This is al jazeera ah, hello, im adrian sort of government. This is that heres our lives from doha, coming up in the next 60 minutes. A bleak picture of the Global Economy, the International Monetary fund warns of a global slowdown, partly fueled by the war and ukraine, lebanon, and israel are set to sign a maritime border deal. After years of negotiations. Russia says that Vladimir Putin could be open to meeting the u. S. President. Thats as more strikes, hit, the ukrainian city of zer, parisha ah, and fury on the streets of port a princess. People angered by high living costs and the lack of jobs demand, the resignation of haitis Prime Minister. And im far as my with sport with 40 days to go to the world cup. Leo massey is sitting out p. S g S Champions League game on tuesday, as he recovers from a comp injury. Ah, the International Monetary fund is painting a bleak picture of the Global Economy as the war in ukraine, sky High Consumer prices and Rising Interest Rates take their toll. In a report just released the i m f says the Global Economy grew 6 percent last year. In the 2nd year of the pandemic, but this year with the war in ukraine and gas supplies to europe, reduced growth fell to just over 3 percent. And its expected to get worse. Falling to 2. 7 percent next year. The i m f has raised concerns about inflation last year. The global rate was 4. 7 percent, but it sought to 8. 8 percent this year. At is predicted to start coming down slowly. The i m f says the global inflation will sit around 6 and a half percent next year. Lets go live that a washington out here as alan fischer is set with a sullen. Can you paid a picture of just how bad this last year has been for the Global Economy . Will he go back over the last 20 years, has been a few shocked to the whole of a Global Economy. You think about the financial crisis of about 15 years ago and then of course cove, but never has there been a coming together of events that has really wrought the financial markets. Youre talking about political insecurity. If you look at places like lebanon, where political insecurity is at the Banking System there and shall anchor where the actions against the president create political instability. But also the country is facing a massive punishing debt burden. And then you go to zambia, which is defaulted at one of the 1st countries to default after covert 19 talking about cov 19, youve got the extensive locked downs and china, which continue to this day, which have impacted the Global Supply chain. Now if you add to that, there is the war in ukraine, then you can see why this confluence of events is really exercising people here. Because not only is this a shock to the global markets, and people can talk in macroeconomic terms. But the reality is, for ordinary people around the world, ordinary things become much harder to do, such as heat your home or feed your children. Now were talking about europe and how the temperatures they are beginning to drop. And there is a concern that things will be very difficult there with an Energy Crisis because of what is happening with the war and ukraine and the disruption of supplies. The International Monetary fund isnt saying that the things are going to get better next year. In fact, theyre wanting that things could get worse, as there is a realignment of Global Energy supplies. So all of these things coming together as the i m f is world bankers as finance ministers meet here in washington d. C. Now this is the 1st meeting that theyve had in passing in 2 years because of coven 19. But many people who are arriving here realize that this time round because of all these crises, it cant be business is normal. Out 0 salad fisher at the i. M f in washington, his fully about t both now to explain just how much power the i am ash actually wheels the International Monetary fund, an institution that promotes Global Economic stability and perhaps a lender of last resort. Or a some say, an outdated organization whose policies damage the social and cultural fabric of a country. Lets take a closer look. The i m. F was founded in 1944 at Bretton Woods in the United States. Since then, its membership has grown from 44 countries to a 190 the i. M f says it monitors Economic Health of member countries and provides loans for governments in economic distress. 2 years ago at the height of the covey. 19 pandemic. More than a 100 nations requested bailouts on the i m f. His i correspondent alan fisher reporting on those loans for his headquarters here in washington. The International Monetary fund has put together a 9 trillion dollar port to help countries deal with the covert crisis. Most of that money has come from the g 20 the world richest nations, and more than 100 countries have asked for help. Now this is the i mass map of where money was distributed among those helped 2700000000. 00 to egypt. 411000000 to ethiopia. 361000000 to bosnia herzegovina. More recently, sri lanka received 2900000000. 00 after his economy faced collapse. It ran out of money for food, medicine, cooking gas and fuel. But critics of the, i may say it is outdated and ineffective of the 89 developing countries that received i m f. Loans between 19651995 more than half where no better off afterwards. In fact, 32 were poor. Other critics question whether many nations which borrow money from the i m f. Have the ability to repay now your sample of addition to the i m f and some sort of longer term, ah, where program is likely going to have to step in to help countries through that. Now the i m f is downgrading is forecast of 2. 