Many of them this happened . Maybe 6 were named do serious use fire now came and they knew they would be arrested. This all started at a few blocks away or the day really all one gentleman, he said his grandparents are bought the house, but now you are doing i see my job as carrying on their legacy as the jews who fundamentally see their role as standing up for state less than a press people out throughout the world. And i see no better way to do that. Then fighting for peace and the ceasefire and gaza today. The take one more look at the one by one just to give you a sense of how different this sentiment is from the elected officials building. There was a hard one representative. It has to offer a ceasefire. You know, well thats it for me down jordan nor a car will be here himself with the with much more news counting, the cost is an extension of the Award Winning in debt investigations that give compelling in science inter toes from asia and the pacific one. 0, one east. On out to 0. The hello im of the inside. This is counting the cost on al jazeera. You make me look at the world of business and economics this week and time neighborhoods destroyed no electricity, fuel food, water as well and poses a total located on gauze is moving 2300000 palestinians also this week as well as economy faces new on assess and cheese from the gospel, we take a look what it could mean for israel economy. And for the 1st time in 50 years, the m. S. M. Will bank, who but annual meetings . Only applicant confidence, discussing economic growth, Climate Change debt, and any quotes. Israels declaration of new on guns are following a surprise ministry offensive by how most has jolting Global Financial markets. Oil prices surge before falling again to 17. 00 a barrel is physical wind, a regional conflict to called Goldman Sachs full cost. The brent crude could climb to a 100. 00 a barrel by june. 8th, the conflict drags on High Oil Price would further complicate efforts to contain inflation and a fragile Global Economy. But what is the initial cost of the war on the golf . A strip and on israel . Lets take a look. First of the grim, a humanitarian, an Economic Situation in gaza. The gaza strip has been on the and is rarely lined and c blockade since 2007. It is one of the most densely Populated Areas in the world moving 2300000 palestinians live in an area of around 364 odd slacks and offices. United nations says the Unemployment Rate in gaza is one of the highest in the world. 70 percent of the young graduates dont have jobs. And navy hosp the population is out of luck. 64 percent of households are classified as food in secure and depend on humanitarian aid. The situation in gauze and before the war was already done, its now expected to get even worse. Is 2300000 residents where the face shortages of more test food and fuel on a daily basis. 40 percent of the water supply is lost on the way to consume is due to the crumbling infrastructure system. More than a 112000. 00 families without the regular Food Supplies because of these rarely asked strikes. And the 4th closure of you and release, and what agency, Food Distribution centers, electricity and fuel show which is a crippling farming and fishing meetings is even less food. And the only local electricity producer has shut down often running out of fuel as well as wells cart. Menissi operation against garza is not the fuss. Between 282021. Israel launched full major offensive in the besieged enclave. Of this conflict, palestinian say is different in the past 5 days of israels bombardment, at least 330000 people fled that homes. And none of that is likely to rise because it is going to need billions of dollars for the reconstruction of homes. Businesses, water and electricity infrastructure as well as the hospitals that have been damaged or destroyed by is really strikes. Now back in 2021. These really ministry offensive destroyed 1500. 00 Housing Units and costs the goals, the economy moving 479000000. 00 from 2006 to 2022 garzas agricultural sector. Last about 1300000000. 00 as a result of israels blockade. And multiple attacks to, to discuss all of this on join bind, bus inquiry from armada in the occupied westbank. He is a former Palestinian Economy, minnesota, and currently the ceo of the fall and the cat group. Thank you so much for your time, sir. So israel has now imposed a complete seas on gaza that includes the band of food, electricity, and fuel entering this, the strip give us a sense of what impacts that is likely to have on the people and the families that live in gaza. What youre seeing and goes up to date, simply put, and this has happened over the past 6 days. A simply was crimes, and the situation is really a diet. I am in Constant Contact with the of the stuff that we have 22 employees, that it 2 of them have most homes. One of them the has just small damages. But the, youre speaking about whole neighborhoods being wiped out. It is happening is unprecedented. And the needs to be stopped. Golf, a sole power station has now run out of fuel without fuel. How does a population survive . Well, uh, i would like to emphasize the fact that even before this latest war, because a has been suffering from huge power shortages and maximum for hours. So people in gaza eh, have depend on the generators. But the 5 agend that 8 those that, that they can and get the keys for the 4 hours of, of electricity they. Now what is happening is that also these private generators have either even being blown up by the explosions, by the end bombardment, or, or have it on up a few of the weve been in contact with the main hospital in gaza. See for hospital. And theyre telling us that theyre also having severe problems that tell us a bit more about the medical situation there because the hospitals rely on aid coming in. And that is not happening. No, thats true. Unfortunately is not coming through and the, the mother because tuition is definitely very biased and does a, has only 2 small factories folder manufacturing pharmaceuticals. I wasnt contact with the, with the 2 factories. And of course none of them are working. One of that was severely damaged. So the situation for medicines is as becoming also bio and a less and we can push for the entity and the relief to start entering into gaza. Definitely, there would be lots of huge catastrophes for them, for the people that are due to the lack of medication, 300000. 