stress of this political instability. more important the come week we have heard of a possibility of a deal between lebanon and israel, maritime borders and possibly some light for the energy and economic crisis. >> let's celebrate when there is something to celebrate. this agreement is a reason to celebrate. it would only materialize as a source of growth and opportunities for lebanon if we were to have a clear commitment on a political level to work for the stability of lebanon. i would appeal to everybody who is in high power in lebanon to put your country or people first. we have the staff level agreement. we cannot move. why? because the prior actions we have identified that are for the benefit of the lebanese people are not yet met. there is paralysis. it can only be resolved by the political leaders in lebanon putting aside what divides them and getting to a point of serving the people of lebanon who deserve no less. >> let's turn to the u.k.. larry? reporter: thank you. there were reports coming out of london that

faisal islam, bbc news, at the imf in washington.me other stories in the headlines. the biden administration has urged the us supreme court to reject an emergency appeal by former president donald trump in his legalfight over confiscated classified documents. mr trump has asked the supreme court to intervene, and permit an independent arbiter to review around 100 classified documents that were seized by the fbi at his florida residence in august. us prosecutors have dropped all charges against adnan syed, a baltimore man at the centre of a murder case which gave rise to the true crime podcast, serial. he was released from prison last month. adnan syed served 23 years in prison after he was convicted of the murder of his ex—girlfriend. the european court of human rights has found switzerland guilty of discriminating against men on pension benefits. the ruling involved the case of a man whose widower�*s pension was stopped when his children turned eighteen. had he been a woman, he would have received the pension for life. the decision

. -- imf. washington for meetings with the pm. —— imf.e expected to pause plans after weeks of economic crisis. people are panicked about the impact of billions of pounds of tax cuts funded by more borrowing on the u.k.'s debt and on inflation and that sent government borrowing costs and mortgage rates are soaring and force the bank of england to come to the aid of pension funds. now, the bank says that support must end today. the bbc�*s editor left spoke to the chancellor before he left the state. there is a lot going on with the world's economy. he is where they recorded, with the photographer and the uk itself has been on some of the agenda. my totalfocus, faisal, is on delivering on the mini budget. in full? and making sure that we get growth back into our economy. that's the central price. that's the main focus of myjob and the reason why i'm here in washington, the reason you are here, is because we've got imf annuals and everybody is talking about the same problems. but behind closed doors at the g7 the bbc understands there was so

oksana bedratenko spoke with the director of the european alfred kemer of the imf department hopes to receive 15-20 billion dollars from the international monetary fund in the government next year in order to decide on the parameters of the imf program will analyze the state the budget submitted by the ukrainian government, the budget should address the needs of the people, they say. in the fund, this budget will focus on vital infrastructure. it should take care of the needs of the population, including funds for displaced persons. loans and not only from external donors post-war 2022 the imf expects that next year will be a year of economic growth in ukraine, the territory of economic activity in march 45% of ukraine's gdp was affected by the war, now it is significantly less than 10-15%, so most of the economy can already return and resume production - this is an extremely important driver, it is also possible to return people to work and eventually the ukrainian government wants to return refugees and re-integrate them into the economy international the monetary fund has allocated

to talk about everything right now, but i want to warn you, our viewers , at the headquarters of the imf. there is a huge amount of western press and communication channels are overloaded. i hope that i will have time to agree on everything, but if some of them are connected, it's not our fault, it's because the channels can't withstand such a load and such interest . however, not only the ministers were there, because the ukrainian president and the ukrainian prime minister also participated. well, you will see a picture from there now. look what a huge representation of western ministers and leaders of the first person, the minister of the imf and the world bank. well, i personally came the minister of finance of the united states has already been assigned the fact is that according to the previous program she was supposed to participate via video link, but she said that since we are talking about ukraine, it is her personal decision that she will come she will participate in this event personally, and of course she participated in the president of ukraine and he said about three propo

