so they established two institutions, called the international monetary fund and the world bank. the international monetary fund has three business lines. the first one is to audit economies around the world and to alert policymakers when there is a risk on the horizon that they don't see. the second is to, as you said, provide financing for countries that have a balance of payment crisis. they can't pay their debt. and we provide financing and to do that, we say, "fine, but you're going to have to restore your public finance management, you're going to have to improve your situation, you're going to have to do reforms in order to regain your sovereignty and not need the international monetary fund anymore. and the third line of business is technical assistance, and we help with anti-money-laundering, with combating the financing of terrorism, with helping countries run their debt management, designing their tax system, and so on and so forth. >> the international monetary fund played a critical role in the time after the 2008 financial crisis. >> yeah. >> but you did have this wo

the international monetary fund this means that it's losing one of its most stabilizing forces the united states has always been a very stabilizing force even a dominating force for the international monetary fund and the worldwide financial system since the foundation of the i.m.f. in one nine hundred forty five but now the positions of the two sides seem to become more and more adverse i mean take the tax cuts in the united states for example they are causing the united states to sort of suck up the money from other places in the world in great amounts. so the u.s. tax policy threatens the financial system in other countries of the world. cannot bosun frankfurt thank you. european union and vironment ministers have agreed to a thirty five percent carbon dioxide reduction for new cars by twenty thirty the ministers' meeting in luxembourg or essentially split between eastern and western europe germany backed by eastern european member states fiercely resisted the forty percent cut which the european parliament voted for last week luxembourg the netherlands and nordic states had pushed for

trumps comments come as the international monetary fund and the world bank hold their annual meeting in indonesia so the mood there has been pretty bleak not only have the institutions lowered their forecast for global growth they've also released a report that says the world's financial system is at risk i.m.f. chief christine lagarde even made a veiled reference to trump's remarks by defending central banks it's clearly. a necessary development for those economies that are now showing. much improved growth. inflation that is picking up the falling into the range or reaching the threshold and employments that of extremely low it's inevitable that. central banks make the decisions that they make a clash in ideals between the head of the international monetary fund the u.s. president warnings that the global economy is slowing down and becoming unstable not to mention a continuing trade war between the us and china against this backdrop investor gestures are likely to enjoy. all right let's unpack the story here a read my question market analyst at c.m.c. markets in london and our cor

clash in ideals between the head of the international monetary fund and the u.s. president warnings that the global economy is slowing down and becoming unstable not to mention a continuing trade war between the us and china against this backdrop investor jitters are likely to enjoy. a chat about that with conrad bulls an avalanche a correspondent in frankfurt can read there's no doubt there are jitters but does this have the potential to get worse. well yes it does but despite all the assurances by so many economists that the fundamentals of the economy remain strong if you talk to people here on the trading floors they also remind everyone that the markets are navigating in uncharted territory for years prices on the markets have been propped up by this super generous money supply by the fact that monetary policy is more or less have taken the bond markets out of the game nobody can really predict what's going to happen now that these super extraordinary monetary policy is slowly slowly being scaled back and then is this prolonging trade war more uncharted terri

the international monetary fund needs and indonesia in the aftermath of the recent earthquake people there have little patience for global financing still the i.m.f. has an important message global growth is slowing and as car emissions targets have taken on a new urgency a court of berlin has to rule whether to ban diesel cars from large parts of the city. of color welcome to the program the international monetary fund has cut its global growth forecast to three point seven percent for this year and next that's down from almost four percent topping the list of threats to the global economy is the trade dispute between the united states and china which policymakers underscored is going to be felt around the world this year's annual meeting of the i.m.f. and world bank took place in indonesia where people are reeling after last month's natural disasters. for. the world's financial leaders did not receive an open armed well. i'm here ten days after a devastating earthquake and tsunami hit indonesia protesters want their government to focus on helping victims instead of hosting a summit

the world bank and the international monetary fund are in the resort of bali, indonesia, to present their global economic outlook. the mood is one of trepidation, as threats to the global economy that once felt remote are now becoming more real. the imf‘s world economic outlook report predicts global growth will be less bright for this year and for next, falling to 3.7%, down 0.2% on earlier predictions.