00 people in total so far i believe have been displaced from their homes wherever these people go in because theyre obviously not allowed out of casa, what were seeing is that the school is a public buildings. They of course, the government buildings, but other buildings on the web. Buildings are becoming the only refuge for people that and the, the bombardment. This time is started at this cost of the right to undermine neighborhood. For those of you who dont know guys, uh they might be. But who is that . What you can describe look a bit more an upscale neighborhood in gaza. It is not the refugee camp in the inhabitants the of the, in the middle class. So time of the class a and the, some of the buildings, dad, or mazda story buildings, and the, youre seeing the head to the hot core of the guys, the community, the headquarters, because of society. So what do people go . This is a very good question. I, i was in contact with a doctor friend of ours, and he has do with citizens. He has a greek citizenship. And through the embassy they evacuated him to go to the hosp checkpoint, to go to egypt. And on the before that, each that off with like one or 2 kilometers is going back to the, the check point that they bought the crossing. And so basically i called him back, he said with no back in the, in gaza, of the neighborhood is almost completed the state that and definitely we dont know where to go. Mr. Cory. Many guardians were earning a living by working in israel were hearing now reports. Many of these jobs have now been terminated. What impact is that going to have on the economy and gaza . As a result of the shortage labor shortages are, isnt allowed around 15000. 00 laborers to work in is a this became the most influential and most it is source most important source of income for thousands. However, it could hardly make it that the cost of a few of the economy of gaza is especially with the situation over there that has been and pushing for the decades. But still it became a very important source of income. And its important to point out that before the last war, as of a new official 70 percent of people of gaza depended on the date from, from different places. The. Its the, the situation, unfortunately a with, with these labels is very bad. We are not getting many of those labels in to testing intended to the end westbank different cities. So its also another human catastrophe that is coming here. And youre speaking about the thousands of people that are left with nothing in the west bank at the time it is on the, on the receiving end of the environment and gaza. So its, its, the situation for them is very about. Thank you so much for your time, but the inquiry from armada and the occupied westbank for my Palestinian Economy minister. Thank you. Is really stokes and bones fell up to how much launched its military operation. And many businesses and schools have remain closed. American airlines and some european carriers have suspended slides. Israel, well, governments have deadlines to be capital when flying in is riley space analysis by radar bulk switch specializes in navigational data, shows that about 30 percent of slides too. As well, where cancelled in 3 days. 1000 of the 3000 slide shut duel between that saturday, october the 7th when the will began and wednesday, the 10th will ground it. On the other hand, the central bank announced it was setting up to. C the 1000000000. 00 and farm was of the shore of the national car and see the shackle is riley carr, and see has already lost roughly 9 percent of its value compared to the us dollars so far this year. And is now full into a 7 year lo. Joining us from london now is iran, yesterday of a member of the center for micro economics belong in school of economics. He is also an economics professor at the a town butler school, if economic at tennessee university. Thank you so much for your time. 300000 old re as rarely as have been taken out of the workforce to find in this will presumably that will have an impact on as well as the economy. Before we discuss economic costs, let me point out the obvious, the real big cost of the human cost. In israel, children, women, and man has been killed, had been kidnapped, have been wounded. Garza is being bombarded and people are killed. There. There is to terrible human suffering and this succeeds by far, any cannot be costs as were going to talk about. And as to your question, yes, it can be something in the order of almost 10 percent of the work force that could be mobilized to the war rather than doing normal work. And tell us a bit about these reserve is what, what all the edge on. So if they are not doing those jobs, what sort of impact are we talking about . They come from all over the economy. Its not restricted to one particular sector and the economic costs, but as well in this context is due for on the one hand you news, the output produced by these people into various industries. On the other hand, you have to finance their mobilization into the war effort, which is obviously costly. Its not that they the interest fight will do any duty they use military capital. They need to be paid by the government and so on. So its that you lose output and you create expensive. Were seeing the current seeing the shackle. Take a bit of a hits. Its folded into a 7 year know over the last few days. What is your outlook for the currency . Basically on pessimistic about currency, although with current c markets, its very dangerous to full cost. The short term, even the long term is pretty difficult. The shack kind of has been depreciating since the beginning of the year because of the very substantial negative political developers within israel. So each went from around 3. 