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Isa Soares Tonight
Russian Missile Strikes Continue Across Ukraine; NATO Steps Up Security Around Infrastructure; Human Rights Groups Sound The Alarm About The Brutal Crackdown On Protesters In Iran; Lebanese Maritime Breakthrough; JPMorgan Chase CEO Jamie Dimon Warns Of U.S. Recession; Mozambique Fights To Drive Out ISIS-Linked Militants; Road To COP27. Aired 2-3p ET
Aired October 11, 2022 - 14:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ISA SOARES, HOST, ISA SOARES TONIGHT: A very warm welcome to the show everyone, I'm Isa Soares. Tonight, another day of relentless Russian
missile strikes across Ukraine as President Zelenskyy appeals to the West for help. We are live in Kyiv this hour. Then NATO is beefing up security
around its critical infrastructure after the recent sabotage of the Nord Stream pipeline.
I'll be speaking to Estonia's foreign minister. And human rights groups sound the alarm about the brutal crackdown on protesters in Iran. But
first, tonight, Russia is launching fresh airstrikes on cities across Ukraine for the second straight day. And Moscow confirms they are targeting
Ukraine's energy facilities.
Ukraine's defense minister says that is a war crime, meant to create unbearable conditions for civilians as Winter approaches. The G7 held an
emergency meeting earlier where Ukrainian President Volodymyr Zelenskyy urged his allies for an air shield, so quote, "the key element of Russian
terror will be cut off at its source."
Well, the U.S. has already pledged to send advance air defense systems. One former Russian official says terror is the only thing left in Putin's
arsenal. The director of the largest British Intelligence agency agrees. Have a listen.
(BEGIN VIDEO CLIP)
JEREMY FLEMING, DIRECTOR, GOVERNMENT COMMUNICATIONS HEADQUARTERS: The cost to Russia in people and equipment are staggering. And we know and Russian
military commanders know that their supplies, ammunition are running out. Russia's forces are exhausted. The use of prisoners as reinforcements, and
now the mobilization of tens of thousands of inexperienced conscripts speaks of a really desperate situation.
(END VIDEO CLIP)
SOARES: Jeremy Fleming there. Well, Fred Pleitgen joins me now from Kyiv. And Fred, I think it's clear from what we've just outlined for our viewers
is that Putin's barrage of missile strikes, of course, that we've seen in the last 48 hours, has had the opposite effect with President Zelenskyy and
his allies. In fact, instead of terrorizing them, it has united them further.
FREDERIK PLEITGEN, CNN SENIOR INTERNATIONAL CORRESPONDENT: I would say that's absolutely the case, and that's certainly the case for President
Zelenskyy. And it seems as though the western nations as well as the -- was at that urgent G7 meeting, once again, calling for more of those air
And it's quite interesting because, you know, we've heard the Germans now urgently also want to send an air defense system to the Ukrainians as well,
a very modern one, a western one. And also have three more that they also want to send. So, it really seems as though air defense is taking on a new
sense of urgency.
Also, among those who are supporting Ukraine against these barrages of missiles that the Russians keep sending, because one of the things that
Ukrainians have said is that they were able to take down -- have been able to take down about half of the missiles that are being shot towards --
fired towards their territory.
However, one of the big things that's hampering them is they say they only have the Soviet era anti-aircraft systems, and they don't have them in
sufficient quantities to really take down all of the drones and also cruise missiles that are being fired their way.
And I think one of the interesting things that we've taken from today, Isa, I've been around Kyiv today throughout the better part of the day, and I
think it's not only President Zelenskyy who feels emboldened, but a lot of people here on the ground as well. it was quite interesting because we were
at one of the impact sites of one of the strikes on Kyiv that happened yesterday.
And there were a lot of people who were already coming out, there were people who were helping to clean up, and just trying to get back that sense
of normalcy, which is of course also a show of defiance as well. And that despite the fact that this early -- this morning as well, we had 5 hours of
air alarm -- air raid alarm in the city once again here in Kyiv.
There were apparently some rockets that came down or missiles that came down in the vicinity of Kyiv. Apparently some were shot down on their way
to Kyiv. But at the same time, once that air raid alarm was taken away, people came out once again and showed themselves to be very defiant in the
face of these strikes they're facing.
SOARES: And the primary target, of course, of these strikes were energy facilities. And we heard obviously Russians admitting that. Are you still
seeing power outage? What impact has that had?