faisal islam, bbc news, at the imf in washington.een taking place in thailand for those who were killed at a nursery last week when a former policeman went on a rampage. family members, thailand's prime minister, and members of his cabinet were in attendance. a total of 37 people — including 23 children — were killed in an attack that has shocked the nation. jonathan head has more. so many lives cut short and so young. on the last day of these mass funerals, families prayed before the coffins of the victims for the last time. this woman is saying goodbye to her granddaughter, who she brought up since she was a baby. translation: she always played like a boy. she could be quite rough. she used to climb on me or on her grandfather. she would make him fall over and laugh at him, like me. he loved her dearly. it laugh at him, like me. he loved her dearl . �* laugh at him, like me. he loved her dearl . . , �* , . laugh at him, like me. he loved her dearl . �* , . ., dearly. it wasn't “ust children who died. 13 adults — dearly. it wasn'tju

imf managing director says the strong u.s.or market is losing momentum as higher borrowing costs spike. she says one third of the world's economy will enter into recession this year in. >> the risk of recession has gone up paired the total amount that could be wiped out by the slowdown of the world economy is going to be between now and 2026. $4 trillion. this is the size of germany. gdp gone. vonnie: u.s. president biden has condemned what he calls the utter brutality of russian missile strikes on civilian targets across ukraine. the attacks mark a new escalation in the or and included the first strikes on kyiv in months. leaders are holding an emergency call tuesday. japan reopens its borders to dates of axa the visitors from 68 countries ending almost three years of pandemic travel restrictions. hopes are high for a rebound in visitor numbers as airlines ramp up international flights. bloomberg research expects it to take two years to return to pre-pandemic levels. global news, 24 hours a day, on air and on quicktake by blo

what will imf tell kwasi kwarteng? this week?hristian: i actually think the seven days of turmoil have set the scene for this year's annual imf meeting. and will guide the discussions taking place there. we also have issues of financial instability in the u.k. we have seen the damage lbi investment has gone on the long end of the curve. but underlying these technicalities, we have a conflict between fiscal and monetary policy in a world where we need to prevent on anchoring of inflation expectations and more pronounced inflation. what the imf will tell the government is to tighten fiscal policy. there will not only tell it to the u.k. government, but to europeans another policymakers. the times of easy fiscal policy are over. this is what we have taken away from the turmoil in the bond market of united kingdom. dani: we also have the boe removing the training wheels on friday, no longer having effective qe buying the long end of bonds, is this a market where vigilantes will be testing the boe yet again? christian: the boe has ann

, since the beginning of the war in ukraine, the imf has allocated as much as 2.7 billion dollars toll, this amount can be considered aid in general war countries, defense of democracy, world values, what are you talking about, 2.7 billion dollars? well, i think it's funny, and you, well, look, we finished the program. now we are discussing a new program with the international monetary fund. we don't need imf money, we need it. presence in the country as a signal to investors that it is possible to work with ukraine. this is especially necessary against the background of the fact that you and i went into restructuring, well , in fact, we declared a technical default on foreign loans, well, that is, we need the imf as an ensign. well, let's be frank in order to you will wave at them and that's all, but today we receive the main money from our american partners in the first place, and if europe gives us loans, well, long-term loans, but the americans give us grants, and quite actively, and here's the one linguiz, which has now been operational since october 1, well, count. what is it?