the international monetary fund says that germany's economy. sorry about that or try later moving on the trade war between the united states and china story would like to talk about every day but now it's tenting germany exports agricultural machinery especially hard hit by the knock on effects of tax hikes. here in london and germany's northwest farmers are partial to america's john deere tractors. although some are produced locally the biggest ones are important customers here are more interested in performance than trade politics. john deere heavy yes but they're built strong they have the pulling power of the of the tractors just can't imagine. german farm equipment wholesale a chrono imports john deere machines and exports german machines to the u.s. u.s. sales have no slumped to twenty percent a poor season low milk prices and a slump in soybean exports to china are souring the mood of u.s. farmers german famishing remake us are starting to feel trumps tariffs certainly have a knock on effect on farmers purchase behavior but it's too earl

threat not just me saying that that's the stark warning coming from the world bank and the international monetary fund off of both flow of the global growth for costs across the board. and the european union agrees to curb car emissions by thirty five percent. in the coming years why that is a challenge for german carmakers and will it make a difference in the big picture. also kind of an ogre it's a billion dollar business overnight kind of this is becoming a growth industry. this is it every business has welcomed the global financial system is increasing the unstable that's the conclusion of a report by the international monetary fund and the world bank card meeting on the enemies an island of bali are the two institutions lowered their global growth forecasts they're seeing a whole array of challenges that pose considerable threats to the world's financial stability. trade war is unsustainable das and the prospect of a no deal breakers these are just some of the risks to global financial stability mentioned in the i and math reports. if you think it all find pretty bleak take heart from the i.m.f.

that's not just me saying that's that's the stark warning coming from the world bank and the international monetary fund after lowering global growth forecasts across the board. this is the. work on the e.u. once cars are built in europe to emit thirty five percent less carbon dioxide by twenty thirty that's what european environment ministers meeting in luxembourg have agreed on. the rift between eastern and western europe germany backed by eastern states fiercely resisted the forty percent cuts which have been voted for by the european parliament last week luxembourg the neverland nordic states none of which has a car industry have pushed for even more ambitious reductions. the german automobile industry is furious they say the target of reducing carbon dioxide emissions by thirty five percent is totally unrealistic unfulfillable according to the d.d.a. automotive industry association they say manufacturers have already exhausted all available fuel saving technology now jobs and industry are in danger. in the negotiations some countries like ireland for example suggested reducing carbon dioxide emissi

as you're aware, i'm sure the international monetary fund, the world bank are gathered in bali right for their key summit. we'll be talking to the author of the imf‘s letters report in a moment. —— latest. in indonesia, the government has called on people who survived the sulawesi earthquake to return to work. more than 1,900 deaths have been confirmed on the island, and around 5,000 people are still unaccounted for, with many parts of the city of palu reduced to rubble. but more than a week after the disaster, there are signs of commerce once again. hywel griffith reports. slowly the rhythm of life is returning to palu. its people are trying to find their way forward. the earthquake and tsunami tore through the city, destroying buildings and ending lives. but in its wake, the survivors need to make a living. at this man's garage, it has been busy. plenty of people need their bikes repaired. translation: many went back to their villages, and so only one or two mechanics were operating in the city. we decided the way to recover from the trauma was to get back to work. everything else

the world bank and the international monetary fund are in the resort of bali, indonesia, to present their global economic outlook. the mood is one of trepidation, as threats to the global economy that once felt remote are now becoming more real. the imf‘s world economic outlook report predicts global growth will be less bright for this year and for next, falling to 3.7%, down 0.2% on earlier predictions. one reason for concern is that the size of global corporate debt in both the private and public sectors, now stands at an all—time high of $182 trillion, according to the imf. that's a jump of 60% since the 2008 financial crisis. the us federal reserve has been raising interest rates to try to stop the us economy from overheating, but it's causing difficulties elsewhere in the world by making it more costly to pay off debts held in dollars. the effects have been felt in emerging and developing economies. both argentina and turkey saw their currencies plunge against the dollar following concerns about their financial health. then there's the trade dispute between the us and china, which sh

