NewzIntel.com

Category: Economy

  • MIL-OSI USA: Governor Polis Unveils New Housing In Castle Rock, Celebrates Women in the Trades Who Strengthen Colorado’s Economy

    Source: US State of Colorado

    CASTLE ROCK/DENVER – Today, Governor Polis unveiled 200 new homes for hardworking Coloradans at the Meadowmark community in Castle Rock. Last year, Governor Polis signed legislation to create more transit-oriented communities, eliminate discriminatory occupancy limits, get rid of costly parking restrictions, and give Coloradans the freedom to build Accessory Dwelling Units on their property. These efforts to break down government barriers to new housing continue to help bring more homes that Coloradans can afford to communities across the state. 

    “Each grand opening of new homes proves that by removing unnecessary government barriers, the market is responding to the deep need for more housing Coloradans can afford across the state. Today we unveiled 200 new homes in Castle Rock for hardworking Coloradans and families, and I look forward to building on our progress, making more housing for Coloradans and our families,” said Governor Polis. 

    Now, building on last year’s success, Governor Polis is supporting legislation to break down barriers for modular housing, allow communities to build more single-stair buildings that will save Coloradans money on housing, support the construction of more condos that Coloradans can afford, and support schools and churches in using their lands to build more homes for Coloradans. 

    Governor Polis also attended the Emily Griffith Women in the Trades Celebration to highlight the importance of Colorado women in the trades and Colorado’s emphasis on creating pathways to opportunity for everyone that strengthen Colorado’s workforce and economy. 

    “Today’s celebration confirms that in Colorado, the trades are for everyone. We are focused on connecting Coloradans, no matter who you are, with the skills needed to get a good-paying job. Our workforce and economy are made stronger by our efforts to create new opportunities and pathways for women to join the trades,” said Governor Polis. 

    Earlier this month, Governor Polis signed bipartisan legislation to create a new Associate of Applied Science degree at Emily Griffith Technical College, creating new opportunities for students of all backgrounds to participate in apprenticeships in HVAC, plumbing, electrical work, and more. 

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    MIL OSI USA News –

  • MIL-OSI Security: IAEA Kicks Off 2025 Cooperation with G20 under South African Presidency

    Source: International Atomic Energy Agency – IAEA

    IAEA and South African G20 Presidency side event on the role of nuclear power and the clean energy transitions, in Cape Town. (Photo: B. Carpinelli/IAEA)

    For the second year in a row, the IAEA has been invited to collaborate with the G20 on work related to nuclear power. The cooperation with the G20 (Group of Twenty) resumed under the presidency of South Africa at meetings this week in Cape Town, kicking off with a side event hosted by the IAEA and South Africa on the role of nuclear energy in clean energy transitions, as one of the technology dialogues that the presidency is featuring throughout the yearlong process.

    Building on its first-ever collaboration on nuclear power with the G20 in 2024 under the presidency of Brazil, the IAEA engagement this year will include publications tailored to inform the group on topics such as the prospects for nuclear power in Africa and repurposing coal-fired plants with nuclear power such as small modular reactors (SMRs),  as well as participation in the G20 Ministerial Meeting on Energy, set for 23-26 September.

    “At a time when energy access and security of supply are issues of global concern, the role of nuclear energy in low carbon, resilient and affordable energy systems remains indispensable,” IAEA Director General Rafael Mariano Grossi said. “Continuing the work that the IAEA began under the presidency of Brazil, we are now looking forward to working with South Africa.”

    The first African country to assume the G20 presidency, South Africa is pursuing an Africa-wide approach emphasizing energy security, a just and inclusive clean energy transition and regional energy cooperation. While South Africa remains the only country on the continent to have nuclear power and aims to expand its programme, several African countries have expressed interest in or are embarking its introduction. Egypt is building four large reactors, and other countries such as Ghana and Kenya are working with the IAEA to establish the necessary infrastructure for a nuclear power programme, with a particular interest in SMRs.

    The side event opened with special remarks from Kgosientsho Ramokgopa, Minister of Electricity and Energy of South Africa. Delegates from the G20 Energy Transitions Working Group (ETWG) attended the event, which discussed the state of nuclear power in South Africa as well as the IAEA’s outlook on nuclear power and a description of the upcoming publications that the IAEA will publish as part of its G20 collaboration this year. A session on nuclear power project financing issues followed, with panellists from the IAEA, the International Energy Agency, France and South Africa discussing ways to unlock financing for nuclear power projects and pave the way for faster deployment.

    “In the wake of the world aiming to reach net zero by 2050, there has been a return to realism where it is globally accepted that nuclear technology has a huge role to play in the energy mix as a key source to ensure countries achieve their energy security, energy sovereignty, and energy justice in the transition,” said Minster Ramokgopa. “The expansion of the nuclear programme gives South Africa energy security and sovereignty that enables the country to move its economy into a digital era, engage in new research frontiers and take its rightful place amongst leading nations.” 

    Minister Kgosientsho Ramokgopa delivering his opening remarks at the nuclear energy side event hosted by the IAEA and South Africa during the G20 ETWG meetings. (Photo: B. Carpinelli/IAEA)

    During the event, delegates from G20 members and invited countries delivered remarks from the floor and offered their national perspectives.

    “Italy is working to relaunch the use of sustainable nuclear energy, in its net zero emissions path by 2050. We have created the National Platform for Sustainable Nuclear involving R&D centres and industrial capabilities and nowadays our Government is strongly committed to work on enabling a favourable legislative and regulatory framework aimed at promoting the use of safe and innovative nuclear at the national level, including small modular reactors and Generation IV advanced modular reactors,” said Alberto Pela, Head of Delegation and Senior Advisor on International activities at the Department of Energy of the Ministry of Environment and Energy Security of Italy.

    The United Arab Emirates, an invited country, recently began operating four large nuclear power reactors.

    “In the UAE, nuclear energy is more than a power source — it’s a cornerstone of our clean, safe, and sustainable energy future,” said Nawal Yousif Alhanaee, Director of the Future Energy Department at the UAE’s Ministry of Energy and Infrastructure. “With the Barakah Nuclear Energy Plant meeting up to 25 per cent of our electricity needs, we affirm our commitment to a carbon-free tomorrow powered by peaceful and reliable nuclear technology.”