PLEITGEN: Yes, we certainly are. And I think that it does certainly have an impact, and I think the Ukrainian themselves are acknowledging that it
has an impact as well. One of the targets that apparently was hit today was a power facility, energy facility -- several energy facilities actually, in
the region of Lviv. So, they were hit, also some other places have energy facilities were also targeted, and hit. And it's causing some problems,
definitely, for the Ukrainians.
It was quite interesting because for this evening, the Ukrainians were urging -- the government was urging people to consume as little power as
possible, simply because they are in such a difficult situation.
And obviously, they see that the Russians are purposely targeting these areas, and that could obviously make it very difficult not just now, but
very difficult in the Winter time as well as Winter approaches. Right now, the weather is still very good, it still very warm, but this is something
that could be a longer term problem for the Ukrainians. They're obviously trying to fix things.
And one of the things that they're banking on is they believe, also -- I spoke actually to the -- to Ukraine's national security adviser a little
earlier today, he also believes that the Russians are running out of those ammunitions that can be used for those longer distance strikes that are so
dangerous to the power grid and to other critical infrastructure here in this country, Isa.
SOARES: Important context. Thanks very much, Fred Pleitgen for us in Kyiv this hour. Well, observers of Russian President Vladimir Putin believes
this week's sudden and deadly airstrikes on Ukraine are proof that he is not coming from a place of power, of strength. They believe he is grasping
for whatever straws he has left, and is facing growing pressure from inside Russia.
Here is what one analyst told me earlier.
(BEGIN VIDEO CLIP)
GREG YUDIN, PROFESSOR, MOSCOW SCHOOL OF SOCIAL & ECONOMIC SCIENCES: Well, I don't see, definitely, this as a sign of strength, it's rather a sign of
desperation. And even more than that, it rather reflects a desire to solve some internal issue. It has zero military sense. But it's a reflection of
growing pressure from the hard-liners around Putin.
First, he gave in and declared this mobilization, which is hugely unpopular in Russia. And now, right after the bridge was blown up, he appoints
General Surovikin, who the hard-liners have been lobbying for, for a long time. And now, he starts this shelling of civil infrastructure, once again,
something they were pushing for, for a very long time and something he resisted. So, now, he appears no longer resisting that. He kind of gives
into their threats. Looks like he's Increasingly dependent on them.
(END VIDEO CLIP)
SOARES: Nic Robertson is here with me for more. And Nic, there's a lot for us to get through. Let's break this down into Putin's ambitions and then
the reality on the ground, and the reality from what we've been talking about and our correspondents have been showing on the ground as well, is
that these missiles that we have seen, the barrage of missiles, so something very little to kind of shift the momentum of the war.
It's still very much in Ukrainians -- in Ukraine's favor.
NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: Or even change what Ukrainians on the street are thinking.
SOARES: Yes --
ROBERTSON: They're just resisting just as much as they were before. And I think President Zelenskyy got to this point with President Putin in his --
in his address to the G7 earlier today, very much in keeping with what that analyst was saying. Which is --
SOARES: Yes --
ROBERTSON: Putin has the capacity for further escalation. And If the assessment is that Putin is weak -- and we've heard that from Jens
Stoltenberg, NATO Secretary General today, you had Sir Jeremy Fleming, GCHQ saying the same thing. So, if he is more beholden now to the hard-liners,
that sort of fits the scenario of what Zelenskyy is describing.
That, this is Putin on the back foot. But he can do more of the same, again, Darwinian in a way --
SOARES: Yes --
ROBERTSON: But just doing more of the same is not going to change the effects on the ground.
SOARES: And we'll talk about not just more of this same, but also who he's looking to, perhaps, to help him out, friends and so forth. But we saw
today very much a united NATO. United allies, Ukraine's allies. And they really seem to be all on the same page, at least, all on the same page to
try and help with the air system, the air defense systems that we were talking about. Talk us through what the U.S. is promising, Germany, I think
the U.S. is trying to expedite this.
ROBERTSON: The U.S. is trying to expedite two of their systems --
SOARES: Yes --
ROBERTSON: It's a product -- a sophisticated missile defense system that was made in conjunction with Norway. Norway hasn't spoken about this
publicly, but it's very clear this is a joint system. The United States is not going to get ahead of Norway's positions. So, this is -- this is a
joint position that reaches outside of the G7, Norway not a member there.