faisal islam, bbc news, at the imf in washington.s here. lots of people watching tonight will probably be thinking all of this, the prospect for mortgages and pension funds, what is the message, how do you analyse this? it is understandable _ how do you analyse this? it 3 understandable people might how do you analyse this? it 1 understandable people might be fearful at the moment. we've had the bank outlining crisis intervention, a governor who has admitted to losing sleep over this, but the purpose of him worrying about our pensions is so we don't have to. that means a relatively small number of pension companies are impacted by this problem. the kind of help we have seen here is to shore up their finances, give them some breathing space, and a relatively small part of that emergency support has been accessed. that confirmation from the governor that this help will end on friday was a reminder to the market for theirfundamental friday was a reminder to the market for their fundamental fears about the governmentmacroeconomic plans r

let me start by thanking the imf and the world bank for this week's meeting.hank you all, to their leadership of the g7 and g20. we've had a very productive week. before i take your questions, i would like to touch upon her progress in four areas. first, i spoke this week to my counterparts in the g7 and the broader community about the diverse and difficult challenges that faced global economy today. many of these challenges stem from russia's terrible war in ukraine and the continued recovery from the pandemic. inflation is elevated in many countries, growth is slowing globally. we are also seeing swings and capital flows and strong movements in financial markets. but we are taking strong action both in the united states and globally to contend with these headwinds. in the united states, our economy remains resilient, bolstered by president biden's economic plan. but we are highly attuned to the risks of global headwinds that includes those contributing to the high inflation we are seeing in much of the world. bringing down elevated inflation remains presiden

we welcome the imf's disbursement in new emergency financing. and laying the groundwork for a full-fledged program early next year. -- as the actions continue, we must continue our joint efforts in planning for ukraine's needs in 2023. at this point, we welcome the world bank's rapid damage and needs assessment and upcoming imf validation of ukraine's budget to help anchor -- coordination. ukraine's needs will require a unified and coordinated effort. together, the g7, the financial institutions and all of ukraine's partners can help ukraine win this war and rebuild to become the prosperous and secure democracy that the you -- ukrainian people have saw -- fought for -- fought so hard for. >> thank you everyone.

it's a busy time at the imf.ere glad you could take time for bloomberg television. >> bloomberg's kathleen hays will be back with more interviews from the imf. we are now hearing from twitter saying that elon musk is being investigated by federal authorities over the deal to purchase twitter. this coming from twitter attorneys discussing the elon musk investigation in a court filing. twitter shares are sinking almost 2% at one point after this news broke. we know that elon musk has agreed again to pay $54.20 per share to purchase twitter. the original deal agreed to last april for he pulled out. we are now hearing from twitter that elon musk is being investigated by federal authorities over this purchase that would be worth about $44 billion with the original $54.20 per share agreed back in april. a transaction is expected for october 17 and we are hearing from twitter that elon musk is being investigated. coming up next, we get the outlook for the philippines. we will ask our guesstimate the future path of polic

prices paid in the imf survey, off the peak. signals that inflation is at least topping out and we haven't seen improvement just yet but there is a compelling case to be made looking at historical relationships for some degree of improvement. now what will be difficult is that the supply chain story only gets us so far. the san francisco federal reserve did work showing 40% to 50% of inflation at the moment is supply chain related and that , it doesn't get us back to 2%. 2% is a firm brake pedal from the federal reserve holding that restrictive stance of monetary policy for an extended amount of time which in my own view is that it could stretch out over two years. jon: got to leave it there, just a bit of news on the others out of the pond. we are reporting here that u.k. officials are working on a u-turn for part of the trust tax cut plan. talks are underway about whether to reverse part of the mini budget. the reports are coming from left, right, and center. lisa and i minutes ago were talking about the prospect of a u-turn,

interestingly, the imf things the u.s.ting to show things -- show signs of softness. that of course has been really critical in the global story, the strength of the jobs market there. the imf thinks there was also warning on the dollar for those poor countries having to pay back the dollar loans have taken out around the world. that was a new wrinkle coming out of it, as well. i think we at it altogether, including the back story we know about that is happening and china with covid zero and you real estate and the price of gas in euro, it adds up to a very downbeat global picture. and importantly no sign of a circular breaker or a turning point from either the imf or the world bank and the outlook just yet -- in the outlook just yet. >> is that one reason why the fed officials with the likes of vice chair brainard sounded more cautious when it comes to hiking rates for the fed? >> it was really interesting, she gave an ounce of global story as well. no doubt about it. she was making the point that it will take time to see