    MIL Security OSI –

  • MIL-OSI Africa: Informal workers in Ghana’s chop bars get no benefit from foreign aid: donors are getting it wrong

    Source: The Conversation – Africa – By Matteo Rizzo, Senior Lecturer in Development Studies, SOAS, University of London

    Informal street food caterers, popularly known as chop bars, are a key feature of Ghanaian city life. They offer the urban poor the cheapest food.

    A 2016 survey by the Food and Agriculture Organization estimated there were about 3,300 chop bars in the capital, Accra, employing almost 4,300 workers. This figure is likely to be much higher now due to rapid urban growth in the last decade. Ghana’s urban population increased from 50.9% in 2010 to 56.7% in 2021. By the same year the Greater Accra region was home to 91.7% of the urban population in the country.

    Street food caterers in Accra face a number of problems, including insecurity of land tenure, inadequate knowledge of food hygiene, harassment from local authorities, cut-throat competition, and low returns from work.

    Foreign donors have over the years stepped in to attempt to address these problems. A flagship of this assistance has been a programme funded by Danish trade unions and the Danish Federation of Small and Medium-sized Enterprises. Under its aegis, Ghana’s Trades Union Congress was able to support workers in chop bars.

    Drawing on our expertise on trade unions in Ghana and on the informal economy, we assessed the effectiveness and strategic relevance of this aid.

    The aid focused on entrepreneurial skills and micro-credit. This overlooks some of the real problems in the sector. It leaves wage workers in a precarious position and does nothing to boost demand for what the sector supplies. We argue that to be more effective, foreign aid should address these gaps.

    Entrepreneurial pipe dreams

    Increased donor attention to workers in the informal economy and trade unions could be seen as a positive trend. After all, this is where the majority of workers in African cities are to be found. Ghana’s official statistical service places the size of the country’s informal sector between 70% and 80% of the working populace in its reports from 2024.

    However, close examination of the type of support given, and its results, yields a more sobering picture.

    Aid focused firstly on capacity building and entrepreneurship. This aimed at boosting skills such as financial literacy and capacity to care for customers. The programme’s own evaluation highlights the increased confidence that chop bar operators gained through this training. Important as this might be, increased confidence can do very little to overcome structural challenges, like intense competition in an oversupplied sector and the insecurity of land tenure.

    A second area of support was the provision of micro-credit via the Trades Union Congress (Ghana). One could argue that it boosted the creditworthiness of informal economy operators. But there is evidence, including our study, that credit can often result in a spiral of debt and “poverty finance”.

    Donors chose to focus on small-scale entrepreneurs as the only economic actors in the informal economy. This reflects an ideological, and market fundamentalist, understanding of the informal economy as inhabited only by small enterprises and self-employed workers, and the challenge as one of making the market work better for the poor.

    The blind spots of donors’ support to the informal economy

    This approach by donors neglects informal and highly precarious wage workers within the chop bar sector. Our research shows that the chop bar industry is stratified in terms of class. Within it, alongside genuine self-employed workers, there are people who own relatively small-scale capital (cooking assets and in some cases the land and buildings in which the bars are based) and who employ informal wage workers.

    The informal workforce is by and large made up of migrant female workers with relatively low education and skill. They work without contracts, for very long hours and very low wages, and face the risk of sudden dismissal and harassment from employers. Such poor working conditions stem from the lack of contracts, and of the rights that come with them. This is the weakest category of workers in the industry – yet they have no place in donors’ and trade unions’ activities to support workers.

    The main limitation of donors’ aid to the chop bar sector is that it focuses exclusively on supply-side interventions. It is based on the idea that improving skills and access to finance will result in increased demand for the services of small-scale entrepreneurs. Many aid programmes on employment make this mistake and suffer from so called “employment dementia” .

    This type of aid doesn’t ask where the stimulus to increase demand for street food will come from, or what the structural roots of urban employment challenges are. It doesn’t consider why African cities have large informal economies and poor-quality jobs.

    Aid priorities

    Donors should re-think their aid priorities, and put informal wage workers at their centre. This would entail moving away from the current focus on micro-solutions for job creation, and instead supporting policies to promote structural change, to tighten labour markets and increase the demand for good-quality jobs within them.

    This article was co-authored with Dr Prince Asafu-Adjaye, an associate of Labour Research Service.

    – Informal workers in Ghana’s chop bars get no benefit from foreign aid: donors are getting it wrong
    – https://theconversation.com/informal-workers-in-ghanas-chop-bars-get-no-benefit-from-foreign-aid-donors-are-getting-it-wrong-253633

    MIL OSI Africa –

  • MIL-OSI USA: Governor McKee, RIDOH Recognize Health Professional Loan Repayment Awardees and Donors

    Source: US State of Rhode Island

    Governor Dan McKee, the Rhode Island Department of Health (RIDOH), and the Board of the Health Professional Loan Repayment Program proudly recognized the 2024 cohort of the Health Professional Loan Repayment Program recipients at a State House ceremony today. The event also honored the donors and partners whose support continues to drive the program’s success.

    By offering loan repayment assistance, the Health Professional Loan Repayment Program supports the recruitment and retention of high-quality, community-centered healthcare professionals who serve in federally designated Health Professional Shortage Areas. This year, the program reached a major milestone�58 clinicians received awards, the largest cohort in the program’s history. The program provided over $1.6 million in loan repayment relief to recruit and retain health professionals in Rhode Island. Awardees include physicians, dentists, nurses, and behavioral healthcare providers, each of whom has pledged to serve in medically underserved communities for a minimum of two years.

    Governor McKee proposed an additional $200,000 investment in the FY26 state budget to further grow the program, specifically targeting primary care physicians and pediatricians. This funding would be matched by federal dollars and expand the program’s reach. If passed by the General Assembly, it will also be the first time that general revenue is invested in the program since Fiscal Year 2008.

    Today’s announcement comes a day after Governor McKee announced a series of short- and long-term strategic actions to strengthen Rhode Island’s primary care system. The included accelerating a primary care Medicaid rate review, requiring commercial health insurers to increase funding for primary care reimbursements, reducing red tape by easing prior authorization requirements, providing grants to help primary care practices serve additional patients and hire new providers, and strengthening fiscal oversight of Rhode Island’s health care system.

    “Programs like the Health Professional Loan Repayment Program are a critical part of the solution�helping us attract and retain providers in the communities that need them most,” said Governor McKee. “This is about making smart, long-term investments in our healthcare workforce so that every Rhode Islander can receive timely, quality care.”