9 percent Global Growth in 2023. It says that because of the increasing risk of recession and financial instability, far from being transitory as we thought inflation is much more persistent, high energy, and foot prices tight to financial conditions, lingering supply, disruptions, decelerate growth. All of the Worlds Largest economy economy. So now slowing down for better or for worse, many more governments may need to turn to the i m f in the coming months and years. My closing is the Global Policy had an equality for ox, from international. He joins us now. Live from oxford . Good chevy with so much. What do you make of this . Rather bleak report. I think its really, really serious, serious, the ordinary people all over the world here in the u. K. Force to choose between hating their homes. Anything, many of the people in developing countries facing impossible food bells on angle to feed that children. So yes, its a very dark picture from, you know, i met one thats very, very serious is as we heard in that report, or perhaps the i m. F, Outdated Institution that makes my often makes matters worse for people who live in country suffering from economic distress. I think its 2 things. Here is the policies of governments themselves. And here are Analysis Shows that governments around the world and making the wrong. Ready choices, for instance, 95 percent of governments during typing 19 failed to increase taxes on very rich people or corporation. So youve got plenty of government doing the wrong thing. And then yes, youve got a long history of very poor advice. Advice from the vice with, with money behind it. So i was advised, you have to take and thats often about increasing taxes on the poor is cutting spending on health and education and that often homes, ordinary people. So the, im, it needs to turn around and stole pushing policies that drive up inequality. But also governments around the world need to do the right thing. Were facing a colleague crisis, thats what they call it. Now, multiple crises on top of each of the governments desperately need that revenue. Lets get the rich people in the business. Really rich corporations, mitchell, extraordinary profits of alignment to pay this new thing. This thing is a free body. You talk about the, im f pushing countries to, to basically take austerity measures, cutting Public Services at schools, education, healthcare. But that sort of thing with the books have to be balanced somehow. Yes. And what were saying is that balance the books on the backs of the riches to note the. Ready poorest so i think one of the things we have is these immense Debt Repayment going to private credits is many based in london and new york. Lets see the army facing them down and saying, look, you need to take a hancock, you can continue to demand all of this money from a country marks ambia when people are facing starvation. So yeah, this Everyone Needs to take a hit about needs me, but best make the rich is private fashion and not punished poor people. Good to, to max manufactured, leave the being with us max, loosened that from oxfam, with china being the worlds 2nd largest economy, out to the u. S. Whatever happens there impacts people and Global Supply chains from beijing, patrick folk tells us what the i, m f says is in store for asian economies. Well, as the saying goes, when china sneezes the world catches a cold, thats certainly the case for emerging and developing asia where the i m f, has so forecasted to decline and growth from 7. 2 percent in 2021 to 4. 4 percent in 2022, thats a downgrade of 0. 2 percent. Since july, it large reflects the downgrade to growth in china to 3. 2 percent for this year to the countries slowest to growth rate in more than 4 decades. If you exclude the initial outbreak of the coven, 19 crisis in 2020 and the i m. F. Has singled out the slow down in chinas being a challenge for the Global Economy. Frequent curve at 90 loc dance across the country of taken that sol crimping, local demand, and causing significant supply chain disruptions. Its also deep into decline in home cells and part of the quality pressures on developers. Buyers concerned about the delivery or residential units of boycotting mortgage payments, threatening sector, which accounts for one 5th of chinas g d p. Theyre also fears of a spill over into the banking sector, which could weigh on medium, some growth. Now the i m f is recommending authorities enable a restructuring of troubled developers, so to avoid any broader risk to the financial system. And all eyes will no doubt be on the upcoming communist Party Congress for clues on how the country intends to navigate. Its way out of the coven 19 crisis. My cheerier is one of the countries dealing with a fall out of the ukraine war, even before russias invasion, the u. N. s World Food Program had to cut russians by 50 percent because of a short fallen funding. Ill just here as ahmed address is in port harcourt, to see how people there are being affected in the north of the country you are, most of the grain is prices have remain high despite new harvest. Yeah, in the south. Food is even more expensive is i really go you that a i d. I came to buy it. I signed one. Yeah. Budget for the and i didnt go out with go out the go button. Nigerians are bracing promo price increases in coming month because i do cultural production has been impacted by flooding at what lies a shortage and because the country doesnt define its own petroleum products, the why ukraine are forced up the prices of fuel on from partition elsewhere. Doctors without borders is reporting large cases of mud nutrition in the northwest of the country impacted by years of at times quite criminal objects in little piece of the country. Oh, bottom, insurgency of 13 years of luck with millions of people in need of food assistance. Just