in fact, worse than the world bank and do it. and that's why it's actually extremely unfortunate that the bank are to erase the dream business initiative, which a lot of taxpayer money i've been spend to establish. because of ernest, the core behavior at the top of the institution. but there is that because of the fact that the board would she, the $170000000.00 a cost every year did not played. so go side role own issue with within your management. and so, you know, i believe that the bang should continue to missouri during business, but unfortunately, because of, of issue during business of a big v as to neither p it, it should be mentioned crystelina, georgia, eva who is 2nd in command at the world bank at the time now head of the international monetary fund has called the invest investigation. simply untrue, ah, how, how much is the pattern? it has been written about not only are in those who have been reporting on this case, but you know, the washington post just recently came out and just said, this is a big deal in a fully

so what does this tell us about the world bank and it's other reports, and if the mighty world bank is vulnerable to political and financial pressure, what should we say about smaller institutions in governments that are trying to fight corruption? they were talking with unit kelly, dean of the sanford school of public policy at duke university and author of score card diplomacy, grading states to influence their reputation and behavior. and for greece, who to are a former officer at the world bank and the office of the un high commissioner for human rights and currently the managing director at our leadership. thank you both for joining me today. and let me just start with unit. can you help us set the stage for what has happened in terms of the accusations that have blown about the world bank doing business report? sure, so the bank started publishing this report, you know, 2004. i became quite an influential report. many countries of trying to, to move up in the rankings that you said. and over time, countries work with the bank on what kinds of reforms can be undertaken. and the pr

but the world bank is vulnerable to crony capitalism. then so 2 are much smaller institutions and countries, and that's the bottom line. ah, i look to see the world reveals dramatic pictures from garza in may 2021. i lived there for a number of years and it, there's nowhere safe. and god account done to his really miss all the tax on for time. it looks like we're tired, families, businesses and media organizations simply do not goes a 60 minute warning. oh no. jesse around with in a hands on celeste's working in asian africa, there'd be days where i'd be choosing and editing my iron stories in a refugee camp with no electricity. and right now where confronting some of the greatest challenges that humanity has ever faced. and i really believe that the only way we can do that is with compassion and generosity and compromise. because that's the only way we can try to solve any of these problems is together. that's lounges are so important. we make those connections. lou madison and don't have the top stories and i'll do syria. if you of his

the world needs a strong and effective world bank. that is one of the reasons why these issues have been such a concern. we saw a record 650 billion, vital for the world and a lot of attention in making sure that the imf can be effective, providing support going forward. >> that transitions us to our next guest. let's continue this with the director of the policy center at boston. eric is highlighting that slowing economy. it highlights the need of a strong and trusted imf, world bank, you name it. greg's it is really important that we contain this for the moment so that we can deal with the fact that we are dealing with a global health and global economic crisis that can really move us over a cliff. the word is out on the street. the curtains have been unveiled. this is not necessarily fit for today's purpose. they need some fundamental reform. we cannot do this this week. we need to work on vaccinating the world and dealing with debt relief. we cannot kick the can down the road. these institutions need to be reformed. >> it will not

doing business report for brief, do you think has been part of the problem of other work that the world bank has done? well, you know, i agree with you. it is a huge deal because where did, where did christian to the seriousness of teams did. you should like the world been in the i m f and the truth. you that, steve, you, you might remember that would be to offer in 2007 in which actually i think you kind of played a bit of a road and, you know, think then, thus been discussion about issue the 18th on retaliation of the war bank. and the recent command that mr month by the true president of the bank fed in which he said, well, we are going to have a hard, luke al, could you, i know atx at our issue the retaliation. that's not enough because all of his predecessor of medicine proclamation. and so we have to question issue the child who other shareholder facilities to be at the head with institution. what is the book doing in terms of oversight? you know, when you have a stitching board, seems like that should not be happening. and so i think it's key to remember that this is not only about do

staff to manipulate data to make it look more favorable for china when she was the head of the world bankthe economist denies the allegation and the board is set to resume talks on the issue. reporter: restarting the world economy after covid, fighting poverty, boosting green business to slow global warming some of the issues discussed at the imf annual meetings. but now the future of its managing director is the scandal making headlines. she is suspected of rigging data for a world bank report in 2018 back when she that institution. an independent report commissioned by the bank claims the economist pressured staff to change data to boost kind is ranking. -- boost china's ranking. the imf is meant to clarify details on the report. the economist, who risks losing her seat, has denied the allegaons. she detailed in the statement efforts she has made not to favor any country, including china, writing, "the idea that after nearly 20 years of the world bank, i would suddenly start pressuring big staff inappropriately to change information in a report is outrageous and untrue." the process the

