while the international monetary fund warns of a rise in inequality due to the pandemic one leading charity says the lender of last resort is still dishing out loans that require the countries to hack back at public services. commerce before politics despite u.s. and european opposition germany pushes ahead with a gas pipeline that cement its dependence on russia but also increases germany's dominance of the rest of europe. on a country's finances are in a mess and the lender of last resort needs to step in a bailout comes with conditions mostly draconian austerity measures but governments have also been known to implement them for ideological reasons the international monetary fund has recognized that maybe austerity is not the best course of action and it can in fact make matters worse with pandemic the i.m.f. now says governments should spend spend spend and not worry about the finances until a recovery is embedded some would say the death of austerity should not be mourned why well let's take a look at a few case studies from recent history under the i.m.f. european central bank and eur

zambia has also been in talks with the international monetary fund for a $1300000000.00 loan. let's get more on what could be a gathering storm if more countries to fold on that debt from london by skype are joined by elisa strobel, senior economist for sub-saharan africa at i.h.s. market. and he said good to have you with us. our earth to zambia get into such a financial mess. yes, economic mismanagement and a lack of fiscal consolidation over recent years underlines some aspen intell difficulty. additionally, in a decline, transparency over debt on the chinese lenders, including alleged off balance sheet, chinese loans to state owned of prices. and the fact that some, if they were step restructuring over i.m.f. and gateman add to the debt, then the some in authorities have been under them to secure an i.m.f. support program since late 2017. that would more concessional financing, leaving told it like sterile duck. therefore, to increase sharply and also inhibiting the government's ability to secure to agree on short term fiscal imbalance of payments funding from other multil

the international monetary fund predicts that code 19 will lead to asia's worst economic decline in generations the lender said china was a bright spot of growth this year but while the asian region would rebound in 2021 full recovery from the virus could still be years away. and to lift blow for many good economy workers california voters approved so-called proposition 22 allowing right hating and delivery companies to continue trading or treating their drivers as contractors instead of employees eligible for benefits like health insurance companies argued reclassifying drivers would upton below cost business models. today would have been the day the world's largest i.p.o. were set to happen in shanghai and hong kong chinese financial take firm and group hope to raise $34000000000.00 but that's not going to happen now just 2 days before the much anticipated market debut beijing pulled the plug it's an extraordinary move that raises new questions about china's leash on its companies and it amounts to a public rebuke of and group founded. has beijing squash the ends of the high riding financial

the international monetary fund anticipates g.d.p. current per capita in africa in sub-saharan africa rather to shrink by an average of 5 point one percent across the region in 2020. that's pretty significant. however, the resources to provide relief aren't always on hands. now according to the overseas development institute, as of mid august, the economic stimulus in $23.00 of the $49.00 sub-saharan african countries amounted to a meager 3.4 percent of g.d.p. . as compared to plans from g. 20 nations, which amounted to roughly 27 percent of their g.d.p. . and there we see it there. the question now what to do with those limited resources for african countries? a one think tank focused on clean energy. the rocky mountain institute argues the country should focus on energy related projects. and the authors of a recent paper say that doing so would create new jobs here, industries that need reliable electricity, and have spillover effects and other parts of the economy. and joining me now is one of the authors of that paper, francis les

the international monetary fund anticipates g.d.p. per capita in africa in sub-saharan africa rather to shrink by an average of 5 point one percent across the region in 2020. that's pretty significant. however, the resources to provide relief aren't always on hands, though, according to the overseas development institute, as of mid august, the economic stimulus in $23.00 of the $49.00 sub-saharan african countries amounted to a meager 3.4 percent of g.d.p. . as compared to plans from g. 20 nations, which amounted to roughly 27 percent of their g.d.p. . and there we see it there. the question now what to do with those limited resources for african countries? a one think tank focused on clean energy. the rocky mountain institute argues the country should focus on energy related projects. and the authors of a recent paper say that doing so would create new jobs to hear industries that need reliable electricity, and have spillover effects in other parts of the economy. and joining me now is one of the authors of that paper, francis lesia.

