Its debt with many saying its not a case of if but rather when the Government Debt currently amounts to one hundred fifty billion dollars and as well as one of the Worlds Largest exporters of oil but plummeting prices and mismanagement have crippled the country. Thank you note that symbolizes the magnitude of venezuelas economic crisis really early this month the countrys president unveiled the one hundred thousand dollars bill its worth about two dollars only a year ago the one hundred dollars bill was the countrys largest but inflation has skyrocketed the only thing growing in venezuela these days some jest is the number of zeros on the banknotes Everything Else like food and medical supplies continues to shrink lack of hard currency has left the government unable to pay for imports. The countrys debt has become unsustainable president Nicolas Maduro is hoping to convince foreign creditors of his proposals for restructuring it. Out of him but only for the investors of the world the holders of venezuelan debt i have the moral to summon him on of them because to caracas and begin the process of refinancing and renegotiation of the external debt. He hopes creditors will extend repayment loans lower Interest Rates and even agree to cancel debt altogether if no arrangement can be reached the country faces bankruptcy cutting it off from Financial Markets and unable to borrow more money meanwhile for ordinary venezuelans the suffering continues. And for some more analysis lets go straight to wall street tarkus correspondent hasa louise daro well said it was venezuela has been embroiled in economic turmoil for quite some time what do investors think will happen near a default after all. We will probably know by monday what will happen kristie but so far investors and i point out that caracas might instead default on its sovereign debt a part remain current. Adept and obligations and why is that basically because this submarine has a few hours as a broader greater risk and size about pedophiles as has for example oil characters and by protected them adore can keep exporting oil and getting those the revenues for now been as well or owes money to wall street but also owes money to china russia brazil and multilateral lenders and furthermore experts say that any kind of default would not be a risk free domestically sense it could impact their stability of my durands inner circle now you mentioned some of the key players russia is one of them the country is holding a good chunk of venezuelas debt and has already signaled its willingness to restructure it how likely is that. I disappoint grease job after several rounds of sanctions against when a swell up from the u. S. Russia said to renegotiate loans are tied to venezuelas citgo refining subsidiary here in the United States it will need the approval from day obviously of our foreign control over deposit three years to russia has provided caracas away the financial assistance. While loan a Russian Oil Company was a net gain around forty nine point nine per cent stake in see it go and as for now the usa government includes subsidiaries you need to run on deborah negotiations louise darrow in new york thank you so much for your analysis of britains chief negotiator for brics is david davis says the u. K. Will not create a border inside the United Kingdom as part of a deal with the European Union this follows talks with the e. U. Counterpart Michel Barnier on friday in which the border with ireland was a key issue our new meanwhile effective the set a two week deadline for britain to agree to pay its exit bill before further talks can happen this comes after as british Prime Minister to resign may unveiled legislation about when britain will leave the European Union which will be on march twenty ninth twenty nine thousand at eight pm eleven pm brother local time heres what Britains David Davis had to say after the talks theres no doubt that we have made and continue to make including this round significant progress across a whole range of issues across the board that may prove progress towards resolving some really difficult questions and then of course well continue to place between now and decent guy. Well first Economic Data did manage to shine a bit of light on the rather grim overall outlook for the u. K. Should it come to a harbor exit british industry had the sharpest rise in production this year producing zero point seven percent more goods since september than the did in august according to government statistics the figures exceeded analyst expectations as demand for British Goods rose abroad a weaker pound has made u. K. Exports cheaper since the brics it reference. Earlier i asked our financial correspondent whether these fresh figures have proven the bracks a doomsayers wrong course the industrial output is a very important figure but also other things need to be taking into consideration just this week it was also released at the british inflation rate its at the highest point at the moment since april two thousand and twelve also housing prices a very important factor for the economy as well has not half not gone up again after the brics that referendum so with this latest news breaks that supporters might say that the end everything is going to be good for the u. K. But analysts here do have grave doubts about this then your cope reporting from frankfurt there now agreement put in jeopardy after the United States was drew earlier this year is one step closer to completion japans economy minister told reporters that the eleven nation still committed to the Transpacific Partnership or t p p have agreed on the basis for a new deal but that work more work needs to be done he made the announcement during an Asia Pacific Forum in vietnam among the guests at the summit was us President Donald Trump whose decision to withdraw from t p p called the entire agreement into question used the opportunity to lash out at countries he accuses of unfair trade practices. Donald trump came to talk tough on trade and he delivered outlining his position on countries this time a name he accuses of engaging in on whatever practices they ignored the rules to gain advantage over those who followed the rules causing enormous distortions in commerce and threatening the foundations of international tray itself he went on to express his clear rejection of Previous Free trade zones he says agreements that dont benefit the u. S. Are a thing of the past i will make bilateral trade agreements with any in though pacific nation that wants to be our part and that will abide by the principles of fair and research. What we will no longer do is enter into large agreements that tie our hands surrender our sovereignty and make meaningful enforcement practically impossible chinese president xi jinping couldnt let that slide and challenge trumps comments albeit indirectly by expressing his support for free trade. But your solution here change over the last few decades globalization has contributed significantly to worldwide growth. Indeed it has become an irreversible historical trend. When trump withdrew from the Transpacific Partnership back in january its future was called into question but despite having their differences the eleven countries remaining appear determined to push ahead with this without the United States. I believe that thats the best way for us to or generate wealth. And weve been for everybody concerned. Now that america has taken the position to withdraw we respect that decision but it evan countries that by japan were trying to come up with new version just how the new deal will look remains unclear and the eleven nations have come up with the basis for a fresh agreement hammering at the details will be a bigger challenge. The Virtual Currency but current has dropped by eight thousand dollars in value in just forty eight hours thats after hitting an all time high this week on wednesday the cryptocurrency peaked at over seven thousand eight hundred dollars after a Software Upgrade was called off that could have split the Digital Currency into well interest and bitcoin is still huge traditional investors are staying away fearing that government regulators may crack down on the currency. Now the jedi knights of Science Fiction blockbuster star wars have been granted a new mission this name is planning a brand new trilogy of the saga the entertainment giant hopes that more interactive battles will call nerves about as moderate Quarterly Earnings profits were lower than expected and its t. V. Cable and film divisions exactly when the new Star Wars Trilogy will begin is not clear but disney star crow is two and a half percent on the news in fridays trading session. Lets see if the forces with. The movie that wraps up our show as usual if you want more check out our twitter feed or our Facebook Page thanks for watching and have a great weekend. Your children like chocolate. Without your smartphone my. Tomatoes some more. As we go about our jamie minute human rights song from the last one mind. Being able hands on in the twenty First Century starting december second song to double. Their black living in germany. She is reminded what that means on a daily basis presenter. Not being able to blend in and i was. Taking a Holiday Group and being you know different than the rest. She travelled across germany to meet other black people and to hear their stories. It seemed that. I grew up in a white family in a white neighborhood it was definitely a challenge. She decided to put me up for adoption. The main thing was to keep your head down and your mouth shut of course of the face like this i could never completely disappear if you see all these stereotypes about africa its good to see you. Do something for your country but youre still the black you are from
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