But the United States is going to provide Ukraine with these better air defense systems. And that was a very key point for President Zelenskyy,
again, talking to the G7. The defense systems, the accountability, increasing sanctions. He said --
SOARES: Yes --
ROBERTSON: The eighth round of sanctions is not enough. But this air defense component the Germans contributing --
SOARES: Yes --
ROBERTSON: But there was a separate message in there for the French, the Italians and the British, also from Zelenskyy. He addressed them sort of
separately. You know, do more. He wants everyone to contribute financially, if not -- if they don't have the military hardware, just help finance it.
SOARES: I think France said they were deploying additional forces, I think to bolster kind of NATO's defensive posture and on the eastern -- on the
So that's the reality. Let's talk about Putin's ambitions. And you mentioned today the head of GCHQ, and he basically said that Russia is
running out of ammunition, running out of troops and running out of friends. He does seem to have some friends, doesn't he?
ROBERTSON: He is getting offered lifelines, if you will. And you know, the assessment of Putin is that he is -- the annexation and the attack on the
Nord Stream pipelines a few weeks ago and the escalation right now is him saying, now it's time to negotiate. It's my terms! This is what I'm after.
So I think Putin is now in a phase where if somebody comes to him and says, I can help negotiate, I can help find a path out of this, then that's an
opportunity. And it's quite possible that his meeting with the president of the UAE, bin Zayed was part of that. And that's -- that is the read from
the UAE. That there is an opportunity here for a potential discussion. But with what we've heard from the Kremlin is, yes, if he is there as a
intermediary to help that process, then that's something that's welcome.
SOARES: Where does Belarusia fit into this equation?
ROBERTSON: Belarusia right now, the -- Zelenskyy is calling on them not to get engaged in the war. That he feels that President Putin is trying to
encourage them to come in the war by saying that Ukraine is on the verge of attacking, Belarusia, that's not going to happen. But of course -- but
that's what President Zelenskyy says.
But of course, Belarusia and Russia have now agreed to have this joint force that could get deployed. Potentially additional troops for Putin,
although, you know, within the state Duma, officials there say those additional troops are not needed. But Belarusia is being drawn ever closer
to this conflict.
SOARES: Nic, really appreciate it, thank you very much. Well, NATO is battling down the hatches. The Secretary-General said Tuesday that the
organization is ramping up security around its infrastructure. Russia's weaponization of energy and the sabotage of the Nord Stream pipeline has
allies on high alert. Here is Jens Stoltenberg.
(BEGIN VIDEO CLIP)
JENS STOLTENBERG, SECRETARY-GENERAL, NATO: Allies are also increasing security around key installations and stepping up Intelligence and
Intelligence-sharing. We will take further steps to strengthen our resilience and protect our critical infrastructure. Any deliberate attack
against allies' critical infrastructure would be met with a united and determined response.
(END VIDEO CLIP)
SOARES: Well, Estonia is a NATO member and a neighbor of Russia. The country's foreign minister spoke to me last hour, I began by asking Urmas
Reinsalu what information NATO had to make them concerned about an attack on critical infrastructure right now.
(BEGIN VIDEO CLIP)
URMAS REINSALU, MINISTER OF FOREIGN AFFAIRS, REPUBLIC OF ESTONIA: First, of course, we are making additional security arrangements on civilian
infrastructure. But also, we are very cautious, looking also of possible threats coming from hybrid attacks against the NATO borders.
As we do remember, you know, from last year what happened on the borders of Poland and Lithuania, coming attacks from Belarusian soil.
SOARES: As a front line neighbor, though, Minister, do you -- does Estonia have any Intelligence here that Russia is perhaps planning specific attacks
on allies infrastructure?
REINSALU: Well, I think you have -- just look to the past and this is a response. Well, we remember already before the fall of this stage of war.
Last year, there was an explosion made -- organized by Russian operatives in -- against ammunition reserves in Czech territory. We do remember
assassinations, poisonings, radioactive agents put to the territory of NATO countries.
And also I think the last explosions in Baltic sea, I think this is rather looking suspiciously as a handwriting of Russian operatives. In that
context, I think we should be prepared to all actions which Russia establishes, first, to threaten us, to play a certain chicken game against
NATO, and secondly, also, by trying to tie our hands in some other region, not to orientate in the Ukrainian territory and the war.
SOARES: We have heard some, I think it's fair to say, some fighting talk from President Putin, some nuclear saber-rattling. Are you worried by what
you've been hearing so far?