will be joined by the world bank guest, and a bank governor.loomberg. ♪ lots more on the way. this is bloomberg. ♪ this is bloomberg. ♪ david: welcome back. just approaching mid-morning, the start of the session in some parts of southeast asia. we are ahead of the thailand open. we are looking to where we are in north asia with the equity markets. there we go, a fraction of 1%. keep in mind a lot of these markets are largely more exposed to the oil story than some of their peers across the region here, guys. rishaad: yeah. looking at southeast asia they continue to open, or reopen their borders. of their economies have been hit really hard. in the process, let's get the latest from our reporter who leads the asia health and media coverage. rachel? rachel: what we are seeing in the region now is unmistakably this move toward reopening, these countries following the model that was pioneered in europe, travel is being resumed and reopened for vaccinated people. restrictions are going down. singapore, for example, is using vaccine mandates. . at th

i'm delighted to join from washington by the world bank president david malpass. international monetary fund chief krista lena down in avon, wto director general. a corneal only allah and from geneva the world health organization's director general pedro gabrielle. the choices we make in the coming years will determine whether developing countries will end in rapid growth and economic inflammation. those are the words of the global head. we are without global cooperation and coordination. we can't get there without tackling vaccine inequality. according to the global vaccine equity established in part by the who, 61 percent of those living in high income countries have been jack with at least one shot. that figure dropped to less than four percent in low income economies. less than four percent. let that sink in. all the multilateral leaders have to figure out essentially how to close this gap. to suggest there is an alarming shortage frankly understates the extent of the problem so i'd like to start with you this evening. what do you need to boost vaccine supply a

world bank and -- annual meetings have gotten under way. the i.m.f.ill be putting out some important reports tomorrow. so they're worried about how this wave on its credibility to have its current managing director who was the c.e.o. of the world bank until 2019 being accused i guess you would say by wilmer hale, the law firm in washington that did this report. at the behest of the board of the world bank after a couple of employees apparently complained that they had been pressured at one point to boost china doing business rankings. but this is -- this is a management turned over to the i.m.f. if they need to take a step because she is no longer there. it is very important as well that european officials are starting to throw their support in behind her. shery: i think we heard from the french finance minister official. kathleen: we heard from a number. let's put this in perspective, shery. why do we taker what the french say despite the fact they're france, right? first of calling the head of the i.m.f. has to be european and head of the world bank

el-erian talked about, of the world bank and the imf and data transparency.t odd set of meetings here. it is all wrapped around china. the real discussion here is whether em, is it the old em, or is there something new going on? jonathan: from new york city this morning, coming up shortly, not ella val -- shortly, not you -- shortly, nadia lovell of ubs. this is bloomberg. >> another exclusive bnp paribas open update for bloomberg tv and radio from tennis channel. the first women's semifinal is set, and a huge upset in the men's draw wednesday at indian wells. two-time champion viktoria azarenka powered her way into the final four for the fourth time in her career. >> it feels like you are starting from the beginning, so i am really happy, and i am motivated to keep going. >> earlier, grigor dmitrov upset the u.s. champ and top seed, daniil medvedev. dmitrov took 11 of the last 14 games. and don't forget, tennis channel's exclusive live coverage hits the air daily at 10:00 a.m.. (announcer) looking for a better way to lose weight and feel good? how about the

disapproval, the african union has suspended call to me until civilian rule is restored and the world bank has put a deliveries on hold. anger within the country is also growing. state will company, workers and doctors have joined protests against the power grab. meanwhile, the military's cracked on continues more politicians and activists happen, arrested, sick sudanese ambassadors happens, fact heb morgan has this report from call to these road blocks on the streets and neighborhoods around to dance. capital 2 are now a common sight once used to keep out security for says during anti government protests against then president obama will be here in 2019. they've become a symbol of rejection. of monday's military. cool. and on the 3rd day of the military takeover in the city weather revolution that overthrew us year thought that people were back on the street the out in hard to protest. those have called for a general strike and civil disobedience, state oil workers, doctors, businesses and other sectors have responded to that call. i'm going to move banks, government institutions and priv

