Category: Economy

  • MIL-OSI Economics: Existing Home Sales Forecast Revised Lower in Latest Outlook

    Source: Fannie Mae

    WASHINGTON, DC – Existing single-family home sales are forecast at 4.14 million units for 2025, down slightly from last month’s forecast of 4.24 million units, according to the June 2025 Economic and Housing Outlook from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. Revisions to the home sales forecast were driven in part by the ESR Group’s higher expectations for mortgage rates, which are now predicted to end 2025 and 2026 at 6.5% and 6.1%, respectively. The latest outlook also projects real gross domestic product growing at 1.4% in 2025 and 2.2% in 2026 on a Q4/Q4 basis.

    Visit the Economic and Strategic Research site at fanniemae.com to read the full June 2025 Economic and Housing Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast. To receive email updates with other housing market research from Fannie Mae’s Economic and Strategic Research Group, please click here.

    Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

    About the ESR Group
    Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lenders to inform forecasts and analyses on the economy, housing, and mortgage markets.

    MIL OSI Economics

  • MIL-OSI USA: NASA Fosters Innovative, Far-Out Tech for the Future of Aerospace

    Source: NASA

    Through the NASA Innovative Advanced Concepts (NIAC) program, NASA nurtures visionary yet credible concepts that could one day “change the possible” in aerospace, while engaging America’s innovators and entrepreneurs as partners in the journey.  
    These concepts span various disciplines and aim to advance capabilities such as finding resources on distant planets, making space travel safer and more efficient, and even providing benefits to life here on Earth. The NIAC portfolio of studies also includes several solutions and technologies that could help NASA achieve a future human presence on Mars. One concept at a time, NIAC is taking technology concepts from science fiction to reality.  
    Breathing beyond Earth 
    Astronauts have a limited supply of water and oxygen in space, which makes producing and maintaining these resources extremely valuable. One NIAC study investigates a system to separate oxygen and hydrogen gas bubbles in microgravity from water, without touching the water directly. Researchers found the concept can handle power changes, requires less clean water, works in a wide range of temperatures, and is more resistant to bacteria than existing oxygen generation systems for short-term crewed missions. These new developments could make it a great fit for a long trip to Mars.  
    Newly selected for another phase of study, the team wants to understand how the system will perform over long periods in space and consider ways to simplify the system’s build. They plan to test a large version of the system in microgravity in hopes of proving how it may be a game changer for future missions. 
    Detoxifying water on Mars
    Unlike water on Earth, Mars’ water is contaminated with toxic chemical compounds such as perchlorates and chlorates. These contaminants threaten human health even at tiny concentrations and can easily corrode hardware and equipment. Finding a way to remove contaminates from water will benefit future human explorers and prepare them to live on Mars long term. 
    Researchers are creating a regenerative perchlorate reduction system that uses perchlorate reduction pathways from naturally occurring bacteria. Perchlorate is a compound comprised of oxygen and chlorine that is typically used for rocket propellant. These perchlorate reduction pathways can be engineered into a type of bacterium that is known for its remarkable resilience, even in the harsh conditions of space. The system would use these enzymes to cause the biochemical reduction of chlorate and perchlorate to chloride and oxygen, eliminating these toxic molecules from the water. With the technology to detoxify water on Mars, humans could thrive on the Red Planet with an abundant water supply. 
    Tackling deep space radiation exposure 
    Mitochondria are the small structures within cells often called the “powerhouse,” but what if they could also power human health in space? Chronic radiation exposure is among the many threats to long-term human stays in space, including time spent traveling to and from Mars. One NIAC study explores transplanting new, undamaged mitochondria to radiation-damaged cells and investigates cell responses to relevant radiation levels to simulate deep-space travel. Researchers propose using in vitro human cell models – complex 3D structures grown in a lab to mimic aspects of organs – to demonstrate how targeted mitochondria replacement therapy could regenerate cellular function after acute and long-term radiation exposure.  
    While still in early stages, the research could help significantly reduce radiation risks for crewed missions to Mars and beyond. Here on Earth, the technology could also help treat a wide variety of age-related degenerative diseases associated with mitochondrial dysfunction. 
    Suiting up for Mars 
    Mars is no “walk in the park,” which is why specialized spacesuits are essential for future missions. Engineers propose using a digital template to generate custom, cost-effective, high-performance spacesuits. This spacesuit concept uses something called digital thread technology to protect crewmembers from the extreme Martian environment, while providing the mobility to perform daily Mars exploration endeavors, including scientific excursions. 
    This now completed NIAC study focused on mapping key spacesuit components and current manufacturing technologies to digital components, identifying technology gaps, benchmarking required capabilities, and developing a conceptional digital thread model for future spacesuit development and operational support. This research could help astronauts suit up for Mars and beyond in a way like never before.   
    Redefining what’s possible 
    From studying Mars to researching black holes and monitoring the atmosphere of Venus, NIAC concepts help us push the boundaries of exploration. By collaborating with innovators and entrepreneurs, NASA advances concepts for future and current missions while energizing the space economy.  
    If you have a visionary idea to share, you can apply to NIAC’s 2026 Phase I solicitation now until July 15.

    MIL OSI USA News

  • MIL-OSI: PBKMiner Surges Ahead as AI Deployment Yields Record User Gains

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, June 23, 2025 (GLOBE NEWSWIRE) —

    Having recently deployed predictive intelligence across its global mining network, PBKMiner is seeing a significant boost in operational data and profits for its users. With the AI backend and system now completely deployed, PBK Miner is excited to report improved efficiency, reduced energy waste, and increased profitability reported in user accounts.

    This process is opting into the company’s strategic rollout of an intelligent decision-making engine which automatically rebalances how a resource is used based on available network conditions, token price, and power flow. With the AI squeezing every aspect of the backend process, PBK Miner has less energy slack, more predictable rewards and less disruption from its own actions on the network.

    “Since implementation, we’ve observed a 22% improvement in performance consistency and an overall boost in mining output across the board,” said Paul Brian Keeley, President of PBK Miner. “It’s proving exactly what we envisioned — a smarter, self-adjusting system that creates a meaningful difference in daily user returns.”

    The AI backbone actively reads live signals from blockchain congestion points, asset momentum patterns, and machine-level hardware metrics. As a result, when token values shift or certain chains experience peak activity, PBK Miner responds in milliseconds, rerouting processes to maximize uptime and user benefit.

    This has had a tangible impact on participants, with miners across more than 180 nations reporting improved day-to-day earnings. Whether they are operating short-term contracts or engaging in longer staking cycles, the AI-enhanced framework has added a layer of intelligence that significantly reduces exposure to volatility.

    One notable advantage is the platform’s ability to auto-switch between asset pools depending on profit ratios and energy prices. This smart reallocation feature is especially impactful in today’s fast-moving digital markets, where milliseconds can define returns.

    Key improvements from PBK Miner’s AI refinement include:

    • Consistent daily profit generation even during network slowdowns
    • Smart grid workload balancing tied to renewable energy surpluses
    • Minimal downtime due to proactive failure prediction algorithms
    • Real-time resource reallocation between mining assets based on trend triggers

    The platform remains rooted in its environmental mission, leveraging renewable sources like hydro, solar, and wind for all mining activity. Now empowered with adaptive decision-making, PBK Miner can direct mining loads to the most energy-efficient zones depending on regional weather or power grid fluctuations.

    “Mining doesn’t have to come at the cost of the planet or users’ peace of mind,” Keeley added. “We built a system that listens, learns, and adjusts—and the feedback from our global community confirms it’s working exactly as intended.”

    With over 8 million users globally and consistent infrastructure expansion, PBK Miner continues to define a new class of sustainable, intelligent mining for both retail and institutional participants.

    About PBK Miner
    PBK Miner, a UK-based supplier of digital asset infrastructure, was incorporated in 2019. The company is focused entirely on a hands-off method for crypto miners that is powered entirely by clean energy. The platform allows individuals and institutions with no need for hardware or barriers to mining efficiently.

    To get more details or check out contract options, visit https://pbkminer.com

    Media Contact:
    Alison Evans
    PR Manager
    info@pbkminer.com
    +44 7514 226545

    Company Address:
    30 Colston Avenue, Carshalton, Surrey, England

    Disclaimer: This press release is for informational purposes only and does not constitute financial advice, legal advice, or investment recommendations. Cryptocurrency involves risk and market volatility. Please research or consult a licensed financial advisor before making investment decisions. Pbkminer.com and associated parties are not liable for any financial loss incurred.

    Attachment

    The MIL Network

  • MIL-OSI: PBKMiner Surges Ahead as AI Deployment Yields Record User Gains

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, June 23, 2025 (GLOBE NEWSWIRE) —

    Having recently deployed predictive intelligence across its global mining network, PBKMiner is seeing a significant boost in operational data and profits for its users. With the AI backend and system now completely deployed, PBK Miner is excited to report improved efficiency, reduced energy waste, and increased profitability reported in user accounts.

    This process is opting into the company’s strategic rollout of an intelligent decision-making engine which automatically rebalances how a resource is used based on available network conditions, token price, and power flow. With the AI squeezing every aspect of the backend process, PBK Miner has less energy slack, more predictable rewards and less disruption from its own actions on the network.

    “Since implementation, we’ve observed a 22% improvement in performance consistency and an overall boost in mining output across the board,” said Paul Brian Keeley, President of PBK Miner. “It’s proving exactly what we envisioned — a smarter, self-adjusting system that creates a meaningful difference in daily user returns.”

    The AI backbone actively reads live signals from blockchain congestion points, asset momentum patterns, and machine-level hardware metrics. As a result, when token values shift or certain chains experience peak activity, PBK Miner responds in milliseconds, rerouting processes to maximize uptime and user benefit.

    This has had a tangible impact on participants, with miners across more than 180 nations reporting improved day-to-day earnings. Whether they are operating short-term contracts or engaging in longer staking cycles, the AI-enhanced framework has added a layer of intelligence that significantly reduces exposure to volatility.

    One notable advantage is the platform’s ability to auto-switch between asset pools depending on profit ratios and energy prices. This smart reallocation feature is especially impactful in today’s fast-moving digital markets, where milliseconds can define returns.

    Key improvements from PBK Miner’s AI refinement include:

    • Consistent daily profit generation even during network slowdowns
    • Smart grid workload balancing tied to renewable energy surpluses
    • Minimal downtime due to proactive failure prediction algorithms
    • Real-time resource reallocation between mining assets based on trend triggers

    The platform remains rooted in its environmental mission, leveraging renewable sources like hydro, solar, and wind for all mining activity. Now empowered with adaptive decision-making, PBK Miner can direct mining loads to the most energy-efficient zones depending on regional weather or power grid fluctuations.

    “Mining doesn’t have to come at the cost of the planet or users’ peace of mind,” Keeley added. “We built a system that listens, learns, and adjusts—and the feedback from our global community confirms it’s working exactly as intended.”

    With over 8 million users globally and consistent infrastructure expansion, PBK Miner continues to define a new class of sustainable, intelligent mining for both retail and institutional participants.

    About PBK Miner
    PBK Miner, a UK-based supplier of digital asset infrastructure, was incorporated in 2019. The company is focused entirely on a hands-off method for crypto miners that is powered entirely by clean energy. The platform allows individuals and institutions with no need for hardware or barriers to mining efficiently.

    To get more details or check out contract options, visit https://pbkminer.com

    Media Contact:
    Alison Evans
    PR Manager
    info@pbkminer.com
    +44 7514 226545

    Company Address:
    30 Colston Avenue, Carshalton, Surrey, England

    Disclaimer: This press release is for informational purposes only and does not constitute financial advice, legal advice, or investment recommendations. Cryptocurrency involves risk and market volatility. Please research or consult a licensed financial advisor before making investment decisions. Pbkminer.com and associated parties are not liable for any financial loss incurred.

    Attachment

    The MIL Network

  • MIL-OSI Economics: An energy solution made in Saskatchewan

    Source: – Press Release/Statement:

    Headline: An energy solution made in Saskatchewan

    Saskatchewan should recommit to its plan to procure 3,000 MW of abundant, affordable wind and solar energy by 2035.

    Regina, June 23, 2025—The Canadian Renewable Energy Association (CanREA) is concerned that the Government of Saskatchewan’s plans to extend the lifecycle of their coal-generation plants, as signalled on June 18, will have an impact on future renewable energy plans in the province.

    CanREA encourages the government, in its effort to protect Saskatchewan jobs and utilize Saskatchewan resources, to recommit to its 2022 commitments to procure 3,000 MW of wind and solar by 2035, as part of an energy vision that leverages wind energy, solar energy and energy storage technologies.

    “Saskatchewan has world-class wind and solar resources—among the best in Canada—and it makes sense to tap into these abundant, affordable, renewable sources of energy,” said Kelly Hall, CanREA’s Director for Saskatchewan and Indigenous Engagement.

    The 3,000 MW target will support five key priorities: affordability, Indigenous Reconciliation, economic development, effective project siting and engagement, and long-term energy security. These priorities have been cited to justify extending coal power production, but they’re even stronger reasons to accelerate the shift to renewables.

    Affordability

    Renewables with storage are the most cost-effective and rapidly deployable new energy sources, according to financial services firm Lazard.

    For example, on May 1, 2025, SaskPower announced long-term (25-30 year) PPAs for the 200 MW Rose Valley Wind Project, east of Assiniboia, and the 100 MW Southern Springs Solar Project, south of Coronach. While contract prices remain confidential, SaskPower President Rupen Pandya disclosed average bid prices of $64/MWh for wind and $90/MWh for solar—both well below SaskPower’s current retail rate of $150/MWh.

    These prices align with 2018 results, when Potentia Renewables won a PPA for the Golden South Wind facility at $42/MWh for 29 wind bids. Now operational, that project delivers affordable electricity to the grid, as do all Saskatchewan’s 920 MW of wind and solar projects.

    Renewables help keep costs low for all ratepayers, and Saskatchewan deserves more success stories like these.

    Indigenous Reconciliation

    Wind and solar are well suited to Indigenous equity partnerships, which will advance economic reconciliation in Saskatchewan. Equity partnerships benefit Indigenous communities, ratepayers and the electricity system.

    For example, SaskPower recently selected renewable energy projects jointly owned by Potentia Renewables, Meadow Lake Tribal Council and Mistawasis Nehiyawak. These majority Indigenous-owned ventures continue Saskatchewan’s tradition of Indigenous leadership in renewables.

    With a commitment to Indigenous equity in all future RFPs, the 3,000 MW renewables plan can expand on past success.

    Economic development & job opportunities 

    Renewables bring billions in investment and create jobs. At the May 1 SaskPower announcement, Potentia Renewables said the Rose Valley Wind Project will cost nearly $450 million; the solar project, about $185 million.

    Based on current projects, a typical 200 MW wind project creates 200 to 300 construction jobs, invests more than $400 million locally, and generates more than $1 million annually in property taxes and landowner payments.

    Saskatchewan’s 3,000 MW renewables plan could mean 4,500 to 6,000 jobs, $5 to 6 billion in rural investment, and tens of millions annually for local landowners and municipalities. Investing in renewables is investing in rural Saskatchewan.

    Project siting and community engagement

    Communities across the province expect thoughtful project siting and responsive public engagement. Fortunately, new wind and solar projects require local landowner agreements, are designed to co-exist with agriculture and deliver direct benefits to host municipalities. 

    Responsible development is already a standard practice in the renewables sector and among CanREA members.

    Energy security

    In uncertain times, energy security is a valid concern. Saskatchewan can count on its outstanding wind and solar resources to reduce its reliance on imported fuels and protect itself from cross-border risks.