tom: we focus on something like the international monetary fund, we talk about em in south america, other nations as well. any judgment of this pandemic is eurocentric. the greater sprawl that imf and other institutions see, and they mentioned it these headlines, of on its back from this pandemic. jonathan: president lagarde said the following. "companies are lightly to remain hesitant about committing funds to long-term investments as long as there is continued uncertainty about how the pandemic will unfold and the rollout of the vaccine. policymakers understand the risks in the near term, but they complaint about financial stability just make me shake my head and laughed. the policy objective was to diverse -- was to divorce financial conditions from the underlying economy. they have been successful doing that. you can't complain about spreads in the months afterwards. that just doesn't make sense. tom: this is a really important insight, and get this -- and gets us perfectly to our esteemed guest. yu with bny mellon joins us this morning. the risk here is that government comes so intru

began under the german leadership and is now being continued by the world bank and the international monetary fund. this is mr. compact with africa. straight to brussels then, and our correspondent, teri schultz, who is following this for us. terry of the g. twenty summit is over the top of the agenda was of course a supporting economic growth after the global downturn caused by covert nineteen. what steps can these leaders actually take? well, let's consider the fact that these are the twenty largest economies in the world. so if these leaders want to make something happen, they need to pull out their checkbooks, right? so they could make things happen and they do discuss very important issues that would have been important even without the coronavirus crisis. and that is debt relief reform of the world trade organization. but of course, there's a much, much stronger point on these reforms with the poorest countries being hit so hard by coded nineteen. so what they say does matter, but it still depends on each of these leaders to go back to their countries and make policies happen. these statemen

tom: this goes to the blue book, the brown book, and the green book of the international monetary fundhave you calculated the percent of gdp we will have to spend,? progressive -- to spend on this? progressive and liberal economists would say it is a higher percentage of gdp. do you have a perspective on this? tobias: we have looked at the fiscal expenditures this year, and there were about $12 trillion globally. , innding on the economy advanced economies it is up to 15% of gdp that has been spent in 2020 alone on fiscal expenditures in order to cushion the economy from this terrible pandemic. lisa: and yet, people still say monetary policy is doing the heavy lifting. even though we have that incredible fiscal expansion, it is the idea of incredibly low interest rates, bond purchases and beyond by central banks. what are the stability risks of this disconnect we keep talking about, with markets flying at records even as we look at a pretty bleak winter? tobias: for the moment, things are in pretty good shape. banks have entered this crisis with much more capital then they entered the

the international monetary fund says it's now in talks to address the debts on fridays, and they said it will not pay in interest. payments of more than $42000000.00, creditors are rejecting the country's request for a 6 month extension. that's the up to date. stay with us on al-jazeera 101 east is next to 0. we realistically, how can you do it? institutionalize corruption in this country. we listen. if this breaks up a conflict between pakistan and india, this has implications for the rest of the world. we meet with global news makers and talk about the stories that matter to their own. across the wold men are being glued into online chats with their tricked into a full meaning. sexual acts. a you been up with you and the old from a village in the philippines. young workers then blackmail their victim, was pulling in millions of dollars for their boss. some of the western union branches in the area around where she lived, recorded the biggest traditions. and he brought years in the world for periods. when no one east investigates the, you know, workings of an international online 6 g

which the international monetary fund has praised.just this month we have announced an extension of the self—employed grant scheme to march next year, an extension of the furlough scheme of 80% until the spring, cash grants of up to £3000 per month for businesses in england which are required to be closed due to the national restrictions this month. these will benefit 600,000 business premises. i can confirm today that we will be distributing £2.2 billion to local authorities tomorrow to allow them to make these vital grant payments to the businesses which have been effected. all of these measures are designed to preserve jobs and all of these measures are designed to preservejobs and help businesses stay afloat. today we have also announced that more than 19,000 jobs have been created so far through our kick—start scheme. these jobs are spread across the country and in a variety of sectors. i know how hard thisjob market is, particularly for young job—seekers hoping to enter the workplace for the first time. the kick—start scheme is

