plus, a warning from the world bank that an escalation in the conflict in the middle east could send oil prices into "uncharted territory". hello and welcome to asia business report. i'm mariko oi. we begin in the us, where a two—day meeting of federal reserve policymakers is under way. it sets the stage for a wednesday decision on whether they'll hike interest rates, or leave them unchanged. our business correspondent erin delmore reports from new york. what do you get when you add strong consumer spending, a tightjob market and remarkable growth? you get a resilient economy. an economy that defied earlier predictions of a recession, and one that's not buckling under the weight of the fed's interest rate hikes. see, raising interest rates is the fed's best tool to combat persistently high inflation, which consumers have seen reflected in higher prices for nearly everything. and while inflation has fallen by half from itsjune 2022 high of 7%, it's still higher than the fed's target of 2%. earlier this year, federal reserve policymakers hinted that they may hike interest rates once mo

we ask the world bank present opposite bank for his reaction. i understand what his concerns. this country is struggling with hyper inflation, but they've gotten seen it has the value in itself many times over in a situation where that can ration and the value currency is making life very difficult for people. stay tuned for our exclusive interview. this is think of the business i'm kate ferguson. thanks for joining me. argentina is on the brink of radical economic change following the election of libertarian happy media, the south branded a narco capitalist has by 2 scrap of multiple government departments. do away with the central bank and the national currency markets have reacted favorably to his wind. but the question now is kind of you move up to his promises to bucklin station turn argentina's, fortunes are the on the streets of point insiders heavy malays, supporters are in a jubilant mood. thousands came together to celebrate the political, new commerce, chuck victory. they hope the bringing in the populist economist will help make things better. now. it's an incredib

um, so yes, um, and of course we now it goes bigger, for example, it's through the imf and the world bank, they prevent any nation from having any independent development, and many leaders have been assassinated for trying to get out of the clutch of the imf and world bank, so the us colon, us colonialism or us imperialism has many strategies, i don't know what they particularly are talking about, but hopefully once they understand stand one aspect, another unravels for them, and the third one, the fourth one, um, because it is not just through the military, it's done through the imf, the world bank, the nato, the eu, um, uh, and um, some of these are are more settle, settled because you don't see an army, but you see that people's wages have gone down 30%, and for the price of food has gone up, and that's because of the structural adjustment forced by the imf. so it has many faces, um, i don't think these protests understand all of it, but it is a good starting point, because palestine has um is part of has everything, it is um there, it's a british colonialism, us colonialism, seddler c

by collecting funds they confirm the priority of this program, the other 90% is financed by the world bank, that is, the same regional programs can be made today, so that people proactively gather and decide that in this territory, they consider the reconstruction of some social center as a priority there, they collected 10 funds, where 10% of the funds are from the local budget, from citizens' contributions, if any, it is not necessary that these be citizens' contributions, the local budget is enough, and others funds socio-economic development is provided by the state. that is, there are many other ideas, i am sure that if we turn to the people and they can take part in it, and we have the mechanisms and tools today, i am sure that this will unite the country, and this is also time will show that ukraine is monolithic, strong and ready for victory. glory to ukraine, dear people's deputies of ukraine, in accordance with the resolution adopted by us on some issues of organizing the work of the verkhovna rada of ukraine of the 9th convocation under the conditions of martial law, today we we

government agency including my office can do so that's one thing. >> i don't usually think of the world bank which you mentioned earlier. it's not exactly what you think of. are there any outside of that financial world? >> there are some that are doing work in afghanistan and doing good work. the problem with the international organizations like the world bank and the un is they are not actually doing the work. they are basically just another layer. they subcontract to others to do the work. some are afghan ngos and some are international ngos and that is another problem you have multiple layers and expands because of multiple administrations so we are saying that is one thing you should look at and there's a number of other recommendations we are happy to share once we finished the report. >> and when will that be? >> we are hoping in the near term in the next few months. >> it will be a few months before that is done. >> and you've been to afghanistan. do you have people on the ground? >> no americans on the ground in afghanistan. >> that's the problem that's why we are not there. i used