    New wind and solar projects can give Saskatchewan control over its grid, without worrying that another jurisdiction might turn off the tap.

    It makes sense for the province to invest in its own abundant, affordable resources. Recommitting to the plan of 3,000 MW of renewable energy by 2035 will support energy security, protect local jobs, maintain affordability, and promote Indigenous Reconciliation, all in harmony with landowner and community needs.

    “It’s an energy solution that’s made in Saskatchewan,” said Hall.

    Quote

    “Saskatchewan has world-class wind and solar resources—among the best in Canada—and it makes sense to tap into these abundant, affordable, renewable sources of energy. It’s an energy solution that’s made in Saskatchewan.”
     —Kelly Hall, Director for Saskatchewan and Manitoba, and for Indigenous Engagement, Canadian Renewable Energy Association (CanREA)

    For media inquiries or interview opportunities, please contact: 

    Communications Canadian Renewable Energy Association communications@renewablesassociation.ca 

    About CanREA

    The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision.” Follow us on Bluesky and LinkedIn here. Learn more at renewablesassociation.ca. 
    The post An energy solution made in Saskatchewan appeared first on Canadian Renewable Energy Association.

    MIL OSI Economics

  • MIL-OSI Russia: Guatemala: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    June 23, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    An International Monetary Fund (IMF) mission led by Mr. Alexander Culiuc visited Guatemala City during June 10-20, 2025 for the 2025 Article IV consultation. At the end of the visit, the mission issued the following statement:

    • Prudent macroeconomic management has supported Guatemala’s resilience, delivering low inflation, robust policy buffers and a sustained current account surplus. With rising external uncertainty and mounting risks, stronger, more inclusive growth and poverty reduction can be achieved by accelerating reform implementation and enhancing policy coordination.
    • Raising private investment from current low levels requires complementary public inputs—infrastructure, educated and healthy labor force, security—which can only be adequately delivered by simultaneously raising public spending and improving its quality.
    • Improving quality and efficiency of spending entails better budget formulation, targeting, execution and control, and swift implementation of the anti-corruption agenda. We welcome the authorities’ efforts in this regard.
    • In the short term, existing fiscal space enables financing higher levels of spending with debt, with greater reliance on domestic borrowing.
    • In the medium term, raising revenues—primarily via comprehensive tax policy reform—would revert deficits to around 2 percent of GDP to preserve debt sustainability while maintaining priority spending at adequate levels.
    • Other structural and governance reforms pursued by the authorities, including in the financial and labor sectors—particularly urgent in the case of the AML/CFT law—will help support private sector growth. Continued commitment to dialogue and consensus-building can sustain progress on key legislative initiatives.

    Recent Economic Developments, Outlook, and Risks

    Guatemala’s economy remains resilient despite rising external risks and domestic challenges. Real GDP grew by 3.7 percent in 2024, supported by strong private consumption. Inflation has eased significantly, with headline inflation falling to 1.7 percent in May 2025, while core inflation remains near 4 percent, and inflation expectations are well anchored. The current account surplus narrowed to 2.9 percent of GDP in 2024 as imports picked up, while remittances stabilized at 19 percent of GDP and international reserves reached US$27.1 billion. Public debt remains low—under 27 percent of GDP—and Guatemala is now only one notch below investment grade. Banguat kept its policy rate unchanged at 4.5 percent since the 25bps cut in November 2024.

    Guatemala endeavors an investment-biased fiscal expansion. The August 2024 supplementary budget prioritized infrastructure and social spending and targeted a deficit of 2.7 percent of GDP; the realized deficit was significantly lower at 1 percent of GDP. The 2025 budget continues this expansionary approach, with a further increase in infrastructure and social allocations. While the original budget targeted a deficit of 3.2 percent of GDP, a supplementary budget, specifying carryovers from 2024 and one-off pension payments, raised the budget deficit to a notably high 3.8 percent of GDP.

    The outlook for 2025 is encouraging; sustaining the growth momentum over the medium term will require steadfast policy implementation. Real GDP growth is projected at 3¾ percent in 2025, with the fiscal impulse expected to help cushion the effects of softening global demand and high uncertainty. Beyond 2025, growth is projected to slightly exceed 3½ percent, although an acceleration in public infrastructure execution and structural reforms could push both actual and potential growth higher in the outer projection years. Headline inflation is expected to gradually converge toward the monetary policy target, while the fiscal deficit is projected to remain elevated by historical standards at just below 3 percent of GDP through the medium term. The current account surplus is expected to narrow and eventually close, while public debt is projected to climb above 30 percent of GDP in the medium term.

    The balance of risks is tilted to the downside. On the domestic front, there is a risk that ongoing political tensions could impede progress on legislative initiatives. Nonetheless, important progress has been made over the past year—including the approval of the 2025 budget and the competition law—demonstrating the capacity for reform even in a complex environment. Externally, intensified and/or protracted global trade disputes would weigh further on investment sentiment, although Guatemala is somewhat better positioned to weather additional trade shocks than some regional peers. Further changes in U.S. migration policy—including the proposed 3.5 percent excise tax on remittances—could disrupt remittance-supported consumption. On the upside, lower net emigration also offers a window to boost domestic employment if accompanied by targeted efforts to expand job opportunities in the formal private sector.

    Fiscal Policy

    The 2025 expansionary fiscal stance is appropriate, as private demand is projected to soften in the remainder of the year. Structural bottlenecks and recently strengthened anti-corruption controls are likely to limit the execution of capital spending, with the deficit projected at around 2½ percent of GDP, well below the revised budget of 3.8 percent. The historically high (1.3 percent of GDP) transfers to Departmental Development Councils (CODEDEs) require close oversight and monitoring amidst concerns of elevated risks of misallocation and inefficient use. The authorities’ ongoing multi-institutional efforts to strengthen the transparency, accountability, monitoring of CODEDEs transfers and capacity of municipalities are welcome and should be sustained.

    A combination of revenue and expenditure reforms is needed in the medium term. Authorities should seek ways of reverting fiscal deficits closer to historical levels (around 2 percent of GDP) without jeopardizing the much-needed surge in public infrastructure and social spending. The tax authority (SAT) has made commendable steps in strengthening compliance through the rollout of mandatory electronic invoicing, enhanced border enforcement to combat smuggling, and more robust audits of high-income individuals and large corporations. Efforts to improve mobilization—in line with the now-public 2024 TADAT report—should continue and be complemented in the medium term by comprehensive tax policy reforms. On the expenditure side, strengthening institutional capacity for systematic expenditure reviews and embedding the National Development Plan into annual and multi-year budgets would align public spending with strategic priorities. A new Public Procurement law—currently under consideration—could alleviate bottlenecks in the execution of capital spending. Improved targeting in social programs would further increase their effectiveness. Strengthening the Medium-Term Fiscal Framework and multiannual budget planning underpinned by realistic, sector-informed projections will bolster confidence—including of market participants—in fiscal sustainability.

    A well-calibrated financing strategy would help the macro-policy mix. While solid creditworthiness enables the government to borrow externally on favorable terms, greater reliance on domestic financing under a sound medium term debt management strategy (MTDS) would (i) reduce real appreciation pressures (which already weigh on Guatemala’s external competitiveness), (ii) help develop the domestic financial market, (iii) reduce currency risks, and (iv) lower costs of monetary policy operation incurred by Banguat to maintain price stability. The mission also encourages the Ministry of Finance to consolidate domestic issuances, introduce shorter-maturity instruments to help develop the yield curve, and regularly publish the MTDS and annual borrowing plans.

    Monetary and Exchange Policies

    The current monetary policy stance is broadly appropriate, but there is scope to further strengthen monetary policy transmission. The ex-ante real policy rate is at 1 percent, within the estimated range for the neutral real rate (1–2 percent). Given prevailing uncertainty regarding the inflationary impact of recent U.S. tariff measures and potential disruptions to global supply chains, there’s scope in maintaining the current policy stance and waiting for greater clarity before making further adjustments. Estimated passthrough of the policy rate to deposit rates has recently increased. More can be done, including by advancing financial market development and competition and reducing reliance on reserve requirements for liquidity management. These efforts should be underpinned by improvements in the legal framework and market infrastructure supporting monetary policy operations.

    Banguat’s response to large remittances inflows is appropriate and requires closer coordination with MinFin to address ensuing sterilization costs. Banguat’s FX participation rule delivers a reasonable balance between enabling higher consumption and maintaining external competitiveness. The resulting external position is stronger than fundamentals and desirable policies, but this positive current account gap should be closed by raising investment. On the flip side, Banguat’s policy necessarily relies on costly liquidity sterilization operations to keep inflation in check. While recent international financial conditions have been supportive of Banguat’s profitability, these costs could be further reduced through higher reliance on domestic debt to finance the budget, and closer coordination with MinFin on liquidity management. In the long term, ensuring Banguat’s financial strength will require consistent enforcement of legal provisions mandating budget to cover central bank losses.

    Financial Sector

    Maintaining financial stability requires continued close monitoring of the system. Guatemala’s banking system remains sound, with solid capital and liquidity buffers and strong profitability. The authorities have made important progress in bolstering the regulatory and supervisory framework through enhanced credit risk regulations, more robust stress testing, broader regulatory coverage, and the inclusion—on a voluntary basis—of savings and credit cooperatives in the Credit Risk Information System. These efforts should be reinforced by expanding risk-based supervision and strengthening oversight of fintech and digital financial services. Adopting revisions to the 2002 Law on Banks and Financial Groups, transitioning to International Financial Reporting Standards, advancing the draft Secondary Market Law, approving the e-money law and continued implementation of other elements of the financial inclusion strategy are needed.

    Governance and Structural Agenda

    Strengthening governance and advancing structural reforms are critical to fostering inclusive growth and restoring public trust. Key legislative priorities include the adoption of a revised AML/CFT Law aligned with international standards, the Beneficial Ownership Law, the Public Procurement Law and the Law for the Protection of Whistleblowers to ensure secure reporting channels and legal safeguards. With GAFILAT mutual evaluation expected in 2027, further delays with the AML/CFT law could complicate Guatemala’s path to investment grade. Institutional progress—such as the creation of the National Commission Against Corruption and the rollout of probity offices across executive institutions—should be consolidated through a medium-term anti-corruption strategy. Accelerating infrastructure investment through amendments to the law on Partnerships for Development of Economic Infrastructure, and a new law on ports is essential to close persistent gaps and crowd in private investment. Continued efforts to formalize the economy and improve the business environment will help prepare the economy for the impact of lower net emigration on the labor market.

    The mission wishes to thank the Guatemalan authorities for their cooperation and openness in the exchanges throughout our visit and wishes them every success in their efforts to move the country towards a new equilibrium characterized by high, inclusive and sustainable growth.

    Guatemala: Selected Economic Indicators

     

     

    Projections

    2023

    2024

    2025

    2026

    2027

    2028

    2029

       (Annual percent change, unless otherwise indicated)

    Income and prices

    Real GDP

    3.5

    3.7

    3.8

    3.6

    3.6

    3.7

    3.8

    Inflation (average)

    6.2

    2.9

    2.4

    4.0

    4.0

    4.0

    4.0

    (In percent of GDP, unless otherwise indicated)

    External Sector

     

    Current Account Balance

    3.1

    2.9

    2.5

    1.7

    1.3

    0.7

    0.2

    Trade Balance (goods and services)

    -15.1

    -15.5

    -15.9

    -15.8

    -15.4

    -15.0

    -14.7

    Remittances

    19.0

    19.0

    18.8

    18.0

    17.1

    16.3

    15.5

    Financial Account (“+” = net lending)

    2.7

    2.5

    2.5

    1.7

    1.3

    0.7

    0.2

    Central Government Finances

    Total Revenues

    12.5

    12.4

    12.4

    12.4

    12.4

    12.4

    12.4

    Tax Revenues

    11.7

    11.8

    11.7

    11.7

    11.7

    11.7

    11.7

    Total Expenditure

    13.7

    13.4

    15.0

    15.1

    15.3

    15.2

    15.2

    Current

    11.2

    11.0

    11.8

    11.7

    11.9

    11.9

    12.0

    Capital

    2.5

    2.4

    3.2

    3.4

    3.4

    3.3

    3.2

    Primary Balance

    0.4

    0.7

    -1.0

    -1.1

    -1.2

    -1.0

    -1.0

    Overall Balance

    -1.3

    -1.0

    -2.6

    -2.8

    -2.9

    -2.8

    -2.8

    Central Government Debt

    Gross Central Government Debt

    27.2

    26.3

    27.1

    28.0

    28.9

    29.6

    30.2

    Source: Bank of Guatemala; Ministry of Finance; and Fund staff estimates and projections. 

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/06/23/guatemala-staff-concluding-statement-of-the-2025-article-iv-mission

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  • MIL-OSI Russia: IMF Executive Board Concludes Bangladesh Combined Third and Fourth Reviews under the Extended Credit Facility, Extended Fund Facility, and Resilience and Sustainability Facility

    Source: IMF – News in Russian

    June 23, 2025

    • The IMF Executive Board concluded the combined third and fourth reviews of Bangladesh’s arrangements under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) and approved an extension, augmentation and rephasing of access. This decision provides Bangladesh with immediate access to about US$884 million.
    • The IMF Executive Board also concluded the combined Third and Fourth Reviews of Bangladesh’s arrangement under the Resilience and Sustainability Facility (RSF), making available about US$453 million to support the Bangladesh economy’s resilience to climate change.
    • Bangladesh’s program performance has been broadly satisfactory despite the difficult political and economic context and increased downside risks. Advancing the reform agenda is critical to restoring economic stability, protecting the vulnerable, and supporting inclusive and environmentally sustainable growth.

    Washington, DC: The Executive Board of the International Monetary Fund completed the combined Third and Fourth Reviews of Bangladesh’s arrangements under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF). The Executive Board also approved an augmentation of SDR 567.19 million (53.2 percent of quota) for the ECF/EFF arrangements and a six-month extension. Completion of these reviews allows the authorities to immediately withdraw SDR 650.5 million (about US$884 million) under the ECF/EFF, and SDR 333.3 million (about US$453 million) under the RSF.[1]

    Further, the IMF Executive Board approved a modification of performance criteria and granted a waiver for the non-observance of the performance criterion related to the non-imposition and non-intensification of exchange restrictions, based on the temporary nature of the non-observance and the implementation of corrective measures.

    Bangladesh’s arrangements under the ECF/EFF/RSF  were approved on January 30, 2023, in an amount equivalent to SDR 2.5 billion (154.3 percent of quota or about US$3.3 billion) under the ECF/EFF and SDR 1 billion (93.8 percent of quota or about US$1.4 billion) under the RSF (PR no. 23/25)

    The augmentation approved by the Executive Board today brings the total financial assistance under the ECF and EFF arrangements to SDR 3,035.65 million (about US$ 4.1billion), alongside concurrent RSF arrangements of SDR 1 billion (about US$1.4 billion). The enlarged enhanced ECF/EFF is aimed at restoring macroeconomic stability, promoting inclusive growth, and protecting the vulnerable. The RSF arrangement has secured fiscal space needed to build resilience against climate risks.

    Bangladesh’s macroeconomic challenges have increased since the popular uprising in the summer of 2024, which led to the ouster of the previous government. The timely formation of an interim government has helped stabilize political and security conditions, fostering a gradual return to economic stability. However, the economic outlook has worsened due to persistent political uncertainty, continuation of tighter policy mix, rising trade barriers, and increasing stress in the banking sector.