now this is scenes with kristoff and a number of global problems has the international monetary fund quite concerned real a rate of challenges that's why the international monetary fund has cut its global growth forecast to three point seven percent for this year and next that's down from almost four percent topping the list of threats to the global economy is the trade dispute between the united states and china which policymakers underscored was going to be felt around the world this year's annual meeting of the i.m.f. and the world bank is taking place in indonesia where people are still reeling after last month's natural disasters. the world's financial leaders did not receive an open armed welcome here ten days after a devastating earthquake and tsunami his indonesia protesters want their government to focus on helping victims instead of hosting a summit for the business at least. their message didn't go entirely on her on a visit to one of the most of the affected areas i.m.f. chief christine legarde promised to supply funds. so that today. too. soon after it was back to the usu

trump's comments come as the international monetary fund and the world bank hold their annual meeting in indonesia so the mood there has been pretty bleak not only have the institutions lowered their forecast for global growth they've also released a report that says the world's financial system is at risk i.m.f. chief christine lagarde even made a veiled reference to transfer remarks by defending central banks it's clearly a. necessary development for those economies that are now showing. much improved growth. inflation that is picking up the falling into the range are reaching the threshold unemployment that of extremely low it's inevitable that. central banks make the decisions that. they clash in ideals between the head of the international monetary fund the us president warnings that the global economy is slowing down and becoming unstable not to mention a continuing trade war between the us and china against this backdrop investor jitters are likely to enjoy your. ride let's unpack the story here are aware of micro shares and chief market analyst at c.m.c. markets in london and

the international monetary fund this means that it's losing one of its most stabilizing forces the united states has always been a very stabilizing force even a dominating force for the international monetary fund the worldwide financial system since the foundation of the i.m.f. in one nine hundred forty five but now the positions of the two sides seem to become more and more adverse i mean take the tax cuts in the united states for example they are causing the united states to sort of suck up the money from other places in the world in great amounts. so the u.s. tax policy threatens the financial system in other countries of the world. cannot bosun frankfurt thank you. and reminder of the top stories we're following for you here on d w c.c.t.v. footage has emerged in turkey of a link to the case of a missing journalist who was last seen entering the saudi consulate so we could go to her security services believe the writer jamal khashoggi a saudi national was killed inside the building. and don't forget you can always get to d.w. news on the go just download our app from google player fr

the international monetary fund this means that it's losing one of its most stabilizing forces the us has been a stabilizing force it's been even a dominating force in the i.m.f. for many decades since the foundation of the i.m.f. after world war two but now their positions seem to drift apart more and more take for example the u.s. tax cuts they are among those dangerous undercurrents that the i.m.f. is talking about money is being sucked into the united states from many countries all over the world and this causes enormous problems for those countries and their financial systems the international monetary fund sees a whole array of threats to the global economy contribution reporting thank you. the top story we're following for you out this hour man has been arrested in germany and charged with the rape and murder of journalist victoria marin over the suspect is expected to be extradited to bulgaria it remains unclear if the t.v. presenter staff was linked to overcook. because the other news coming to you live from thanks for watching. the. technology. market. next. brazilian societ

the disaster in indonesia is one of the topics being discussed by members of the international monetary fund and world bank are gathering imbali for their annual meeting scott heiler joins us now from valley with more so as we just you know reference it's been about two weeks now since that disaster and tell me see what's the discussion there scott about what happens next. what happens next for cell in the discussions here particular with the world bank as the world bank works with indonesia when it comes to disaster relief and they're saying that they are working very closely with them in this recent disaster just two weeks ago and particularly today they're looking at it because you know we have the rescue operations the search operations i say on the island of the ways that are winding down today and then obviously now the next step what everyone the president of indonesia and the world bank officials here say needs to come next and that is the rebuilding yes obviously to rebuild that infrastructure get the economies the local economies back pumping people back to work but also emotionall

