and finally, let me end on this, kristalina, what are the bright spots? glimmers of light? do you do you see in 2023? there are bright spots on the economic horizon, for sure. you look at a country like india that has dramatically benefited from digitalisation of its economy. covid put digital in india on steroids. and so we see quite an impressive growth and very good performance of social services as a result. we see the concentration in africa on diversifying production of vaccines, fertilisers, so they can be more resilient to future shocks. and if i were to take one big message, that notion of resilience to shocks is penetrating strongly in the business community and among policy makers. yes, we have our work cut out for us, but at least we know that we have to have policies that build buffers, build resilience for the shocks to come, because they will. well, on that point, kristalina georgieva, my friend, the big boss of the imf, i always appreciate your time. thanks forjoining me and i'll talk to you soon. thank you, my friend. you know, the world

that was the boss of the international monetary fund, kristalina georgieva.w, increased divisions and tension, they have been a recurring theme in the global economy this year. so can those who have the most do more to help those with less? well, the united states, it's the world's biggest producer of both oil and gas. so as the west tries to wean itself off russian supplies so that president putin has less money to fund his invasion of ukraine, at the end of september, i asked the us energy secretary, jennifer granholm, if her country could do more to tackle the global energy crisis. well, right now we are exporting at record levels, except that we have one terminal, one liquefied natural gas terminal down. it's our biggest, it's in freeport, texas. when that comes back on, it'll increase our exports by an additional 20%. that should happen in november. and jennifer, you've led the way in getting the g7 group of advanced economies to impose a price cap on russian oil and a similar plan for gas that's on the table. but let me ask you this: without there being

kristalina? >> my biggest concern is something in principle is very good to accelerate the position to the green economy by using public money to step up private investments. this is what the u.s. is doing. this is what we just heard from bruno. europe is doing. may not serve well the emerging markets in the developing world. why? because if you take technologies , if technology transfer as part of your plan, yes, we will succeed. but if we are to strive to get the industrialized world clean and we don't think about the emerging markets, we are all cooked. we all studied, many of us studied business. there is a famous story, two men in the forest chased by a bear. one of them runs and the second one pulls snickers from his backpack. the first one says, do you think with sneakers you will run faster than the bear? the second was has, i don't want to run faster than the bear, i want to run faster than you. our problem is that for the climate crisis, we all need sneakers. i would challenge europe to

we spoke with the managing director of the international monetary fund, kristalina georgieva as she wrappedp year-end business at the imf here in washington. >> china has been hub for cheap manufacturing for the world. we are all so dependent on it. right now it looks like covid cases are exploding as they start peeling back the zero covid restrictions. what will that mean for the global economy long and short term? >> in the short term, bad news. china has slowed down dramatically in 2022 because of this tight zero covid policy. for the first time in 40 years, china's growth in 2022 is likely to be at or below global growth. looking into next year, for three, four, five, six months, the realizat -- relaxation of c. i was in china last week in a bubble in a city where there is zero covid, but that is not going to last once the chinese people start traveling. >> they don't have an effective vaccine right now. >> the vaccinations fall behind. they have not worked on anti-viral treatments and how that can be offered to people. and so they will go through this tough time. if they stay the cours

the economic turmoil this year will cover a third of the world, these forecasts were voiced by kristalina georgieva , managing director of the international monetary fund in half of the european union and china will enter recession for the first time in 40 years due to the coronavirus, gdp will fall, this means that the impact may drag down global business activity in general, according to kristalina georgieva, the united states of america will probably avoid the worst consequences of the economic shock, in particular thanks to the strong labor market in the united states that will have some levers in the world economy and i am sure that the united states will continue to be our economic and military partner together with the entire european union just for now, we will monitor the situation in the price market in general, in the real estate market in general , the current year has a lot of problems and i am sure that together with the espresso tv channel, together with the armed forces of ukraine, together with our experts, we will solve them on this i am finishing the issue but it is not