REINSALU: Of course, when nuclear country makes nuclear threats, it is not a joke anyhow. But I think it is a part of this chicken game, and we should
not fall to that entrapment. We should be determined and give also this symmetric response as, well, the White House has made it clear statement
also that the price tag of using either civil nuclear objects as a tool of nuclear terror, or nuclear weapons would be enormous price to Putin's
SOARES: You know, we have been seeing -- and you mentioned that the escalation, and we've been seeing for the last week -- for the last seven
months, escalation after escalation. How does, Minister, this end? Because sanctions haven't really moved Putin, haven't deterred him. We've also seen
diplomacy hasn't changed his calculus. So, where do you go from here? Is there an off-ramp in your opinion?
REINSALU: No, I think that, of course, the only person who can immediately end the war is Putin. It's very clear. And now -- but he is doing it only
if the price goes too high for him. And I think the western community has cut the dogs den by slices. We in Estonia do have such saying.
And I think now, we have to immediately ramp up, as I stated, that we are - - we have moved gradually, we have responded to his escalated steps. Now, we should take it further, a new page in our ramping up against our
adversary, which is Putin's regime.
SOARES: On that ramping up, Minister, we've heard President Zelenskyy today appealing of course, for air shields, given of course what we've
seen, that kind of barrage from Russia. How likely is this to happen, do you think?
REINSALU: Of course, we have to take very seriously all the calls coming from Ukraine, our solid friends. And I think what is indeed needed is a new
level, a new deliverable by western countries to air defense, to defend particularly the civilian areas, civic infrastructure, particularly also,
before the Winter falls where Russia's attempt is indeed to destroy civic infrastructure, which is intentionally, again, one at further war crimes.
SOARES: But what we have heard from Russia's ambassador to the U.S., and I'm sure you heard this too, foreign minister, is warning allies -- warning
the U.S. and its allies of further supplying Kyiv with such weapons, calling this a red line assault. Is this a risk in your opinion?
REINSALU: Well, all the policies have in a way of appeasement. What we have -- well, maybe in some cases have used to avoid escalation have led us
where? To this genocidal type of war. And now, I think we should not to be frightened what more can happen. The genocide is taking place, and in the
sake of humanity, in the sake of our own security of Europe, we have to act. And this determination should lead us not to be frightened either by
Putin's ambassador or himself.
SOARES: Foreign Minister, really appreciate you taking the time to speak to us tonight. Thank you, sir.
(END VIDEO CLIP)
SOARES: Strong words there from the Estonian foreign minister. And join us again tomorrow when we bring you another NATO perspective. Canada's defense
minister will join me live during the show, I'll ask Anita Anand what she knows about NATO's increased security, how the bloc should respond to
Russia and whether she's worried about Putin making good, of course, on his latest threat.
We've given you the Latvian view foreign minister, the Estonian, tomorrow, we give you more analysis. Still to come though, tonight, images Iran
doesn't want the world to see. Security forces are terrorizing residents in another Kurdish city in a brutal effort to stifle dissent. That is next.
SOARES: Welcome back. Human rights groups are sounding the alarm about Iran's escalating crackdown on dissent saying security forces are
terrorizing residents of the Kurdish city that's become a hub of anti- government protests.
(BEGIN VIDEO CLIP)
(END VIDEO CLIP)
SOARES: This video here shows authorities firing towards residential areas in Sanandaj. And here, security forces appear to be breaking windows in
people's homes by throwing rocks. Activists say at least seven people have been killed since Saturday, and that includes a child. Our Jomana Karadsheh
spoke to a protester inside Sanandaj, getting some incredible insight into what's happening there.
And Jomana is live for us tonight in Istanbul. So Jomana, give us a sense of what this protester had to say.
JOMANA KARADSHEH, CNN INTERNATIONAL CORRESPONDENT: Well, you know, Isa, as we have been discussing since Saturday, there's been a lot of concern about
the intensifying crackdown on that city of Sanandaj, the capital of the Kurdistan province in northwestern Iran.
But as we have repeatedly said, and as you and I have discussed so many times, it is so difficult for us to reach people on the ground to get
firsthand accounts of what is going on. It's so tough for the human rights organizations trying to document in real-time what is happening, but that
doesn't stop us.