i hope the rest of the week goes for you at the world bank annual meetings. kathleen: thank you, kathleen. kathleen: always a pleasure talking to you. shery: ay: a great conversationd by our own global policy economics editor kathleen hays who will be back with anotherr big interview. we'll hear from philippine central bank governor benjamin on thejamin on the policy direction as the country eases pandemic restrictions. we do have an alert on the havee bloomberg right now. the fed is clarifying a position earlier on the term ending for the vice chair. federal reserve vice chairman forfor supervision randall quars will be removed from his role on the supervisiononthe supervisio. he was the chair on that committee. that will expire withith his tie officially expiring on wednesday as well. that's according to a fed statement. quarless has also -- also has aa seat -- will chair the supervisory bank committee the main watchdog of wall street lenders and president biden has yet to nominate a candidate for that role.e. haidi. haidi: let's take a look at the day ahea

f, world bank after arguably discredited in organizations. attend yesterday's. g 20 afghanistan summit. we speak to former afghan president, cars, ice finance, minister, involved in negotiations with everyone from us, president biden, to victorious taliban leadership plus in the week china hosts called 15 the world's largest by a diversity conference. in a decade. we ask if british prime minister morris johnson holding in my beth is basing his plans for leveling up on a plan of endless economic growth that will lead to humanities extinction. all the small coming up in today's going underground with 1st in the past 24 hours g, 20 leaders, as well as the united nations. the i'm after the world bank met to discuss the situation in afghanistan ahead of moscow summit next wednesday. one man who has seen every site of this crisis and has been intimately involved in negotiations with the international community and the taliban, is afghanistan's former finance minister, omar zacko, while he was a key player in the draft can dialog before the full of cobble and as previo

for the imf world bank meetings.was me in new york -- here with me in new york, lisa abramowicz. in the bond market, treasury yields lower by a basis point on tens to about 1.566 4%. euro-dollar, $1.1559. in the commodity market, -0.6 percent. mike mckee is ready to break down cpi data in just a moment. after that, neil dutta of renaissance macro, the head of u.s. iconic research. all of that is next -- u.s. economic research. all of that is next. this is bloomberg. ♪ jonathan: cbi in america is seconds away. from new york city, alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market update points. we advance .2%. with your data, here is mike mckee. michael: these are not the inflation numbers jerome powell was looking for. cpi up .3% -- up more than .3%. at this point it is a .4% gain. .3% in august. over the last 12 months the all items index is up 5.4% before seasonal adjustment. food and shelter rose, contributing more than half of the all items index, the decks for food at home up 1.2% on

that would imply, to some extent, the i m f and the world bank. how do you inject this liquidity if the world doesn't recognize the taliban? and since you, you said some of this is personal to you. do you suggest the countries now recognize the tele mon diplomatically since, as you said, they are in charge. thank you. know that the so things are completely different earn the world bank can create a trust fund and that trust fund can paid violently to people in it ear and the p as a trust funds that then can pay directly to people in the that organizations in it so we need to inject cash in the economy. i'm not saying that i'm asking the national community to give money to her, the taliban, or to the present or thought it is not. we need to cash to inject cash in the economy. we need to make the economy breathe. we need to allow people to survive. debt is our concern. the questions of recognition and the questions of dealing with government at totally different and can be dealt with, of course, earth, civil or the principles of international law and

one specific rather controversial report at the world bank. not with the research at the imf. we were very explicit in recognizing the integrity of imf staff and research. >> two ports in california will begin operating 24 hours a day, seven days a week to ease a backlog. the ports of long beach and los angeles are seeing similar traffic jams. -- will be the ones. >> the port handles a third of the united kingdom's freight. but the bottleneck of cargo has led to a backlog that could take months to shift. >> i think there will be some disruptionhis christmas as a result of the shortage. retailers are adept at making sure that they prioritize things people want, making sure that ople's christmas favorites are available to buy. >> the world's largest container shipment firm is available for transfer to avoid the queues. such problems are global. the u.k. exit from the european union on top of the pandemic has exacerbated the problem badly. at shops. used to empty shelves 40% of the container tradeove and the u.s..se ports to eope as demand outstr

the world bank group has pores disbursements in all of its operations. you suzanne on monday and stop processing any new operations. i'm gonna ask him why you shared that, but also via this comment. this question from one of our audience miss fin says i do believe that sydney's was so of the problems by themselves. no more interference of any countries at all. bearing in mind the stopping of disbursement from the world bank group a mess fin, saying sudan, we've got it. we can handle this, we don't need international interference. hipaa thoughts? well, it's one issue of international affairs thing that has been under economic action for more than 10 years and it has had impactful economy. so the reason why we treat david needs, because, you know, it's only the time where world back by and actually and in the phone book program for the families and the government, the government to fix it. that wasn't really the living public life. so that's, that's why significant the fact that these have been you know, the frightened, all right. and you committed to how

the african union has suspended cart to the world bank has put aid on hold.