kristalina georgieva has been talking to the bbc�*s aaron heslehurst for his weekly talking businessurope is facing a recession because of the impact of the war in ukraine but the united states may escape. for sure we would see recessionary signs in europe. europe is the most dramatically hit by the war russia still carries on against ukraine. we would see tough times in emerging markets where the combined impact of high interest rates and depreciation of local currencies when especially they are in conditions of high debt is dramatic, in other words you look at countries like sri lanka, like pakistan, they are faced with very difficult conditions, and so we don't yet quite know how the us is going to go through the year. at this point, we think the us may avoid falling into recession, basically carried forward by the confidence of us consumers and the savings they accumulated during the covid lockdowns, but we know that interest rates hit labour markets with a lag, in other words tightening financial conditions ultimately leads to people buying less, avoiding new housing because of

world economy is waiting for the year even harder than the previous ones, the head of the imf, kristalina georgieva, said in an interview with the cbs television channel, according to her, growth rates, primarily in america and europe, are declining and half of the state will slide further worse than the recession. so 23 may be a year of upheaval, but in the west, judging by what georgieva said, with a tenacity worthy of a better application, she continues to read the energy crisis that strikes advanced europeans is not a reason to abandon the idea of ​​​​salting in moscow for the most part global economy this is going to be a tough year harder than the one we are leaving behind half the european union will be in recession we are looking at europe's reaction to the energy shock and we see that europe is really moving towards russian supply independence yes a harsh winter is coming and maybe that the next one will be even harsher, but independence from russia will come, and in contrast, the statement that took office as the president of brazil already during the inauguration noted the stre

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why much at the emerging markets and developing economies, there the picture is even more dire. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. forthose and by the appreciation of the dollar. for those economies that have high levels of debt, this is devastation. officials in ukraine say the suspect behind the removal of a mural by the british artist banksy could face up to 12 years in prison if found guilty. this was the mural before it disappeared. it showed a woman in a dressing gown on a battered chair, wearing a gas mask and carrying a fire extinguisher. this is the same location in the town of hostomel now. ukraine's interior ministry says the thieves tried to transport the graffiti using wooden boards but were caught by police. 0k, much more throughout the evening on bbc news. thank you very much indeed for watching. hello there. today has been a largely dry day with more sunshine around, but it's also been colder. as we

i will remind you that earlier the head of the fund kristalina georgieva reported that this whole year will be difficult for the world economy, in order to replenish the ukrainian gdp, it is necessary to unblock the ports for the export of not only grain and metals. this statement was made by the president of the association of ukrainian metallurgists prom, oleksandr kalenkov, if it succeeds to do this will be one of the most important victories of ukraine on the economic front, according to the expert, thanks to sea exports, the country receives about 5 billion foreign exchange earnings and the volume of production of metal products will increase by three times, predicts a couple of kalinkovs, the reconstruction army is called the program to provide work for the unemployed during the war, it will increase to 5,000 people, they work in 10 regions, deputy minister of economy tetyana berezhna informed that these people receive a minimum payment of 6,800 uah for performing socially useful works even more than the average unemployment benefit payment, therefore participation in this progra

by their neighbors on the continent, according to international monetary fund executive director kristalina recession. this year, a third of the world economy and half of the eu countries will turn out despite the soft winter energy crisis gnaws at europe those involved in manufacturing in the real sector are demanding that politicians do something to protect them from crazy electricity prices in france, the owner of the bakery, instead of going on strike. i decided to organize a campaign in my city with the distribution of pastries to passers-by in order to draw attention to the difficulties faced by people like him, his electricity bills have grown 12 times in a few months. i do my job with love. i daily. i wake up early in the morning. i am working all 18 hours a day. this is not to pay electricity bills, but so that i can live and provide for the lives of my employees, it is impossible for us to be interfered with. it's just that the baker says he's ready to work. until his enterprises are disconnected from electricity. it is possible that this will happen if the price of energy resourc

neighbors on the continent, according to the chief executive of the international monetary fund kristalinacession. this year, a third of the world economy and half of the eu countries will turn out to be a third of the world economy and half of the eu countries despite a mild winter, the energy crisis is undermining europe those who are engaged in production in the real sector demand that politicians do at least something to protect them from insane electricity prices in france, the owner of the bakery, instead of strikes. i decided to organize an action in my city with the distribution of pastries to passers-by in order to draw attention to the difficulties faced by people like him, his bills for electricity in a few months increased 12 times. i do my job with love. i daily. i wake up early in the morning. i work 18 hours a day everything. this is not to pay electricity bills, but so that i can live and provide for the lives of my employees, it is impossible for us to be interfered with. it's all just a baker saying he's ready to work. until his business is cut off from electricity. it is