    The Health Professional Loan Repayment Program is jointly administered by RIDOH and the Rhode Island Office of the Postsecondary Commissioner. The program is made possible through a combination of federal funding from the Health Resources and Services Administration (HRSA) and generous contributions from local organizations and donors. The Rhode Island Health Center Association (RIHCA) played a central role in securing matching funds from many of these partners.

    “The Health Professional Loan Repayment Program helps defray the cost of medical education, making the pathway to a career in primary care in Rhode Island more affordable for more students and new healthcare professionals,” said Director of Health Jerry Larkin, MD. “It also helps ensure that all communities have the opportunity to benefit from some of the most talented, dedicated members of our health care workforce.”

    “On behalf of Rhode Island’s health centers, the Rhode Island Health Center Association extends our congratulations and appreciation to all the 2024 awardees,” said Elena Nicolella, President and CEO of RIHCA. “We, along with our funding partners, understand how vital this program is to building a healthcare workforce that truly reflects and serves our communities.”

    Since its inception in 1994, the Rhode Island Health Professional Loan Repayment Program has provided more than $11.4 million in student loan repayment relief, empowering 337 clinicians to serve in medically underserved communities across the state. Over that time, the program has issued 358 total awards, including 279 first-time awards that have helped recruit new providers into areas of greatest need, and 79 retention awards that ensure continuity of care by allowing experienced clinicians to stay in the communities they serve.

    These targeted investments have not only helped relieve the financial burden of educational debt but have also strengthened both the pipeline and the long-term retention of Rhode Island’s healthcare workforce. Since 2013, 91% of awardees have maintained an active license in Rhode Island after completing their service obligation. As a result, more than 100,000 Rhode Islanders receive care each year from current or former program participants.

    2024 Health Professional Loan Repayment Program Donors include:

    Blue Cross & Blue Shield of Rhode Island, Delta Dental of Rhode Island, Care New England, Neighborhood Health Plan of Rhode Island, Prospect CharterCARE, the Rhode Island Foundation, the Rhode Island Medical Society, the Rhode Island Health Center Association, and UnitedHealthcare Community Plan.

    2024 Health Professional Loan Repayment Program Awardees Honored Include:

    Class of 2024 Agbelese Mofoluso, DNP, NP Alexa Allard, FNP-C Lexsey Almeida, LMHC Amanda Anacleto, APRN Natalia Aponte, RN Susana Arenas, LMHC Ashlee Austin, LCSW Jeffrey Bouley, FNP-C Garrett Bowen, MD Estefania Clavijo, LCSW Alexis Corey, RN Yamila Cos, DDS Marissa Dacruz, PA-C, CPH Randy D’Aquila, RN Shital Desai, DNP, MSN, FNP-C Laura Dobler, LCSW Lucinda Doman, RN Elizabeth Duran, RN Michelle Eche, LCSW John Gambino, RN Analisa Goncalves, LCSW Michelle Gras, PA-C Janick Hippolyte, APRN Roxanne Jardin, RN Alondra Jimenez, RN Kristen Julius- Woodbine, LCSW Mariam Kanteh, PA-C Erica Knarr, DMD Kimberly Kozlosky, APRN Madison Lombari, PA-C Matthew Lorenz, MD Ariadna Lozano, LCSW Taisha Macedo, APRN Sasha Martinez, RN Elizabeth Meyer, MD Sage Mueller, LCSW Irma Nalic, DMD Vanny Nhem-Raphael, RN Dayna Orourke, APRN Ashleigh Ortiz, RN Ashley Paradizo, RDH Nithin Paul, MD Marylin Powers, DO Jorge Resendiz, RN Cristina Restrepo, RDH Taylor Robbins, APRN Ernesto Rocha, RN Casey Rote, APRN John Saad, DMD Alyssa Saccoccia , RN Sarah Satterlee, APRN Nicole Schachman, APRN Kelly Smith, RN Wesley Smyth, APRN Jeannette Sorace-Burton, APRN Alison Turner, LMHC Bernadette Waleryszak, RN Cruz Zapata, LCSW

    MIL OSI USA News –

  • MIL-OSI Africa: President Ramaphosa appoints special advisor on investment promotion

    Source: South Africa News Agency

    Wednesday, April 30, 2025

    President Cyril Ramaphosa has appointed former Director-General (DG) of the Department of Trade and Industry, Dr Alistair Ruiters, as Special Advisor: Investment Promotion.

    “Dr Ruiters will advise President Ramaphosa on South Africa’s continuing investment drive, which is a principal component of the 7th Administration’s focus on inclusive economic growth and job creation.

    “Government is implementing a broad range of economic reforms aimed at rendering South Africa more attractive and rewarding for domestic and international investors; advancing greater diversification of the economy, and broadening South Africa’s integration into continental and global supply chains,” the Presidency said in a statement.

    Ruiters, who is an accomplished business leader, also boasts experience in the public service.

    “He holds a D Philosophy degree from Oxford University and a BA Honours from the University of Cape Town, among other qualifications.

    “Dr Ruiters is a former Commissioner of the Competition Commission who, as an entrepreneur, established a number of businesses, and served as Chief Executive and Chairperson of diverse institutions and enterprises, including the National Empowerment Fund, Pebble Bed Modular Reactor and the Afarak Group,” the statement concluded. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: SA ready to welcome visitors for G20 summit

    Source: South Africa News Agency

    By Sandile Nene

    The eyes of the world are firmly focused on South Africa as President of the G20 and the host nation of the G20 Summit in November. 

    This gathering will see the country welcoming over 40 global heads of state to our shores. The G20 accounts for 85 percent of the global economy, 75 percent of international trade, and about two-thirds of the world population.

    The summit will be held under the theme “Solidarity, Equality and Sustainability”, which aligns with our vision of inclusive growth, where all individuals and nations benefit from economic progress.

    As the first African nation to host the G20, South Africa will highlight issues such as economic inequality, development, climate change, and fair-trade practices. The platform of the G20 will also help to further connect countries on the continent and beyond.  

    The G20 is centred on creating a secure foundation for global economic stability, which is a vital catalyst for economic development and in implementing far-reaching global commitments such as the Pact for the Future and the 2030 Agenda for Sustainable Development (Agenda 2030).

    Our hosting of the G20 Summit is an opportunity to showcase all that South Africa offers to the world. This includes strengthening our brand as a tourism and business events destination. 