We continue to try and reach people in areas especially in this Kurdish region that has really seen the internet and communications really
disrupted by the regime. And you know, trying to reach these young protesters who are tech savvy who will try and find ways around the
And today, finally, we were able to speak to this one young man who really gave us a glimpse into what is going on in this city that is under fierce
KARADSHEH (voice-over): This is what the Iranian regime doesn't want the world to see --
Its ruthless crackdown on protests in the Kurdish city of Sanandaj has turned it into a war zone. Security forces moving around on motorbikes,
terrorizing residents --
Shooting indiscriminately at protesters and into people's homes. Human rights monitor, Hengaw says several people have been killed, including a
seven-year-old child who died in his mother's lap. Communication restrictions making it almost impossible for them and for us to tell the
story of that child and the many others, Hengaw fear have been killed.
After days of trying, we were finally able to briefly speak to a protester inside the city. For his safety, we're concealing his identity.
UNIDENTIFIED MALE (through translator): The security forces are using a lot of force to confront the people. A lot of people have been killed here.
Because the internet is cut, we couldn't send any information on social media. The people are really scared. Last night, in the Baharan
neighborhood, there were fierce clashes.
KARADSHEH: The regime says it is separatists fueling the uprising in the Kurdish region. Armed gangs that have attacked its forces, but offered no
proof. The little video breaking through the government's internet shutdown just enough to see some of the horror unleashed on the people of Sanandaj.
UNIDENTIFIED MALE: Last night, the security forces were firing in the direction of houses. They were using military grade bullets. And until now,
I haven't heard such bullets. The people were really afraid. They were firing lots of tear gas in the direction of houses, the backyards, even the
In the Baharan neighborhood, everyone felt the effects of tear gas, they had difficulty breathing. We've heard that the hospital is full of injured
people. Many people have been arrested. And it's not clear where they're being taken, because they're not telling anyone anything.
KARADSHEH: Human rights groups say the government is using the blackout to hide its crimes.
UNIDENTIFIED MALE: The scale of the massacre is way bigger than what we have been able to report. This is just a drop of the ocean. We have
received videos from Sanandaj, that the IRGC and other security forces have used 50 caliber machine guns. These are not normal guns. It's basically
like shooting protesters, let's say, in -- on one of the streets of the United States by M2.
KARADSHEH: But those bullets and bloodshed haven't stopped the will of the people. Some brave protesters still taking to the streets, refusing to be
KARADSHEH: And you know, Isa, Hengaw, this human rights monitor that is based in Norway, is an Iranian human rights organization, those mostly
focused on the Kurdish region. And they're not only concerned about the mounting death toll, they're very worried about people who are getting
detained, people being dragged off the streets and disappearing right now.
They say that they're getting reports that the prisons, the detention facilities are filling up. And that now authorities are using abandoned
buildings and warehouses, according to some of the reporting they've had from some residents in some neighborhoods. They say that they sometimes
hear the cries and the screams of people possibly being tortured inside these buildings.
Again, it's so difficult for us to try and get firsthand accounts of what is going on inside Sanandaj and in other parts of the Kurdish region as
well as the rest of Iran, but we continue to try, Isa.
SOARES: And you're trying, you're bringing us very much a sense of what is happening on the ground. Important reporting from yourself and the team.
Jomana Karadsheh for us there in Istanbul. They're very alarming report. Thank you very much, Jomana. And still to come tonight, a global economy at
the brink and a grim recession warning.
We break down today's startling IMF report. Richard Quest joins me next. And a historic agreement between two long-time adversaries. We'll look what
a new maritime deal means for Israel and Lebanon. That is just ahead.
SOARES: Welcome back everyone.
Israel and Lebanon have reached a historic agreement for a maritime border. Paving the way for potentially lucrative gas exploration. The U.S. brokered
deal settles a years-long border dispute of the major oil and gas fields in the Mediterranean. It is a huge diplomatic success for the region.
It comes at a critical moment amid a global energy crisis that we have been seeing, reported here, as a result of the war in Ukraine. CNN's Hadas Gold
has been monitoring these developments in Jerusalem. She joins us now.
Hadas, good to see you. Talk us through how this deal came together. And the importance of the breakthrough it is for the Middle East here.
HADAS GOLD, CNN INTERNATIONAL CORRESPONDENT: Well, you mentioned lucrative. There are estimates that the worth of the gas and oil of this
part of the Mediterranean Sea could be something like $3 billion . That is before the cost needed to extract it.
But this is some important money that could be very helpful for parts of this region, especially Lebanon, so economically devastated. This agreement
which has been in the works for years, there have been starts and stops negotiations. There have been attempts in the past for an agreement that
have not reached any sort of success.