two warnings in 2a hours from the international monetary fund.s morning the international lender says risk would rise sharply as trade tensions escalate or if pressures in emerging markets was to lessen in this latest report. to break it down, karishma the swanee joins us now. what is the detail of this report? good morning. the report has just been released in the last 30 minutes and as you were saying really highlighting the fact that risks have increased although there has been strong expansion. the imf says there is no reason to be complacent. in fact there is a danger of some countries being too confident and not fixing some issues which they should have when the times were good. joining me to talk about this in greater detail is the bbc‘s economics editor, i met. you have come from the briefing. what was the main priority the imf was trying to raise in this report? -- kamal ahmed. there has been a change in the tectonic plates for the globe. in america, growth is free strong. the federal reserve is raising rates. that means that money is mo

we hearfrom the number two at the international monetary fund. and here are those markets.he dow losing another 545 points, on top of the 800 plus it lost on wednesday. the nikkei continuing to post losses, but the hang seng beginning to recover a little as we head into the weekend. we start with that turmoil on global markets becasue there's been another day of steep falls for us shares. the dow jones industrial average closed down more than 500 points, on top of the 800 points it lost on wednesday. the dow and the s&p 500 have now wiped out all their gains since earlyjuly. some signs, though, that a bit of confidence is returning in asia. so what's spooking investors? let's give you some context. wall street had been enjoying its longest—ever bull market, almost a decade of rising share prices that began in march 2009. since then the s&p 500 index has more than quadrupled, thanks to low interest rates, a recovering economy, and — more recently — president trump's tax cuts. but investors are worried all that is coming to an end. the us federal reserve raised interest rates

a downgrade and a stark warning from the international monetary fund. live from london, that's our top story on tuesday 9th october. the fund warns that rising global debt and trade tensions between the us and china will make the world a poorer place and more dangerous place. we are live to their summit in bali. also in the programme... microsoft grabs an oppurtinity in south east asia, by investing in the region's biggest ride—hailing app. —— grabs an opportunity. and a mixed day is emerging on europe's markets as investors continue to worry about italian debt and stocks hit 17 month lows in asia. and we know hotels can be bad for the environment — all that washing of towels and bedding and their big carbon footprint — but we meet one chain that trying to elimanate plastic entirely. —— that's trying to eliminate. we'll get the inside track from the boss to find out why. as as the singapore based ride—hailing firm gets in the driving seat with microsoft we want to know how much have taxi—apps changed your life? are you reliant on them to get around? let

that the message today from the international monetary fund.t says inequality has risen as the trade war escalates. also in the programme... shares in japan's softbank slide as it looks to take a stake in the shared office space firm wework. markets in europe are also headed down. we will talk you through what's ahead. and today is world mental health day. so we'll get the inside track on whether firms are doing enough to help their staff and improve wellness at work. we wa nt we want you to get involved today. does your employer offer enough support for you? what schemes are in place if you need help? or does your employer turn a blind eye to the issue? let us know — just use the hashtag bbcbizlive. yes, do get in touch with us, we would love to hear your thoughts and comments and will share them later. let's begin with our top story. a decade after the financial crisis which rocked global markets and led to recession in many economies, the international monetary fund has released its global financial stability report taking a detailed look at

as at the center of corruption cases across latin america now the international monetary fund and world bank have approved plans for zimbabwe to pay back more than two billion dollars in debt it is a vital step to secure any new loans to revive the economy the government recently impose a tax on bank transactions that's being blamed for raising prices and cause and shortages the health sector is severely affected as head of a task of reports. some zimbabweans are calling it the worst economic crisis in a decade businesses and shoppers aren't happy with the recently introduced two percent tax on bag transactions products now cost more and supplies are buying less it's later shortages and excessive price hikes it is very frustrating actually i'm coming from a farmer. does drugs which i used to spend ten bucks a week. it's forty five forty four dollars another pharmacy it was fifty five this is ridiculous i don't know where we're going is the people zimbabwe's health sector has been in a crisis for more than a decade public hospitals sometimes run out of essential drugs the pharmaceutical