00, roughly a bit less at the end of 2020 to 2. 00, over 3. 80 recently before the war, and now it has shot up to the region of 395. 00 im going on to for i believe you to attach for shackles to the dollar at some point. So its a combination of factors for you or, and war. I dont see the shackles trending, and by very much the possibility of that is remote at this stage. I, the st cause of the uncertainty is all far will the depreciation go . Well, the 2nd would appreciate substantially more or much less so, but i dont see a real possibility soon of an appreciation of the shadow. Right, and presumably the same sort of reasoning will Impact Investment in invest a sentiment as well. Exactly, investment has been full in pre war because of the great political developments, especially investments in the high tech sector. And investment will surely full. Uh now, oh, continue to fall or the full will be worse. But obviously that depends a lot on the severity of the duration of the war, which at this moment is very unclear. We talked about the cost of the war on israel. The us has Just Announced an additional 8000000. 00 in aid to israel. But obviously with the ongoing one, ukraine. Now this was how long realistically, do you think the United States and all those will continue to provide that sort of Financial Assistance to as well as well. In normal times, any recent decades is around, it has not really needed at all. And the american assistance and the assistance that was there was mostly for many pre purchases. And a big chunk of it was actually on american exporting funds. So hed benefit to the us as well is run is no longer this poor economy reliant on the us. And in fact, it is running normal times can stop us assistant altogether. And i would actually advise these riley government to do so. The Current Situation may be helped by us assistance, but i view it more as a political gesture and a signal of support rather than any major us economic a. Again, israel is not in the situation of a few decades ago where hes actually really needs american assistance. That said, there is a point about munition in arguments that what is what is in need of us assistance. And that again depends on the duration and the severity of the war. For example, if the war extends to because the law 11 and to conflict with the wrong and so on. Many thanks for your time aaron. Yes, she economics professor at the time, the gas school of economics at talladega university. Thank you. Thank you to the wells, finance ministers in Central Bank Governors have met in more cash more. Okay. To discuss ways to tackle Climate Change, natural disasters and that restructuring. The m. S. And world bank gathering, african nations cold for reforms on fed representation. How should how about our reports now from our cash. Crystelina georgie, ava is on the charm offensive. A prosperous, 21st century is only possible with prosperous africa offering greater Economic Cooperation between which western nations and african countries. For the 1st time in 50 is the International Monetary fund of the wealth bank have held the annual gathering on the continent. The to Global Financial policy makers of facing growing backlash from african nations in the last is the capital with aging populations. If we built the brits for capital to travel ways will make a difference. I think it will do well. The wealth will do well. Whats african countries wont lenders to respect the sovereignty and stop issuing orders, but above all, the want an overall of the Global Financial system for you is poor. Countries have been calling for the reform of the International Monitor system, seeking a biggest say, you know, i may have decisions. They also want to end the condition of in 3 months. It will start to measures and spending costs in exchange for loans, a practice, they blame for the political and economic wells. Host morocco is a long time bottle in the aftermath of last month. Devastating earthquake. The item at approved a 1300000000. 00 loan for the building and recovery. But lowes and credits may not make much difference. It means growing challenges when we are having the conversation of how much Financial Resources are available. And we need to choose between Food Security dept. The claim is fine. Is a condo make . I would say investment, we need all of this and this is our i would say, pledge to gather the Global Economy, has changed. Finance members have so coast quote as a voting powers based on that economic performance. China, as quote is less than japans. Badging wants that to change to reflect its growing economic clout, Global Economic outlook for 2024 is green growth in some countries in the middle east and north africa has fallen sharply compared to last year will in ukraine, foot shortages, and the inflation was slow Global Economic recovery. Thats why were trying to do in the course of this entire process of this annual meeting. Am seek approval from our governors is to redefine the vision of the bank to be bad of it advocating poverty. But on a livable plant. And what we mean by livable plant is exactly these challenges of pandemic. Some Climate Change and food and security and fragility, and those kinds of issues that peter far too slow recovery is bad news for countries struggling to repay debt lenders, dishing out spending on bottles may suffer for years. Argentina is struggling to restructure its 4. 00 to 3000000000. 00 am. If loan agents bones of tumble following moodys rating caught by his done some be a gunner and many of those may not be able to repay the creditors. Ok to this, urging the im a world bank to write of debts, warnings up to restructuring, wont solve the problem. Actually meant by counting the cost by the cash. Well have i me