    The latest International Congress and Conventions Association (ICCA) rankings affirmed South Africa, as the leading business events destination in Africa and the Middle East.  South Africa is renowned for its exceptional ability of hosting world-class, high-profile international events, such as the BRICS Summit. In 2023 we hosted the Netball World Cup, and in 2010 we become the first African nation to host the FIFA World Cup. These and a myriad of other successful events have cemented our reputation of being able to host safe and successful global events. 

    We have also worked to make our country more accessible to international and continental visitors. South Africa has visa waivers for travellers from 132 countries for periods of between 30 and 90 days and our e-Visa system is available to travellers from 34 countries. The Department of Home Affairs also introduced an online e-Visa application system which has simplified the visa process for travellers from eligible countries.

    Speaking at the World Tradeshow 2024, the Minister of Tourism Patricia de Lille, emphasised that travellers to the country will be greeted by world class travel infrastructure with active international routes connecting 72 cities worldwide, serviced by 55 airlines, offering over 7,8million seats across over 52,000 flights scheduled for 2024. 

    The attention generated by the G20 is expected to attract visitors from around the world and will boost international tourism in the years to come. Over 200 meetings are expected to take place in South Africa which present opportunities for the country’s tourism, manufacturing, trade and other investment growth. The approximately 200 meetings will be spread across the different provinces of the country, and the tourism industry will see direct benefits with increased bookings for meeting venues and private tours. 

    The G20 Summit promises to have an economic ripple effect as local businesses will also receive a boost – contributing to sustaining jobs and growth in the tourism sector and other sectors. Furthermore, South Africa is an attractive destination for business services, and has sophisticated digital infrastructure, including mobile networks and high-speed broadband.

    Our hosting of the G20 will reinforce the country’s stature as an attractive and reliable destination for tourism related to Meetings, Incentives, Conferences, and Exhibitions (MICE). This will boost not only business events sector but also the greater South African tourism sector. The South African MICE industry was valued at R121.8 billion in 2023, and it is projected to grow fourfold over the next eight years, reaching R477.9 billion by 2032.

    A number of successful G20 meetings have already been held, including the high profile first Foreign Ministers Meeting, and the first Finance and Central Bank Ministerial Meeting.  As part of efforts to showcase our nation to the world, G20 meetings are being hosted across the country. 

    Recently South Africa was crowned the friendliest country in the world according to a global study by international money transfer service Remitly. In its report Remitly said: “Residents are known for being warm and welcoming, making it easy for travellers and visitors to feel at ease around them.” 

    Let us therefore continue to live up to this reputation by welcoming visitors from around the world with our unique brand of home-grown hospitality. Let us show visitors all that our beautiful country has to offer, and make sure that every visitor leaves our shores with cherished memories and joyful hearts.

    *Sandile Nene is the Acting Deputy Director-General for Content Processing and Dissemination in the Government Communication and Information System (GCIS).

    MIL OSI Africa –

  • MIL-OSI Africa: Budget to be re-tabled on 21 May 2025

    Source: South Africa News Agency

    Finance Minister Enoch Godongwana is expected to re-table the 2025 Budget Review on 21 May 2025.

    This after National Treasury announced that it has withdrawn the proposed 0.5% Value-Added Tax (VAT) increase which was to be implemented on 1 May 2025.

    Godongwana announced the date of the new budget review during a media briefing in Pretoria, on Wednesday.

    The Minister described the ensuing debate following the announcement of the budget tabled on 12 March 2025 as “rigorous, as is right in a healthy democracy”.

    “Today, there’s a clarity [that] VAT will remain at 15%. This decision was shaped not only by political debates but importantly, by the voices of South Africans. 

    “When people speak, we must also listen, and I’m encouraged by the passion shown. It reflects the seriousness with which we approach the hard choices needed to place our finances on a sustainable path, protect the vulnerable and accelerate growth,” he said.
    Godongwana said he was “pleased” that the budget will be balanced “without raising VAT while protecting vital services like education, health and social grants.”

    Three-pronged approach

    The Minister said going forward, National Treasury’s focus will be threefold starting with balancing the budget by managing costs better.

    “Raising other taxes besides VAT was not an option [as] it would harm growth, savings and jobs. Borrowing more would worsen our debt crisis. We already spend more than R1 billion servicing debt. We must do more with less, review government spending critically, root out waste, every cent of public money must be spent wisely.

    “The second issue, we must strengthen revenue collection. In the [March] budget, we made provisions for SARS [the South African Revenue Service] to collect more particularly for those who still owe SARS and to deal with illicit trading,” he said.
    The third area that Treasury will home in on is laying “strong foundations for economic growth”.

    “Job creation is the number one priority. We must remove barriers to investment, unlock private sector capital and expand opportunities for all South Africans. Through Operation Vulindlela, we have already seen what focused collaboration can achieve and we will now accelerate these reforms.

    “The challenges ahead are serious but not insurmountable. If we work together, stay focused and persevere, we can chart a better course for our economy and our people. That is my commitment to South Africans and that is what we aim to achieve when we table the new Budget on the 21st of May 2025,” he said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Work underway to develop new fiscal framework

    Source: South Africa News Agency

    Wednesday, April 30, 2025

    National Treasury has assured South Africans that a revised budget will “adhere to all established technical processes and consultations, as set out in the Money Bills and Related Matters Act”.

    This after Finance Minister Enoch Godongwana announced that the 2025 Budget Review will be re-tabled in Parliament on 21 May.

    “This includes formal consultations with the Financial and Fiscal Commission, thorough consultations with all political parties within the Government of National Unity as well as Cabinet approval before presentation to Parliament.

    “While the postponement of the budget’s passage is not ideal, the circumstances leading to this decision have highlighted the importance of meaningful engagement on fiscal matters.

    “This situation has provided a valuable opportunity for all stakeholders – citizens, Members of Parliament, labour organisations, and civil society – to thoroughly engage with the complex challenge of achieving fiscal sustainability, while promoting economic growth and protecting essential public services within very limited resources,” National Treasury said on Wednesday.

    In the interim before the budget is passed in Parliament, government services “continue to be funded under section 29 of the Public Finance Management Act”.

    “This allows spending of up to 45% of last year’s budget during the first four months, and up to 10% for each month after that.

    “While we wait for the 2025 Division of Revenue Act to be passed, funding for provinces and municipalities will continue under the 2024 Act, allowing transfers of up to 45% of their allocated funds,” Treasury said.

    New path

    Work is already underway to develop a new fiscal framework that Treasury emphasises will “maintain the trajectory toward debt stabilisation, a crucial element in strengthening our public finances”.