Now it seems they are here. This is a historic agreement. Lebanon and Israel, Isa, are technically still at war. They are technically still
enemies. The agreement is not actually with each other -- each one is signing an agreement with the United States that brokered this -- it's
still historic to see these two countries talk about each other and come to an agreement and sort of recognizing a de facto order in the sea.
This does not talk about the border on land. It is the border on sea. It is being hailed as a much-needed win for everyone involved. For Lebanon
economically, for Israel for their security concerns, politically for the United States and even for Europe, who really needs an alternative to that
While the gas from this area will not solve the energy crisis for Europe and the rest of the world, that will at least, hopefully, help a little
GOLD (voice-over): It looks like a Mediterranean paradise but this is one of the most tense and dangerous places in the world, the Israel-Lebanon
border. This stretch of sea has long been disputed between the two enemies, technically still at war.
Even more so over the past decade, with lucrative gas deposits at play. Tuesday, after years of start and stop negotiations, a breakthrough.
Lebanon and Israel have agreed to a compromise, mediated by the United States, the first of its kind in decades. Israel will now be able to
develop the Karish oil and gas field. And Lebanon the Qana field.
(BEGIN VIDEO CLIP)
BENNY GANTZ, ISRAELI DEFENSE MINISTER (through translator): I commend the announcement by the Lebanese president accepting the agreement.
UNIDENTIFIED MALE: What more can secure stability on this border than having both countries at the same time producing gas.
(END VIDEO CLIP)
GOLD (voice-over): With Russia's war in Ukraine disrupting natural gas supplies for Europe, there were enormous incentives and pressures to reach
a deal and drill.
The strain was not just economic. Hezbollah, the powerful Lebanese militia backed by Iran, released this video over the summer, threatening to target
gas facilities Israel had already put into place if they began pumping before an agreement was reached.
The Israel Defense Forces say in July they shot down three Hezbollah drones heading toward Israeli installations.
Hezbollah's leader, Hassan Nasrallah, is likely to take the agreement as proof that his threat worked.
Lebanon, led by a caretaker administration, is beset by years of extreme inflation, corruption and political instability. It's president, Michel
Aoun, will welcome the desperately needed cash that the gas will bring although it will take years to see a cent.
It is a political boon to the Israeli prime minister, Yair Lapid, he's facing a election in just three weeks. Former prime minister, Benjamin
Netanyahu, his chief opponent, has tried to use the gas deal as a political bludgeon, accusing Lapid of surrendering to Hezbollah.
U.S. President Joe Biden will likely take a victory lap. It was the U.S. mediator, Amos Hochstein, who got the deal over the line when others
couldn't. Officials now believe those gas rigs and this new border will make for a much quieter neighborhood.
GOLD: Isa, just over the past couple of hours, U.S. President Joe Biden spoke on the phone with both the Lebanese president and the Israeli prime
minister, congratulating them on the deal.
While there are still certain steps that may be taken, especially here within Israel before the deal can be completely ratified, all signs are
pointing to that agreement potentially being signed in the final days before the Israeli election on November 1st.
SOARES: Hadas Gold in Jerusalem for us, thank you very much, Hadas.
"The worst is yet to come." That is the stark warning from the International Monetary Fund today, just downgrading its forecast for the
global economy in 2023. They are predicting a third of the world will be in recession by next year.
It is even worse news for the U.K., according to the IMF. It is forecasting that Britain will have the most persistent high inflation of the G7
countries. In an unusually outspoken statement, the fund hit out at the British government's controversial tax cuts, warning it will fuel
inequality and drive up prices.
Richard Quest joins me now.
I think it is fair to say we could do with some lighter, more positive news. The IMF is not providing that. The worst is yet to come, stormy
How bad is it?
RICHARD QUEST, CNN HOST: The problem is we have known this is going to happen but now, if you like, all the official bodies are signing on to it.
Anybody with half a wit in economics knew that as interest rates went up, the scenario we are in today's going to get worse, particularly while we
are still talking about increasing interest rates, as the Fed will do, as the ECB will do, as the Bank of England will probably do.
So it is the statement of the obvious that things are going to get worse.
How much worse depends on exogenous events, such as Ukraine; whether or not energy crisis stay high.
Do things take another tumble?
But this is very depressing news, particularly, I would also say, for developing and emerging economies that are going to be sideswiped as the
richer economies get their houses in order.
SOARES: That is such an important point. Richard, I have never seen an economic forecast that has been mostly positive.
Is this gloom bound to pass?
Please tell us that there is a glimmer of hope here.