economy, and this is including investment indicators and credit indicators of the same imf, and the world bank and other international institutions that are ready to support us with money, but you say that first of all it is a merit, we need to thank small and medium-sized businesses so, well, you know, on everyone, everyone actually tried, yes, there was no appropriate regulatory state policy, this would not have happened, no more freedom of business had been given, yes, of course, plus, well, in fact, it cannot be said that it is only small and medium-sized businesses, no, well the national bank, let's say, yes, at first it raised the interest rate, yes, it balanced the hryvnia, now it is gradually lowering it, giving businesses the opportunity to receive. cheaper loans, and cheaper loans are business development, that is, in principle, in these force majeure circumstances, everyone managed, but of course, i will still leave to my opinion those who are closer to the people, those who adapted the fastest , these are the local self-government bodies, small and medium-sized businesses, these th

about our efforts to promote local financial stability, and the importance of strengthening the world bank, imf, and the international architecture. earlier this week we took positive steps towards strengthening the imf with the approval of a nuclear personal quota increase. this would bolster the imf's ability to -- crises at a critical time to the world economy. finally, the united states continues to clearly communicate how we are using economic tools to protect our national security interests and those of allies. -- and narrowly -- designed to achieve a clear national objective. i reiterated the importance of communicating sign and intentions in our national security actions to avoid the risk of misunderstanding and miscalculation as the united states has done with our -- border on outbound investment. information about our perspective outbound investment regimes. i also specifically raised -- about the p.r.c.'s export controls on graphite and other minerals. i stress the company must not provide materials for russia's defense industrial sector. they will face significant consequences

the world bank is taking a close look at how previous conflicts in the middle east unfolded and how those affected world oil prices, they looked at several examples: the most extreme was 1973, when the arab oil embargo. then oil production decreased by 8 million barrels per day, in which case prices could rise by more than. exactly 50 years ago the yom kippur war between israel on one side and syria on the egypt, on the other hand, led to a sharp jump in prices. in october, opec countries decided not to supply oil to countries that supported tel aviv in this conflict. as a result , oil prices soared by 70% within a month. and by january, 74 tripled compared to pre-war levels from 4 to 13 dollars per barrel. after removal. bargo oil sank a little, but still remained slightly more expensive than before the crisis; from that moment on, the market was in constant anticipation of conflicts and instability. in the 21st century, a sharp increase in prices for oil was linked to the iraq war in 2003, when, contrary to the original us plan, trade in iraqi oil was suspended after several law firms w

explain that the reason why the white spiritual boy accounts were lying around in open sight in the world's banks was because they had been kept off the banks balance sheets. and that the account details were only launched at the bank for international settlements. the central banks bank in switzerland we later wrote to the bank for international settlements, asking for a response to that claim. it has yet to reply. in the hope of getting some clarity about this curious but very confusing affair, we finally got to meet. don't feel safe while i was approached by some people i really thought perfect. go. and i came to the end of the west blue shield while he's actually apollo, to me for an issue based the have these fucked and the all of the quest it's to, to ship them to the, to the attention of this. i'll forward it to you see a massacre. we need bridges. we need tams. we need how about i'm talking about big things. we try to find of that private business. if there's a possibility that this is a skin, i'm the number one in the hunting. this give us how did you find out of that there could have be

world? thanks to industry liter, p t m. no bank accounts, no. just a cell phone and an app. but what about germany? what is present the payment from progressive made in germany in 60 minutes on d, w, the day sat rubble out from g is seen in the middle of the dasha, because i'm such a organizing reconstruction to the to new houses and renewed us. it's getting cold. the rates of holding signing the volunteers will winterstein famish and kids, particularly seeing rebuild jobs, move indices, dw, the hello, and welcome to focus on europe. it's wonderful to have you with us. we have hardly any rights and are practically excluded from society for women. and i've gone to sun, life has become increasingly difficult since with autobahn to look back over the country in 2021. many are trying to escape. zora is one of those will already managed together with the entire music school. she fled into a.