    The process for a new fiscal framework includes:

    • Revising economic assumptions using the latest available data.
    • Generating updated fiscal projects.
    • Recalculating revenue projections and tax implications.
    • Determining appropriate borrowing strategies.
    • Consolidating these elements into a coherent and sustainable fiscal framework.

    “The Ministry remains committed to transparent communication throughout this process and will provide further updates as they become available. 

    “We owe it to the hardworking citizens of South Africans to be open and transparent about how tax money is spent. 

    “The budget that will be tabled on 21 May will aim to maintain these principles,” Treasury said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI USA: Booker, Jeffries Conclude Day-Long Capitol Steps Sit-In Calling Americans to Action to Protect Medicaid, Safety Net Programs from GOP Budget Cuts

    US Senate News:

    Source: United States Senator for New Jersey Cory Booker
    WASHINGTON, D.C. – U.S. Senator Cory Booker (D-NJ) and House Democratic Leader Hakeem Jeffries (D-NY) have concluded a day-long sit-in on the US Capitol steps that began at sunrise today, calling Americans to action to protect Medicaid and other vital safety net programs from devastating cuts proposed in Trump and Congressional Republicans’ budget bill.
    With Congress returning to session tomorrow, Republican leaders have made clear their intention to use the coming weeks to advance a reckless budget scheme to President Trump’s desk that seeks to gut Medicaid, food assistance and basic needs programs that help people, all to give tax breaks to billionaires. Given what’s at stake, these could be some of the most consequential weeks for seniors, kids and families in generations.
    The sit-in—which began at 6:14am ET this morning with Booker and Jeffries opening a live streamed conversation with their social media followers as the sun was rising over the Capitol—saw numerous guest speakers and passers-by participate, including families who rely on critical programs like Medicaid, people who administer nutrition programs that keep Americans from going hungry, union leaders who fight for fair wages and working conditions, experts on Social Security and civil rights, and Senators and members of Congress.
    The live stream concluded at 6:35pm ET, after more than 12 hours. 
    “Budgets are more than just numbers in a spreadsheet—they are moral documents,” said Senator Booker. “They reveal what we value, who we protect, and what we stand for. That’s why I came here today: to sit-in at a sacred civic space, to make clear the moral and practical stakes of the Trump budget proposal, and to call others to action. Republicans in Congress are proposing cuts that will take food from children, healthcare from the sick, and dignity from those already struggling. It’s wrong. To stop it, we all must say so—clearly, courageously, and together. Speaking out and speaking up is how we will convince four Republicans in the House and Senate to do the right thing and vote no.”
    “Republicans are crashing the economy in real time,” said House Democratic Leader Jeffries. “Now, they want to jam a reckless budget down the throats of the American people that will end Medicaid as we know it, destroy Social Security and rip food from the mouths of children, seniors and veterans. As Democrats, we’re going to continue to stand on the side of the American people and we will not rest until we bury this reckless Republican budget in the ground.”
    For millions of Americans, Sundays are a day of faith, spirituality and moral reflection. In that spirit, Booker and Jeffries launched their sit-in this morning—an urgent conversation with the American people to focus on our common values, our faith traditions, and the moral moment facing our nation.
    Over the course of the day, Booker, Jeffries, and participants spoke to our shared American values and our nation’s religious and moral underpinnings, and how the Republican budget bill is antithetical to these beliefs. They also affirmed to Americans that their voices not only matter, but are needed in this moment in order to stop these harmful cuts.
    The conversation was live-streamed on multiple platforms, including TikTok, Instagram, Facebook, X, and YouTube.

    MIL OSI USA News –

  • MIL-OSI USA: Sens. Wicker, Bennet Introduce the LOCAL Infrastructure Act

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker
    WASHINGTON – U.S. Senators Roger Wicker, R-Miss., and Michael Bennet, D-Colo., introduced the Lifting Our Communities through Advance Liquidity for Infrastructure (LOCAL Infrastructure) Act of 2025. The legislation would amend the federal tax code to restore state and local governments’ ability to use advance refunding to manage bond debt and reduce borrowing costs for public infrastructure projects.
    “The LOCAL Infrastructure Act would amend the federal tax code to give more financial flexibility to state and local governments. Restoring advance refunding would help community leaders manage their existing debts and allow for more investment to improve their existing infrastructure. Local leaders know what their states need best, and it’s important to give them the resources to ensure their community’s success,” said Senator Wicker.
    “As state and local governments work to improve their communities and plan for the future, our bipartisan bill will support their efforts to revitalize infrastructure, create jobs, and improve quality of life for all Coloradans,” said Senator Bennet. “From improving our roads and bridges to modernizing our hospitals and schools, this legislation will help create stronger and more resilient communities.”
    “SIFMA would like to thank Senator Roger Wicker (R-MS) and Senator Michael Bennet (D-CO) for their continued leadership on municipal bonds. Advance refunding is an important tool which permits state and local governments to save billions of dollars in interest costs by refinancing their outstanding debt to a lower interest rate. Our nation benefits by allowing for a robust capital market to flourish, which in turn helps local communities build affordable infrastructure specifically related to their needs. Reinstating the prior tax-exemption for advance refunding bonds is essential to making that happen and the LOCAL Infrastructure Act does just that,” said SIFMA President Kenneth E. Bentsen, Jr.
    “Tax-exempt municipal bonds are a critical tool enabling counties to finance infrastructure projects for our communities” said National Association of Counties Executive Director Matthew Chase. “The LOCAL Infrastructure Act would restore the tax-exemption of advance refunding bonds and give counties the flexibility to respond to market conditions and lower borrowing costs for residents. Counties applaud Senators Wicker and Bennet for their bipartisan leadership and urge swift passage of this legislation.” 
    Advance refunding allows state and local governments to refinance outstanding municipal bonds to more favorable borrowing rates or conditions before the end of the initial bond term on a tax-exempt basis. This process is very similar to how a homeowner may refinance the mortgage on their property to lock in a lower interest rate. The federal tax-exempt debt could be refinanced only once, but local communities would be able to take advantage of the lower interest rates to generate additional savings on existing bonds. Local governments could reinvest these savings to fund infrastructure, education, health care, or other capital improvement projects. Advance refunding has saved state and local governments billions of dollars over decades, but has been unavailable to state and local governments since 2017.
    Click here to read a one-page outline of the legislation.
    Click here to view the full text of the legislation.