after that, we will need to enter the imf program with the current balance.n the region of 5 billion. in a month, open recognition is more than no one helps the united states. and you see, he is not sure that this money will go to the treasury, and moreover, this is money that will have to be given away. and let them have their sovereignty. everything is absolutely logical, this is how countries buy. yes, so called help. in fact, credit is bound, because naturally money represents the sport of american weapons and we sign necessarily, including on the contractual service of these weapons. and this is generally, we know that buying one a machine. well , for a fighter or a heavy anti-aircraft complex, so to speak, this price is one, but its life cycle will cost twice as much. i count ammunition, because one thing is that the hummers cost more than a million dollars, and they are just selling their country, but they are selling it now for weapons or some money comes directly. here, personally, they always receive benefits. we know, as if sanyok found a villa wit

we have imf annuals and everyone — because we have imf annuals and everyone is— because we have imfryone is talking about the same problems. everybody is talking - everyone is talking about the same . problems. everybody is talking about energy. _ problems. everybody is talking about energv. everybody— problems. everybody is talking about energy. everybody is— problems. everybody is talking about energy, everybody is talking - problems. everybody is talking about energy, everybody is talking about i energy, everybody is talking about inflation _ energy, everybody is talking about inflation and — energy, everybody is talking about inflation and everybody _ energy, everybody is talking about inflation and everybody is - energy, everybody is talking about inflation and everybody is talking i inflation and everybody is talking about _ inflation and everybody is talking about how — inflation and everybody is talking about how we _ inflation and everybody is talking about how we can _ inflation and everybody is talking about how we can get _ inflation and everybody is talking about how we

hello natalia, originally at the imf to reduce by 8.5%, but now it is 3.4%. europe falls into recession. russia is out of it. this is not an expert's opinion, but the title of one of the materials of the british publication, the daikonamist and the statistics published in the eu, a voiced thesis, only confirms the annual inflation in germany has reached a historic record 10%. such data was released by the federal statistical bureau of the country. well, in 2023, the german authorities are waiting for a recession, according to forecasts, gdp dynamics may fall by 0.4%, if we take other european countries, for example, latvia or estonia, inflation there is already above 20%. as josé barrel noted, no one in the eu was prepared for an energy crisis of this magnitude. this situation is a perfect storm, first, prices are rising. secondly, the fed raises the rate, all other central banks are forced to follow this rate, because otherwise their currency will devalue all seek to raise interest rates. this will lead us into a global recession. prices in europe soared inf

there is also more criticism from the imf saying the uhfuhded — criticism from the imf saying the unfundednflation situation worse. so there _ the inflation situation worse. so there is— the inflation situation worse. so there is nothing good in this for there is nothing good in this for the government. and it keeps the pressure — the government. and it keeps the pressure on the chancellor and the prime _ pressure on the chancellor and the prime minister. 1 pressure on the chancellor and the prime minister.— prime minister. i wonder what you both think of _ prime minister. i wonder what you both think of andrew _ prime minister. i wonder what you both think of andrew bailey's - both think of andrew bailey's decision to intervene again in public tonight. he was speaking in washington at the institute of international finance. washington at the institute of internationalfinance. we washington at the institute of international finance. we will play a little bit of what he had to say. we have had to return back to further, including keeping us up for the whole of the night to do further interv

we have asked congress to allow us to lend $21 billion to the imf for these funds. we have not received approval, but we are hoping that is a thing we will be allowed to do. other countries will as well. we have certainly worked with the world bank and with dedicated food organizations like [indiscernible] to add to their resources to be able to address food insecurity. the imf has resources to lend to countries with difficulties we have talked about -- debt restructuring where that is necessary. and also there are tools we have to address the needs of low income countries we need to mobilize. but an sdr allocation is something we are contemplating. >> good afternoon, secretary yellen. very recently, based on analysis of productivity growth in the u.s. and labor force participation gains, both of which are quite disappointing, the staff at the federal reserve significantly downgraded their estimates for the level of potential output in the u.s. economy, and in fact protected that over the next few years, all the way through 2025. actual output would not exceed poten

