NATO Madrid summit ends with pledge to boost spending on the military alliance

NATO's two-day summit in Madrid has ended with a pledge to boost defence spending to strengthen the transatlantic military alliance and increase support for Ukraine. US President Joe Biden has announced a further $800 million in military aid. Senior defence consultant Fabrice Pothier tells us what the economic impact of increased defence spending may be for the countries offering greater support for the war-torn country. The pressure on global oil production is discussed at the latest OPEC+ meeting. We hear from former OPEC official and BP analyst Jorge Leon. A team from the International Monetary Fund leaves Sri Lanka without a bailout agreement, but with substantial progress made. Macroeconomist Ammar Khan explains what could be included in the deal.