    MIL OSI USA News –

  • MIL-OSI USA: Kamlager-Dove, Lee Introduce Bipartisan Fresh Start Act

    Source: United States House of Representatives – Congresswoman Sydney Kamlager California (37th District)

    WASHINGTON, D.C.– Today, Representatives Sydney Kamlager-Dove (D, CA-37) and Laurel Lee (R, FL-15) introduced the Fresh Start Act, a bipartisan bill to provide support for rehabilitated individuals to have access to employment, housing, and educational opportunities.

    “No one should be denied a job, housing, or education because of bureaucratic red tape,” said Rep. Kamlager-Dove. “Millions of Americans have arrest or conviction records that are eligible to be sealed or expunged, yet many are blocked by confusing, burdensome, and costly processes. I’m proud to cosponsor the bipartisan Fresh Start Act, which helps individuals who have been exonerated or who have paid their debts to society get a chance to contribute to their communities. This legislation will give states the resources they need to implement automatic record clearance systems that offer people a fresh start.”

    Approximately one-third of Americans have criminal records that can hinder their ability to secure employment, housing, or educational opportunities. While many of them qualify for record-sealing or expungement under state laws, the process is frequently complicated, time-consuming, and costly.

    The Fresh Start Act would allow states that have enacted automated record-sealing or expungement laws to apply for federal infrastructure grants to help streamline the process. This federal legislation builds on the momentum of Clean Slate policies enacted in 2018 by a diverse group of 12 states including California, Colorado, Connecticut, Delaware, Michigan, Minnesota, New Jersey, New York, Oklahoma, Pennsylvania, Utah, and Virginia.

    “People who have worked to turn their lives around after a criminal conviction deserve the opportunity to move forward, not be held back by administrative barriers. Today, nearly one-third of Americans have a criminal record that can prevent them from getting a job, finding housing, or pursuing education—even when they qualify for record-sealing or expungement. The Fresh Start Act of 2025 modernizes and streamlines these processes for states, helping more individuals access the opportunities they’ve earned. I look forward to seeing my colleagues come together to pass this important legislation and ensure that everyone who deserves a second chance has the opportunity to build a better future,” said Congresswoman Laurel Lee.

    Sheena Meade, CEO of The Clean Slate Initiative, said, “The Fresh Start Act recognizes what we’ve seen on the ground: Clean Slate has the power to change lives. This legislation is an essential component of modernizing state infrastructure, making sure federal support is spent on common-sense solutions that are serious about safety and benefit communities across the country. A fresh start should be more than a promise; it should be a reality. With the Fresh Start Act, it can be.”

    Jason Pye, Executive Director of the Due Process Institute, said, “The Fresh Start Act is a commonsense policy solution to help improve states’ record-sealing laws. The bill crucially allocates already existing funding to help with the implementation of proven recidivism reduction strategies that result in better economic outcomes and safer communities for us all. We urge members of Congress to join in cosponsoring and supporting this bipartisan legislation.”

    Akua Amaning, Director of Criminal Justice Reform, Center for American Progress said, “Everyone deserves the opportunity to unlock their full potential. Yet, for far too many people who have been impacted by America’s criminal legal system, a second chance can be hard to achieve with an arrest or conviction record. The Fresh Start Act will provide important resources to states that are working to remove unnecessary barriers to employment, housing, education, and other critical life resources due to having a record. In helping to create pathways to automatic record expungement at the state level, The Fresh Start Act will not only help individuals transform their lives, but will also improve economic security and public safety outcomes for all. We applaud the bipartisan support for this measure and urge Congress to swiftly pass the Fresh Start Act.”

    Patrick Plein, Director of CPAC’s Nolan Center for Justice, said, “Communities are safer when individuals returning from prison are given a fair chance to reintegrate into society and rebuild their lives. The Fresh Start Act recognizes that people are more than their past mistakes—they are hard working parents, employees, and neighbors with the potential to prosper. By removing barriers to opportunity, these bills strengthen families, boost our economy, and promote public safety.”

    “The Fresh Start Act is a common sense measure that will help give people who have fulfilled their justice system obligations a second chance,” said Nan Gibson, Executive Director of the JPMorganChase Policy Center. “The bill would make federal grants available to states to upgrade their justice system infrastructure so that states can implement Clean Slate legislation and strengthen their workforce.  Over the last six years, our firm has hired more than 21,000 people with a record whose history had no bearing on the requirements of their job, because we know implementing fair chance hiring practices is good for our business and the economy.  This measure will enable companies like ours to continue to connect individuals to meaningful career pathways, opening doors to opportunities that transform lives, lift up communities and strengthen the workforce.”

    Summary:

    • Amends 34 U.S.C. §40302 (National Criminal History Improvement Program, or NCHIP) to include funding for covered automatic expungement and record sealing laws.
    • Covered Expungement Law—The term “automatic” is defined as expungement or sealing that does not require any action on the part of the eligible individual. The term “covered expungement law” is defined as a law of a State that provides for the automatic expungement or sealing of a criminal record, subject to requirements imposed by the State.
    • Reporting Requirements—A State that receives a grant under the Fresh Start Act of 2025 is required to produce and send a report to the Attorney General, under the guidelines established by the Attorney General, that provides information on:
      • the number of individuals eligible for automatic expungement or sealing disaggregated by race, ethnicity, and gender;
      • the number of individuals whose records have been expunged or sealing disaggregated by race, ethnicity, and gender;
      • and the number of individuals who application for expungement or sealing are still pending disaggregated by race, ethnicity, and gender;
    • Inaccessibility of Data for Reporting—If data required for reporting are not available, the State is required to develop and report a plan to obtain as much of the data as possible no later than one (1) year after the first year the grant is awarded.
    • Publication—The Attorney General is required to publish and make publicly available a report containing data collected under the reporting requirements.

    Read the bill text here. 

    MIL OSI USA News –

  • MIL-OSI: XRP News: XploraDEX $XPL Token Now Live on MagneticX Exchange—Buy Now Before the Next Wave Hits

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, April 30, 2025 (GLOBE NEWSWIRE) — The wait is over. The $XPL token, native to XploraDEX—the first AI-powered decentralized exchange on XRPL—is now officially trading on MagneticXc. And just hours after going live, investor demand is already surging.

    Purchase $XPL token on MagneticX

    After an explosive presale that saw over 86% of the token allocation claimed and a record-setting token distribution phase, $XPL is now fully unleashed on the open market. This marks a new era for XRPL traders and DeFi participants looking to capitalize on the future of smart, AI-powered trading.