yesterday at the imf meetings, _ nurtured over decades.red over decades. yesterday at the imf meetings, andrew bailey, l nurtured over decades. yesterday at l the imf meetings, andrew bailey, the governor of the bank of england, came underfocus. the bank has had to intervene in the bond market to help ensure the viability of many pension funds. he insisted that the current bond buying programme would come to an end this week, a move not welcomed by the markets. sterling has fallen in _ welcomed by the markets. sterling has fallen in response _ welcomed by the markets. sterling has fallen in response to _ welcomed by the markets. sterling has fallen in response to what i welcomed by the markets. sterling has fallen in response to what you | has fallen in response to what you said, that they have three days. does that complicate matters? no. i'm does that complicate matters? no. i'm afraid _ does that complicate matters? no. i'm afraid this has to be done for the sake — i'm afraid this has to be done for the sake of— i'm afraid this has to b

meeting on saturday and i'm sure we _ the imf meeting on saturday and i'm sure we will— the imf meetingabout the chances — sure we will talk more about the chances future. many tory mps at this point— chances future. many tory mps at this pointjust don't think chances future. many tory mps at this point just don't think that kwasi — this point just don't think that kwasi kwarteng or indeed liz truss can survive — kwasi kwarteng or indeed liz truss can survive these repeated u—turns. absolute _ can survive these repeated u—turns. absolute humiliation, their credibility in tatters effectively. this whole debacle over the last feet 285 — this whole debacle over the last feet 285 weeks, she had a good two weeks _ feet 285 weeks, she had a good two weeks sadly when the queen died. but the last— weeks sadly when the queen died. but the last three weeks have just been causing _ the last three weeks have just been causing serious political chaos and financial_ causing serious political chaos and financial turmoil. causing serious political chaos and financialturmoil. 0ne causing serious politic

the imf says one third of the world economy is at risk of contracting in 2023.a successfully changed the path of an asteroid in what the agency is called -- is calling a watershed moment. the 160 -- the refrigerator-sized object collided into the object, raising hopes potential asteroid strikes on earth can be prevented. israel and lebanon have reached agreement to settle a border dispute in the mediterranean sea. the deal will allow israel to begin expecting natural gas without threat of attack by hezbollah. the u.s.-brokered deal could pave the way for both countries to ramp up offshore gas production including exports to europe. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haidi: the cleveland fed president says there is no reason to open the fed's balance sheet plans. she spoke to kathleen hays earlier and says inflation is running hot and the fed should do more. >> i want to make sure we have all the data before the meeting

the concerns voiced by the world bank and the imf. at a time when goldman sachs is saying we should not be pricing in a fed pivot. they remain short equities in the short-term. >> i think this is the part now of the policy cycle where we are seeing opinions diverge over where the fed and central banks in general can go next. after a few rate increases over the summer, we are starting to see some of those filter through to the economy. what we are seeing is really not great. risks of recession at the forefront of investors' minds. that is starting to get borne out in the economic data. you would expect to see this division. versus some of the more cautious attempts that say, we are now starting to see signs of the economy buckling under quite an unprecedented cycle of policy tightening across the globe. interesting again that you pointed out the caps in each group. too early for a fed pivot. on the other hand we have lael brainard, we know she is quite unowned of, but she is acknowledging the impact of the fed's tightening cycle in the