    Program performance for the third and fourth reviews remains broadly satisfactory despite the difficult political and economic context. The authorities are fully committed to implementing necessary policies under the program and have recently pressed forward with critical reforms to increase exchange rate flexibility and boost tax revenues.

    The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Executive Board Assessment[3]

    Following the Executive Board’s discussion, Mr. Nigel Clarke, Deputy Managing Director, and Acting Chair, made the following statement:

    “Bangladesh’s economy continues to navigate multiple macroeconomic challenges. Despite a difficult environment, program performance has remained broadly on track, and the authorities are committed to implementing necessary policy actions and reforms. The IMF-supported programs are helping safeguard macroeconomic stability and protect the most vulnerable, while accelerating reforms to support resilient and inclusive growth.

    “Near-term policies should prioritize rebuilding external resilience and reducing inflation. The authorities’ recent steps to implement a new exchange rate regime and include revenue-enhancing measures in the FY2026 budget are welcome. A balanced policy mix—anchored in maintaining a tight monetary policy stance, greater exchange rate flexibility, and revenue-based fiscal consolidation—will support efforts to restore both external and internal balances.

    “Efforts to raise tax revenues and rationalize expenditures—including through subsidy reduction—are critical for creating the fiscal space needed to strengthen social, development, and climate initiatives. Sustained progress in reducing government subsidies to a fiscally sustainable level, along with enhanced public financial management, is essential to improving spending efficiency and mitigating fiscal risks.

    “Financial sector policy should prioritize safeguarding stability and addressing rising vulnerabilities. Developing a comprehensive, sequenced strategy to guide reforms is an immediate priority, followed by the swift implementation of the new legal frameworks to enable orderly bank restructuring while protecting small depositors.

    “Sustained structural reforms are essential for Bangladesh to achieve its goal of attaining upper middle-income status. Key priorities include diversifying exports, attracting greater foreign direct investment, strengthening governance, and enhancing data quality.

    “Building resilience to natural disasters is essential for achieving high and inclusive growth. The RSF’s focus on strengthening institutions and policy coordination as well as on enhancing the efficiency of climate-related spending remains critical, including in helping mobilize climate finance.”

    Bangladesh: Selected Economic Indicators, FY2022-27 1/

     

    FY22

    FY23

    FY24

    FY25

    FY26

    FY27

                 
           

    Projections

                 
                 

    Real GDP

    7.1

    5.8

    4.2

    3.8

    5.4

    6.2

        Consumption

               

         Private

    7.5

    2.0

    6.0

    6.0

    5.4

    5.4

         Public

    6.2

    8.5

    9.8

    4.1

    -4.3

    16.1

    Gross Capital Formation

    11.7

    2.2

    3.3

    -0.1

    5.8

    6.8

         Private

    11.8

    2.9

    4.3

    0.3

    3.3

    5.2

         Public

    11.1

    0.0

    -0.2

    -1.3

    14.9

    11.9

    Trade

               

         Exports of goods and services

    29.4

    8.0

    -17.1

    5.2

    19.8

    12.7

         Imports of goods and services

    31.2

    -9.8

    -4.6

    5.8

    11.6

    11.9

                 

     

    Prices

               

       GDP deflator

    5.0

    6.9

    6.9

    10.3

    6.2

    6.5

       CPI inflation (annual average)

    6.1

    9.0

    9.7

    9.9

    6.2

    6.3

       CPI inflation (end of period)

    7.6

    9.7

    9.7

    8.3

    6.5

    5.9

                 
                 
                 

     

    Central government operations (in percent of GDP)

    Total revenue and grants

    8.9

    8.2

    8.3

    8.7

    9.5

    10.0

    Of which: Tax revenue

    8.0

    7.3

    7.4

    7.7

    8.6

    9.2

    Total expenditure

    13.0

    12.7

    12.1

    12.8

    13.5

    14.5

    Of which: Annual Development Program (ADP)

    4.7

    4.3

    3.8

                 

    Overall balance (including grants)

    -4.1

    -4.5

    -3.8

    -4.2

    -4.1

    -4.5

    (excluding grants)

    -4.2

    -4.6

    -3.9

    -4.3

    -4.1

    -4.6

    Primary balance (including grants)

    -2.1

    -2.5

    -1.5

    -2.0

    -2.0

    -2.2

                 

        Public sector total debt 2/

    37.9

    39.7

    41.0

    40.7

    41.8

    42.1

    Of which: External debt

    15.4

    17.5

    18.6

    18.6

    19.2

    18.6

                 
                 

     

    Balance of Payments (in percent of GDP)

               

         Current account balance

    -4.0

    -2.6

    -1.4

    -1.0

    -0.7

    -0.9

              Trade balance

    -8.0

    -4.7

    -5.9

    -5.9

    -5.1

    -5.3

        Capital account balance

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

        Financial account balance

    3.6

    1.5

    1.0

    1.1

    1.4

    1.7

                   Foreign direct investment, net

    0.4

    0.4

    0.4

    0.2

    0.5

    0.6

    Gross international reserves (billions of U.S. dollars)

    33.4

    24.8

    21.7

    23.6

    29.0

            in months of next year’s imports

    5.0

    4.1

    3.3

    3.2

    3.5

    3.7

                 

     

    Monetary and Credit (in percent of GDP)

               

    Reserve money

    8.7

    8.5

    8.2

    8.2

    8.9

    9.1

    Broad money (M2)

    52.9

    50.7

    48.4

    45.0

    45.5

    46.4

    Credit to private sector

    36.6

    35.3

    34.5

    32.0

    31.7

    32.2

    Credit to private sector (percent change)

    13.7

    9.1

    8.8

    6.2

    10.7

    14.8

                 

     

    Savings and Investment (in percent of GDP)

               

        Gross national savings

    29.3

    29.9

    28.3

    28.7

    28.8

    28.8

        Public

    1.2

    0.3

    0.5

    0.3

    1.4

    1.5

        Private

    28.2

    29.7

    27.9

    28.4

    27.4

    27.2

                 

         Gross investment

    32.0

    31.0

    30.7

    29.6

    29.5

    29.7

         Public

    7.5

    6.8

    6.7

    6.4

    7.0

    7.3

         Private

    24.5

    24.2

    24.0

    23.2

    22.5

    22.4

                 

     

    Memorandum item:

               

    Nominal GDP (in billions of taka)

    39,717

    44,908

    50,027

    57,246

    64,116

    72,509

                 

    Sources: Bangladesh authorities; and IMF staff estimates and projections.

    1/ Fiscal year begins on July 1 and ends on June 30.

    2/ Includes central government’s gross debt, including debt owed to the IMF, plus domestic bank borrowing by nonfinancial public sector and public enterprises’ external borrowing supported by government guarantees, including short-term oil-related suppliers’ credits.

    [1] SDR figures for the disbursed are converted at the market rate of U.S. dollar per SDR on the day of the Board approval.

    [2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/bangladesh page.

    [3] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/06/23/pr-25213-bangladesh-imf-concludes-combined-3rd-and-4th-reviews-under-the-ecf-eff-and-rsf

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  • MIL-OSI USA: Chairman Mast Applauds House Vote to Defund Biden’s Cash Payments to Taliban

    Source: US House Committee on Foreign Affairs

    Media Contact 202-321-9747

    WASHINGTON, D.C. – Today, House Foreign Affairs Committee Chairman Brian Mast issued the following statement after the House voted in favor of a bill sponsored by Rep. Tim Burchett (R-TN) to ensure no more U.S. tax dollars fall into the hands of the Taliban after the Biden administration paid the terrorist regime millions of dollars following the disastrous withdrawal from Afghanistan.

    “This bill makes sure not a single penny of American taxpayer money ends up in the hands of the Taliban—not directly, not through back doors, and not via weak-willed foreign governments or shady NGOs,” Chairman Mast said. “If you’re funding the Taliban, you’re no friend of the United States.”

    This issue has been a key focus for House Republicans since last Congress when lawmakers were made aware that weekly cash shipments of nearly $40 million were being sent to Afghanistan’s Taliban-controlled Central Bank.

    Additionally, the Special Inspector General for Afghanistan Reconstruction reported in May 2024 that more than $10 million had been paid to the Taliban in the form of taxes since they took over Afghanistan in August 2021. Secretary of State Antony Blinken later admitted that around $10 million had been paid to the Taliban in the form of taxes after testifying before the committee in December 2024. 

    Republicans, led by Rep. Burchett, introduced H.R. 6586 last Congress to oppose financial and material support from falling into the hands of the Taliban. The measure passed unanimously both in committee and on the House floor, but Senate Democrats refused to bring the bill up for final passage.

    This Congress, Republicans introduced H.R. 260 –  No Tax Dollars for Terrorist Act which builds upon H.R. 6586 to ensure no U.S. taxpayer dollars end up in the hands of the Taliban.

    The bill advanced to the House floor during the House Foreign Affairs Committee’s first full committee markup of the 119th Congress.

    “I would like to thank Chairman Mast and the entire House Foreign Affairs Committee for their tireless work on this legislation,” Rep. Burchett said. “We are one step closer to ensuring that US dollars stop flowing to terrorist organizations.”

    The measure now proceeds to the Senate for final passage.

    ###

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  • MIL-OSI USA: Governor Newsom honors fallen Los Angeles Police Sergeant

    Source: US State of California 2

    Jun 23, 2025

    SACRAMENTO – Governor Gavin Newsom issued the following statement regarding the death of Los Angeles Police Department (LAPD) Sergeant Shiou Deng:

    “Jennifer and I are heartbroken by the loss of Sergeant Deng, who dedicated more than 26 years to serving the Los Angeles community with pride and purpose. We join his family, friends, and fellow officers in mourning, and in honoring his memory. May his service never be forgotten.” 

    On June 23, LAPD Sergeant Deng was fatally injured while assisting at a crash on southbound I-405 near Getty Center Drive. After stopping to help, he was struck by another vehicle that collided with the original crash. Despite lifesaving efforts by the California Highway Patrol and the Los Angeles Fire Department, Sergeant Deng succumbed to his injuries. 

    Sergeant Deng, 53, has been with the LAPD for over 26 years. During his career, he spent 17 years in the Mental Evaluation Unit, a specialized team within the LAPD that handles calls involving individuals experiencing mental health crises. Two years ago, he was promoted to sergeant and assigned to the West Los Angeles Division.

    He is survived by his wife and parents. 

    In honor of Sergeant Deng, flags at the State Capitol and Capitol Annex Swing Space will be flown at half-staff.

    Press releases, Public safety

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  • MIL-OSI USA: Following Trump Attacks on TPS, Rosen Helps Introduce Bill to Protect TPS Recipients

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) helped introduce legislation to provide qualified Temporary Protected Status (TPS) and Deferred Enforced Departure (DED) recipients a path to permanent legal residency. The introduction of the Safe Environment from Countries Under Repression and Emergency (SECURE) Act comes as the Trump Administration undermines TPS. The Trump Administration has revoked TPS for an estimated 563,000 recipients from five countries. Although legal challenges have been filed against this action, the Supreme Court has temporarily allowed the revocation to stand, putting hundreds of thousands at risk of deportation to their home countries, where they would face serious danger.
    “The Temporary Protected Status program has been a lifeline that has allowed people and families facing unimaginable circumstances to find a safe refuge here in the United States,” said Senator Rosen. “TPS recipients contribute to our communities and our economy, and they deserve a pathway to permanent residency, which is why I’m proud to help introduce this bill. I’ll keep standing up to protect Nevada’s immigrant families.”
    Nevada is home to thousands of TPS recipients. Senator Rosen has been outspoken in her strong support for TPS recipients, DACA recipients, and their families. Last week, she urged the U.S. Citizenship and Immigration Services to resume processing applications for the DACA program, following a Fifth Circuit Court of Appeals ruling that limited a nationwide injunction to only Texas. Earlier this month, Senator Rosen took to the Senate floor to mark the thirteenth anniversary of the DACA program and deliver a forceful defense of Nevada’s Dreamers in light of the Trump Administration’s attacks on immigrant communities across the country.

    MIL OSI USA News

  • MIL-OSI USA: Following Trump Attacks on TPS, Rosen Helps Introduce Bill to Protect TPS Recipients

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) helped introduce legislation to provide qualified Temporary Protected Status (TPS) and Deferred Enforced Departure (DED) recipients a path to permanent legal residency. The introduction of the Safe Environment from Countries Under Repression and Emergency (SECURE) Act comes as the Trump Administration undermines TPS. The Trump Administration has revoked TPS for an estimated 563,000 recipients from five countries. Although legal challenges have been filed against this action, the Supreme Court has temporarily allowed the revocation to stand, putting hundreds of thousands at risk of deportation to their home countries, where they would face serious danger.
    “The Temporary Protected Status program has been a lifeline that has allowed people and families facing unimaginable circumstances to find a safe refuge here in the United States,” said Senator Rosen. “TPS recipients contribute to our communities and our economy, and they deserve a pathway to permanent residency, which is why I’m proud to help introduce this bill. I’ll keep standing up to protect Nevada’s immigrant families.”
    Nevada is home to thousands of TPS recipients. Senator Rosen has been outspoken in her strong support for TPS recipients, DACA recipients, and their families. Last week, she urged the U.S. Citizenship and Immigration Services to resume processing applications for the DACA program, following a Fifth Circuit Court of Appeals ruling that limited a nationwide injunction to only Texas. Earlier this month, Senator Rosen took to the Senate floor to mark the thirteenth anniversary of the DACA program and deliver a forceful defense of Nevada’s Dreamers in light of the Trump Administration’s attacks on immigrant communities across the country.

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  • MIL-OSI Africa: Cabo Verde: Unlocking Inclusive Growth Through Increased Resilience and Equal Opportunities


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    Cabo Verde’s economy continues on a strong recovery path, according to the latest Cabo Verde Economic Update 2025, released today by the World Bank. Real GDP in Cabo Verde grew by 7.3% in 2024, supported by robust tourism activity and a modest recovery in agriculture. However, while the country has made notable strides – particularly in macroeconomic management, debt reduction, and poverty alleviation – key vulnerabilities remain. These include reliance on tourism, exposure to external shocks, and fiscal pressures from state-owned enterprises (SOEs).

    The report, titled Unlocking Women’s Economic Potential, analyses the country’s economic growth projections, highlights progress on poverty alleviation, and outlines the structural reforms needed to ensure sustained and inclusive growth. The report also includes a special topic, focused on leveraging women’s economic potential.

    “Cabo Verde’s recovery is a testament to the resilience of its people and institutions. But to transform this rebound into lasting and inclusive prosperity, bold reforms are needed – particularly to improve SOE governance, support women’s economic participation, and diversify the economy,” said Indira Campos, World Bank Resident Representative for Cabo Verde.

    The report notes that inflation dropped to 1% in 2024 – its lowest level in recent years – helping to bring poverty down to 14.4% ($3.65 a day 2017PPP line). Public investment execution increased, debt levels continued to decline, and the current account posted a surplus for the first time in four years.

    Looking ahead, GDP growth is projected at 5.9% in 2025, with poverty expected to fall further. However, the report warns that global uncertainties, commodity price shocks, and climate risks could affect the pace of growth and reform. Among the recommendations, the report calls for accelerated efforts to improve SOE performance, prudence in creating new ventures, and for maintaining fiscal discipline while investing in high-impact projects.

    The report highlights the critical need for policies to ensure growth is inclusive. Despite progress in education and health, Cabo Verdean women continue to face labor market barriers. The report finds that closing gender gaps in employment and earnings could boost GDP by up to 12.2% in the long-term.

