the global economy is expected to grow a paltry 3% over the next five years, according to the head of the international monetary fund. her comments were made ahead of the imf and world bank s spring meetings, which kick off today in washington. our north america business correspondent samira hussain is there. high inflation continues to plague countries around the world. central bankers are raising interest rates to try and slow down those price increases. as a result, however, is we have some of the weakest growth projections by the international monetary fund since the 1990s. now, with the world s finance ministers and central bankers all meeting in washington this week, the increasingly fragile global economy will certainly be the focus, along with ways for countries to try and mitigate some of the negative impacts of those interest rate rises. now the high inflation, however, is already having an impact on poorer countries, pushing them further into financial distress. gi
so is the debt burden of many of the developing countries and the higher the interest rates the bigger the debt burden, so it is very tough. i thought i m saying that they would come back to pre pandemic level shortly, the interest rates, is a courageous statement.- courageous statement. yes, courageous, courageous statement. yes, courageous, because - courageous statement. yes, courageous, because there i courageous statement. yes, i courageous, because there are courageous statement. yes, courageous, because there are so many moving parts. they have a close eye on economic growth, but i know thatis eye on economic growth, but i know that is a lagging indicator, tells us what has happened in the past. interest rates are a blunt tool to affect future behaviour and all the time they are trying to work out what our future behaviour might be. it is not an exact science. m0. what our future behaviour might be. it is not an exact science. it is not an exact science. no, it is not, it is
for a range of records, whether it s about obstruction of justice investigations, whether it s about the tax returns, or whether it s about these financial records. but now when you have a federal judge saying, it s not my decision here to decide whether or not this is acting properly, to get into the motivations of members of congress, to get into whether political considerations, that s a significant statement, essentially saying, this is congress right to oversee the administration. the administration has to turn this over and politics is not something that this judge can make a decision on. so we ll see how other judges ultimately decide, but that is a real, really undermines what the white house s pushback has been, as democrats have sought records on a whole wide range of topics, and at least in this aspect, appear to be successful. and on another very sensitive matter, you mentioned don mcgahn, the former white house counsel, the house judiciary committee, congressman jerry n
mueller report and that in his words he is a loser who sadly plays right into our opponents hands. amash clear lly striking a chor with president trump. other republicans sort of echoed those remarks, including republican national committee chairwoman rhonda mcdaniel. she put out a statement saying it s sad that the congressman is in her words parroting democratic talking points. other republicans like senator mitt romney of utah a lot more respectful of his point of view. still, though, he does not agree with justin amash on whether the president committed impeachable offenses. listen to what he told jake tapper on state of the union sunday morning. i respect him. i think it s a courageous statement. but i believe that to make a case for obstruction of justice you just don t have the elements that are evidenced in this document. and i also believe that an impeachment call is not only something that relates to the law but also considers practicality and politics and the american p
inflated his wealth and essentially committed fraud of sorts to try to get this kind of information. so the democrats said to this company, give us ten years of the president s financial records, so we can understand believe it or not the president, he was a private citizen, acted improperly in any way. and that s what the white house, that s what the trump organization fought and tried to get this court to side with them, which they at the moment appear to have failed to do so. but that statement you just read, wolf, very significant. because that is the essence of several white house arguments to try to deny these democratic requests by saying, look, there is absolutely no reason for congress to seek this information, because there s no, quote, legitimate reason for getting this. there s no legitimate legislative reason. they argue, this is all politics. intended to harass the president. they have said that in a number of letters back to congress, as they tried to deny these demands