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why muchf the rest of the world would suffer too. when we look at the emerging markets and developing economies, there the picture is even direr. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. for those economies that have high levels of debt, this is a devastation. earlier, i spoke to economist professor ann lee, author of the book what the us can learn from china. i asked her how worrying the imf�*s comments are for china. well, i'm worried that for her to come out and say this, she must have access to some non—public information. because, based on public information that many economists around the world have been relying on, predictions that china is going to grow between 4.5% and 5.5%, so for her to say it could be a drag and potentially be below global growth is actually very extreme. so the only thing i can think of that would warrant such a forecast would be if she thinks there is a very high likelihood of some kind of

the head of the imf, kristalina georgieva, said she noted that the situation with the shortage of energy in the eu will only worsen in the future, according to her, despite the entanglement that europeans have now established this winter. there is still a harsh month to go through. and next winter. there will probably be an even more severe energy crisis in poland. already reached the ruling strata from january 1st. a law came into force there, which obliges local officials to reduce electricity consumption by 10% at subordinate facilities for failure to comply with a fine of 20,000 zlotys, which is almost 340,000 rubles. new year's eve was tense for russian firefighters throughout the country , festive fireworks were not officially held, fireworks were launched spontaneously often, neglecting security measures, fortunately there were no victims, but material damage is estimated at hundreds of thousands of rubles. years in the courtyard of novosibirsk decided to celebrate brightly and noisily. but something immediately went wrong . and the apartment on the upper floor begins to blaze at

, in an interview with the american television channel cbs, explained that the head of the imf, kristalinawords, growth rates are simultaneously slowing down in the united states and in the european union and the situation will only worsen, but despite pessimistic forecasts in the west are in no hurry to give up sanctions pressure on moscow, which only exacerbates the energy crisis in the old world. for much of the world economy this is going to be a tough year harder than the one we are leaving behind half the european union will be in recession we are looking at europe's reaction to the energy shock and we see that europe is really heading towards russian supply independence yes there is a harsh winter and it is possible that the next one will be even harsher, but independence from russia will come while global issues are being resolved in the west. how to survive in the winter with limited fuel supplies from our country in the village of berezovka in the rostov region thanks to journalists, a program whose time 15 years ago helped bring the same russian gas there on the eve of our progr

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why muchrest of the world would suffer too. when we look at the emerging markets and developing economies, there the picture is even direr. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. for those economies that have high levels of debt, this is a devastation. worrying times. earlier, i spoke to economist professor ann lee, author of the book what the us can learn from china. i asked her how worrying the imf�*s comments are for china. well, i'm worried in that for her to come out and say this, she must have access to some non—public information, because based on public information that many economists around the world have been relying on, predictions that china is going to grow between 4.5 and 5.5% and for her to say that it could be a drag and potentially be below global growth is actually very extreme. so the only thing i can think of that would warrant such a forecast would warrant such a forecast would be if she thinks th

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why muchrld would suffer too. when we look at the emerging markets and developing economies, there the picture is even direr. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. for those economies that have high levels of debt, this is a devastation. brazilians have begun to say their farewells to the football legend pele as a 24—hour wake takes place in the stadium of his former club, santos. his coffin has been placed in the middle of the pitch forfans and dignitaries to pay their respects ahead of a private family burial on tuesday. the funeral procession drove through santos before dawn, with large crowds lining the streets. president lula of brazil will attend the wake on tuesday in his first engagement since regaining the presidency on sunday. pele died last thursday aged 82. 0ur correspondent, james reynolds, gave us the latest from santos. we have been keeping an eye on the line of mourners filtering behind us, and they ha

that is, production decreases, a recession begins, a recession is predicted by the imf, its head, kristalinaar will be much more difficult for the world economy than last year. why because the three major economies of the usa, the eu and china is slowing down. at the same time, we expect that one third of the world economy will be in recession, an economic decline for two quarters of the forecast for the united states and europe , and if it is almost not felt in the united states, in europe it will drag one or even two percent of the fall, which means that someone will lose their job , someone will have to provide for their there is no need to say that this will lead to some kind of revolution, riots, or something else, of course, the world crisis can also be exacerbated, and china is saving it by tolerance to covid and a strict lockdown, it can slow down the economy heavenly china must grow yes, because when you are growing so actively, if you even stop , it does not even fall, it is a huge shock for your economy and for all education, in fact , because china is a huge economy. we are lying