    To achieve this, the report recommends:

    • Expanding access to childcare and flexible work arrangements.
    • Promoting women’s skills in science, technology, engineering, and mathematics (STEM), as well as in technical and vocational education and training.
    • Tackling employer discrimination and transforming social norms.

    By aligning reform efforts with inclusive policies, Cabo Verde has a unique opportunity to strengthen resilience, empower more citizens – especially women – and build a more sustainable and equitable future,” said Anna Carlotta Massingue, Senior Country Economist.

    Distributed by APO Group on behalf of The World Bank Group.

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  • MIL-OSI Europe: Highlights – Women’s entrepreneurship in rural and island areas – Committee on Women’s Rights and Gender Equality

    Source: European Parliament

    On Wednesday, 25 June 2025, the FEMM Committee with the participation of the Committee on Agriculture will hold a public hearing on “Women’s entrepreneurship in rural and island areas and outermost regions”.

    Boosting female entrepreneurship is an effective way to develop rural, island and outermost areas: these EU regions face unique gender equality challenges due to their geographic and economic characteristics. Encouraging women and supporting them to start their own businesses can help to create opportunities and increase their participation in economy.

    The hearing aims to explore effective ways to support women in fostering resilient local economies, accessing finance, digital tools, and markets, encouraging innovation and sustainability, and advancing both policy solutions and grassroots initiatives.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Employment of people on the autism spectrum in the EU – E-000626/2025(ASW)

    Source: European Parliament

    The Staff Regulations[1] prohibit discrimination based on any ground and promote equal opportunities. In the new mandate, the Commission will continue to improve recruitment and talent management to attract and retain a skilled, diverse, versatile, and motivated workforce[2].

    As part of its Human Resources Strategy[3], the Commission is working on attracting and catering for the needs of diverse staff, including people with disabilities, and aims for a discrimination free and accessible workplace. The Diversity and inclusion in the workplace action plan 2023-2024[4] includes more targeted actions in this area.

    The European Personnel Selection Office and the Commission provide support to candidates with medical conditions and offer reasonable accommodation[5].

    Fostering access to quality and sustainable jobs is one of the priorities of the strategy for the Rights of Persons with Disabilities[6]. The Commission cooperates with stakeholders focusing on specific disabilities, and financially supports organisations such as Autism Europe.

    The Commission also takes into account the European Parliament Resolution of 4 October 2023 on harmonising the rights of autistic persons[7] in its action.

    • [1]  OJ L 56, 4.3.1968, p. 1.
    • [2] https://commission.europa.eu/document/download/58e66b7e-850f-439f-b448-652cc4f6743e_en?filename=mission-letter-serafin.pdf.
    • [3]  C(2022) 2229 final, 5.4.2022.
    • [4] https://commission.europa.eu/document/download/196676b9-9b29-4034-84ca-d75d3cd5912c_en?filename=fact-sheet-diversity-inclusion-in-workplace-action-plan-2023-2024_en_0.pdf.
    • [5]  C(2004)1318, 07.04.2004; https://eu-careers.europa.eu/en/selection-procedure/equal-opportunities-diversity-inclusion.
    • [6] COM/2021/101 final, 3.3.2021.
    • [7] P9_TA(2023)0343.
    Last updated: 23 June 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Ensuring transparency, efficiency and equal access in the Recovery and Resilience Facility’s digitalisation projects – E-001668/2025(ASW)

    Source: European Parliament

    The RRF[1] supports reforms and investments proposed by the Member States, who are responsible both for their design and their implementation.

    In their Recovery and Resilience Plans (RRPs), Member States explain how measures contribute to the digital transition. They are also required to assign relevant measures in their plan to a digital intervention field (IF) according to the methodology in Annex VII of the RRF Regulation[2].

    Several IFs focus on the digitalisation of s mall and medium-sized enterprises (SME) and startups and on actions supporting digital skills development, which can benefit SMEs. Support for the digitalisation of public administration, including the regional level, are captured, too.

    Member States update the Commission on the implementation status of milestones and targets twice a year and the Commission assesses the fulfilment of the requirements set in the Council implementing decisions in the context of the payment requests submitted by Member States.

    The RRF Regulation requires Member States to report twice a year on the 100 final recipients of the largest amount of funding, which are published on the Recovery and Resilience Scoreboard. Many digital projects can also be found in the map on the Commission’s RRF website[3].

    Member States are encouraged to consult and involve stakeholders in each phase — design and implementation — to ensure impactful and relevant measures.

    During implementation, Member States must comply with national and EU legislation, including state aid and public procurement rules.

    However, the RRF Regulation does not set any requirement for RRPs to benefit a specific sector or type of beneficiaries, leaving it to the Member States to identify the most appropriate ones according to their own national challenges.

    • [1] Recovery and Resilience Facility.
    • [2] Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility.
    • [3] https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility_en#map .

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Energy sanctions against Russia and audit request – E-001144/2025(ASW)

    Source: European Parliament

    Following the Russian military aggression against Ukraine, the EU has acted firmly to cut its reliance on Russian energy. REPowerEU[1] aims to phase out Russian fossil fuel imports, accelerate the clean transition, diversify supplies and enhance EU energy resilience.

    To put pressure on Russia to cease its war of aggression against Ukraine, the EU has adopted 17 packages of massive and unprecedented restrictive measures[2], including sanctions to ban coal and oil imports from Russia and to target the ‘shadow’ fleet[3].

    Sanctions and diversification away from an unreliable supplier have reduced the share of oil imports from Russia from almost a third to 3% of total EU imports .

    Losing this lucrative market has a significant effect on Russia’s economy, whose budget relies largely on oil revenues. Price caps, agreed with the international G7+ Price Cap Coalition, have further reduced Russia’s oil revenues and helped to stabilise global energy markets.

    There are no sanctions on the import of Russian natural gas. Sanctions therefore play no role in the increase in gas prices in 2022. This was largely due to Russia weaponising gas supplies and inflating prices with its reduced supply.

    The EU cut its Russian gas imports from over 45% in 2021 to 19% in 2024, replacing it with alternatives like liquefied natural gas from other sources.

    Moving to reliable suppliers has made the EU more resilient to price shocks. This will further be taken into account in the revision of the Security of Supply Framework due in 2026.

    Sanctions have an impact on the Russian economy, which is shrinking, facing serious inflationary pressures and challenges with cross-border payments as well as inability to attract funds in the international markets and distortions in various economic sectors.

    • [1] https://commission.europa.eu/publications/key-documents-repowereu_en.
    • [2] https://finance.ec.europa.eu/eu-and-world/sanctions-restrictive-measures/sanctions-adopted-following-russias-military-aggression-against-ukraine_en.
    • [3] The ‘shadow’ fleet is composed of vessels practicing irregular and high-risk shipping practices as set out in the International Maritime Organisation General Assembly resolution A.1192(33).

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – EUR 2.5 billion in financial aid earmarked by the EU for Syria – E-001300/2025(ASW)

    Source: European Parliament

    The EU continues to call for an end of violence across Syria and urges all parties to protect all Syrians from all backgrounds without discrimination.

    The EU, gravely alarmed by the violence in Syria’s coastal region, issued a statement strongly condemning the horrific crimes committed against civilians[1].

    It also called for a swift, transparent and impartial investigation to ensure perpetrators are brought to justice and to prevent any such crimes from happening again and welcomed the commitments made by the transitional authorities, particularly the establishment of an investigative committee.

    The EU remains attentive to the actions of the new authorities in ensuring the protection of all Syrians without any kind of discrimination and consistently supports an inclusive, peaceful, Syrian-owned and Syrian-led political transition grounded in the respect for international law, human rights, fundamental freedoms, pluralism and tolerance among all components of society. It continues to be a staunch supporter of accountability mechanisms working on Syria.

    The EU’s current approach, in terms of non-humanitarian assistance, is gradual and conditional to the steps taken by the transition government.

    Such EU assistance provided follows strict implementation parameters and is subjected to extensive monitoring and evaluation mechanisms, including third party monitoring and risk assessments.

    The EU delivers humanitarian assistance through pre-certified partners in all parts of Syria without discrimination, based on people’s needs, humanitarian principles, accountability to affected populations, transparency, efficiency, and effectiveness.

    • [1] https://www.consilium.europa.eu/en/press/press-releases/2025/03/11/syria-statement-by-the-high-representative-on-behalf-of-the-european-union-on-the-recent-wave-of-violence/pdf/.

    MIL OSI Europe News

  • MIL-OSI Canada: Planning summer travels? The CBSA gives tips for a smooth trip into Canada

    Source: Government of Canada News (2)

    June 23, 2025
    Ottawa, Ontario

    The Canada Border Services Agency (CBSA) reminds travellers to plan ahead when crossing the border this summer.

    Every day, the CBSA works hard to protect Canadians, support the economy and ensure the safe and efficient movement of people and goods across the border. In 2024, we welcomed over 93.4 million travellers, stopped over 34,400 kg of illegal drugs from entering our communities and kept more than 17,200 weapons and 930 firearms off our streets.

    The CBSA plans and prepares for long weekends and summer travel. We monitor traveller volumes and prioritize efficient processing of travellers at land ports of entry and at international airports, without compromising safety and security. If you encounter wait times at the border, it is likely because we are working behind the scenes to conduct examinations, seize drugs, firearms or stolen vehicles, or prevent high-risk individuals from entering Canada.

    Here are some travel tips to help you plan for your trip:

    • Have your travel documents  readily available to present to an officer. This will speed up processing times at the border.
    • Be prepared to declare. Declare everything you have with you upon entry into Canada. If you arrive by land, you are responsible for everything inside your vehicle.
      • Goods purchased abroad: If you are a resident of Canada, personal exemptions allow you to bring goods, including alcohol and tobacco up to a certain value, back to Canada without paying regular duty and taxes. Make sure you know the value of goods you are bringing back in Canadian dollars and have your receipts available for the officer.
      • Surtaxes on certain U.S. goods. If you’ve purchased goods in the U.S. and are bringing them into Canada, you may have to pay a 25% surtax in addition to regular duties and taxes. For residents of Canada, this surtax applies only to goods exceeding your personal exemptions limit. Consult the lists of products surtaxed: complete lists of goods subject to the surtax. Visit the CBSA website for more details on how these surtaxes apply at the border
    • Flying into Canada? Use Advance Declaration and make your customs declaration up to 72 hours in advance of your arrival into Canada at participating airports.
    • Driving into Canada? Check border wait times to plan your route.
      • Early mornings are the best time to cross the border to avoid wait times.
      • The Monday of holiday long weekends tend to be the busiest.
      • Consider an alternative port of entry with shorter wait times or less traffic.
      • Check the port of entry’s hours of operation on the official CBSA Directory of Offices and Services.
      • If you are using a GPS application (such as Google Maps, Apple Maps or Waze) to direct you to a port of entry, consider checking different navigation options (such as fastest and shortest routes) to determine the preferred route of travel.
    • Entering Canada by boat? If you are planning to travel in or near Canadian waters, or enter Canada by boat, you should review Reporting requirements for private boat operators before making travel plans. All travellers entering Canada by boat must report to the CBSA without delay.
    • When travelling with children who are not your own or for whom you don’t have full legal custody, we recommend you have a consent letter from the parent or legal guardian authorizing you to travel with the child. We are always watching for missing children, and in the absence of the letter, officers may ask additional questions.
    • Bringing fireworks into Canada? Consult Importing, exporting and transporting fireworks to ensure that the ones you are bringing in are authorized.
    • If you are planning on camping in Canada, note that bringing in firewood from outside of Canada is not permitted as invasive insects and diseases may be present within the wood. Help protect our forests; buy local and burn local.
    • Know before you go: review the restricted and prohibited goods to avoid the possibility of penalties, including fines, seizure or prosecution. Make sure you have the information you need before attempting to bring items into Canada.
    • Leave behind: firearms, weapons, narcotics, and cannabis.

    We encourage you to read and follow all of our travel tips before arriving at the border.

    Not sure? Ask a CBSA officer. The best way to save time is to be open and honest with the border services officer. If you are not sure about what to declare, don’t hesitate to ask!

    For more information, visit the CBSA website or call us at 1-800-461-9999.

    MIL OSI Canada News

  • MIL-OSI USA: Update on Public Safety Efforts Amidst Ongoing Conflict

    Source: US State of New York

    arlier today, Governor Kathy Hochul updated New Yorkers on ongoing public safety efforts amidst the ongoing conflict in the Middle East.

    VIDEO: The event is available to stream on YouTube here and TV quality video is available here (h.264, mp4).

    AUDIO: The Governor’s remarks are available in audio form here.

    A rush transcript of the Governor’s remarks is available below:

    Before I take questions about our energy announcement today, I want to address the conflict in the Middle East, and I know it’s a great time of uncertainty and fear in so many communities across the State of New York. And just to reaffirm, as we monitor this by the second, there are no credible threats against New York at this time.

    Just a short time ago, I convened over 100 religious and community leaders on a call to be able to let them know all the steps we’ve taken since I first became aware of the situation and immediately convened my top security team: counterintelligence, State Police, all of our partners and Homeland Security to talk about what we can do.

    Now, we also put all of our State agencies on high alert: talking about the Thruway Authority, the DOT, the subway system downstate New York — the MTA, all of our trains, our airports, water systems, utilities, NYPA. So all these are actually vulnerabilities, but it’s not something that hasn’t been contemplated. We tabletop exercises. We drill. We have highly professional individuals who are stepping up to do what they’ve been trained to do, and that is to protect our homeland and to protect the people of the State of New York.

    Also, I want to make sure we know we’re protecting all the bridges and tunnels, passenger lines and preparing for attacks on cyber infrastructure. These enormous facilities are run on technology. Cyber attacks can be crippling. We’ve had counties, hospitals under the State of New York that were attacked with ransomware threats. There’s no easy way out of those. So that’s why as the Governor, I’ve invested millions of dollars to give money to different counties so they can harden their assets and make sure that they can protect critical data that’s used to deliver services to New Yorkers.

    And also, there’s a lot of people feeling scared. They have family members in the Middle East. Religious groups, whether it’s the Jewish or Muslim communities, we have the largest groups in the State of New York of anywhere in the country, and we’re going to continue letting them know we’ll defend and fight against hate crimes. Our State Police Hate Crimes Task Force is on high alert, ready to assist anyone who needs help. So we’ll be increasing our patrols and already have at houses of worship as well.

    Lastly, I want to say this is an opportunity for New Yorkers to come together, put aside political differences and all the hatred that’s spewing online. Knowing that we have vulnerable assets. We are a vulnerable place. We are a place that has been attacked before. We are the financial capital of the world, the head of the cultural center for our country and indeed the world as well, and a place again that has withstood attacks in the past. So, as we remain on high alert, I want New Yorkers to remain on high alert, and get back to that tried and true phrase, “If you see something, say something.”

    There have been a number of attacks that have been thwarted because of vigilant individuals — our civilians who’ve stepped up and reported what they’ve seen, and we need them activated and engaged right now. But we will get through this time, and let us not forget the brave men and women of our [armed] services who are putting themselves in harm’s way every single day, and pray for them and a speedy de-escalation of this conflict and ultimately peace in the region.

    MIL OSI USA News

  • MIL-OSI USA: Florida Nonprofit Founder and Accountant Charged with Stealing Over $100M from Special Needs Victims

    Source: US State of North Dakota

    An indictment was unsealed today charging two Florida men in connection with a fraudulent scheme to steal over $100 million from a nonprofit organization that managed funds for people with special needs and disabilities.