QUEST: Oh, yes, absolutely. I tend to get fairly excited by the wheel. And if I look at the charts on inflation, the medicine that is being given now,
prescribed now, works. At the end of 2023, U.S. inflation is down at 3.2 percent. The euro area inflation is down at 2.3 percent.
So we are talking about a 12-month period, currently like this at the moment. We are trying to stop inflation. It will stop, it will start to
come down. I would imagine that the recession in the developing world hits about April to August of next year. It's short and to the point. But by the
time we get to this time next year -- I know, it seems a long way off.
QUEST: But this is the penalty in price for cheap money for so many years. I think things start to look a lot better by the end of next year.
SOARES: I think we will leave it on a positive note after everything we have seen. Richard, we really appreciate. It
Richard will be back in about 20 minutes or so.
Amid all these challenges facing the U.K., Buckingham Palace has just announced that King Charles III's coronation will be on May 6th next year.
The ceremony at Westminster Abbey will see his wife, Camilla, crowned alongside him.
Some are questioning the timing and the appropriate of the event as the country's cost of living crisis impacts millions of ordinary people right
While the palace has promised an event with traditions and pageantry, we can expect a more slimmed down celebration than usual.
Still to come tonight, CNN's along for the ride as troops battle ISIS in Africa. David McKenzie explains why the whole world should care about this
(BEGIN VIDEO CLIP)
DAVID MCKENZIE, CNN CORRESPONDENT (voice-over): The cost of this insurgency isn't blood but also enormous treasure.
We are entering the $20 billion dollar Ofungi (ph) natural gas pond. This has the potential to take in at least 100 trillion cubic feet of natural
gas. And in the time of global gas insecurity, this is a massive deal.
(END VIDEO CLIP)
SOARES: I'm sorry, I was going to go for another --
SOARES: You may have thought the battle against ISIS was over. But the ideology and the footsoldiers that cling to it, in fact, did not disappear.
The U.N. says the insurgency is a major threat to parts of Africa. Mozambique is one new battleground.
They have called in help from Rwandan soldiers while Africans taking on the fight now say it is a problem the whole world must face.
MCKENZIE (voice-over): The fight against ISIS did not end; it shifted to ungoverned spaces like this.
We are embedded with Rwandan security forces in northern Mozambique, battling an ISIS-linked insurgency.
The tactics are familiar, if unspeakably brutal. To sow terror, burn schools, create chaos. They have displaced nearly a million people.
Jihadi Mozambique is an extension of the Islamic state in jihad all over the world, he says.
MCKENZIE (voice-over): In a message posted in August.
What was it like when they attacked?
They first came to this area to spread their propaganda, they say. They melted back into the forest and then later attacked.
In Mocimboa da Praia, a strategic port town, ISIS Mozambique arrived in force, held the territory for a year.
When I find children like this, he says, they took them back to the forest. When they find men like this, they cut off their heads. The cost of this
insurgency is in blood but also enormous treasure.
We are entering the $20 billion natural gas plant. That's the potential to take in 100 trillion cubic feet of natural gas and in a time of global gas
and security, this is a massive deal. Industry analysts say Mozambique's offshore natural gas potential
could eventually rival Russia. As Europe faces out Russia's gas supply, because of the war in Ukraine, alternate sources are critical.
There is not a soul anywhere over here. It is completely empty.
When the militants attacked Palma, energy giant Total declared force majeure. Mozambique, fearing a collapse of control looked elsewhere.
In 2000, Rwandan soldiers and police invited by the government took the fight to ISIS.
Later, regional forces joined in.
General, what is the chief consideration when dealing with the insurgency like this?
RONALD RWIVANGA, BRIGADIER GENERAL, RWANDAN DEFENCE FORCE: The first thing you have to do is to defeat the insurgency the military operation but after
that you must try to win hearts and minds.
MCKENZIE: It is still opaque why I want to answer the call. Aid workers and Western diplomats praised their professionalism.
UNIDENTIFIED MALE: As you can see -- it is at 8.7.
MCKENZIE: The displaced are tentatively moving back, bringing what belongings they can.
I heard there is peace now, so I came home, said Benjamin Thomas. That peace is fragile.
Outside of Rwanda's zone of control, the killings, the beheadings continue. Intelligence sources say the insurgents have split into smaller cells, now
using improvised explosive devices.
It is not just fixing one area and pushing the problem somewhere else?
RWIVANGA: Well, you could say it is natural for the enemy to escape, to places that are less or they feel less pressure. But all we need to do is
maintain momentum, following pursuit.