that is why many are going to the imf. the imf is the world bank, and one on organization, basically saying do you understand what is going on out here? the u.s. does not. it really doesn't. we are somewhat myopic, we are the strong's economy in the world, but it will come back to bite us if we are not careful. erik: ulrike, on friday, as many noted, the u.s. government posed a new to factor a ban on exports of technology to chinese buyers. how much of a factor has geopolitics become in the innovation? ulrike: we are heading for a bipolar world where the u.s. and china are heading for global leadership. data and ai, our investment pieces, no surprise because they yield power in the geopolitical it means industrial and military power, so that announcement is not necessarily a surprise. in that context, the u.s. has incentive to also strong more advanced artificial intelligence. you can talk about the semi conductor sector in more detail because it is an interesting industry to showcase the geopolitical interdependencies tha

shevchenko, was appointed, ukraine could not receive an aid package from the imf for a very long time, and today, well, yesterday, the new head of the national bank was appointed. this is how it turns out to be fantastic and in fact on the same day ukraine receives assistance from the imf, that is, such an interesting parallel, nevertheless, which shows that our partners will really help ukraine and here is the fact that here is this money arrived just now, this is another channel that they support ukraine, they support the steps that the country takes for let's say this is the reason for its existence, mr. yevgeny well, if we already mentioned the nbu, do you remember that if we talk, for example, about our cooperation with the international monetary fund, the world bank the national regulator played a key role in the relations between our says that there is incredible pressure. kyrylo tymoshenko says that they pressured him. now, well, we'll put that aside. but uh, in fact, with the arrival of andriy pishnyi , nothing will change for sure in the near future, because he noted that ex

the head of the world bank and imf sounding alarms, the imf director said higher u.s.es are starting to bite. and the world bank president warning of real danger of worldwide contraction. let's unpack all of this, we are joined by the chief economist at high frequency economics. carl, some pretty brutal warnings from imf and world bank. jamie dimon same recession in the next six to nine months, does 4.5% from the fed delivery a hard landing or just a mellifluous slowdown? carl: i think the notion of a soft landing is a nice dream. but it's something central banks have rarely been able to deliver. almost every experience in my career, which goes back many years, central banks have gone after inflation by tightening monetary conditions and they have generated recession. that is the only way they have to affect prices that are too high, is to cause demand to shrink relative to supply. the only brave part about jamie dimon's statement is putting a six to nine month timeframe on it because we got a good, precise view of what it is going to happen. it is certainly not happen

shery: steven barnette, imf senior representative in china. we have plenty more.mism is high for the chinese economy and markets heading into the party congress this weekend. we are joined by our asian correspondent rebecca chung wilkins --rebecca choong wilkins. what are we seeing in terms of market sentiment? rebecca: it is very unusual to see markets behave this party -- this poorly in the lead up to congress, when it is typically a show strength. we see chinese equities bubble leading up to congress, which we have not seen. the csi 300, down 24%. the yuan is set for a loss at the chinese junk bond market set for record losses. it reflects years of policy where we have seen very painful crackdowns on leverage, the property sector, the tech sector. fundamentally, it is now all about whether we see any relief on the covid zero policy. shery: on all those fronts, especially when it comes to the tech crackdown or the housing slump, we have seen a little bit of a reversal coming from policymakers, given the slowing economy in china. what are we expecting on those fr

it was interesting at the imf meeting on friday, at the g 30 section, something done every year on the sidelines, we saw andrew bailey, a very interesting conversation on a big panel of central bankers. he said he thinks this move by jeremy hunt, they had talked about it ahead of time, and it was important to the markets that the doe is endorsing his move. -- boe is endorsing his move. he also said they will not hesitate to raise rates to meet the inflation target. in august, they raise rates by 50 basis points. from the bank of japan, governor kuroda sticking to his guns, and this was after dollar-yen got to nearly 1.49 on friday, the weakest since 1990. governor kuroda not sure it will stay there. led by cost push, not demand. finally, one of the hawkish members of the ecb, the head of the dutch central bank, he said it will take two more significant hikes to get to neutral, that could include 75 basis points. there was an audience question to him where this woman asked what keeps you awake at night? you sound ok but what keeps you awake? he said nothing, unless we were to have a cri