our mind when you read reports of international organizations like the world bank or the international monetary fund, which basically predicts that your economic growth of your country will contract by something like 4 percent. and that inflation will continue to hover around 16 percent, plus more than 50 percent of the population which lives below the poverty line. doesn't this look a grim reminder of what might happen in the near future? you seem to be facing unprecedented massive challenges ahead. these are definitely very different chord scenarios you've just spoken about. but we also determined to make sure that we are putting in place sound. what is the shooting that we have from policies that have not paid off from the past and making sure that we can inclusion we have been reducing because it does as a matter of fact. i mean corruption, you might have had when i over it was in the region of what is 49 percent according to the regs in by the m.c.c. . now we conduct if you want so it is not going to be an easy job. i don't expect that. but i'm very optimistic at the time and then i went from s

will feel the pinch and here's a look now at some other business stories making news the international monetary fund predicts that covert 19 will lead to ace's worst economic decline in generations lenda said china was a bright spot of growth this year that's why the asian region would rebound and 2021 a full recovery from the virus could still be years away. indonesia tumbles into the 1st recession for 2 decades as the pandemic continues to take its toll activity in southeast asia's biggest economy slumped almost 3 and a half percent in the 3rd quarter the statistics agency said tourism construction and trade were among the hardest hit sectors. the chinese government is stepping up its support for the electric vehicle sector over the next 15 years the focus will be on research and development of batteries as well as building more charging stations around the country beijing also wants to develop the autonomous driving sector. the bank of england increased its a bond buying stimulus package by a bigger than expected 150000000000 pounds as it prepares for the economic fallout from the new coronavirus

but the head of the international monetary fund has warned that there's now a ‘disconnect of financial economy‘ — and that poses ‘inherent risks to financial stability‘. as michelle fleury in new york explains, the economic signals in the us are not good. we have got the weeklyjobless figures which points to the fa ct figures which points to the fact that things are looking worse and worse just as coronavirus infection rates are surging again, leading to more fears that you could see more lock downs than the one you just mentioned in california. restau ra nts just mentioned in california. restaurants where i am already suffering curfews, restaurants where i am already suffering cu rfews, the restaurants where i am already suffering curfews, the school system in new york school —— closed, and that has a cascading effect on the economy. just as you are going into the holiday season when many retailers are depending on consumers be spending more, add on top of that that many people are going to see their unemployment benefits expire before the end of the year, and you can see why economis

our mind when you read reports of international organizations like the world bank or the international monetary fund. which basically predicts that your economic growth of your country will contract by something like 4 percent. and that inflation will continue to hover around 16 percent, plus more than 50 percent of the population which lives below the poverty line. doesn't this look a grim reminder of what might happen in the near future? you seem to be facing unprecedented massive challenges ahead. these are definitely very difficult scenario you've just spoken about, but we are also coming to make sure that we are putting in place sound. what is the shooting that we have from policies that have not paid off from the past and making sure that we can inclusion we have been reducing consistently as a matter of fact. i mean corruption, you might have had when i over it was in the region of what is 49 percent according to the regs in by the m.c.c. . now we can, if you want so it is not going to be an easy job. i don't expect that. but i'm very optimistic at the time and then i went from sharing that t

during the coronavirus pandemic, the international monetary fund says it's now in talks mazembe in authorities to address the debts. on friday, salmiya said it would not pay in interest. payments of more than $42000000.00. creditors are rejecting the country's request for a 6 month extension. that includes around $3000000000.00 in bonds issued in europe . texas currently has more coronavirus cases than any other u.s. states with the number of infections passing a 1000000 earlier this week, or spills in the border. city of el paso are struggling to cope with the influx of patients when the 1st people are in hospital there with case numbers growing 5 fold in the past month. how did you cast all reports? the streets of el paso are empty. as the city's funeral homes struggle to find space for the dead attend, the morgue truck has been requested to hold the bodies of people dying faster than can be buried. unfortunately, in my field, more levy is a fact. also the mission, the numbers i thin, the numbers of people who are now having these, all of these, what is really being malls are for us all of u