a frontline communities, the world bank is a lending institution. it's a donor driven, richard, country driven institution. it's not set up with this governance or explain will to serve the needs off of low and middle income countries were facing those dark climate crisis. and they are calling for an independent body with its own democratic governance. that's honorable to the call on not answerable to the whims of the ritual countries. not was one of the key reasons the last meeting broke down . the other is, who has access to the funding and who will pay in to the fund? there's an emerging consensus that the money can come from multiple sources. but the ritual countries whose he trapping emissions are responsible for the bulk of the climate crisis right now that they need to take responsibility and take the lead and providing funding alongside money from philanthropies, from pollution levies, and also other countries who might be willing to or in a position to contribute, but again, there's just been this effort to minimize and evade responsibility

world. thanks to industry liter. p t m. no bank accounts. no. just a cell phone and an app. but what about germany? what is presenting mobile payments from progressing made into many next on d, w, the music from the new home in portugal, the young musicians of touring, the, especially since a rita. this is an important active resist. the young cousins fled from baton. a meeting this on the focus in 16 minutes. finally on d. w. the fast fashion as an environmental nightmare. a closing graveyard image of land desert. this is where things wealthy industrial nations no longer need. and the light of the textile waste gets stranded here. all about the final stuff in the global fashion industry. fast fashion. watch now on youtube the how did you pay for your coffee this morning? did you use coins or your phone? the answer it likely depends on the country you're from. and my bakery in berlin, i don't have a choice, they only take cash, that's the norm here. but in india, for example, digital wallets are becoming.

the world bank is a lending institution. it's a donor driven, richard, country driven institution. it's not set up with this governance or explain will to serve the needs off of low and middle income countries were facing those dark climate crisis. and they are calling for an independent body with its own democratic governance. that's answerable to the call on not answerable to the whims of the ritual countries. not was one of the key reasons the last meeting broke down . the other is, who has access to the funding and who will pay into those funds. there's an emerging consensus that the money can come from multiple sources. but the ritual countries whose he trapping emissions are responsible for the bulk of the climate crisis right now that they need to take responsibility and take the lead and providing funding alongside money from philanthropies, from pollution levies, and also other countries who might be willing to or in a position to contribute, but again, there's just been this effort to minimize and evade responsibility of, and that has to shift very quickly. so we are urgi

while world bank analysts are betting on $150 per barrel, gas figures are not responding, the international benchmark oil brand neftibrand has not decided whether to collapse. the price is still below the september peak of $96. at the beginning of the month, black gold was at a discount. decrease in quotes due to the waves of growing discord in the middle east , a third of the world's oil is produced, and therefore the market fears that iran will block the strait of armu. will the world economy escape the oil storm? evgeny belausov will share his forecasts. events in the middle east are stirring the hearts and minds of millions of people around the world. some worry about relatives and friends, others simply about human lives and oppose the senseless cruelty of the parties. someone is watching what is happening out of idle interest; for someone, war, income and business, there are also economists for whom this conflict is not so much a military action as a factor of destabilization of the already fragile global financial system, we are, of course, talking about black gold, it is oil that is

multilateral development banks in fighting the climate crisis as well as -- as well as starting with the world bankbecause climate security, energy security, and food security -- they're all related, as all of you know. i'm not telling you anything you don't already know. on top of this, we focused on ending deforestation. forests are key to our future. in the united states alone, they absorb 10% of our greenhouse gas emissions as they stand today. we're also working with partners around the table to mobilize $1 billion to conserve the amazon and other critical ecosystems in latin america. you know, the amazon is a great carbon sink, it absorbs more carbon from the air on a daily basis than the united states emits on a daily basis. and it should be preserved, and they need help in doing it. the united states also ratified the -- the kigali amendment, which will drastically reduce the production of super potent hfc's. and finally, the global methane pledge we launched two years ago together with just seven other countries and the european union has grown to include 150 countries. and here at home, t

and world bank. thank you so much for your time and coming to us from the coolest structure that we have ever seen on the show so far. thank you. right, that's going to do it for this episode of modus operandi the show that digs deep in the foreign policy and current affairs. i'm your host miller chan. thank you for tuning in. we'll see you again next time to figure out the m. o. the blue one, and then we'll jump in a little more than what they should up to the unit 731 was a unique organization in the history of the world. what they were trying to do was to simply do nothing short and build the most powerful and most deadly biological weapons program that the world had every now through you know, to production with it. so it gives you or show the great deal to bring it suddenly, a little bit as little as you keep a move model. uh, mazda thought, this is miss nunez to know if i'm doing the sale. i don't understand. i've wished to know the whole need. i know you gave him some more or less than a j o s