that is the headline from the world bank's survey.projects gdp will expand three .3% in 2021, more than its initial forecast. inflation is set to hit 4.3%, still within the target range set by the region's central banks. governments have spent two point 8% gdp on covid-related support measures, just a fraction of the 17% devoted by most advanced economies. overall risks to economic growth remain tilted to the downside. earlier i spoke to the managing director of operations at the world bank about how the slow vaccine rollout across the african continent is hampering the economic recovery. >> i have some positive news that growth is resuming after the first recession in decades last year in africa, and as you said, the vaccine rollout is highly unequal. just to give you a number, currently only 3.3% of the african population have been fully vaccinated. that compares to over 60% in rich countries. this is a problem for the recovery. therefore, our demand and our recommendation is that we need to step up the rollout in africa to get 40%

we have the african union suspending saddam the world bank and the u. s. suspending financial aid is correspond mentioned condemnation really coming from various courses. is any of this sufficient pressure? do you think the cause general per home to back down? thank you for having me come. in fact, no one has hinted that he's going to a stablish or install a new civilian government within the next few weeks. and probably he will go as far as also setting up some of the institutional structures that has not been established during the last 2 years. such as the constitutional court, the traditional legislative body and commissions for election and constitution making constitution, if he succeeded in setting up the civilian um bodies. so the question would be, will he be able to convince the internal factions that are opposing he right now and international, but this, in other words, would he be able to bring in civilian government that would be accepted by the different players, whether intentionally or from outside or what do you think? do you think we w

african union has suspended, sued on from all activities until civilian rule is restored and the world bank has put on hold as put aid on hold able morgan reports to us now from the capital hart . tim. these road blocks on the streets and neighborhoods around sedans. capital ha, 2 are now a common sight once used to keep out security forces during anti government protests against them. president omar bashir in 2019. they've become a symbol of rejection, of monday's military. cool. and on the 3rd day of the military takeover in algebra, the city where the revolution that overthrew bashir thought ed people were back on the screen in her to protest as have called for a general strike and civil disobedience, state oil workers, doctors, businesses and other sectors have responded to that call a moles, banks, government institutions and private companies are all closed. this is a full civil strike and people are preparing for the main event on october 30th. and that's why i love this. people were elected because we saw that they had to know how, but the military didn't give them the space to do t

there is no chance the united states, european union, world bank and etc.re going to come and say we don't mind having the democratic transition torn up. the other option would be to get some cash in hand from the saudi's and the morales. -- saudis and emirates. this is not just call for dialogue but it called for a return to the constitutional agreement of 2019. i think it is not likely that the arab league would have gotten very much out of step with the egyptians. it is unclear to me where possible foreign financial support for general burhan's ap proach will come from. >> there are different key players from the eu denouncing the decisions made by burhan. could this become sanctions? >> i think burhan would not have attempted this coup d'etat. this is a country trying to make a transition to democracy. this is a region dominated by autocrats. they don't like democracy but they do have space for islamists. it is not clear if burhan will in the absence of any clinical and social grounding, he may just go back to coalescing with the islamists. if he does s

a comment from david malpass, he's the head of the world bank group. the bank group has poor disbursements in all of its operations. you susanne, on monday and stopped processing any new operations. i'm going to ask him why he shared that, but it also via this comment, this question from one of our audience medicine says i do believe that sidney will solve the problems by themselves. no more interference of any countries at all. bearing in mind the stopping of disbursement from the world bank group and methane thing through that, we've got it. we can handle it. we don't need international interference. hipaa thoughts? well, it's one issue of international affairs thing is that we've been under e commerce if they function for more than 27 years, it has had an impact for the economy. so the reason. ringback why we treat that david mouth asked me because, you know, at the time where world back of the buy in program for the families income and the government, the government would fix that. but that wasn't really flipping up, you know, the public life. so t