international monetary fund says it's now in talks with some been authorities to address the debt on friday. said it would not pay in interest payments of $42000000.00 at least $42.00 people are now confirmed to have died after a time when van gogh swept across the northern philippines. mother 20 or so missing slides and flooding have destroyed homes and left dozens of times without power. jamila dogan reports in the town of rodrigo's. in result, we met eric and lisa band where they were able to evacuate their home before it was submerged by flood waters. they had written no matter how hard it is to get here, because really that to get the race and eggs we had in the storage, at least we have something to eat this week. but everything else has been destroyed . they know it will take them years to rebuild. so they see they hold on to what gives them hope. next door evangel in my little oil is in despair. all her belongings have been damaged too. and she still has her mortgage to pay. please help us. we need clothes, food. we don't even have drinking water vanco barreled across many ar

now they ranked 12 on the list, according to a report based on data from the international monetary fund. brazil's productivity has been declining, sees 2015, with the pandemic, the economy will shrink an additional 5 percent. besides that, political uncertainty has helped the body, the brazilian reale, making it one of the world's most worst. performing currency is a weak currency favors exports, but the silver lining is that double edged sword. with less food being sold on the domestic market, prices have gone up. most brazilians, like i was shooting up at the wrong side, are not interested in the country's international rankings. they're worried that staple foods like rice and black beans are 20 percent more expensive. it's not only fruit prices that went up construction material is also more expensive. these rigs, for example, cost 30 percent more than before. the pandemic or the silver lost his job as a truck driver and moved his belongings from an apartment or neighborhood to a shack to use as my palate. at least i have a roof over my head in this movie. garden economy minister pau

the international monetary fund says it's now in talks with zambia for it is to address the debt on friday, zambia said it would not pay in interest. payments of more than $42000000.00. creditors are rejecting the country's request for a 6 month extension. germany has dampened hopes that a 4 week locked and will end plans more than 23000, new infections recorded on friday, the highest daily surge since the outbreak began. the chancellor will meet with state leaders on monday to review the current locked and which was jus to be lifted at the end of the month. so mccain is in berlin, where he says hospitals are already under extreme pressure. here in germany there's no question that the average number of new cases reported every day has been very high indeed. 5 figure numbers for a very considerable period which explains why you have so many active cases right now. and then there are other stats that reveal quite how deep this particular situation is. the fact that you have hospitals, not just in this city, not just in this country, but right around the continent saying that a large fraction

which the international monetary fund has praised.ion of the self—employed grant scheme till march next year. an extension of the furlough scheme at 80% until the spring. cash grants of up to £3000 per month for businesses in england which are required to be closed due to this month's national restrictions. the5e to this month's national restrictions. these will benefit 600,000 bu5ine55 restrictions. these will benefit 600,000 business premises. i can confirm today that we will be distributing £2.2 billion to local authorities tomorrow to allow them to make these vital grant payment5 to make these vital grant payment5 to businesses which have been affected. all of these measures are designed to preserve job5 affected. all of these measures are designed to preserve jobs and affected. all of these measures are designed to pre5ervejob5 and help busine55e5 5tay designed to pre5ervejob5 and help busine55e5 stay afloat. today we have also announced that more than 19,000 jobs have been created so far through our kick—5ta rt 19,000 jobs have

the international monetary fund and g20 are sounding the alarm ahead of the virtual summit, which ishis weekend, hosted by saudi arabia. the imf says elevated asset prices are pointing to disconnect from the real economy and a potential threat to financial stability. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i'm 120 countries, leigh-ann gerrans. this is bloomberg. francine? youcine: leigh-ann, thank so much. our question to next, where next for spain's biggest bank? santander has remained spe conspicuously on the sideline. merger talks were announced. with policymakers throughout europe advocating further industry consolidation, will santander continue to defy the trend? i'm pleased to welcome for an exclusive conversation, ana botin, chair of santander. botin, as always, a great pleasure to have you on the program. thank you so much for taking the time. there is a wave of consolidation in spain. do you ever feel like you are not taking advantage of these low valuations? were you ever tempted to try and b