    “As alleged, for over 15 years, the defendants conspired to use the funds of special needs clients as a personal piggy bank, stealing $100 million dollars meant for the most vulnerable members of our society to enrich themselves,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Today’s charges reflect the Criminal Division’s ongoing commitment to prosecuting sophisticated fraudsters who abuse the trust of their victims. Thanks to the relentless efforts of our multiagency partners, we will continue to aggressively pursue accountability for perpetrators who exploit Americans out of greed.”

    “Protecting the most vulnerable members of our society is a priority of the U. S. Attorney’s Office,” said U.S. Attorney Gregory W. Kehoe for the Middle District of Florida. “The fraud alleged in this nationwide scheme is unfathomable. Due to the diligence and interagency collaboration by our dedicated law enforcement partners, these crimes will be prosecuted to the fullest extent of the law.”

    “The subjects charged are accused of creating a slush fund to divert millions of dollars away from a nonprofit organization helping people with special needs,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “Not only were the organization’s resources drained, but the accused subjects betrayed the trust of the community and ultimately bankrupted a lifeline for vulnerable families. The FBI will not tolerate the exploitation of charitable missions for personal enrichment.”

    “The scale and audacity of the alleged fraud in this case are deeply troubling,” said Criminal Investigation Chief Guy Ficco of the IRS. “Stealing funds intended to protect and support people with special needs is as cruel as it is criminal. IRS-CI special agents are dedicated to uncovering complex financial schemes, especially those that prey on the most vulnerable in our society.”

    “The defendant disrupted access to critical services for individuals with disabilities and defrauded federal health care programs with the sole purpose of financing a life of extravagance,” said Deputy Inspector General for Investigations Christian J. Schrank of the U. S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG, in collaboration with our law enforcement partners, will continue to hold those who’s illicit actions seek to assail enrollees and the nation’s federal health care programs fully accountable.”

    According to court documents, Leo John Govoni, 67, of Clearwater, Florida, co-founded the Center for Special Needs Trust Administration (CSNT) in or around 2000 and John Leo Witeck, 60, of Tampa, Florida, worked at CSNT as an accountant. CSNT allegedly was a nonprofit that managed money for people with disabilities and other special needs, including those who received court awards, settlements, and other payments. CSNT grew to be one of the largest administrators of special needs trusts in the country, with beneficiaries located in almost every state. As of February 2024, the indictment alleges, CSNT managed over 2,100 special needs trusts containing approximately $200 million.

    As alleged in the indictment, from June 2009 through May 2025, Govoni, Witeck, and their co-conspirators solicited, stole, and misappropriated CSNT client-beneficiary funds — which they treated as a slush fund to enrich themselves and others — and concealed their illegal activities through complex financial transactions and deceit, including sending fraudulent account statements with false balances to disabled victims. Govoni allegedly used stolen money to purchase real estate, travel via private jet, fund a brewery, make deposits into his personal bank accounts, and pay personal debts. In 2024, CSNT filed for bankruptcy and disclosed that more than $100 million in client-beneficiary funds were missing from its trust accounts. Govoni is alleged to have made false declarations to the bankruptcy court related to the CSNT bankruptcy proceedings.

    Separately, Govoni is also alleged to have committed bank fraud related to a $3 million mortgage refinance loan and to have laundered $205,054 of the proceeds to pay off a home equity line of credit on his residence.

    Govoni and Witeck were both charged with conspiracy to commit wire and mail fraud, wire fraud, mail fraud, and money laundering conspiracy. Govoni was additionally charged with bank fraud, illegal monetary transactions, and false bankruptcy declarations.

    If convicted, both defendants face a maximum penalty of 20 years in prison on the wire fraud, mail fraud, conspiracy to commit wire and mail fraud, and money laundering conspiracy charges. If convicted, Govoni faces a maximum penalty of 30 years in prison on the bank fraud charge, 10 years in prison on the illegal monetary transactions charge, and five years in prison on the false bankruptcy declaration charge.

    The FBI, IRS-CI, HHS-OIG, and SSA-OIG are investigating the case.

    Trial Attorney Lyndie Freeman of the Criminal Division’s Fraud Section and Assistant U. S. Attorneys Jennifer Peresie and Michael Gordon for the Middle District of Florida are handling the prosecution.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. 

    MIL OSI USA News

  • MIL-OSI Security: Chesterfield Doctor Sentenced to Five Years in Prison for Healthcare Fraud

    Source: US FBI

    ST. LOUIS – U.S. District Judge Henry E. Autrey on Friday sentenced a doctor who committed healthcare fraud to five years in prison and ordered him to repay $2.87 million.

    Dr. Stanley L. Librach, now 64, of Chesterfield, pleaded guilty in August in U.S. District Court in St. Louis to one count of conspiracy, one count of illegally prescribing controlled substances, one count of paying illegal kickbacks for referrals and one count of health care fraud. He admitted participating in healthcare fraud schemes involving both kickbacks and the illegal prescribing of controlled substances.

    In one scheme, Dr. Librach, Dr. Asim Muhammad Ali, and chiropractor Jerry Dale Leech agreed to send urine samples for testing to Central Diagnostic Laboratory (CDL) in exchange for illegal kickbacks that went to business entities owned by Leech and Denis J. Mikhlin. CDL then sought reimbursement from Medicare and Medicaid for the testing. Dr. Librach also sent urine samples directly from his own separate private practice clinic to CDL. In exchange, Dr. Ali paid the wages of Dr. Librach’s employees.

    In another scheme, Dr. Librach, Dr. Ali and Leech wrote prescriptions for the powerful pain medication oxycodone and other controlled substances when there was no legitimate medical purpose and while acting outside the usual course of professional conduct. Drs. Librach and Ali had not examined the patients at the pain clinics with which they were associated. They did not determine that the patients whose names appeared on prescriptions had a medical need for the controlled substances. Instead, they spent several hours one day a week pre-signing prescriptions that would be used for patients at upcoming visits. The doctors did not examine or evaluate the patients and rarely looked at patient charts before signing prescriptions. The doctors signed prescriptions for patients whose test results indicated that they were selling or otherwise diverting the controlled substances and did not address that obvious drug diversion. The conspirators knew that pharmacies would seek reimbursement for the medications from Medicare and Medicaid.

    “This provider was involved in multiple elaborate healthcare fraud schemes that involved accepting kickbacks and illegally prescribing dangerous and addictive opioids for financial gain,” said Linda T. Hanley, Special Agent in Charge with the U.S. Department of Health and Human Services, Office of the Inspector General (HHS-OIG).  “HHS-OIG remains committed to working closely with our law enforcement partners to protect patients and protect the integrity of federal healthcare programs.”

    Special Agent in Charge Michael A. Davis heads the Drug Enforcement Administration division that leads DEA investigations in Kansas and Missouri. “Because opioids are highly addictive, doctors have a duty to ensure they are prescribing controlled medications according to law to protect their patients’ health and safety,” said Davis.

    Eleven defendants were indicted in 2020, including three doctors, their staff and purported patients. A twelfth was added in 2022. All have pleaded guilty.

    Dr. Ali, 54, of Creve Coeur, pleaded guilty in May of 2024 to charges similar to the ones to which Dr. Librach pleaded. He is scheduled to be sentenced in August. Leech, 52, of Creve Coeur, pleaded guilty in 2021 to one count of conspiracy, one count of obtaining a controlled substance by fraud, one count of paying illegal kickbacks for referrals and one count of health care fraud. He is scheduled to be sentenced in September. Mikhlin, 46, of Chesterfield, was sentenced in 2021 to nine years in prison and ordered to repay $181,265.

    The HHS-OIG, the DEA, the Missouri Attorney General’s Medicaid Fraud Control Unit, the Federal Bureau of Investigation, the Defense Criminal Investigative Service investigated the case. Assistant U.S. Attorneys Amy Sestric, Derek Wiseman and Jonathan Clow are prosecuting the case.

    MIL Security OSI

  • MIL-OSI Security: Florida Nonprofit Founder and Accountant Charged with Stealing Over $100M from Special Needs Victims

    Source: United States Attorneys General

    An indictment was unsealed today charging two Florida men in connection with a fraudulent scheme to steal over $100 million from a nonprofit organization that managed funds for people with special needs and disabilities.

    “As alleged, for over 15 years, the defendants conspired to use the funds of special needs clients as a personal piggy bank, stealing $100 million dollars meant for the most vulnerable members of our society to enrich themselves,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Today’s charges reflect the Criminal Division’s ongoing commitment to prosecuting sophisticated fraudsters who abuse the trust of their victims. Thanks to the relentless efforts of our multiagency partners, we will continue to aggressively pursue accountability for perpetrators who exploit Americans out of greed.”

    “Protecting the most vulnerable members of our society is a priority of the U. S. Attorney’s Office,” said U.S. Attorney Gregory W. Kehoe for the Middle District of Florida. “The fraud alleged in this nationwide scheme is unfathomable. Due to the diligence and interagency collaboration by our dedicated law enforcement partners, these crimes will be prosecuted to the fullest extent of the law.”

    “The subjects charged are accused of creating a slush fund to divert millions of dollars away from a nonprofit organization helping people with special needs,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “Not only were the organization’s resources drained, but the accused subjects betrayed the trust of the community and ultimately bankrupted a lifeline for vulnerable families. The FBI will not tolerate the exploitation of charitable missions for personal enrichment.”

    “The scale and audacity of the alleged fraud in this case are deeply troubling,” said Criminal Investigation Chief Guy Ficco of the IRS. “Stealing funds intended to protect and support people with special needs is as cruel as it is criminal. IRS-CI special agents are dedicated to uncovering complex financial schemes, especially those that prey on the most vulnerable in our society.”

    “The defendant disrupted access to critical services for individuals with disabilities and defrauded federal health care programs with the sole purpose of financing a life of extravagance,” said Deputy Inspector General for Investigations Christian J. Schrank of the U. S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG, in collaboration with our law enforcement partners, will continue to hold those who’s illicit actions seek to assail enrollees and the nation’s federal health care programs fully accountable.”

    According to court documents, Leo John Govoni, 67, of Clearwater, Florida, co-founded the Center for Special Needs Trust Administration (CSNT) in or around 2000 and John Leo Witeck, 60, of Tampa, Florida, worked at CSNT as an accountant. CSNT allegedly was a nonprofit that managed money for people with disabilities and other special needs, including those who received court awards, settlements, and other payments. CSNT grew to be one of the largest administrators of special needs trusts in the country, with beneficiaries located in almost every state. As of February 2024, the indictment alleges, CSNT managed over 2,100 special needs trusts containing approximately $200 million.

    As alleged in the indictment, from June 2009 through May 2025, Govoni, Witeck, and their co-conspirators solicited, stole, and misappropriated CSNT client-beneficiary funds — which they treated as a slush fund to enrich themselves and others — and concealed their illegal activities through complex financial transactions and deceit, including sending fraudulent account statements with false balances to disabled victims. Govoni allegedly used stolen money to purchase real estate, travel via private jet, fund a brewery, make deposits into his personal bank accounts, and pay personal debts. In 2024, CSNT filed for bankruptcy and disclosed that more than $100 million in client-beneficiary funds were missing from its trust accounts. Govoni is alleged to have made false declarations to the bankruptcy court related to the CSNT bankruptcy proceedings.

    Separately, Govoni is also alleged to have committed bank fraud related to a $3 million mortgage refinance loan and to have laundered $205,054 of the proceeds to pay off a home equity line of credit on his residence.

    Govoni and Witeck were both charged with conspiracy to commit wire and mail fraud, wire fraud, mail fraud, and money laundering conspiracy. Govoni was additionally charged with bank fraud, illegal monetary transactions, and false bankruptcy declarations.

    If convicted, both defendants face a maximum penalty of 20 years in prison on the wire fraud, mail fraud, conspiracy to commit wire and mail fraud, and money laundering conspiracy charges. If convicted, Govoni faces a maximum penalty of 30 years in prison on the bank fraud charge, 10 years in prison on the illegal monetary transactions charge, and five years in prison on the false bankruptcy declaration charge.

    The FBI, IRS-CI, HHS-OIG, and SSA-OIG are investigating the case.

    Trial Attorney Lyndie Freeman of the Criminal Division’s Fraud Section and Assistant U. S. Attorneys Jennifer Peresie and Michael Gordon for the Middle District of Florida are handling the prosecution.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. 

    MIL Security OSI

  • MIL-OSI USA: PHOTOS/VIDEO: Capito, Noem Celebrate Opening of Monarch Hall at Advanced Training Center

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    [embedded content]
    Click here or on the image above to watch Senator Capito’s remarks.
    HARPERS FERRY, W.Va. — U.S. Senator Shelley Moore Capito (R-W.Va.), former chairman of the Senate Homeland Security Appropriations Subcommittee, today joined Secretary of Homeland Security Kristi Noem and U.S. Customs and Border Protection (CBP) Commissioner Rodney Scott, as well as Congressman Riley Moore (R-W.Va.), at the ribbon cutting ceremony for Monarch Hall, the newest addition to the U.S. Department of Homeland Security’s (DHS) Advanced Training Center (ATC) in Harpers Ferry.
    During her time as the top Republican on the Homeland Security Appropriations Subcommittee, Senator Capito led efforts in the Senate to secure federal funding for Monarch Hall, which will enhance training capacity for U.S. Customs and Border Protection and other Homeland Security personnel as they prepare to meet evolving threats at our nation’s borders and beyond. Senator Capito secured funding for this project in Fiscal Years (FY) 2020, 2021, 2022, and 2023.
    “Facilities like Monarch Hall are critical to ensuring that the men and women who protect our homeland receive the cutting-edge training they need. I was proud to lead the effort to secure funding for this project, and I’m grateful to Secretary Noem and Commissioner Scott for joining us today to celebrate this important milestone and see the important work happening here firsthand. West Virginia plays a vital role in our national security, and this facility is another example of how our state is contributing to the safety and security of the American people,”Senator Capito said.
    “I want you all to know that I believe she [Senator Capito] is going to go down in history as one of the most effective senators that this country has ever seen. She has been so incredibly powerful in her advocacy for things that truly do matter…For years now, she has championed bringing the dollars that are necessary here to get this hall built,” Secretary Noem said.
    “I think it’s important to understand that we would not exist without Senator Capito’s support. Not just financially through appropriations, but the conversations behind the scenes, learning about the organization…I’m in a unique position coming up through the organization where I got to see the senator come out in the field when I was a Sector Chief and she just wanted to learn. I want to thank you for that because getting to know what’s behind the curtain is the important part,” Commissioner Scott said.
    The ribbon cutting ceremony highlighted the federal government’s continued commitment to supporting law enforcement training initiatives. Senator Capito has visited the facility several times, including in 2017 and 2021.
    Photos from today’s event are below:

    U.S. Senator Shelley Moore Capito (R-W.Va.) participates in the ribbon cutting ceremony for Monarch Hall at the Advanced Training Center in Harpers Ferry, W.Va. on Monday, June 23, 2025.

    U.S. Senator Shelley Moore Capito (R-W.Va.) delivers remarks at the ribbon cutting ceremony for Monarch Hall at the Advanced Training Center in Harpers Ferry, W.Va. on Monday, June 23, 2025. 

    U.S. Senator Shelley Moore Capito (R-W.Va.) participates in the ribbon cutting ceremony for Monarch Hall at the Advanced Training Center in Harpers Ferry, W.Va. on Monday, June 23, 2025.