now the international monetary fund and bank have approved plans for zimbabwe to pay back more than two billion dollars in debt it is a vital step to secure new loans to revive the economy the government recently imposed a tax on bank transactions has been blamed for rising prices and causing shortages the health sector has been severely affected as head of the tasso reports from harare. some zimbabweans are calling it the worst economic crisis in a decade businesses and shoppers aren't happy with the recently introduced two percent tax on bag transactions products now cost more and supplies it's led to shortages and excessive price hikes it is very frustrating actually i'm coming from a pharmacy. drugs. spent ten bucks a week. it's forty five forty four dollars another pharmaceuticals fifty five. this is ridiculous i don't know where we are going is the people zimbabwe's health sector has been in a crisis for more than a decade public hospitals sometimes run out of essential drugs the pharmaceutical industry says it needs about four million dollars a week to import enough drugs for the

at the last world economic outlook that we got from the international monetary fund earlier this yeary pointed to some risks on the horizon, some things that you andi the horizon, some things that you and i have discussed on the channel and i have discussed on the channel a great deal. trade tensions because of the trade war, emerging market contagion and the fear of more political uncertainty in the future and how the strait tensions can actually affect investment for policy makers as we go to 2018, the end of 2018 and into 2019. these are things i have been hearing of the summit in bali kicking off today. we will get the assessment from the imf inafew will get the assessment from the imf in a few hours time. it doesn'tjust affect advanced economies but it is also something at the top of minds of developing countries like indonesia as we heard from the indonesian finance minister when she spoke to the bbc. we see that globalisation and relationships among emerging and developing countries are a win—win, mutual benefit and relationship. while developing companies continue to invest an

have to hurry and the greater scheme of things conrad the international monetary fund season a rate of threats to global economic growth our markets reacting this morning. well of course for market people here in europe what's most important is what the i.m.f. had to say about our economy in the euro zone the lower growth forecast what twenty eighteen and of course this underlines that the trade escalation between the u.s. and china really has arrived in the real economy this is also reflected in today's export numbers for germany which just came in they remain on the high level but there's a dent from july to august exports from germany to other countries slightly declined this is of course another warning sign for the financial markets here cannot bosun reporting from frankfurt thank you so much. you environmental ministers are meeting today to hold tense talks on reducing harmful car missions by twenty thirty and hammer out a unified position in advance of un climate talks in december the current mission's targets have taken on a new urgency after a u.n. report on monday urged for d

promised with more details that's right it's actually the conclusion of a report by the international monetary fund the world bank currently meeting on the indonesian island of bali after the two institutions lowered their global growth forecasts they're seeing a whole array of challenges that posed considerable threats to the world's financial stability. trade war is unsustainable dass. the prospect of a no deal bring. peace and i just some of the risks to global financial stability mentioned in the i am math reports. if you think it all things pretty bleak take heart from the i.m.f. chief christine lagarde. but it is tempting to be a bit depressed about this perspective i am actually hopeful because there is a clear up a tight to improve and expand trade think of the flooring welcome discussions and proposals to strengthen the w.t. you all think of all the new trade deals such as d.p.p. eleven. the regional african trade agreement and the progress made on the us mexico canada deal what progress in some areas yes but all this against a backdrop of a trade war between the united states and china. t

a clash of ideals between the head of the international monetary fund and the u.s. president warnings that the global economy is slowing down and becoming unstable not to mention a continuing trade war between the us and china against this backdrop investor jitters are likely to enjoy. the road for more let's bring in our correspondent corner booth and standing by at the frankfurt stock exchange corner of stocks are down across the globe give us the word from there frankfurt trading floor. well here in frankfurt the german share index stacks of a is really one percent that's adding to a loss of two point two percent yesterday which is of course a lot but it's a lot less also them what happened in the united states on the market there or many markets in asia you know it looks really like the fact that german shares have been lagging behind the strong increases on the american markets in terms of demand in terms of price increases is now a bit of protection for the german market it's not hit as hard by the sell off compared to other equity markets and something else i