the international monetary fund seems to agree.k at where we are in central banking and there is so many ways to go. let me give you an open question, what is your outcome for the linkage of fiscal and monetary policy for 2021? is different,tion but what is the view of how central bankers, as the adults in the room, direct fiscal policy? linkage is pretty clear when you just do the numbers. we had economists look at the amount of extra borrowing you have had by governments this year is the result of the pandemic. compare that with what their central banks have done in terms of expanding their balance sheet, quantitative easing. the numbers are similar. every banks as they had their own reasons for doing this, we helping to all of that extra borrowing. that is what you are going to see going forward. betweennd, coordination fiscal and monetary but a desperate effort by central banks to defend what they are doing on their own merits, and not for loss of sovereignty. tom: did you talk to janet yellen? is she our next secretary of the

that means everyone from larry summers to the international monetary fund to wall street stresseds areout that. yes, ultimately, that money will have to be paid down. it will not be an immediate priority for 2021. something should be high on the agenda, and we need to think more about come is how we get back to the debt relief agenda for developing economies. we will see if that bubbles up or not. gave a great, you presentation at the economy form looking at the world in 2050. for that fills a million years away. -- for many that feels a million years away. what will be between now and then if we do not adjust or adapt our economies? tom o: we modeled three things. we look to the base case projecting 2050 for china, the u.s., all the world's major economies. then we layered on top of that scenarios for globalization, whether global ties advance or stricter fracture, and scenarios for climate change -- whether failsrld gets with it or and allows temperatures to continue rising. the big take away is the difference between a cool and coordinated planet or globalization is on track and we

the international monetary fund and g20 are sounding the alarm ahead of a virtual summit this weekend hosted by saudi arabia. the imf says elevated asset prices are pointing to a disconnect from the real economy and a potential threat to financial stability. the world health organization is recommending against using gilead's remdesivir to treat covid-19 patients. the advice comes weeks after u.s. regulators granted speedy approval. the who says there is currently no evidence the antiviral improves survival rates. gilead says it is disappointed and the guidelines ignore the science. 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. this is bloomberg. annmarie. annmarie: juliette saly in singapore, thank you very much. coming up on the program, bill gates tells bloomberg that america's failure to handle the pandemic has been "mind blowing." he spoke to john micklethwait. that interview, next. this is bloomberg. ♪ infections wave of is slowing down the recovery. it is losing momentum. and in tha

mark: the international monetary fund is warning that the recovery from this year's recession is at riskthe resurgence of covid-19 forces new restrictions on households and companies. spokeg managing director at the bloomberg news economy forum today ahead of a virtual meeting of the group of 20. she says she urged the world's richest nations to continue their support for economies wracked by the pandemic, despite the promising vaccine news in recent weeks. second wave of infections is slowing down the recovery, it is losing momentum. context, our first message to leaders is do not withdraw support for the economy prematurely. stay the course. mark: the coronavirus pandemic has affected more than 56 million people around the world and killed more than 1.3 million. new york city restaurants may be forced to halt indoor dining just as the colder weather makes outdoor dining less appealing. said bill de blasio today that it is just a matter of time before the state orders indoor dining to stop. the entireomo warned city could be placed into the states orange category of covid-19 problem are

during the coronavirus pandemic, the international monetary fund says it's now in talks to address the debt. on friday, zambia said it would not pay an interest payment of more than $42000000.00. creditors are rejecting the country's request for a 6 month extension. and shelling between indian and pakistani troops says, killed several people, including soldiers on both sides of the disputed region of kashmir. india and pakistan are accusing each other of violating a long standing ceasefire. that's your state's stay with us now to syria. witness is next. ready i have it here from devon lad who sent them at some time of my view. ted, i have always had what does take an angle, but sometimes it's sometimes some time and some tough taskmaster. yeah, i mean, afford a ghost which may v.o.p. and elders open the doors to their country's past for me through their tears. i began to understand the promise and the agony that is ethiopia of it. for me to go back to i tend to assume that this will become and i've been, it's been in my mind, this is almost a move rather than have them go sort of, i ju