i mean, you were in the world bank so you know how wrong the world bank was, were developing countries as regards growth and macro economic policy. you can't blame them too much. you know, the point way projections is all if they don't take them very seriously because their projections always project based on the current knowledge. and the assumption that there will be no dramatic a significant changes in the field. and we know actually dramatic and really unexpected. and you're seeing graphic events happen, and when they happen to like to call it happen, all the projections start off. so if you were to look at the, i'm there for the world bank projections, 50019. it's not surprising that actually they were off. they, they couldn't do it. the problem with projections, if, really, if you're wrong and nothing spectacular has happened over that period, and i think you're in a problem. well, perhaps most dramatic from you has been something you said about china. the china is obviously targeting inequality. we had from a guest only the other day who was saying say, the shortages of certain

african union has suspended, sued on from all activities until civilian rule is restored and the world bank has put a hold on aid era. also fears about what it could mean for the millions of people in the country who were already dealing with an economic crisis involving a shortage of basic goods in the country. algae, there is hip morgan reports now from the capital hart. tim. these road blocks on the streets and neighborhoods around to dance. capital hudson are now a common sight once used to keep out security forces during anti government protests against then president america bashir in 2019. they've become a symbol of rejection. of monday's military. cool. and on the 3rd day of the military takeover in algebra, the city weather revolution that overthrew bashir thought that people were back on the screen. in cartoon, protested, have called for a general strike and civil disobedience, state oil workers, doctors, businesses and other sectors have responded to that call a, you know, moles, banks, government institutions and private companies are all closed. this is a full civil strike and

but according to debt campaign, as we've crunched the i m f and world bank data, the program has fallen well short of expectations. so let's do some number crunching of our own starting with the $46.00 low income countries, which applied to the scheme but still ended up paying out $36400000000.00. only $10300000000.00 in debt payments were actually suspended. so with the real debt relief, especially when the g 20 group of rich countries had promised the scheme, would lead to more than 20000000000 and savings. now interestingly, china, which has often been criticized for an unwillingness to offer debt relief, actually suspended the most debt. this is according to the jubilee debt campaign. in the world bank warner, this month, the pandemic had increased the debt burden of low income countries by 12 percent. it's up at $860000000000.00 in 2020. it seems one of the biggest problems of the whole g 20 plan was that private investors weren't compelled to take part. in fact, they took in $14900000000.00 themselves during the pandemic. it's all a bit familiar, isn't it? let's give you a specifi

has suspended sudan from all of the blocks activities until civilian world is restored and the world bank has put a hold on sedans, aid workers from saddam state and oil company have joined a growing movement against mondays, military coup. hibbon morgan has more from custom where yet to see a reaction, not just on the statement from the african union, suspending sudan from the organization, but also on the world banks. hes suspending financial assistance to the country. now more than 70 percent of students. 43000000 population are below the live below both the below poverty line. as for the will back, many of them have been relying on financial assistance that was provided to the transitional government that has been dissolved bite in our lab in for that. and will hon, and that has been suspended. israel has approved plans for 3000 new, illegal settlement units and the occupied west back according to excels new sites. you a secretary of state vocally opposed plans, new tents, phone call with the israeli defense minister. the european union's top court has ordered poland survey a fine of

according to the world bank, lebanon is confronting one of the worst economic depressions in modern story. its currency has collapsed. there are massive food and fuel shortages. almosthree quarts of the population live in poverty and lebanois facina political crisis as investigations continue into last year's port explosion which killed at least 215 people and destroyed entire neighborhoods of beirut. we go now to beirut where we are joined by lara bitar. she is editor in chief of the public source, a beirut-based independent media organization. welcome to democracy now! explain what is happening to lebanon. lara: residents are being evacuated from their homes. children from their schools. as you correctly stated, unidentified snipers fired in a demonstration that was organized by hezbollah and their allies. these political parties have been trying to unseat the lead investigative judge from the investigation into the port explosion. nermeen: could you explain who the judge is and why there is such opposition to him carrying out this investigation? lara: far beyond the intricacies and det