    MIL OSI USA News

  • MIL-OSI USA: Murphy Delivers Speech on Dangers of Unregulated AI During CODEL to Europe

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    June 20, 2025

    PARIS—U.S. Senator Chris Murphy (D-Conn.) delivered a major speech on the threats posed to the U.S. economy and spiritual health of Americans by unregulated artificial intelligence technology at the Paris Institute of Political Studies during a congressional delegation to Paris, France and Bucharest, Romania.

    Murphy acknowledged the potential benefits of this transformational technology: “It will likely turn out to be one of the most socially and economically disruptive technologies ever. It’s probably going to be bigger than the printing press or advanced medicine or the internet. And there’s also no doubt that it has enormous practical upsides. Medical advances will come more quickly. Production will be cheaper. Administration will become more efficient. Complex societal problems will be solved more easily.”

    But Murphy warned the Trump administration is downplaying the potential risks of unregulated AI technology, evidenced by a speech given earlier this year by Vice President J.D. Vance: “The current U.S. administration is right now fully captured by the AI industry, and they are focused only on driving up the industry’s profits at the expense of the American worker and the American family. The vice president said at that summit that the White House refuses to view AI as a purely disruptive technology that will inevitably automate away our labor force. But this is exactly what unregulated, unchecked AI will do. The vice president claimed that the White House wanted the AI driven internet to be a safe place, but refused to endorse a single rule or a single idea that would keep it safe, apparently believing the industry whitewash that they will just self-regulate and prioritize family and citizen safety above profits, something the tech industry has never done.”

    He argued the industry leaders lobbying against AI regulation are prioritizing profit over the common good: “The leaders of these companies, brimming with dangerous hubris, rapacious in their desire to build wealth and power, and far too comfortable in shrugging off the destructive power of their product… They’re in a race to deploy and commercialize and profit, and they are paying mere lip service to the ways in which AI and AGI could destroy the already fraying fabric of our country…If we don’t decide collectively as a transatlantic community to protect ourselves from the most transformational technology of our lifetime. And as I said, perhaps in the history of the world, we won’t have democracies to be able to protect the values that we care so deeply about. We won’t be able to debate domestic and foreign policy.”

    He pushed back on those who argue regulating AI in the U.S. will give China a strategic advantage in developing the technology: “Frankly, China is likely rooting for us to use American and European citizens as guinea pigs for the AI revolution because they aren’t doing that. China’s attempts at regulation have been lighter than the EU, but it’s just not true that China believes that the way to beat the United States towards AI prominence is by not regulating the industry. China would love for the United States economy to collapse, because we are less thoughtful than Beijing in controlling the job loss they would love for unchecked fake video and audio to turn our culture into chaos. They would love for our young people to become even further lost and isolated as robot friends replace real friends and real interaction. Regulating AI isn’t a gift to China – it’s a way to make sure that we manage the growth of AI in a way that makes sure that we beat the Chinese in this race.”

    ##

    MIL OSI USA News

  • MIL-OSI USA: Upcoming Presentations by Staff of CBO’s Health Analysis Division

    Source: US Congressional Budget Office

    This summer, several of my colleagues in the Congressional Budget Office’s Health Analysis Division will present their work in three sessions at the 14th Annual Conference of the American Society of Health Economists (ASHEcon) in Nashville, Tennessee. The presentations are part of the agency’s ongoing efforts to engage with the broader research community. Those efforts include calls for research, such as the agency’s recent blog post on nutritional standards in the Supplemental Nutrition Assistance Program; public posting of code; and updates on ongoing work. By engaging with researchers outside the agency, CBO improves the quality of its analysis and makes its methods and findings more transparent and available. We look forward to discussion and feedback on the following topics of this summer’s presentations:

    Spotlight Session: Putting Research to Work: How CBO Uses Research to Inform Policymakers

    Presenters
    Noelia Duchovny (CBO), Sean Lyons (CBO), Jared Maeda (CBO), J. Michael McWilliams (Harvard Medical School), Mark Shepard (Harvard University), and Bryan Tysinger (USC Schaeffer Center)

    Moderator
    Tamara Hayford (CBO)

    Session
    Spotlight Session: Putting Research to Work: How CBO Uses Research to Inform Policymakers

    Description
    CBO uses published research and discussions with experts to inform the agency’s analytical work, including estimates of the budgetary effects of proposed legislation. In addition, CBO actively engages with the research community to develop the agency’s evidence base and analytical methods. For example, CBO has published four blog posts in the past two years calling for new research on topics in the health space ranging from how health care providers respond to cost shocks to take-up rates and costs of treatment for complications from hepatitis C. Because CBO is often tasked with projecting the impact of new programs or policies on the federal budget, descriptive data and research on the impact of policy, health, and pricing shocks on health care service use and spending are particularly valuable to the agency. In this session, CBO’s Health Analysis Division highlights three examples of research that have been particularly helpful. The session will include short presentations by study authors, discussions of how the work was used and what made it helpful by CBO analysts, and a Q&A at the end for session attendees to learn about CBO’s work and what makes research particularly useful and informative.

    Tracking the Incidence of Medicare Advantage Payments

    Presenter
    Eric Schulman

    Session
    Poster Reception

    Authors
    Jared Maeda (CBO) and Eric Schulman (CBO)

    Abstract
    This paper investigates how nominal payments to Medicare Advantage (MA) plans have changed over time and how those changes have shaped economic outcomes for plans and beneficiaries. The question is policy-relevant because of differences in the relationships between benchmarks, enrollment, and benefit generosity under the Benefits Improvement and Protection Act (BIPA) and the Affordable Care Act (ACA), which potentially contributed to inaccurate forecasts of the ACA’s impact. A potential reason for the difference between projected and actual outcomes is that regulatory rulemaking shaped actual payment amounts in unexpected ways. For example, although the ACA lowered MA benchmarks, total payments increased because of simultaneous growth in risk adjustment payments, complicating efforts to measure the economic incidence of the ACA (that is, which parties ultimately benefited from or bore the burden of payment changes). Our project examines the extent to which local-level, rule-based changes in payments affected who benefited or bore the burden of the ACA payment changes, compared with changes to plans and beneficiary behavior.

    Initial descriptive statistics suggest that BIPA’s payment floors functioned as a progressive subsidy that primarily benefited rural, low-spending counties, whereas the ACA payment cuts were proportional to spending and concentrated in high-spending urban areas. That geographic pattern suggests that local market conditions—such as insurer competition, beneficiary health profiles, and physician practices—may significantly shape the incidence of payment reforms. Our descriptive findings so far highlight the need to further investigate how local market characteristics interact with the Centers for Medicare & Medicaid Services’s (CMS’s) rulemaking around plan finances to determine which parties benefit from or bear the burden of payment changes. As a next step, we intend to decompose the variation in plan payments, premiums, and benefits into components explained by observable factors (such as benchmarks, risk scores, quality bonuses, and rule-based elements in the CMS bidding tool) and unobservable factors (such as behavioral responses) to better understand the economic incidence of the ACA.

    Substitution Between Medicare Advantage and Medigap

    Presenter
    Daria Pelech

    Session
    Enrollment Decision-Making in Medicare Advantage

    Authors
    Daria Pelech (CBO) and Margaret Kallus (UC Berkeley Economics)

    Abstract
    Though Medicare fee-for-service (FFS) covers many benefits, the program’s cost-sharing structure can expose beneficiaries to substantial financial risk. To protect against that risk, most beneficiaries obtain additional coverage. Historically, many beneficiaries have purchased supplemental Medigap policies—private insurance plans that “wrap around” Medicare FFS and cover Medicare FFS deductibles, copayments, and coinsurances. Increasingly, however, Medicare beneficiaries have enrolled in Medicare Advantage (MA) plans, in which a private insurer covers enrollees’ Medicare benefits and often restructures their cost-sharing to reduce enrollees’ financial risk. As of 2024, just over half of all Medicare beneficiaries were enrolled in MA, up from less than a third a decade earlier. Because Medigap and MA fill some of the same financial needs for many beneficiaries—defraying the cost of the traditional Medicare benefit—the premiums and availability of Medigap policies likely influence beneficiaries’ choices between Medicare FFS and MA. In the past decade, Medigap premiums have grown with inflation while MA premiums have largely stayed flat. The diverging affordability between those options might explain some of the increase in MA enrollment over the past 20 years.

    This paper combines detailed data on Medigap premiums and Medicare enrollment to estimate the effect of Medigap premiums on MA enrollment. Specifically, we estimate how variation in Medigap premiums affects the probability that beneficiaries who are newly enrolling in Medicare choose MA. We also estimate the probability that MA enrollees leave their plans following a health shock or an increase in MA premiums. Using brokerage data on Medigap premiums, we estimate the average and minimum premiums each individual might face on the basis of their age, gender, zip code, and eligibility for an open-enrollment period. We combine that with a 10-year panel of individual Medicare enrollment data identifying beneficiaries who are new to Medicare or who disenroll from their MA plans. For enrollees who are new to Medicare, we estimate their probability of enrolling in MA on the basis of Medigap premiums and characteristics of the MA market in their area. For individuals who are enrolled in MA, we match Medicare enrollment data to external data from the Centers for Medicare & Medicaid Services using MA plan identifiers to identify which plans have experienced changes in premiums or benefits (which might induce a beneficiary to shop for a new plan) and which plans have been canceled (which requires a beneficiary to select a new plan). We also use individual-level beneficiary risk scores to identify beneficiaries who experience large health shocks, to compare their probability of leaving MA with that of other beneficiaries.

    The results of this study will help us better understand Medigap’s role in the increase in MA enrollment, which in turn will help improve future projections of MA enrollment growth. The results will also inform estimates of policies that might change Medigap or MA availability—such as guaranteed open-enrollment periods for those who leave their MA plans or changes in payments to MA plans.

    Chapin White is CBO’s Director of Health Analysis.

    MIL OSI USA News

  • MIL-OSI: Anchor Unlocks Industry-First Auto-Billing for Any Time Tracking Software

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, June 23, 2025 (GLOBE NEWSWIRE) — Anchor, the free-to-use autonomous billing and collection platform for accounting and professional-service businesses, today introduced a first-to-market deep integration to QuickBooks Online (QBO) that turns tracked hours from any time-tracking tool connected to QBO into payments, pre-approved by the client.

    When used with Anchor’s Pre-approved hourly services, every hourly engagement carries a cap the client has already approved. In one click, time entries from QuickBooks Time, Big Time, Toggl, Harvest, or any other tracker that syncs with QBO flow into a matching invoice in Anchor, where they can be reviewed and adjusted before the invoice is issued and the payment is processed automatically.

    “Our customers wanted a faster path from time tracking to payment, and this industry-first release delivers it,” said Rom Lakritz, Co-founder and CEO of Anchor. “No other solution offers this capability within one unified billing hub, giving accountants unmatched speed and certainty for their cash flow in the most simple and automatic way.”

    Key benefits

    Automatic sync – Instantly pulls every billable entry from any time tracker connected through QBO Time Activities straight into the correct invoice in Anchor.

    Works with any tracker – if it syncs to QBO, it syncs to Anchor; support for non-QBO trackers is coming soon.

    One-click billing – Tracked time from any QBO-synced tracker is checked against the pre-approved hourly cap, appears on the invoice with its notes, duration, and service name, can be edited in Anchor for last-minute tweaks, then is sent and paid in seconds with no back-and-forth.

    Zero manual entry – Streamlines billable hours directly into invoices, eliminating copy-paste workflows and spreadsheet rework while cutting time spent and error risk.

    Map once, bill forever – Anchor links each client and service to its QBO counterpart so every hour lands in the right place.

    Data integrity maintained – Edits in Anchor never touch the original record in QBO, and invoiced entries are auto-marked as converted to prevent double billing. Each QBO entry keeps its notes, duration, and service name.

    “Firms can keep tracking time in whatever tool they love, open Anchor, and watch the invoice write itself,” added Tal Ben Bassat, COO of Anchor. “Firms no longer need to juggle spreadsheets or copy-paste timesheets, it’s true hands-free billing, from proposal to payment, with zero extra clicks. This launch is part of a much larger effort to let them get paid in any way they can imagine.”

    Availability and pricing

    The new feature is live for all Anchor customers today, joining the Pre-approved Hourly Cap and hundreds of other features. Anchor remains free to use, with no subscription or credit card fees, and the same flat $5 fee per transaction we’ve maintained for the past four years. Users can activate the integration in seconds under Integration Settings.

    Ready to get paid faster – no matter how you track time? Sign up at www.sayanchor.com to start billing automatically. Follow Anchor on Facebook or LinkedIn for product updates.

    QuickBooks, QuickBooks Online, and QuickBooks Time are registered trademarks of Intuit Inc. Any other brand names or product names are for identification purposes only and may be trademarks of their respective holders.

    About Anchor

    Anchor is reinventing financial workflows for accounting and professional service businesses by simplifying proposals, agreements, invoicing, and payments. By replacing rigid document-based workflows with interactive agreements, Anchor helps firms eliminate revenue loss, improve cash flow, and grow profits. Trusted by thousands of firms, Anchor collects its five-dollar flat fee only when customers are paid. Learn more at www.sayanchor.com.

    Media Contact
    Company Name: Anchor
    Contact Person: Elad Shmilovich
    Email: elad.sh@sayanchor.com
    Country: United States
    Website: https://www.sayanchor.com

    The MIL Network

  • MIL-OSI Banking: AI at Work: Harvard’s Karim Lakhani on how AI is shifting from tool to ‘teammate’

    Source: Microsoft

    Headline: AI at Work: Harvard’s Karim Lakhani on how AI is shifting from tool to ‘teammate’

    Harvard Business School Professor Karim Lakhani doesn’t just have theories about AI transforming work—he studies how it’s actually happening.  

    In a groundbreaking paper called “The Cybernetic Teammate,” he and his co-authors showed how individuals working with AI can be as effective as entire teams working without it. He is also rapidly evolving Harvard’s MBA program for the age of AI, which includes the launch of a new required course called Data Science and AI for Leaders. 

    When I hosted Karim for a conversation at the Microsoft 365 Community Conference last month in Las Vegas, he raised a provocative question: will AI drive the marginal cost of expertise down toward zero? As AI democratizes access to specialized knowledge across domains, it follows that expertise will shift from being rare and costly to abundant and accessible. “This will dramatically impact the nature of our organizations and strategy,” he told me, “because what are companies but bundles of expertise? And all of us invest to become deep experts in a domain.”  

    Here’s our conversation about organizations and leadership in the AI era (edited and condensed for clarity). 

    It’s a pleasure to talk with one of my friends about where AI is going and what it means for leaders. Karim, I want to start with that “Cybernetic Teammate” study, done with Procter & Gamble. Could you give us the backstory?  

    KARIM LAKHANI: The institute I run at Harvard, the Digital Data Design Institute, is looking at generative AI like a new “drug” in the economy. We don’t know its efficacy, the right doses, the side effects, or the right diet to follow while using it. We don’t know how actual work will transform with the introduction of this technology, so we run the equivalent of “clinical trials”—randomized controlled trials. 

    Victor Aguilar, head of research and development for Procter & Gamble, wanted to understand how generative AI could radically transform the innovation process at P&G. In innovation, there’s often this interaction between R&D and commercial people: R&D comes up with the technical ideas, but the commercial team asks, “is there a market for this or not?” The best practice is to have them collaborate in a team.  

    We designed this study of 758 professionals as what we call a two-by-two design: We had commercial and marketing folks work on challenges given by their business leaders—one group working without AI and one with AI. We also tested individuals under the same conditions. Then we randomized who was in which treatment and had them solve their problems with those tools.  