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why mucher too. when we look at the emerging markets and developing economies, there the picture is even direr. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. for those economies that have high levels of debt, this is a devastation. now to scotland, where three people have died, after a fire at a hotel in perth. guests at the building in the centre of the city were evacuated shortly afterfive in the morning. 0ur scotland correspondent, james shaw, has more. around 5am this morning, flames burst from a window at the new county hotel. the fire is burning fiercely but appears to be confined to the second floor. video captured by another eyewitness shows the scale of the emergency response — 2i ambulance crews and around 60 firefighters. 0ur firefighters worked extremely hard in a very complex and challenging environment to prevent the further spread of fire and damage where possible. after the blaze had been put out, firefighters

kristalina guyorgyeva says 2023 will be "tougher" than last year, as the us, eu and china see their economies the spread of covid in china weigh on the global economy. joining me now is janet mui, head of market analysis, rbc brewin dolphin. janet, thank you so much for joining. so which regions are most affected by this, and of course this isn'tjust about the countries that are facing recession. it will affect the global economy as a whole. yes, basically the _ global economy as a whole. yes, basically the global _ global economy as a whole. 1a: basically the global economy will all be affected, because as you mention, the major economies such as the us, which is the biggest economy, the second largest economy, which is china, they all affected and the euro area as well. but the uk is expected to perform the worst in 2023, because not only are we suffering from the cost of living crisis, but many people around the world are doing that, but we're also seeing austerity, which means taxes rising which will curb people's spending. they rely a lot on the consumption of the western world, so if th

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why muchng economies, there the picture is even direr. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. for those economies that have high levels of debt, this is a devastation. with me is our business presenter, tadhg enright. talk to me first of all about what has been said about developing countries, because that is really worrying, isn't it? it countries, because that is really worrying, isn't it?— countries, because that is really worrying, isn't it? it is. however bad last worrying, isn't it? it is. however had last year— worrying, isn't it? it is. however bad last year fell _ worrying, isn't it? it is. however bad last year fell because - worrying, isn't it? it is. however bad last year fell because of - worrying, isn't it? it is. however. bad last year fell because of rising energy bills, the overarching message from the imf is that the year ahead will be even worse. it faces us all, but while bigger and more developed e

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why muchemerging markets and developing economies there at the picture is more dire. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. forthose and by the appreciation of the dollar. for those economies that have high level of debt, this is devastation. let's get some of the day's other news in brief. at least four people have died and several others injured after a helicopter crash on australia's gold coast. two helicopters collided mid—air close to the sea world theme park in queensland, before crash landing on a sandbank. police say initial evidence suggests the crash happened as one helicopter was taking off and the other was landing. gunmen have attacked a prison in northern mexico, killing ten guards and helping at least 24 inmates to escape. at least four prisoners also died in the incident in ciudad juarez. the mexican army has joined efforts to restore security, and locate the fugitives. for the first time in nearly seve

kristalina georgieva said 2023 will be a tougher year than the one that we leave behind.ays the u.s., the e.u. and china are all slowing at the same time, leading to negative trends globally and the outlook for emerging markets even worse. israel has raised interest rates to the highest level since 2008, and will remain elevated for some time. the bank of israel lifted its benchmark 3.75% in line with most forecasts viewed the monitoring committee also adjusted it sees signs of moderation in inflation pressures with an economic slowdown ahead. moscow's defense ministry says a ukrainian strike on a russian literary flexibility has killed 63 troops stationed there -- military facility has killed 63 troops stationed there. the ukrainian president said on new year's day that russians are right to be afraid because they are losing. 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 am paul allen. this is bloomberg. haidi: with the subsequent spike of cases in china, it has pushed econ