MCKENZIE: The stakes are extraordinary. And they should not be ignored. The window to defeat ISIS in Mozambique, before the insurgency evolves, is
likely short -- David McKenzie, CNN, Mozambique.
SOARES: We will be right back after the short break. Stay right here on CNN.
SOARES: Welcome back, everyone.
In Venezuela, the death toll continues to rise after a deadly landslide ripped through the city of Las Tejerias on Sunday. At least 36 have died
and more than 50 are still missing. Rescue missions are scouring through the debris. President Nicolas Maduro visited the area on Monday, assessing
Heavy rains pounded the region for days leading to the landside. Heavy rains also plaguing Central America. The aftermath of hurricane Julia
taking at least 27 lives in El Salvador. At least 1,000 people have been displaced. Locals are wading through the streets. Shelters and refugee
camps are open.
At last year's climate change conference, COP26, world leaders pledged to achieve net zero emissions by 2050. Next month, world leaders will meet in
Egypt's resort town of Sharm El Sheikh for COP27, to discuss the world's most pressing climate issues.
In this special series, "The Road to COP27," we explore some of this year's biggest events, with food security high on the agenda.
MARTIN FRICK, DIRECTOR, GLOBAL OFFICE, BERLIN, WORLD FOOD PROGRAMME (voice- over): This is indeed a year of unprecedented hunger, the biggest humanitarian crisis since the Second World War.
DR. DHANUSH DINESH, CLIM-EAT (voice-over): The challenges we are facing are growing. Now we are facing a food crisis, food system is a big part of
the problem and the solution.
KARADSHEH (voice-over): Dr. Dhanush Dinesh has been a regular sight within the corridors of COP since 2015, raising awareness on how food systems are
a critical part of the climate debate.
The climate think tank founder has grand hopes for this year's event held at the Egyptian Red Sea resort town of Sharm El Sheikh.
DINESH (voice-over): Previous editions of the COPs and I've been going since COP21, there are a number of abilenes (ph) which bring attention to
different issues. But there was never abilene (ph) on food.
KARADSHEH (voice-over): Food systems is a catchall term that refers to the agency of food production, the way we grow it to how we transport it to the
disposal of it. And all parts of that system are taking a massive toll on the environment.
FRICK (voice-over): If you look at toll as a system, you are looking at more than one third of the global greenhouse gas emissions. But if you turn
around that food production system, it can actually help countering the climate crisis.
KARADSHEH (voice-over): This is the ultimate goal of more than 15 global organizations set to take part in the food systems pavilion, going beyond
the usual conversation and showcasing how they're implementing cleaner, greener ways of producing food.
DINESH (voice-over): We cannot rely purely on the negotiations track. That takes time. So it is not about a discussion. It is really about the
KARADSHEH (voice-over): From vertical farming to cultivated meat, a plethora of sustainable and smart solutions will be showcased.
FRICK (voice-over): I think we only understand now how much potential for innovation and for business there is in turning our food system into
something that is much more sustainable, more diverse and more intelligent.
KARADSHEH (voice-over): Aside from the environmental benefits of going green, reshaping the food system could create an economic boom that one
estimate says could generate more than $4.5 trillion a year by 2030.
A promising figure only achieved by a collective voice at this year's COP27 -- Jomana Karadsheh, CNN.
SOARES: Now day in and day out on this very show, we bring you the stories of a challenging world.
SOARES: Sometimes the news can seem overwhelming, I'm not going to lie. And whether it is the war in Ukraine or the crackdown in Iran, it is not
always easy to watch.
From now on we want to take a moment at the end of each show here to share with you a quote that made us pause for thought, either about the
challenges and the difficulties facing the world or something that just makes us laugh or think, a moment of levity.
Today we share the words of "Star Trek" icon William Shatner, whose real life journey into space reminded him just how remarkable our blue planet
is. This is what he wrote. I will share with you.
"I saw," he said, "a cold, dark, black emptiness. It was unlike any blackness you can see or feel on Earth. It was deep, enveloping, all
encompassing. I turn back toward the light of home. I could see the curvature of the Earth, the beige of the desert, the white of the clouds
and the blue of the sky. It was life; nurturing, sustaining life."
SOARES: Really a amazing perspective. A reminder to leaders across the globe, never take our planet for granted. That is some food for thought for
Thank you so much for your company. Stay here on CNN. "QUEST MEANS BUSINESS" with Richard Quest is up next on CNN.