    Let’s talk about the results. This is the study that showed an individual equipped with AI could perform at least as well as—and sometimes outperform—entire teams of people without AI. It’s a landmark finding. Can you tell us about that? 

    LAKHANI: What does a teammate provide? They provide you with functional expertise, help you with coordination, and give you a sense of camaraderie. We measured these three elements remotely using Microsoft Teams as the platform.  

    The first finding was that when you look at pure performance, the quality of the ideas being created, individuals with AI were as good as a team without AI—and often as good as a team with AI. That was remarkable from our perspective. 

    The other interesting thing we saw was that individuals without AI tended to veer toward their functional expertise: marketing people gave marketing-based solutions, R&D people offered R&D-based solutions. But individuals with AI produced balanced solutions—comparable to the balanced solutions we saw from teams. That was a big moment for us. 

    Were there any other surprises in how people used AI, reframed their work, or wanted to use it going forward? 

    LAKHANI: We had done various studies before showing the productivity effects of AI, in terms of both quality and time. The time compression was actually quite remarkable. Teams normally experience a time penalty [because coordination takes time]. But with AI, that time penalty disappeared.  
     
    That was a big surprise. Another surprise was how people felt while using AI. They reported more positive emotions and fewer negative ones as they were doing the work. 

    The big aha for us was that AI shifted from being a tool to a teammate. This is unprecedented. We now have intelligence and expertise on tap. 

    I imagine what’s on people’s minds is, “I get it. I understand where the technology is…but what does this mean for me? What do I do as a leader?” What advice might you have for the group? 

    LAKHANI: Do you remember debates about whether we should have Wi-Fi in our offices? I’m sure some of you participated in them. The question maybe went up to your boards. Or remember the question, “Should employees have browsers? Access to global information?”  

    Those things didn’t fundamentally change the nature of work. But intelligence on demand, expertise on demand—these technologies are about work itself. You need to drive as much organizational transformation as technical transformation. We often say it’s 30% tech, 70% organization. Staple yourselves to your HR teams. Or have Copilot teach you the things about HR that you should know. It creates great tutorials, as you know. That’s the first thing. 

    Second: People are worried—really worried—about these technologies. That’s part of the conversation you need to have. How do we have an abundance mindset around this? What are the capability unlocks? Again, these are things that technology leaders have not typically been asked about. But you need to own it and engage in a conversation with your leaders and teammates about it. 

    Third: This type of change has to come from the top. I came up in the era of Wired magazine and Fast Company in the 1990s, when the internet came to workplaces. Fast Company was all about change agents. But change agents get massacred in most corporations. Why? Because if there’s no top-down buy-in, the change agents die on the vine. The key for us here is to make sure our top leaders understand this and see AI as a work and business technology, not as an information technology. Leaders in companies need to “do AI” (use Copilot as a thought partner all the time, build their own agents) as much as they “talk AI.” 

    Is there any last concept or idea that you feel has been left unsaid? 

    LAKHANI: Well, if I was good at predicting the future, I would be in the stock market, not academia. I tend to be very much an empiricist: I’ll come in with a discovery mindset, we’ll run the experiment, and then we’ll get the facts. But I’d love to offer a framing around this intelligence view.  

    I decided to become an academic in the 1990s when I discovered open-source software. We’re at the same juncture now. This stuff works in practice, but our management theories or economic theories don’t know how to handle this kind of technology. 

    Think back to the ‘90s again, when the browser became available. What did the browser and the internet really do? Essentially, they lowered the marginal cost of information transmission. If you go on a Teams call today with a global or national team, you don’t think twice about all the videos that are coming in. Thirty years ago, every one of us would have needed a camera operator, a sound operator, a satellite truck uplink, and a downlink. This would be prohibitively expensive. But today, the marginal cost of information transmission has gone down to zero, and we can seamlessly connect with anyone or any device globally. 

    In this moment, we’re predicting the same thing for expertise: the marginal cost of expertise is going to zero. 

    The clinical trials with our collaborative partners (Boston Consulting Group and P&G) are pointing in this direction, and this will dramatically impact the nature of our organizations and strategies. Because what are companies but bundles of expertise? We have finance, marketing, sales, R&D, and brand. You have all this expertise. As that cost of expertise drops, what a company does—what all of our roles are—is all up for invention and reinvention. 

    The direction of this change is up to all of us. We can’t just be the receivers of it; we have to understand what’s happening and then set the direction for ourselves and our companies. 

    Listen to Karim Lakhani’s recent appearance on the WorkLab podcast. For more insights about AI and the future of work, subscribe to this newsletter

    MIL OSI Global Banks

  • MIL-OSI Canada: Joint Statement: Enduring Partnership, Ambitious Agenda

    Source: Government of Canada – Prime Minister

    1. Today marks a historic milestone as we, the leaders of the European Union and Canada, met to renew our enduring commitment and take a pivotal step to further reinforce the strategic partnership between the European Union and Canada. Our strong partnership is deeply rooted in trust and common values and shaped by a shared history of human connection and robust economic ties. Most importantly, our partnership is grounded in the core values we share: democracy, human rights, the rule of law, and open, rules-based markets. In a rapidly changing world marked by geopolitical uncertainty, shifting economic dynamics, and the accelerating impacts of climate change, this partnership is more important than ever.
       
    2. We stand united in our objective to forge a new ambitious and comprehensive partnership that responds to the needs of today and will evolve to meet the challenges and opportunities of the future. This marks the beginning of a long-term effort that will help us promote shared prosperity, democratic values, peace and security. To do this, we have decided to further build on existing ties and launch a process that will move Canada and the EU closer together and that lays out immediate and long-term actions outlined in an ambitious agenda at the end of this document. We also agreed today on an EU-Canada Security and Defence Partnership.
       
    3. Our citizens are looking for responses to the unprecedented challenges we face. This is why it is more important than ever to work together to promote our shared values and the rules-based international order. We will also pursue our common interests, while continuing to promote and deepen our vibrant trade and investment relationship, and our strong people-to-people contacts. We will stand together even more firmly in support of peace, stability, and prosperity in the world, including in Ukraine, the Middle East and the Indo-Pacific.
       
    4. We confirm our unwavering commitment to the rules-based international order with the United Nations and its charter at its core. The EU and Canada will continue to cooperate closely in promoting international peace and security. Our commitment to sustainable development remains a key pillar of our relationship. We will continue to be key partners in promoting democracy, human rights and fundamental freedoms, gender equality and the rule of law globally. We will take further action to ensure respect for the rights of women and girls, and to end to all forms of discrimination, including against LGBTI persons. We will continue supporting the implementation of the UN Pact for the Future and the ambitious reforms sought under the UN80 Initiative. We reaffirm our steadfast support for the independent functioning of the international criminal justice system, particularly the International Criminal Court. We condemn threats to the independent functioning of the ICC, including measures against individual officials.
       
    5. We are determined to continue working together in responding to the growing challenges to the international economic and trade order. We reiterate our mutual commitment to sustainable, fair and open trade, grounded in the rule of law and in respect for internationally agreed trade rules, as embodied by the World Trade Organization. This is essential to maintain global economic stability and to safeguard our supply chain resilience.
       
    6. We reaffirm our resolute condemnation of Russia’s war of aggression against Ukraine, which constitutes a manifest violation of the UN Charter and international law. Our commitment to ensuring a comprehensive, just and lasting peace in Ukraine that respects Ukraine’s sovereignty and territorial integrity within its internationally recognized borders is unshakeable. We reaffirm our unwavering commitment to providing continued political, financial, economic, humanitarian, military and diplomatic support to Ukraine and its people for as long as it takes and as intensely as needed, in full respect of the security and defence policy of certain EU Member States and taking into account the security and defence interests of all EU Member States. We support the conclusion of a just and lasting peace agreement, in full compliance with the principles of the UN Charter and international law, and join the call for a full, unconditional ceasefire of at least 30 days, which Ukraine has unilaterally committed to. We will continue to support the International Coalition for the Return of Ukrainian Children co-chaired by Ukraine and Canada, and we reiterate our urgent call on Russia and Belarus to immediately ensure the safe return of all unlawfully deported and transferred Ukrainian children. We will continue our close coordination of efforts to provide military equipment and training to the Ukrainian Armed Forces —including through the work of the EU Military Assistance Mission (EUMAM Ukraine) and Operation UNIFIER.
       
    7. We will increase pressure on Russia, including through further sanctions and taking measures to prevent their circumvention, and by ensuring that Russian sovereign assets remain immobilized until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused by this war. We are committed to ensuring full accountability for war crimes and other serious crimes committed in connection with Russia’s war of aggression, including by the establishment of a Special Tribunal for the Crime of Aggression against Ukraine. We also remain committed to supporting Ukraine’s repair, recovery and reconstruction including through the Ukraine Donor Platform and in-country coordination mechanisms. We welcome Canada’s continued support, through the extension of an expert deployment to the Ukraine Donor Platform. The Ukraine Recovery Conference in Rome in July 2025 will be particularly relevant in that context.[1]
       
    8. We also reaffirm our continued support for the Republic of Moldova’s sovereignty and territorial integrity, enhancing the country’s resilience in dealing with the consequences of Russia’s war of aggression against Ukraine and the hybrid activities by Russia to undermine Moldova, in particular in the run-up to the Parliamentary elections. 
       
    9. In relation to the situation and latest developments in the Middle East, we reaffirm our commitment to an immediate and permanent ceasefire in Gaza, the release of all hostages, and the resumption of unimpeded humanitarian aid at scale into Gaza in line with humanitarian principles, in order to address the catastrophic humanitarian situation on the ground. We reiterate our strong condemnation of the escalation in the West Bank, including East Jerusalem, following increased settler violence, the expansion of settlements, which are illegal under international law, and Israel’s military operation. We emphasize the importance of pursuing a lasting and sustainable peace based on the implementation of the two-state solution. We see no role for Hamas in the future governance of Gaza. 
       
    10. We express our deepest concern at the dangerous escalation following Israeli strikes on Iran, and Iran’s response. We reiterate our strong commitment to peace and stability in the Middle East, including the security of Israel, and call on all sides to show restraint and abide by international law. We have been consistently clear that Iran can never have a nuclear weapon. A diplomatic solution remains the best way to address concerns over Iran’s nuclear program. The EU and Canada stand ready to contribute to a negotiated deal, which imposes verifiable constraints on Iran’s nuclear program, with the International Atomic Energy Agency in charge of monitoring and verification. We also remain committed to addressing Iran’s destabilizing behaviour, including its nuclear proliferation risks, military support for Russia’s war of aggression in Ukraine, backing of regional armed groups, transnational repression, and systematic human rights violations.
       
    11. Security in the Euro-Atlantic and Indo-Pacific regions is increasingly interconnected. We reaffirm our shared interest in maintaining peace and stability in the Indo-Pacific, including in the East and South China Seas and across the Taiwan Strait. We will continue working with regional partners, including ASEAN, to uphold a free, open and secure Indo-Pacific region based on international law. We continue to be deeply concerned by DPRK’s ongoing nuclear weapons and ballistic missile programs and condemn Russia-DPRK military cooperation, which violates UN Security Council resolutions and undermines international security.
       
    12. We will continue deepening our cooperation and dialogue, together with partners from around the world, to address key regional issues, in particular in relation to the broader Middle East – notably Lebanon and Syria. We will also continue engaging with each other on issues related to Africa, and Latin America and the Caribbean, including Haiti. We will stay engaged in fragile and conflict-affected countries, facing instability or in complex settings, to support populations, in particular the most vulnerable.
       
    13. The Arctic will remain an area of close collaboration to foster peace and security, stability, and sustainable economic development, in particular of the blue economy, in full respect of the interests, priorities and rights of Indigenous Peoples in line with the United Nations Declaration on the Rights of Indigenous Peoples.
       
    14. The EU and Canada will continue to be reliable and responsible partners. We reiterate our steadfast commitment to advancing global sustainable development, working with partners across the globe. We are determined to deliver on the 2030 Agenda and its Sustainable Development Goals, together with international partners and in multilateral fora. We look forward to the upcoming 4th International Conference on financing for Development (FfD4), which will take place in Seville from 30 June to 3 July 2025. We will continue to deepen our cooperation and dialogue on humanitarian aid, including on respect for International Humanitarian Law and response to humanitarian crises.
       
    15. We recognize the existential threat of the interdependent crises of climate change, biodiversity loss, land degradation and pollution. The EU-Canada Green Alliance is our steadfast, joint commitment to ambitious environment and climate action on the global stage. Carbon pricing, carbon removal and industrial decarbonization are key to reaching net-zero and decarbonization goals, while a high integrity carbon market can contribute to enhancing the global ambition. The EU is a dedicated participant in Canada’s Global Carbon Pricing Challenge (GCPC). At COP30, the EU and Canada aim to further promote carbon pricing as a tool to combat climate change, foster innovation and to modernize our industries. COP30 will also be an opportunity to highlight the importance of decarbonizing the transport sector and to promote sustainable transportation solutions. We reiterate our commitment to the swift and full implementation of the goals and targets of the Kunming-Montreal Global Biodiversity Framework, including through the Nature Champions Network.
       
    16. We agree that the Strategic Partnership Agreement (SPA) and the Canada-EU Comprehensive Economic and Trade Agreement (CETA) are at the core of the EU-Canada relationship. Through these agreements we are developing and deepening our partnership continuously in response to an evolving global context. We will continue to ensure their effective implementation and remain committed to achieving their full ratification. The SPA and CETA have allowed us to boost our cooperation over the past eight years.
       
    17. We are committed to further enhancing our EU-Canada trade and investment relationship, to advance and diversify our trade, promote our economic security and resilience, create investment opportunities and ensure our long-term security and prosperity. Our relationship is underpinned by CETA and its benefits are clear: bilateral trade has increased by over 65% compared to pre-CETA levels. We welcome the efforts being made to remove barriers to interprovincial trade in Canada and reduce barriers within the EU Single Market as they will further ease trading and doing business for our companies.
       
    18. Ensuring reliable and sustainable supply chains is a mutual priority and we have a shared interest in diversifying our supply chains and strategic investment. We will foster a closer cooperation on targeted industrial matters driving global competitiveness and strategic autonomy, such as artificial intelligence, quantum technologies, space, cyberspace, aeronautics, biotechnologies, new energies, minerals and critical metals, advanced manufacturing and cleantech. We intend to maintain a secure transatlantic supply chain on key technologies such as artificial intelligence (AI), supercomputers and semiconductors. We welcome the recent announcement of a Canadian strategic nickel project under the EU Critical Raw Materials Act and will work to identify opportunities for co-investment in projects of mutual interest. We welcome the G7 Global Critical Minerals Action Plan agreed under Canada’s Presidency.
       
    19. We also remain committed to pursuing mutually beneficial collaboration on digital and tech policy issues and bolstering the bilateral digital trade relationship. Through the Canada-EU Digital Partnership, we are already working hand in hand on concrete projects in crucial areas for a robust digital economy, such as research in cutting-edge technologies, and we look forward to Canada hosting the first EU-Canada Digital Partnership Council later this year. We intend to enhance cooperation on AI innovation, including collaboration on AI Factories, to link our high-performance computing infrastructure and to deepen research cooperation in strategic technology areas such as AI and quantum. We also intend to align our frameworks and standards in the regulatory field, to make online platforms safer and more inclusive, to develop trustworthy AI systems and to establish interoperable digital identities and digital credentials to facilitate interactions between our citizens and our businesses.
       