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why muchthe emerging markets and developing economies, there the picture is even direr. why? because on top of everything else they get hit by high interest rates and by the appreciation of the dollar. for those economies that have a high level of debt this is devastation. here's our business presenter, tadhg enright. how are you? happy new year to you. same to you. how are you? happy new year to you. same to you-— same to you. should we be saying that about the _ same to you. should we be saying that about the global economy - same to you. should we be saying| that about the global economy and particularly the economy is in the developing world, the ones that are still growing?— still growing? unfortunately not. last ear still growing? unfortunately not. last year felt _ still growing? unfortunately not. last year felt bad _ still growing? unfortunately not. last year felt bad because - still growing? unfortunately not. last year felt bad because we - still growing? unfortunately not. i last

speaking to face the nation on cbs, the imf managing director kristalina georgieva explained why muchg economies, there the picture is even direr. why? because on top of everything else, they get hit by high interest rates and by the appreciation of the dollar. for those economies that have high levels of debt, this is a devastation. let's cross live now to david higgins, who's an economist at carraighill research. thanks forjoining us. what do you think about the imf predictions? t think about the imf predictions? i think about the imf predictions? i think they're accurate. i think we are going to see that slow down in the three major pillars of global growth, china, europe and the us, and the reason i'm confident is because it is partly by design. we had inflation last year which was inflation that people began to feel for the first time in many decades, and central banks have been addressing that by raising interest rates. when you raise interest rates, you inevitably slow growth. there is a balancing act to be struck this year. you can't raise rates so much that you cause so much

half of the eu countries will enter a recession in the coming year, the head of the imf , kristalinaiew about herself, she noted that the situation with the shortage of energy resources in the eu will only worsen in the future, according to her , despite the warming that has now been established for europeans this winter more going through a harsh month. and next winter. the energy crisis will probably be even more severe. already got to ruling strata from january 1. a law came into force there, which obliges local officials to reduce electricity consumption by 10% at subordinate facilities for failure to comply with a fine of 20,000 zlotys, which is almost 340,000 rubles. it was already night in moscow when the inauguration of the new president was completed on the other side of the world in brazil, he is lula, a phenomenal man, a former metallurgist at the beginning of the century. he was already the head of the brazilian state. it was then that he became a co-founder of brix after he went to prison, but was fully acquitted. here now triumphant return to brazilian and world politic

in the difficulties facing their neighbors on the continent, according to imf executive director kristalina, in a state of recession. this year, a third of the world economy and half of the eu countries will turn out despite a mild winter energy crisis ravages europe those in the real sector are demanding that politicians do something to shield them from the frenzied electricity prices in france. a bakery instead of a strike. i decided to organize a campaign in my city with the distribution of pastries to passers-by in order to draw attention to the difficulties faced by people like him, his electricity bills have grown 12 times in a few months. i do my job with love. i wake up daily and early in the morning. i i work 18 hours a day, all this not to pay the electricity bills, but so that i can live and provide for the lives of my employees, it is impossible for us to be interfered with. it's just that the baker says he's ready to work. until his business is cut off from electricity. it is possible that this will happen, if the price of energy resources is predicted by some economists, in th

but here are people like kristalina, after all, not only in bulgaria, there were a lot of them and theret the last thieves offspring of the communist elites, in fact, it is a significant part, and it led to what we experienced in the nineties. but the truth is, and then we began to gnaw it out and gnaw it out until now . i am with the lord and we will gnaw out for a long time and in terms of gnawing out what you are talking about now, there is also solidarity in solidarity and solidarity is still chasing, there, too, i also listened to you both with pleasure, gentlemen, yes, and i completely agree with you. not disgust. the new elite is changing the country, but not the whole. let's tell the truth, not all, not all, and not so quickly no, well, this is also such a banal statement. it is clear that it can not be fast. it will not be fast enough if no efforts are made to it, this is also understandable. but, and you understand, there is a story right there, in which i see skepticism in the eyes of alexei alexandrovich about the fact that this is not a quick question right there. in what wh

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here's the imf�*s managing director, kristalina georgieva.ri lanka. there were food and fuel shortages and violent anti—government protests that led to the prime minister resigning. now, it's negotiating an imf bailout, and the crisis is still ongoing. this week, the government announced spending cuts and warned it barely has enough revenue to pay public salaries and pensions. what's happening in sri lanka shows the impact a debt crisis has. countries can no longer finance themselves or provide safety nets for people. here's the imf�*s mark flannagan again. one way to think about this, in fact, about the total exposure. in fact, about the total exposure is to think about the most vulnerable. those who are subject to extreme food insecurity. and we have estimates on that from the world bank and un agencies. right now, those estimates say that between 700 and a billion people, over the next decade, are exposed to extreme food insecurity. those are the kind of people who would be very affected by a debt crisis. now let's take a look at pakistan,