in the world bank warner. this month, the pandemic had increased the debt burden of low income countries by 12 percent. it's up at $860000000000.00 in 2020. it seems one of the biggest problems with our g. 20 plan was that private investors weren't compelled to take part. in fact, they took in $14900000000.00 themselves during the pandemic. it's a little bit familiar, isn't it? let's give you a specific example. now chad, the countries president was killed by rebels in april and has seen many as a conflict across its porous borders. now by the i m, f and world bank called out private investors and warned a and this is a quote, a crisis could further impoverish and already poor country, worse in healthcare and in danger, regional peace and security and quote. in this case, the private investor group is led by the anglo swiss commodities try to glen call together. they are owed more than a $1000000000.00, which is a 3rd of chads public external debt under an oil for cash deal. now for its part glencoe in letter

lisa: the reason i ask is there are the imf meetings some of the world bank, also g20 meetings taking for the third day today. does any of this matter, or has the credibility of a lot of these policymakers lost so much clout that people are not even watching what the proceedings are? annmarie: it is definitely a weird meeting, as tom mentioned earlier, in the sense that there's still a number of social distancing going on in washington, d.c. mass mandates as well when you go into entrances. but when it comes to the and christiana georgia -- kristalina georgieva, her speech will be closely watched, her session becomes a lame-duck, regarding that report at the world bank. that would happen, as you say, lisa, institutions like the imf, people will essentially potentially not pay as much attention to. it is important to note yesterday with the imf report to my number of people are paying attention to that, especially if they lowered the growth forecast and they mentioned supply chain disruption. lisa: that is where i wanted to go. for the record, i am very glad tom is down there. i wanted

the african union has suspended cartoon until civilian rule is restored and the world bank has put a deliveries on hold anchor within this also growing state oil company workers and doctors of also joint protests against the paragraph and the military is cracked and goes on more politicians and activists have been arrested and officials and ambassadors have been sacked. hipaa morgan reports form cartoon these roadblocks on the streets and neighborhoods around to dance capital hard to are now a common sight once used to keep out security for says during anti government protests against them. president, i'm going to be here in 2019. they've become a symbol of rejection, of monday's military, cool. and on the 3rd day of the military takeover in the city where the revolution that overthrew us here thought that people were back on the street. the out in her to protesters have called for a general strike and civil disobedience, state oil workers. doctors, businesses and other sectors have responded to that call. i'm going to move banks, government institutions and private companies are all

now by the i m f and world bank called. ringback out private investors and warned a and this is a quote, a crisis could further impoverish an already poor country. worse than healthcare and in danger, regional peace and security and quote. in this case, the private investor group is led by the anglo swiss commodities try to glenn coal . together they owed more than a $1000000000.00, which is a 3rd of chad's public external debt, under an oil for cash deal. now for its part glen coin letter to the i m. f. obtained by this network says it has restructured loans collectively with other creditors in 2015. and again, quote, as a significant and stand alone gesture of goodwill in 2018 glen cove goes on to say it was engaging with chad in a constructive and good faith manner. following a request for talks from the country. when i mentioned the jubilee debt campaign earlier, and tim jones is the head of policy days with us and scott from london to talk through more of as tim, thanks for your time. i just want to deal specifically w

as well as the united nations, the i m f, the world bank met to discuss the situation in afghanistan ahead of moscow summit next wednesday. one man who has seen every site of this crisis and has been intimately involved in negotiations with the international community and the taliban, is afghanistan's former finance minister, omar zacko. while he was a key player in the, in traffic and dialog before the full of cobble and his previously served as the countries ambassador to pakistan, he joins me now from his stumble. thank you so much ambassador coming on the show. i mean, i should just start the scores were killed on friday attributed to the isis k mosque bomb, british and american citizens have been told by their governments not to go near the serena hotel and cobble a favorite of experts. amidst all this, what have you thought about the g 20 a virtual conference in rome? well, the only thing i can expect and hope to see is a firm commitment for humanitarian assistance. to understand the human genome situation, no doubt is diet, assigning, there are deeper economic crises right now

and the world bank, which provided financial assistance, has withheld back to us. and i'm the tenant general, i've been put, the hon said he took power and dissolved the cabinet to avoid sliding into civil war. his promise, a cabinet of professionals. but some analysts say forming a government accepted by all will not be easy if they manage to come up with an acceptable government government that is formed with real exhibit, one independent from political affiliations. who can be trusted to pick the country into election in 2020 city or 20 for us? it was a stipulated before. i think that would be the key. these demonstrate as they, they'll continue to build their momentum for more protests calling for an end to the military rule. several people have been killed since the crew on monday, and many more injured, but protested they, they'll go on until their aims are achieved. he bow morgan, alta 0 harpoon. the united nations has reiterated cole's furl detains government officials to be released. the situation and sit on was discussed at the un for 2nd day in a row, kr