    20. We have agreed today an EU-Canada Security and Defence Partnership, which provides a coherent, high-level political framework for our joint efforts in this field and will strengthen and widen the scope of cooperation and dialogue between the EU and Canada. We remain committed to continuing our strong cooperation, notably through Canada’s contributions to EU missions and operations, and welcome possible further collaboration on crisis management in the future. Canada will strengthen its defence relationship with the EU by posting a defence representative to the EU. We underscore the value of Canada’s participation in the EU’s Permanent Structured Cooperation (PESCO) projects and look forward to pursuing additional initiatives within this framework. In line with our shared security interests, we attach particular importance to collaboration on defence. For Canada and those EU Member States who are NATO Allies, NATO remains the cornerstone of their collective defence. Our aim will be to help deliver on our capability targets, including through our defence industries, more quickly and economically and with enhanced interoperability in ways that deliver mutual benefit and reinforce the European contribution to NATO. All of the above is without prejudice to the specific character of the security and defence policy of certain EU Member States, and taking into account the security and defence interests of all Member States, in accordance with the EU Treaties. We appreciate Canada’s continued commitment to European security, which includes the largest deployment of Canadian Armed Forces overseas.
       
    21. Recognizing the importance of the Women, Peace and Security as well as the Youth, Peace and Security agendas, we will continue supporting the full, equal and meaningful participation of women and youth in conflict prevention, mediation, resolution, peacekeeping, peacebuilding, and post-conflict reconstruction. We recognize that an enabling environment, is fundamental to ensuring the safe participation of women, and remain committed to fostering such environments. We will ensure that Women, Peace and Security is integrated in all aspects of cooperation on security and defence. Gender equality is a shared political and security priority, and we will collaborate to counter setbacks against gender equality and the rights of women and girls.
       
    22. To ensure comprehensive and sustainable progress, Canada and EU senior officials will meet at regular intervals to review progress and identify opportunities to deepen cooperation, in line with existing CETA and SPA consultation mechanisms, and in view of the next EU-Canada Summit. 

    Annex – The New EU-Canada Strategic Partnership of the Future 

    Together, we will: 

    Increase trade flows and promote economic security 

    • Support businesses to grow and diversify markets by fully and effectively implementing CETA.
    • Modernize our approach to trade by launching work towards a Digital Trade Agreement that would complement CETA.
    • Create tools for businesses to better support trade diversification, such as facilitating B2B matchmaking, cluster-to-cluster cooperation, and supporting the internationalization of small and medium-sized enterprises (SMEs).
    • Advance our collaboration in the EU-Canada Economic Security Dialogue. Political and technical exchanges will allow us to identify trends and risks of mutual concern that could affect our economic security, and cooperation on possible policy responses.
    • Reduce barriers and strengthen agriculture and agrifood trade.
    • Prepare ourselves for the energy needs of the future, by cooperating more closely and exploring options to work together on more resilient, diversified, reliable energy supply chains, including clean tech value chains, LNG, renewables, safe and sustainable low-carbon hydrogen and other safe and sustainable low-carbon technologies, in view of increasing bilateral trade and strengthening energy security.
    • Continue the existing cooperation on nuclear technologies, including fuels and fuel cycle services, through the negotiation of a modernized and comprehensive Canada-Euratom Nuclear Cooperation Agreement.
    • Strengthen labour mobility by facilitating the movement of highly skilled workers, and explore shared interests in exchanging information about immigration partnerships. 

    Foster competitiveness and resilience through strengthened cooperation in strategic value chains 

    • Launch a new EU-Canada Industrial Policy Dialogue to boost industrial and supply chain cooperation in strategic sectors.
    • Promote projects and investments that reduce supply chain risks and foster resilience and the competitiveness of our industries and critical goods (e.g. semiconductors), including by promoting projects that abide by environmental, social and governance standards.
    • Work together closely to ensure security and diversity in the supply of minerals and metals critical to our mutual security and the green and digital transitions, including by exploring new opportunities to facilitate the two-way flow of investment, materials and expertise through the EU-Canada Strategic Partnership on Raw Materials.
    • Complete the negotiations for a renewed Canada-EU Competition Cooperation Agreement, providing a legal framework to coordinate enforcement activities and share information obtained through investigative powers in full respect of data privacy guarantees in both jurisdictions, as soon as possible. 

    Deepen regulatory alignment 

    • Identify opportunities for increased regulatory alignment between Canada and the EU, including through advancing work under CETA’s Protocol on the Mutual Acceptance of the Results of Conformity Assessment.
    • Bolster formal consultative mechanisms on EU and Canadian legislation and regulations, including CETA’s Regulatory Cooperation Forum. 

    Increase transatlantic security through a new era of EU-Canada security and defence cooperation, including the full implementation of the EU-Canada Security and Defence Partnership 

    • Bolster our bilateral dialogue and operational cooperation in all areas of joint interest in support of peace, security and defence – such as maritime security, cyber issues and hybrid threats.
    • Advance cooperation on the climate-security nexus and expand joint efforts in maritime security by identifying opportunities for coordinated naval activities.
    • Expand cooperation on defence capabilities, in particular by creating opportunities for increased defence industrial cooperation.
    • Secure and protect our democratic institutions by preventing and countering foreign information manipulation and interference (FIMI) through increased cooperation through relevant EU, Canadian and multilateral initiatives, such as the Canada-hosted G7 Rapid Response Mechanism.
    • Consider Canada’s further participation in EU Permanent Structured Cooperation (PESCO) projects, with an aim towards joint development of capabilities and greater interoperability.
    • Increase defence procurement cooperation through Canadian collaboration with ReArm Europe/Readiness 2030:
      • launch work towards a bilateral agreement related to the Security Action for Europe (SAFE) instrument
      • explore the possibility of establishing an administrative arrangement between Canada and the European Defence Agency 

    Shape the digital transition and promote exchanges in education and on innovation for technologies of the future 

    • Deepen cooperation in the framework of the EU-Canada Digital Partnership, and hold the first EU-Canada Digital Partnership Council later this year to drive this process forward.
    • Advance cooperation on AI, cybersecurity, secure digital communication and advanced connectivity, secure and trusted communications infrastructure (including 5G and subsea cables), the transparency and resilience of global tech supply chains, digital identity, quantum science, data spaces, online platforms and fighting FIMI.
    • Advance regulatory cooperation under the Digital Partnership, notably in AI and cybersecurity, so as to work towards the mutual recognition of AI and cybersecurity product certification including under the CETA Protocol on Conformity Assessment.
    • Deepen collaboration by leveraging Canada’s association to Horizon Europe, including on high priority topics, and exploring its potential participation in EU’s 10th Framework Programme.
    • Expand cooperation for access to world-class high-performance computing infrastructure through Horizon Europe.
    • Support research and industrial collaboration in research security, artificial intelligence, semiconductors, quantum sciences, cyber security, climate change, oceans, circular economy, polar research and researcher mobility and training, including through the Canada-EU Digital Partnership and under the EU-Canada Science and Technology Cooperation Agreement.
    • Promote and defend the freedom of academic and scientific research and the protection of scientists.
    • Increase people to people ties, improve mobility and recognition, including in higher education and research through Erasmus+, the European Research Council and the Marie Skłodowska-Curie actions. 

    Fight climate change and environmental degradation and facilitate the transition to climate neutrality 

    • Support for carbon pricing and industrial decarbonization as priority cooperation areas to combat climate change.
    • Bolster competitiveness through cooperation on carbon pricing systems and carbon border measures.
    • Work with international partners to promote the full, swift and effective implementation of the goals and targets of the Kunming-Montreal Global Biodiversity Framework.
    • Collaborate to achieve an internationally legally binding instrument on plastic pollution covering the full lifecycle of plastics at INC 5.2.
    • Collaborate on the implementation of the Just Energy Transition Partnerships.
    • Jointly call for ambitious action to implement the Paris Agreement, in line with efforts to keep the 1.5°C warming goal within reach.
    • Continue working with other international partners to promote relevant international instruments to combatting climate change, biodiversity loss, and pollution.
    • Welcome Canada joining the Global Energy Transition Forum launched by the European Commission to deliver on the goals of tripling the world’s renewable energy capacity and doubling the global annual rate of energy efficiency improvement by 2030 in parallel to a transition away from fossil fuels in energy systems.
    • Work together as co-conveners of the Global Methane Pledge to deliver on the goal of reducing global methane emissions by at least 30% from 2020 levels by 2030.
    • Advance cooperation on the climate–security nexus by exploring a Climate-Security Dialogue. 

    Crisis management 

    • Advance public and private investments, notably in sustainable, inclusive, resilient and quality infrastructure, including through our shared G7 commitment under the Partnership for Global Infrastructure Investment and the EU’s Global Gateway strategy. At the same time, we recognize that investments in human development are a key enabling factor for just and sustainable digital and green transitions.
    • Strengthen cooperation on international crisis response and enhance cooperation on emergency management with the signing of an Administrative Arrangement between the Department of Foreign Affairs, Trade and Development of Canada and the European External Action Service on international cooperation in emergency planning and crisis response.
    • Respond more effectively to humanitarian crises and explore the possibility of a humanitarian administrative arrangement to align priorities and facilitate coordination.
    • Build health security and resilience through enhanced partnerships, including an administrative arrangement on medical countermeasures.
    • Building on the sale of 22 Canadian-built DHC-515 water bombers to the EU and Member States, explore further opportunities to share mutually beneficial technology and expertise in combating disasters. 

    Justice and Home Affairs 

    • Explore cooperation between Eurojust, the European Public Prosecutor’s Office and the Canadian authorities in the field of criminal justice.
    • Advance the implementation, ratification and entry into force of the-EU-Canada Passenger Name Record Agreement.

    [1]We note the reservations of one Member State regarding the strategic direction of certain EU policies towards Ukraine.

    MIL OSI Canada News

  • MIL-OSI: Pocket Knife Software Launches ANNIE AI Trading Platform to Public After Years of Private Development

    Source: GlobeNewswire (MIL-OSI)

    Austin, TX , June 23, 2025 (GLOBE NEWSWIRE) — Pocket Knife Software, Inc. has announced the public launch of ANNIE, its proprietary AI-powered stock trading platform, after nearly a decade of private development and real-world testing. The system, originally built for personal use, is now available to independent investors via subscription at AI-StockTrading.com.

    Rick Cockerham, Founder of Pocket Knife Software

    Unlike traditional predictive models, ANNIE employs a hybrid of neural networks and genetic algorithms to evolve trading strategies based solely on real-world performance, leveraging real-world trading data since April 2024. The AI reviews over 1,200 U.S. equities daily and generates trade recommendations designed for consistency rather than speculation. Recent iterations of ANNIE have demonstrated performance levels approximately twice as strong as earlier versions, according to Pocket Knife Software’s internal data.

    “ANNIE isn’t trying to guess where the market is going tomorrow,” said Rick Cockerham, creator of ANNIE and founder of Pocket Knife Software. “It’s designed to make sound trading decisions based on what works, using evolved strategies that continuously adapt to changing market conditions”.

    And when ANNIE gives out recommendations, they’re exactly that. Because ANNIE delivers trade ideas – not automated trades – users stay in control of their money, their account, and their decisions.

    Originally conceived while Cockerham was studying AI at Iowa State University in the 1990s, ANNIE has undergone years of iteration. These iterations led him to make ANNIE available to other independent investors seeking an alternative to traditional financial services.

    The subscription service delivers daily buy and sell signals through email or text message approximately one hour before market close. Subscribers maintain full control over their investment accounts, allowing them to manually execute trades based on ANNIE’s recommendations. The platform also includes portfolio tracking and risk management signals such as stop-loss alerts.

    “Most AI stock pickers rely on predictive models that can’t consistently outperform the market,” said Rick. “ANNIE is different because it evolves – discarding what doesn’t work and refining what does through live market results. That evolutionary engine is what sets ANNIE apart”.

    ANNIE’s public release comes at a time when individual investors face mounting challenges competing against institutional capital and increasingly complex markets. Cockerham emphasizes that the platform is designed for serious, self-directed investors seeking a transparent and disciplined system that complements their own trading decisions.

    About Pocket Knife Software

    Founded by Rick Cockerham, Pocket Knife Software develops AI-powered financial tools for independent investors. The company’s flagship product, ANNIE, combines neural networks and genetic algorithms to evolve trading strategies based on real-world market performance. Operating from Austin, Texas, Pocket Knife Software is committed to making hedge-fund-grade technology accessible to self-directed investors. Learn more at AI-StockTrading.com.

    Press inquiries

    Pocket Knife Software
    https://www.ai-stocktrading.com/
    Rick Cockerham
    rick@pocketknifesoftware.com

    The MIL Network

  • MIL-OSI USA: Cortez Masto, Fetterman Introduce Bipartisan Legislation Making Tax Filing Easier for Survivors of Domestic Abuse

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    Washington, D.C. – U.S. Senators Catherine Cortez Masto (D-Nev.), John Fetterman (D-Pa.),John Cornyn (R-Texas), and Joni Ernst (R-Iowa) introduced the Survivors Assistance for Fear-free and Easy (SAFE) Tax Filing Act. This bipartisan bill would work to end economic coercion in abusive marriages by making it easier for survivors of spousal abuse or abandonment to file their taxes.
    “Survivors of domestic violence should not have to worry about contacting their abuser – putting themselves and their children at risk of serious physical harm – just to file their taxes,” said Senator Cortez Masto. “This commonsense, bipartisan legislation will help keep Nevada families safe and help survivors on the road to recovery.”
    The SAFE Tax Filing Act allows spousal abuse survivors to file their taxes as if they are unmarried. Currently, laws require survivors to either file their taxes jointly with their abuser or to file as Married Filing Separately, a disadvantageous status that could reduce their tax refund. This bill ends the requirement that survivors must contact their abusers to get the biggest tax refund they’re eligible for to support themselves and their families.
    “The SAFE Tax Filing Act of 2025 is more than tax reform—it’s a lifeline,” said Pamela Jacobs, JD, CEO, National Resource Center on Domestic Violence. “It recognizes that survivors of abuse deserve safety, autonomy, and freedom from financial entanglement with those who’ve harmed them. This legislation honors the reality of survivors’ lives and removes another barrier on their path to healing and independence.”
    “There is no safety without economic security. Survivors of domestic violence often face substantial tax liability as a result of their abusive partner, and the act of filing taxes can expose survivors to further risk to their physical safety,” said Erika Sussman, Founder & Executive Director, Center for Survivor Agency and Justice. “The SAFE Tax Filing Act will lift that burden by providing survivors with the chance to attend to their tax responsibilities without subjecting themselves to further economic and physical harm. We owe this to survivors.”
    The SAFE Tax Filing Act is endorsed by the National Resource Center on Domestic Violence, the National Domestic Violence Hotline, the National Network to End Domestic Violence, the Center for Survivor Agency and Justice, Futures Without Violence, and Just Solutions.
    The full bill text is available here.
    Senator Cortez Masto is an outspoken advocate for victims of domestic violence, sexual assault, and human trafficking. She was a cosponsor and vocal supporter of the reauthorization of the Violence Against Women Act to help address gender-based violence and provide services and protections for survivors. The reauthorization included Cortez Masto’s bipartisan Fairness for Rape Kit Backlog Survivors Act to require state programs to allow sexual assault victims to file for compensation without being unfairly penalized for delays due to rape kit backlogs. She helped pass the bipartisan Safer Communities Act to narrow the “dating partner” loophole and prevent convicted domestic violence abusers from purchasing and possessing firearms. 

    MIL OSI USA News