    Why You Need to Act Now:

    • $XPL is trading live on MagneticXc, the fastest-growing DEX on XRPL.
    • Early holders have already begun staking and accessing the AI-powered dashboard.
    • First listings often see rapid price discovery—early entries typically yield the highest returns.
    • The next listings on more XRPL-based DEXs are rumored to follow soon.

    Buy $XPL on MagneticX Exchange

    The launch of $XPL on MagneticXc opens up real-time access to the heart of the XploraDEX ecosystem. And with the AI dashboard, staking pools, and governance activation going live in the coming days, the token’s utility is not just speculative—it’s functional and evolving.

    What $XPL Offers:

    • Access to smart trading tools powered by AI
    • High-yield staking opportunities
    • Protocol governance participation
    • Priority launchpad access for XRPL project launches
    • Real-time analytics for smarter portfolio management

    The XRP community has already started responding. Trading volume is ramping up, new wallet addresses are connecting, and social sentiment is turning bullish. On-chain indicators show a steady rise in demand as investors position ahead of platform milestones.

    Purchase $XPL token on MagneticX

    This Is the Moment

    If you missed the presale—this is your chance to get in before price discovery takes $XPL further into uncharted territory. The listing on MagneticXc is only the beginning of $XPL’s journey across the XRPL DeFi landscape.

    The window to be early has reopened—but only for a short while.

    Buy $XPL on MagneticX Now

    $XPL is live. Trading has begun. Be early—or be priced out.

    Join AI Revolution with XploraDex – Website | $XPL Token | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/32827ea9-b455-4249-9cda-2839b3e09751

    The MIL Network –

  • MIL-OSI Russia: Tatyana Golikova: Five world-class genomic research centers will be created in 2025

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Deputy Prime Minister Tatyana Golikova held a meeting of the Council for the implementation of the Federal Scientific and Technical Program for the Development of Genetic Technologies for 2019–2030. The agenda included summing up the results of the competitive selection of organizations on the basis of which world-class genomic research centers will be created, as well as the competition for the distribution of grants for the implementation of research programs and projects in the field of genetics.

    “We are starting the next stage of the implementation of the Federal Scientific and Technical Program for the Development of Genetic Technologies – with updated objectives, a reboot of previously implemented areas and the selection of new research centers. It is extremely important that the centers selected today bring the expected results. According to the Strategy for Scientific and Technological Development, approved by the President in 2024, genetic technologies are designated as a priority area. Our goal is not only to deepen fundamental research in this area, but also to ensure its practical implementation,” said Tatyana Golikova.

    As the Deputy Prime Minister noted, the centers will be created in four areas of the Federal Scientific and Technical Program for the Development of Genetic Technologies until 2030:

    · biosafety and ensuring technological independence;

    · genetic technologies for agricultural development;

    · genetic technologies for medicine;

    · genetic technologies for industrial microbiology.

    The head of the Ministry of Education and Science, Valery Falkov, noted that the conditions of the competition had been revised.

    “Today we are faced with the most important task of achieving technological leadership, in connection with which many programs for supporting scientific research have been finalized, including the program for creating world-class genomic research centers. Now, the presence of an industrial partner or a qualified customer is one of the key conditions for participation in the competition,” the minister emphasized.

    World-class genomic research centers are consortia that unite the potential of research institutes, universities, and organizations of the real sector of the economy. Their activities contribute to the acquisition of new knowledge in the field of genetics and the development of new technologies.

    Following a competitive selection process, the government has formed a list of organizations on the basis of which five world-class genomic research centers will begin operating in 2025–2030.

    The Center for High-Precision Genetic Technologies for Medicine will be created on the basis of a consortium of the V.A. Engelhardt Institute of Molecular Biology of the Russian Academy of Sciences, N.I. Pirogov Russian National Research Medical University, and the National Medical Research Center of Hematology. Its main areas of work include the creation of anti-cancer drugs based on recombinant oncolytic viruses, drugs for the treatment of ischemic strokes, technologies for obtaining functional protein structures and pharmacogenetic approaches for medical diagnostics, as well as personnel training and retraining.

    The Center for Predictive Genetics, Pharmacogenetics and Personalized Therapy is being created on the basis of the Russian Scientific Center of Surgery named after Academician B.V. Petrovsky. The expected results of the center include, for example, the search for and identification of new genes responsible for cardiovascular diseases; the development of a diagnostic technology (“liquid biopsy”) for monitoring the risks of rejection and oncological diseases in patients who have undergone organ transplantation; the creation of a remote access advisory center for doctors and the development of higher and professional education programs in the field of genetics and pharmacogenetics.

    The world-class genomic research center “Genetic reprogramming and gene therapy” is being created on the basis of a consortium of five organizations: the Federal Scientific and Clinical Center of Physical and Chemical Medicine named after Yu.M. Lopukhin of the Federal Medical and Biological Agency of Russia, the Federal Center for Brain and Neurotechnology of the Federal Medical and Biological Agency of Russia, the State Research Center “Institute of Immunology” of the Federal Medical and Biological Agency of Russia, the Institute of Cytology of the Russian Academy of Sciences, and the Moscow Clinical Research Center named after A.S. Loginov. The center’s program involves bringing several completely original drugs to implementation, for example, for the treatment of spinal muscular atrophy and hereditary angioedema.

    The activities of the World-Class Genomic Research Center “Ensuring Biological Safety and Technological Independence” of Rospotrebnadzor are aimed at actively introducing modern genomic technologies and synthetic biology methods into the country’s biosafety system. In particular, within the framework of the project, scientists set themselves the task of describing viruses of vertebrate and arthropod carriers in natural reservoirs that have pathogenic potential. As a result, taking into account the use of modern technological solutions for metavirome analysis, new, previously undescribed or modified viruses will be identified and their zoonotic and pathogenic potential for humans will be assessed. This will allow the Russian Federation to become the third country in the world to implement such global projects.

    The Kurchatov Genome Center consortium will include the Kurchatov Institute National Research Center, the Institute of Cytology and Genetics of the Siberian Branch of the Russian Academy of Sciences, and the All-Russian Research Institute of Agricultural Biotechnology. The center’s main tasks include creating producer strains (bacterial systems), methodologies for designing varieties based on the analysis of large genotyping data, developing new varieties and hybrids, prototypes of varieties of strategically important agricultural crops obtained using genome editing, as well as developing and implementing educational programs for specialists (in genomic selection) and gifted schoolchildren.