that was coming reinhardt, the world bank -- carmen reinhart, the world bank chief economist.ty market up eight points, 0.2%. but it is the move in the bond market i want to sit on for a moment. yields at the long end up a basis point. this is in america. in the u.k., a bigger move at the long end. these curves are getting flatter. reviewed comes in and the u.k. to 1.37% per tends at about 1.1%. yields in about half a basis point. pretty much anchored on twos after an elevated move of the back of a conversation about higher interest rates in the u.k. are the central bank's about to step in because of the price pressure? maybe temper the recovery a little bit. we have seen the movie the u.k., and we have seen the move in treasuries more recently. it is recent stuff, but i think it is worth focusing on. tom: it is worth focusing on, and what is so important is institutions to the rescue, as we just saw with mr. putin talking about gas in europe. what is important to me is the asymmetry of the united states with jp morgan and what we are seeing in europe over any number of things

banking division also doing well. citigroup up there in terms of the top underwriters in the world in equity underwriting. i do also have to point out that when it comes to global consumer banking, their revenue has dipped quite a bit, about 14%. lower card balances was part of that. when you look at the international business, a lot of weakness in asia as well. there will be some questions about that, but the core business is doing quite well. citigroup has a much more global footprint than some of its peers , say bank of america, so how is it doing around the world also be of interest as we parse deeper through those numbers. lisa: the stock continues to go up in premarket trading, now almost 1.8%. we have seen pretty dramatic underperformance of citigroup versus the other banks coming into this earnings report. why has the bar been so much higher for citigroup to seem valuable to traders? sonali: they have a lot of regulatory issues. we saw the same thing with wells fargo. at some point, wall street turned around and said they are cheap, let's get in there. jane fraser is about six months through the jo

the african union has suspended sudan and the world bank has put aids on hold. kristen salumi has more from the united nations. several council members took the opportunity to day to condemn what's happened, the u. s called the military takeover, completely unacceptable. kenya, african member of the council before the meeting. i called on the security council to follow the lead of the african union, which is suspended, sudan temporarily. i and speak with one voice, but so far the counsel has been unable to speak with one voice. negotiations on a statement are ongoing that we did also here today from sue dan's representative at the united nations. and he did not speak directly about the takeover. but he did call on the international community to help ah build baba, new food oncle, up, some delegations have expressed their concerns as to what is currently happening in sudan. and while understanding their concerns, we would reiterate the need for the international community and the security council. more specifically, to continue providing that support to the peopl

my biggest problem is my team is so fired up for imf world bank, there are so many people working on this, they are not talking to each other. jonathan: how many are on the team, tom? tom: seven people are working on it. jonathan: you get down to business. work it out. tom: they just tell me what to do. jonathan: michael shaoul joins us now, market field asset management ceo. market expert patients clearly moved down on a low-inflation regime. i am talking about finally breaking out of the lowfla tion regime that has plagued much of the last decade. do you think we have? michael: straightforwardly, i think we have. it is a significant environment to anything we saw pre-covid. one of the big changes that is going to represent his consumers have an incentive to buy today rather than white tomorrow -- rather than wait until tomorrow. lisa: you are somewhat pessimistic on stocks, according to your latest note. how much more selling are you expecting, and why? guest: i am not that pessimistic. i just don't feel selling is totally done. the worst case scenario, i think the index is testing

government, i mean, it just went exactly again, is one a has b, according for the policy of the world bank, and i am, if adopted these people, economic policies, which with me for interrupting you, the last point, so how to cook in cartoon hatch church in 30 seconds? are you optimistic that the civilian part of the administration will react in the right way to the pressure that's being directed at it just now? it just seems to be ignoring what's being said to it. ok so, so really on comes on the street are coming out on the 21st of october and we are pushing and what we're really pushing for is for civilian both. right now, i think it's way more important that civilian world, that any of the rest of the other thing i think right now is actually on the right track for a change. and that most important thing in my democratic position is to get to democracy. the rest will follow, gentlemen. thank you so much. thank you to, i guess they were about god, all wally, my depo and how george cook and thank you to for watching. you can see the program again any time via the website. i'll just your do