it comes as the international monetary fund downgraded uk growth forecasts for this year. moved to the european union by the time of the uk's exit from the bloc. shares in patisserie valerie have been suspended after the cafe chain discovered ‘significant, potentially fraudulent, accounting irregularities'. the company said these could cause a ‘potential material‘ mis—statement in its accounts. more now on those growth figures for the uk economy the economy stalled in august, but if you take the quarterly figure — looking at the last three months as a whole, the picture is slightly brighter... in the three months to august, the uk economy grew by 0.7%, buoyed by retail, food and drink during the hot summer. this was the he fastest pace of growth since february 2017. it comes as the international monetary fund downgraded uk growth forecasts for this year — from 1.3% to1.1%, as brexit uncertainty weighs on trade and investment. earlier, we spoke to the chief economist at santander — about those gdp figures all three sectors have seen positive results for the three months. wh

global growth the speck between the world's top two economies drawing consequences the international monetary fund has cut its global growth forecast for this year and the next. notwithstanding the present the man momentum in the us we have downgraded its twenty nine hundred growth forecast owing to the recently enacted tariffs on a wide range of imports from china and china's retaliation. china's expected twenty nine thousand growth is also marked down another factor worrying economists is the rise in global debt. in the last decade average national borrowings have risen from around a third of economic output to more than half that's an especially big concern for emerging economies many of which have seen money leave as a result of a rise in interest rates. with economic titans at loggerheads and developing countries under pressure the threats to global growth appear very real. this year's nobel prize for economics has been awarded to two researchers for their work on climate change and innovation us economists william nordhaus and paul romer received the award for integrating innovation and clim

the international monetary fund is the latest big name to pull out of the saudi conferences known as davos in the desert christine legarde is perspire owning a trip to the middle east which was due to include the meeting of major investors in riyadh later this month she has said she's horrified by the disappearance of jamal khashoggi. on his visit to riyadh my palm peo said saudi leaders told him a quote transparent and timely investigation will be carried out into the show g.'s disappearance but u.s. senators are skeptical about whether that will be allowed to happen mike hanna reports now from washington. mike pompei you held meetings throughout the day speaking to the king the crown prince as well as the foreign minister he came away with saudi denials and the pledge that a credible investigation is already underway they made a commitment to to hold anyone connected to any wrongdoing that may be found accountable for that whether they are a senior officer official they promised accountability for each of those persons whom they determine as a result of their investigation as did d

disappeared sean she was last seen fifteen days ago well ahead of the international monetary fund is the latest big name to pull out of the saudi conference dubbed davos in the desert as christine lagarde is perspiring her trip to the middle east which was due to include the meeting of major investors in riyadh later this month the goddess said that she's horrified by the short g.'s disappearance a twenty five year old palestinian man has been killed and three others injured after israeli forces launched airstrikes on gaza the israeli military says that it was targeting suspected hamas positions after rockets were fired into southern israel from gaza israel's defense minister ordered the closure of the as and abu salam crossings following the attacks. russia's president vladimir putin is holding emergency meetings after an explosion of a college in crimea russia's antiterrorist agency says that at least ten people were killed but the investigation is still at an early stage it says the blast was triggered by an explosive device a bomb attack in afghanistan has killed another candidat

this is your business update on how an arm free i'm glad you could join me on the international monetary fund's warnings about slower global growth rates weighed on stock markets on thursday germany's dax shed one and a half percent to close at a twenty one month low wall street was also still reeling the dow jones dropping nearly fourteen hundred points in just two days the biggest plunge since the beginning of this year. or president trump's initial criticism of the federal reserve's rate hikes had only added to market jitters and on thursday he wasted no time in taking another swipe at the fed i think the fed is out of control i think what they're doing is wrong. the obama administration you had a lot of help because they had very little interest you know when you talk about economies our economy is far better than that but we have actually we're paying interest and they were they were using it for the money. but i think the fed is for too stringent and they're making a mistake well let's go straight over to our financial correspondent yens quarter now he is all not wall street yen for the b

glad you could join me the international monetary fund has cut its global growth forecast down from almost four percent to three point seven percent it cites trade tensions and rising interest rates the announcement coming at the annual meeting of the i.m.f. and world bank currently taking place and indonesia. the u.s. china trade war is said to make the world poorer according to the i.m.f. and the prolonged conflict could mean more shocks to the global economy. impacts of trade policy and uncertainty are becoming evident at the macroeconomic level while anecdotal evidence accumulates resulting harm to companies. policy reflects politics and politics remain unsettled in several countries further risks as relations between the world's top two economies worsen other countries could get caught in the middle pakistan a key recipient of chinese infrastructure loans has called on the world's lender of last resort for a bailout a move that could instant washington if i.m.f. money is used to pay off china. the prime minister consulted all the leading economists and after consulting with everyone h