a very good friend but i have known her forever but really, forever from the world bank to vanderbilt one of my intellectual partners in crime. roche dante, the managing director of fenway summer also with extensive strengths in consumer protection but really at the frontlines of both government service as well as the private sector. and then, finally, my good friend, christina skinner from the wharton school. also one of the leading professors and scholars and thinkers in financial regulation and policy. it really is a panel full of people i both adore and look up to, respect and i'm really excited to learn from you in this conversation. okay. as mentioned, the glass panel really was bringing together a number of themes. really going to the heart of the health of the economy and the critical nature of the financial system. i think that what we can certainly say is that today's payment system is really a mix of the old and new. i have likened it before to jfk airport. you know, it's at least, before its current renovations, you would go there and it would be a little bit old, a little

according to a 2020 report by the world bank, my goal is poverty rate remain stubbornly high. 28.4 percent of the country is considered impoverished. that's surviving on just under $2.00 per day. the next 15 percent of my goal is population is just barely above that poverty line, which means they can easily slip into the former group. so together that is some of 43.4 percent a mongolia has 3 and a half 1000000 nationals, almost half the population who subsist on about $5.00 per day or less given that countries and natural resources. i think this is a stark contrast. how can a government improve the living standards for its people? the, the 1st step is actually to clean the government to clean their act. so the officials, which are now strongly tied to all these informal business, the lead. so they need to cut those tories. there's a conflict of interest going on, and so much of the development goes to long bought are as as upset. and while other regions they are receiving short attention is sufficient attention from the central government to the and other important step is to look at china

is 400 million dollars, and the world bank provided in november 5 million dollars, well, a small figure, vasyl, well, yes, in general, i... listened, read the minister of finance today, he said that until we get it, by the end of the year, we had planned 45 billion, well, 45.8 we got 37.3 approximately, that is, we have a month left, we will not need more than 10 billion, i think that we will not be able to cover it, although today i read that the netherlands promised us 2.5 billion, but yes, vasyl, the netherlands , the european union is also completing the final procedures regarding the large financial aid to our state, but we are talking about next year, but we really need something, well, to patch up the holes, well, what i talked to the experts about today, there is that, well, safety margin , in principle, with such funding, which we have now, we definitely have six months, but just what will happen after that, what will happen after that, when you burn the fat that you have saved, well, then maybe i agree with you, there is a margin of safety, because international reserve

the world bank is betting on $150 per barrel, gas figures are not responding, the international benchmark oil brand has not decided whether to collapse. still below the september peak of $96, at the beginning of the month black gold was completely discounted. decrease in quotes due to growth waves discord, a third of the world's oil is produced in the middle east, and therefore the market fears iran blocking the strait of armuz. evgeniy belausov will share his forecasts about whether the world economy will shelter from the oil storm. events in the middle east excite the hearts and minds of millions of people around the world. some worry about relatives and friends. others are simply for human lives and oppose the senseless cruelty of the parties.

incompetent, and the situation there is even worse, in the situation in the imf is worse than in the world bank, although both of them do not differ in special competences. because there are officials sitting there who do not work in commercial banks, in commerce, because those who are in commerce, they earn much more, and therefore, in these institutions, unfortunately, there are officials sitting there who arrange everything, they are arranged by the big ones still big salaries, no responsibility, and everything is great, that’s why i so dream of running the program and so much pessimism is happening in ukraine... around me, i’m constantly thinking, how can we add a little optimism, or here i have boris kushniruk comes out and says: it's not the same as in ukraine , and there is no teacher who will teach and tell, listen, don't do this, do this, in short, there is no chance, then we move on to the russian topic, because we might have something there, something it will be good, look, even the russian oligarchs criticize the budget, i don’t quite understand how it is formed there, but how diffi

second, we are rallying international sport for the world bank and didn't fund which will push respond to future health threats. already the fund has undertaken by were to build regional disease surveillance over to greet early warning systems and expand public health workforces around the world. since the funds launch a year ago the united states has contributed $450 million to about a quarter of its total contributions to date. and will continue to work with partners to mobilize additional support. third, strengthening a global health secure infrastructure for the long haul by helping modernize existing institutions like the world health organization. we're working alongside other w.h.o. members to amend the international health regulations comes to negotiate a pandemic forward and to take other steps to ensure we can address future health threats speed, coordination, transparency, and equity. and there's more that we are doing. creating regular opportunities for ministers to meet and coordinate, building greater health expertise throughout her own diplomatic corps, here in washingto

we asked the world bank president of the bank up for his reaction. i understand what his concerns this country is struggling with hyper inflation, but they've gotten seen it has the value in itself too many times over in a situation where that inflation and the value currency is making life very difficult for people. stay tuned for our exclusive interview. this is the business i'm kate ferguson. thanks for joining me. argentina is on the brink of radical economic change following the election of libertarian half a 1000000 in the south, branded a narco capitalist has by 2 scrap of multiple government departments. do away with the central bank and the national currency markets have reacted favorably to his win. but the question now is coming. you live up to his promises to butler installation, turn argentina's, fortunes are the on the streets of point insiders heavy malays, supporters are in a jubilant mood. thousands came together to celebrate the political, new commerce, chuck.