context of the energy crisis, living in europe is becoming more and more expensive, according to the imf, this year alone, spending increased by 7% and continues to grow at the same time, the economy, the eurozone is gradually slipping into recession. alexandra nazarova has the economic collapse of the european union inevitable to such a conclusion came i will not svar fakis, who in 2015 served as the minister of finance of greece according to him, the energy crisis. particularly sharply showed disunity in the bloc with regard to migrants from the banking sector of green technologies or gas. each side tries to do its own thing. failure is guaranteed we are already seeing the idea of ​​industrialization in europe rushing eu companies paying 10 times more for gas than their american ones or chinese competitors are already shutting down factories and very soon we will see how the factories will start looking for new places in the us or other countries. the eu is in a deep crisis, which may not become apparent this winter, but next now the underground gas storage in the eu is more than 93% f

but what imf, it's all about economic and financial jargon. really talking about our people's jobs in their mortgages as well. if you could just explain in simple terms how did we get here? well. terms how did we get here? well, ou're terms how did we get here? well, you're absolutely _ terms how did we get here? well, you're absolutely right. _ terms how did we get here? well, you're absolutely right. this - terms how did we get here? well, you're absolutely right. this is - terms how did we get here? -ii you're absolutely right. this is at the end of the day about people's livelihoods. inflation has risen, the central banks are raising interest rates. this is going to raise the prices of mortgages, it is going to raise the cost of borrowing for everyone. in many cases, this is because of central banks have just moved too slowly, such as the us, may be. but then, there are other countries like the uk where some of the problems are due to policy errors. this many budget and the consequences and the uk market and higher interest rates are self—

head of the imf said — growth and keeping prices low.k and the accelerator on at the same time. on the wider political point, if the prime minister is rowing back on what she promised to deliver, surely she can't stay in office. flit promised to deliver, surely she can't stay in office.— promised to deliver, surely she can't stay in office. of course she can't stay in office. of course she can stay in _ can't stay in office. of course she can stay in office _ can't stay in office. of course she can stay in office and _ can stay in office and she's explained it today at the news conference, she's explained her reasoning and said this is an issue of economic stability for the country. obviously, it's important. finally, do you support the appointment ofjeremy hunt? because he comes from a different position within the party. do you give him your support now? within the party. do you give him your sopport now?— within the party. do you give him your support now? obviously, he's been... i support _ your support now? obviously, he's been... i

faisal islam, bbc news, at the imf in washington.westminster now. so huge pressure on both the chancellor and prime minister. what happens now? i chancellor and prime minister. what happens now?— chancellor and prime minister. what happens now? i think a u-turn and a re bi happens now? i think a u-turn and a pretty big one _ happens now? i think a u-turn and a pretty big one is _ happens now? i think a u-turn and a pretty big one is inevitable and - pretty big one is inevitable and until that happens another thing is inevitable and that is a sense of inertia, nothing really being able to change, and that is because and it's a direct consequence of the collapsing authority of the prime minister. when you lose your authority as prime minister you have to be propped up by the views of others and those views are the views of her conservative backbenchers. they are going in to see her. her entire programme for government is on the table and she has to try and work out which bits of it will fly with her party and the markets and the countr

the imf head of europe will join us next.ll get his assessment of what's happening here and the big picture in the eurozone as well. this is bloomberg. ♪ this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and set aside more for things like healthcare, or whatever comes down the road. this is "the planning effect" from fidelity. >> the bank of portugal speaking with us a little earlier. we talked about the prospect of a european recession. >> if the recession is going to be strong, no one is far casting that so maybe that is not the case and that is one good reason for that to happen. our labor markets have been amazingly strong in terms of employment and unemployment reduction. in contrast to the u.s., wages have been subdued. >> joining us now is the imf head of europe. he went on to say he doesn't think w