gideon: and have of the thernational -- international monetary fund with important conversation.er the south african president will join at 10:00 as part of the discussion. that will be a timely discussion. one of those currencies where people are looking at finally appreciation within the emerging space. , buthe pacific rim nevertheless it is there. $1874 an ounce. futures up ever so slightly. 123.utures up stay with his on bloomberg -- stay with us on bloomberg radio and bloomberg television. good morning. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. ♪ jonathan: from new york and london for our audience worldwide, good morning, good morning. "the countdown to the open" s

he gave interesting figures including the imf, international monetary fund's assessment, how their expectedobal economy. he said if you compare the figures between june and october for the contraction of the global economy that the i mchli predicting, october is back. and he describes that as the g20 activating a lot of global international institutions which he said again, this seemed to be a reference to president trump had been on somewhat of a decline. he said unfortunately, some leaders failed to keep an international look or view. and the g20, the u.n., the world bank, the imf focused on the coronavirus issue. of course, there's another theme that runs understand t s under d that's saudi arabia's own relationship with president trudg trump, which is a close relationship, despite what we're hearing from the investment minister. but i spoke with the saudi minister of state for foreign affair, about how they'll navigate changing between president trump and president-elect joe biden. >> we deal with the president of the united states as a friend, whether he's a republican or democrat. our

began under the german leadership and is now being continued by the world bank and the international monetary fund this is mr. compact with africa. now, earlier we spoke to international trade specialist, christian blue to from the bertelsmann foundation. and i asked him how the g 20 leaders are planning to deal with the global economic fallout from the coronavirus pandemic. so i think the expectations were that ideally the leaders would be doing 3 things for the financing of it. relaunch, activate all the engines to relaunch the global economy and deal with the problem. financing constraints in the developing and emerging deal comic fall out of it. right now, the g. 20 leaders are also calling for vaccines to be distributed a fairly and cheaply and of course, with intense demand for vaccines and the high political stakes of diverting vaccines in their home countries. do you think these leaders will really be able to achieve that? so i would say the glass is half full. they have pledged that they will feel the violence soon get, but they have made as far as i'm aware, any concrete commitments to h

the international monetary fund estimates that the pandemic will cause up to 10 trillion dollars of damage won't white. economically weak states have few means to counteract a debt crisis. always if you countries that have the cooperation of their central banks and they have national currencies that are people that have substantial value globally. and so they can use their central banks as lenders of last resort for poor countries. this is not possible sort of crisis. i don't see financial crisis coming in, developed countries is rather a problem of emerging and of these developing countries. many african nations already have a manageable levels of debt. just take mozambique angola and zambia, where debt is 120 percent of their gross domestic product. even economically stronger countries such as south africa and kenya also have high debt ratios. some form of debt deferral has been open to the poorest nations since june. this could be extended by half a year according to one summit resolution debt cancellation is also regularly brought up, but the enormous challenge of getting both governme

according to a report based on data from the international monetary fund, brazil's productivity has been declining, sees 2015, with the pandemic, the economy will shrink an additional 5 percent. besides that political uncertainty has helped devalue the brazilian reale, making it one of the world's most worst performing currencies this year. busy a weak currency favors exports, but the silver lining is that double edged sword. with less food being sold on the domestic market, prices have gone up. most brazilians, like a shooting in a bed, are not interested in the country's international ranking. they're worried that staple foods like rice and black beans are 20 percent more expensive. it's not only fuel prices that went up construction material is also more expensive . these rigs, for example, cost 30 percent more than before. the pandemic of the silver lost his job as a truck driver and moved his belongings from an apartment in your neighborhood to a shack. he says, my palace, at least i have a roof over my head in this movie, garden economy minister paulo ganja says brazil will grow on