plans for its own crypto currency but to this day the petro is nowhere to be found now the international monetary fund estimates that inflation will head one million three hundred and seventy thousand percent next year as the venezuelan ball of our us become a worthless currency more stores are springing up where products are priced only in u.s. dollars. at a luxury hotel in venezuela's capital a small store which accept u.s. dollars its employee stock shelves offer goods ranging from fine wines to imported baby formula in stark contrast to the nation's barren supermarkets in a country where the local currency is practically worthless before it even leaves the bank prices only remain steady in stores which take foreign currency. this is what you call a defacto dollarization process we are a society of bend and its own currency and adopts another one as a substitute this could be a defacto dollarization applied to the entire economy which is going to oblige the venezuelan government to adapt to what the society has already decided in a spontaneous manner. the clientele of these dollar stores or body go

that has been discussed here over the last several days of these annual meetings of the international monetary fund and the world bank is disaster preparedness now this is something that was already on the agenda before these twin disasters hit indonesia just two weeks ago now the focus has been on how important is to get those local economies going to help the reconstruction effort after what the internees government has announced that they're transitioning from the search and rescue operation today thursday into the reconstruction now it's very important people here saying that they get that going those local economies going to is that will help push forward that reconstruction obviously with this group of financial leaders in one place global issues have also been talked about and trade friction between the united states and china has been a reoccurring theme both from leadership in the international monetary fund and the world bank the focus has been because of this trade friction the economic outlook for the world's economies has been downgraded a bit point two percent over the next two years

spoke with the head of germany central bank at the international monetary fund and the world bank meeting in bali yang's a vitamin a says a resulting trade disputes would be easier if the wall trade organization were reformed. it's key to strengthen the multilateral trade mechanism and that's the w t o but we all agree. that there are issues that have to be addressed one would be for instance the protection of intellectual property rights but also addressing overcapacity is in some sectors especially the steel sectors have to be discussed but again it's key to rely on this much electoral move through based mechanisms and not to resort to to bilateralism and on trump's eyes the major bone of contention remains germany's large trade surplus would you still uphold that this surplus is mainly due to energy prices foreign exchange rates and the quality of german products as you have argued before so is there no need for germany to move at all this is a bit of a simplification of my position of course i mean the point i've made before was that it's key to look whether the trade balance is a res

the austerity efforts as part of a fifty seven billion dollar bailout package with the international monetary fund analysts say the loan will help cover the government's financing needs through next year but activists disagree. that it's the budget for the i am if not for the people everyone suffering because there are layoffs companies are closing down and the government is destroying our entire research infrastructure they're just trying everything we will be left with a country with a monumental debt and no way out. we've taken to the streets so this budget is not approved this is the beginning of a popular movement to stop the agreement with the i.m.f. . me south america's second largest economy is expected to contract part two point seven percent this year and another half percent next year mockery needs the budget to pass to maintain his economic adjustment plan and turn the economy around. for six months the philippines most famous trues destination was shut down to ability to the island years and years of mass tourism damaged the once pristine beaches nearly beyond repair so the national g

the international monetary fund has cut its global growth forecast for this year and next its sights higher interest rates and trade tensions a myth believes the tough spat between the united states and china could hotel their economies around the world another source of concern is rising debt you can see the trend here in the last decade average national debt has risen from around a third of course domestic product to more than haas the effects of likely to be felt most in emerging markets where borrowing tends to be especially high. the i.m.f. has also downgraded german growth europe's so-called economic engine i asked our financial correspondent conrad bosun how bad the numbers are. never grow at a rate of one point. two point five. this was not only. over one how much of an impact. has already have on a german economy exports. were what went down who are. the banks of course. who were the problems of the pile. is correct pointed out that a trade war between the united states and china is denting german exports a sector for agricultural machinery especially hard hit by the knock o