A green economic recovery post pandemic maybe green power could be the death knell for crude. And saudi arabia the oil giant whose Economic Diversification has led it to the north east of england but critics are accusing the kingdom of trying to sports watch its human rights record. Look we all know were in the middle of a storm like no other right now and really its no one even if you are a country with oil sure some of the bigger players are doing ok though even saudi arabia is cutting subsidies and raising taxes but small opec players are really taking a hit from the coronavirus pandemic and Oil Prices Sliding into negative territory however briefly think about oman and behind both could receive economic support from the likes of saudi arabia and the u. A. E. But our focus is on those resource rich nations that with oil prices that are around 30. 00 a barrel may have to turn to. The International Monetary fund and start with algeria which has seen its debts soar to 45 percent of g.
Getting back to work versus the Public Health interests here billions upon billions of new debt has been issued, as companies try to fortress their cash hoards. Well talk about the big debt bomb that may be looming and later, the cleveland fed president horror retrloretta me join us to talk recovery and whether the rates are really on the table or not cannot wait for it. Tyler, thanks. Its the financials and the Energy Sectors which are leading the declines again today for more on the selloff, lets get to Robert Pisani hi, bob. Hello, there. And two buckets here this is about the reopening and its about questions on the valuation of the market and the big rally weve had. 60 of the losses weve regained here thats whats going on here. And you can see it in the sectors. Tylers absolutely right banks just having a horrible week were down like 13 for the banks this woke. This week the russell 2000 is getting clobbered. Retail has been drifting lower as well. Energy down about 8 or 9 , resum
A bigger share of indonesias multibillion dollar finance industry. May 1st was an important day for the worlds poorest nations it was the day that the rich club of g. 20 nations gave debtors a payment holiday until the end of the year the hope is that debtor nations can use the money to pay for health care during the pandemic despite more than 100 countries applying to the International Monetary fund for emergency aid the i. M. F. And world bank havent been so generous insisting that nations keep paying interest on debt although the i. M. F. Has offered some relief to 25. 00 poor nations which amounts to 200000000. 00 which lets face it isnt that much of nations really do need help nigeria has received 3 point 4000000000. 00 from the i. M. F. With debts of only 30 percent of g. D. P. Youd think the country couldnt get into trouble but its dependent upon oil for 90 percent of its export earnings with crude prices cratering it has little room to service its debt which is estimated to tak
When you saw that document for the 1st story we listen to after world war saying youll be in to go build United States of you but we will not be with you we meet with global news makers and talk about the stories that matter on the ground 0. Hello im adrian figure this is counting the cost on aljazeera a weekly look at the world of business economics this week as the g 20. 00 offers a debt payment holiday to the worlds poorest nations to fight the coronavirus pandemic is it time for private investors to do the same. Southeast asia as garment workers in the industry pay a heavy price due to the pandemic millions of jobs have been lost despite patchy government support. The sharia compliant tech start ups scrapping for a bigger share of indonesias multibillion dollar finance industry. May 1st was an important day for the worlds poorest nations it was the day that the rich club of g. 20 nations gave debtors a payment holiday until the end of the year the hope is that debtor nations can us
Robert next. Announcer this is Washington Week. Corporate funding is provided by life isnt a Straight Line and sometimes you can find yourself heading in a new direction. Fidelity is here to help you work through the unexpected with Financial Planning and advice for today and tomorrow. Kaiser permanente. Additional funding is provided by the estate of arnold adams and koo and Patricia Yuen through the yuen foundation, committed to bridging cultural differences in our communities. The corporation for public broadcasting and contributions to your pbs station from viewers like you. Thank you. Once again, from washington, moderator robert costa. Robert good evening. We start with sobering numbers. An update on the health of the nation. More than 95,000 americans have died due to the coronavirus paemic with nearly 1. 6 million nfirmed cases in the United States. Next, a spike in the joblessness rate, almost 2. 5 million americans filed for unemployment last week, pushing the total to more t