yet poor nations desperately need a key international monetary fund. estimates that the pandemic will cost up to $10.00 trillion dollars of damage won't white economically weak states have few means to counteract a debt crisis. always, if you countries that have the corporation over, there are central banks and they have national currencies that are to pull that have substantial value globally. and so they can use their central banks as lenders of last resort for poor countries. this is not possible sort of crisis. i don't see . financial crisis coming in developed countries is rather a problem of emerging. and of these developing countries, many african nations already have a manageable levels of debt. just take mozambique angola and zambia, where debt is 120 percent of their gross domestic product. even economically stronger countries such as south africa and kenya also have high debt ratios. some form of debt deferral has been open to the poorest nations since june. this could be extended by half a year according to one summit resolution debt cancel

nation by the trumpet ministration, including denying them a $5000000000.00 loan from the international monetary fund to combat the covert pandemic. now he said that iran's policy was clear that a reduction in tensions would be met with rejections intentions, actions for actions commitments for commitments and respect for respect. and he said that if the united states returned to international commitments, then the situation would change. now of course, this comes a day after the supreme leader, ayatollah khomeini had a high level meeting in which he made a number of statements including saying that the iran should face down the sanctions. they should strengthen themselves. but it was also interesting. but what he didn't say he didn't rule out negotiations with the united states. he didn't close the door on that. and also he didn't mention compensation. compensation is something that the iranians have been talking about saying that they need to be compensated for the damage that's been done to the economy, to iran by the sanctions imposed by u.s. president donald trump, that they haven't mentioned th

the international monetary fund and the g20 are sounding the alarm.levated as that prices are pointing to a disconnect from the real economy and the potential threat to financial stability. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. back to our top story. the fed and the u.s. treasury are butting heads. steven mnuchin and has asked for the return of unused funds. the treasury secretary sought a 90 day extension but requested that others expire december 31. backentral bank pushed causing a rare public rift. >> i was a bit surprised and i have to say that after the announcement, the airport came out with a statement expressing their interest in extending them to keep them available and that is where i am. given where the economy is and there is so much uncertainty still out there, it is prudent to keep those things open so when people, if they do have stress, can draw upon it. anna: joining us now is gregory latham cosithnot 0cio. this comes down to th

the international monetary fund, in a report from its chief on bloomberg television earlier, was concernedthe global recovery. what about the u.s. recovery? you have been saying, by the second half of next year, we could have a very robust recovery, but what about right now? is there a risk this goes off the track? raphael: there is certainly risk. at its heart, we have a public health problem first that has morphed into an economic problem. and if we don't deal with the public health aspect, it is very hard to imagine how the economics are going to come back very robustly. so we have got to get that under control. the news on the vaccine and the progress made there is very promising, but a vaccine is not going to get through the whole economy and our population before the middle of next year. we have a short-run issue that we have got to take care of and i am hopeful. every event they speak out, i say we have got to follow the advice of public health professionals, wear a mask, wash your hands, mind your distance. what we have learned is that we can manage, but we have to be responsible o

that is hours after the international monetary fund the u.s.ould have figured this would happen at a time when the u.s. recovery is fragile, when the imf put out a report statement early on thursday, imf was onad of the bloomberg television saying she is very concerned about the virus resurgence and what it could do to the global recovery. of infectionsve is slowing down the recovery. it is losing momentum. context, our first message is, not withdraw support for the economy prematurely. stay the course. meets this weekend in saudi arabia for two days. bloomberg news obtained a draft copy of the communique they intend to issue. they need more stimulus. there are watching new lockdowns in france, germany, the u.k., other places. interesting a couple of asian hotspots did not waste any time. cutting interest rates. i am talking about indonesia and the philippines where if we look of themesia, mo -- both seem to be responding to the fact that their economies are still in negative territory. into its first recession since the financial crisis. havin