is 400 million dollars, and the world bank provided in november 5 million dollars, well, a small number, vasyl. well, yes, in general, i listened, today i read the minister of finance, he said that as long as we do not keep up, by the end of the year we will have 45 billion was planned, well, there is 45.8, we received 37.3, approximately, that is, we have a month left, we will not need more than 10 billion, i think that we will not be able to cover it, although today i read that the netherlands promises us 2.5 billion, but yes, vasyl, the netherlands, the european union is also completing the final procedures regarding major financial assistance to our state, but we are talking about the next one, but this year we really need to do something, well, to patch up the holes, well what i talked to the experts today, there, uh, well, in principle , with the kind of financing we have now, we definitely have a margin of safety for six months, but just what will happen after, what will happen later, when you burn the fat that you have saved, well, then maybe i agree with you, reserve sta

and the world bank. and although they are great organizations, we have historically documented and the aid iag has agreed with us over time period we go back to life the first time i i spoke i thk before congress talking about the limited access we have two the books and records and information from the u.n. and the world bank and the world food organization, et cetera. so we really need to focus on getting access because these are international organizations and if you go back to i think the statute passed in 1945, we give them special authorities and we also in essence immunized them from normal oversight that aid would do or state would do if there was an organization here in the united states. so one of the things we are nervous about is because of the situation, this is what i talk about this situation is a bad situation. there are no good answers. there's no good alternatives. because we cannot deal directly with the taliban, because we don't recognize the taliban, as we can send american contracto

the world bank warns of the serious economic impact of geo political tensions, the known as the nations, the start of israel's almost $500000000000.00 economy, is one of the most developed in the middle east. in spite of its decades long conflict with the palestinians. the country has low debt, a current account surplus, and high foreign exchange reserves. now, as israel's military offensive escalates, the war on gaza is hitting the economy hard and putting its resilience to the test . here is how the economy has been effected so far. the currency has lost value against the dollar almost every day hitting an 8 year. lo and bonds tumbled economic sectors such as construction and agriculture are at a standstill. a record called up as military reservist says left businesses short staffed the tech industry which accounts for 18 percent of israel gdp and half of all exports is particularly hard hit. consumer spending is way down, is really suspending much less except on food and tax revenues are following operations at several is really ports close to guys that have been disrupted and produc

and according to the world bank, as a nice account for most of the business has created world wide be crucial for creating jobs. us and ensure an economic development. so what do they make of the current economic situation on the continent and how the situation can be turned around. be cut off with 2 business leaders. and here are the thoughts. what we could be doing is transmitting the middle pad, which is the 2nd 3, and that's as a manufacturing. and if you connect that to the importance of, for example, food items and, and so on. you notice that manufacturing, it's something i mean developed countries, how invested it said it's basically function, but so we need that sick, touch african governments, you, most of cities you can do this may be a very unpopular political decision. the reason is the subsidies often just told the market and kind of leads to, in the sense, in africa wanting that is on the days that the subsidies most likely beneficially to rich. for example, subsidies on flow. they'll have another pretty kind of effect on the economy may not directly benefit the poor who

and the world bank warrens the global economy? is it a dangerous jump? counting the cost on alice's here. of the 1000000 palestinian will leave the houses and move to the south of the gulf district, an area that come to be really enough for hosting this specific number of displaced people are evacuating to a place for us to do this. there isn't any safe place to the people in the hospitals that need electricity. they need welfare for their life. we understand the differences and similarities of cultures across the world to what we've been using kind of files that matter to you. mix koses disposal, well, 6000 migrants today. the crossing here, it's southern border. looking to push on tweets north and neva, united states. people have been queueing for days outside of mobile asylum onto the papers to try and get through the country. on the northern border, the same story if you want to see it as quite as matamoros for migrant cities or for as various countries in this region right now that have political instability for economic instability. those of the ha