as go now pretty excited about and, and israel appear to have reached a historic agreement on a disputed maritime, bought up. Israels Prime Minister, yaya le pete says that his country has reached to deal with bay route. Ill just see ross Bernard Smith has the details from west jerusalem. Israel government says this is an Historic Deal with 11 on. It says itll strengthen Israel Security people, billions of dollars into israel economy and ensure the stability of israels border with lebanon. Engineers are already testing the pipe that will eventually extract gas from its kurdish oil field to israel, mainland. And i hope that in about 3 weeks time, once those tests are completed, they come, begin to pump gas. The deal has to go before Israel Security cabinet. Itll meet on wednesday, and then there are a couple of potential legal and parliamentary hurdles to jump once theyve been cleared. And i hope to be able to sign the deal with the lebanese for elections here in israel on november. The 1st, whether they managed to be that deadline or not, its still a significant diplomatic victory for israels Prime Minister jala pete. He is signing a deal with what is still considered an enemy country. The 1st time that israel signed any sort of agreement with lebanon, and hell be hoping to exploit that in the run up to the elections. It also for israel significant, unimportant lab on able is able to start exploiting, looking for its own gas and oil reserves in its own territorial waters. Because potentially, if i find anything, then that will reduce lebanons red lines on iran for few. Lebanons lead negotiated says the final draft bought a deal with israel satisfies all its requirements. The country had a number of concerns about the board or the 1st related to a board, a line marked by boys in the water that was created by israel as its forces withdrew from lebanon. And the 2000 a route asked for language and the draft to be changed so that this would not become an International Maritime border. Secondly, it objected to the con gas field in a southern lebanese exploration blog extending into israeli waters. Not field hasnt been explored yet, and while lebanon refuses to pay any profit, its share of cannot to israel. Israel says that it may fall under its exclusive economic zone. Lebanons 3rd concern, it wants the french oil, john total energies to work with it independently. And then he projects with israel say to hata is in beirut with more lebanons president michel ounce as the draft of the u. S. Mediator deal on a maritime border with israel is satisfactory and that lebanons demands have been met. Some officials are even calling it a historic agreement, and the most powerful political and military actor in this country has bella is behind the deal. Because the secretary general of the group has repeatedly said that it will support the position of leopard on top leadership. Now, no doubt this deal will bring economic benefits to a country in financial ruin. It. This country is in dire need of hard currency. International companies will now begin the drilling and exploration process in the past. Theyve refused to do so without security guarantees, without the maritime borders deal really in place. This morning, a delegation from the French Energy giant total. They were in beirut that they met the caretaker Prime Minister in achievement 80. And theyre expected to begin work as soon as this deal is signed. But israel get security guarantees. Lebanon has economic benefits, but theres also a 3rd party here. And that is, europe. Europe is in desperate need for gas. After losing the supply from russia over the war in ukraine, no doubt gas from israel is not going to fill the gap, but it will help help with europes Energy Crisis. And its really one of the reasons why it is believe the United States was really pushing for this major diplomatic breakthrough lebanons Energy Minister, while he had fired is with us now by from beirut. Good, happy with the show. Last week, we were hearing that lebanon was making last, but it demands that were unacceptable to israel. Today. A deal has been struck or changed, who compromised . Listen, it is my understanding that in fact, the last week was already quite advanced, and the rest was quite tactical. In terms of the end to tell you the truth, im not involved in the exact wording that was actually be so. Ready the responsibility is actually the key argument by his excellency, the president of the company who is the actual sponsor and the driver behind all this effort with the support of the president and also a counselor. So at that state inc, that we have just for the last a step, making sure that this agreement is that these faculty, lebanese government and his excellency, the president of already communicated and look forward to, to just finalizing this with the success and the for the opportunity it will open for live because they only an agreement asian of the boarders. But and even as importantly, equally importantly, it is in agreement that commits our International Partners with andy and future wants to actually exploration activity followed by development. Hopefully activity in alliston. But my best bet is how much, how much gases is under lebanons territorial waters. How long before it can begin to be pumped and what difference is it going to make it to lebanons beleaguered economy . So it would make it. Ready cuz the whole, the quantities unreasonable wanted ease ones that invite us to be optimistic, the initial study 6 weeks that these are, that would have done. And the solution before that was done by, as the consortium running the, the exploration activities in block 9. 00 trillion cubic feet of a gas, which wou