    In addition, following the results of the competition for the distribution of grants for the implementation of research programs and projects in the field of genetics, 13 teams conducting research in the field of genetics and 14 projects that will result in the creation of bioresource collections will receive support. The total amount of their funding in 2025 will be 1.7 billion rubles.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Countdown begins for the maiden edition of WAVES – World Audio Visual & Entertainment Summit

    Source: Government of India

    Countdown begins for the maiden edition of WAVES – World Audio Visual & Entertainment Summit

    Mumbai is all set to host WAVES 2025

    Four days of knowledge exchange, dialogue, and collaboration between Indian and global M & E stakeholders

    WAVES to make waves in India’s Creative Economy

    Posted On: 30 APR 2025 4:46PM by PIB Mumbai

    Mumbai, 30 April 2025

     

    The countdown for the much-anticipated milestone event for the Media & Entertainment (M&E) sector -WAVES (World Audio-Visual & Entertainment Summit 2025) has begun. This groundbreaking four-day event, starting tomorrow at Jio World Convention Centre in Mumbai is designed to propel India’s Media & Entertainment industry to even greater heights.

    As Mumbai, the entertainment capital of India, is gearing up to welcome the who’s who of Media & Entertainment sector who shall delve into engaging panel discussions, thought-provoking and inspiring discourses, knowledge-sharing in-conversation and interactive sessions, enriching master-classes by the industry luminaries et al, the multi-dimensional takeaways over the coming four days for the stakeholders look promising for a future-ready M & E sector in the country.

    This is because WAVE Summit is meant to amplify India’s Voice as a Global Powerhouse. WAVES, from its debut year, will provide a platform to showcase India’s vibrant creative industry and its immense potential within the global M&E landscape. Adding to the same, WAVES will also promote knowledge exchange, dialogue, and collaboration between Indian and global stakeholders. This pioneering initiative by the Ministry of Information & Broadcasting, Government of India is envisioned for gainfully leveraging India’s rich spiritual legacy for global harmony and propel the Creator’s economy in the right direction. 

    The Four Pillars of WAVES

    The mega-event encompassing the entire gamut of M & E sector has been broadly divided into four pillars.

    One: Broadcasting & Infotainment – Encompassing the traditional and evolving landscape of information and entertainment delivery, this focus area aims at prioritizing information, empowering citizens, and going global by adapting to the challenges of the 21st Century. It includes the following areas of the creative economy:

    • Broadcast: Television, Radio, Podcasts, Sports Broadcasting
    • Content Creation: Print Media, Music
    • Delivery Platforms: Carriage (Cable & Satellite), DTH (Direct-to-Home)
    • Advertising & Marketing: Leading professionals shaping brand strategies within the M&E space.

    Two: AVGC-XR – This segment explores the cutting-edge world of immersive storytelling and interactive experience powered by a combination of artistry, entertainment and technology. It encompasses the following specific areas:

    • Animation
    • Visual Effects
    • E-Sports
    • Comics
    • Augmented Reality/ Virtual Reality (AR/ VR)
    • Metaverse & Extended Reality (XR)

    Three: Digital Media & Innovation: This segment explores the ever-evolving digital landscape and its impact on entertainment consumption. It includes:

    • Digital Media & App Economy
    • OTT Platforms
    • Social Media Platforms
    • Generative AI & Emerging Technology
    • Influencers & Content Creators  

    Four: Films: This segment explores the world of filmmaking, production and globalization.

    • Films, Documentaries, Shorts, Videos
    • Film Technology (Shooting, Post-Production)
    • Globalization of Indian Cinema
    • Co-Production
    • Film Incentives
    • Audio-Visual Services

    Create in India Challenge and Creatosphere: Launched as part of WAVES, the Create in India Challenge (CIC) Season-1, has achieved a milestone of crossing 85,000 registrations including 1,100 International participants. Over 750 finalists have been selected after a meticulous selection process, from across 32 diverse challenges. These talented creative minds will get a unique opportunity in the Creatosphere to showcase the outcome and output of their individual talent and skills, apart from networking opportunities with business leaders from their respective sector including pitching sessions, and learn from global stalwarts through masterclasses and panel discussions. 

    The Creatosphere at WAVES will offer immersive experiences with masterclasses, workshops, a gaming arena, and the Grand Finale of the Create in India Challenges, culminating in the WAVES CIC Awards.

    Global Media Dialogue, to be held at WAVES on 2nd May 2025, is yet another segment that aims to bring together global leaders, policymakers, industry stakeholders, media professionals, and artists to engage in a constructive and dynamic dialogue aimed at shaping the future of the audio-visual and entertainment sectors with a focus on international collaboration, technological innovation, and ethical practices.

    Thought Leaders Track: Through plenary sessions, conference sessions and breakout sessions, top CEOs and global leaders will provide insights and diverse perspectives, while also undertaking strategic discussions for collaborations.

    WaveXcelerator will connect M&E startups with investors and mentors through live pitching sessions to foster innovation and funding. It will act as a catalyst for Indian startups to lead this transformation, ensuring they receive the right exposure, and investment to scale up their businesses.

    WAVES Bazaar is a premier global marketplace for the media and entertainment industry that offers filmmakers and industry professionals the opportunity to engage with buyers, sellers, and a wide range of projects and profiles. The Viewing Room is a dedicated physical platform set up at Waves Bazaar, open from May 1st to 4th, 2025. For the first ever WAVES Bazaar, a total of 100 films from 8 countries namely India, Sri Lanka, USA, Switzerland, Bulgaria, Germany, Mauritius and UAE will be available to watch in the Viewing Room Library.

    Bharat Pavilion: Guided by the theme “Kala to Code” the Bharat Pavilion will celebrate India’s spirit of Vasudhaiva Kutumbakam — the world is one family — and showcase how the country’s artistic traditions have long been a beacon of creativity, harmony and cultural diplomacy. At the core of the Bharat Pavilion are four immersive zones that will take visitors through the continuum of India’s storytelling traditions, named Shruti, Kriti, Drishti, and Creator’s Leap.

    Exhibition Pavilion: A dynamic showcase of imagination meeting innovation, from cutting-edge tech to future-forward trends, the pavilion exhibits Indian and Global breakthroughs in the Media & Entertainment sector.

    National Sammelan on Community Radio will also be held as part of WAVES which will deliberate and focus on issues related to latest trends, policies and programmes for empowering abilities to strengthen engagement with the local community through the powerful platform of community radio.

    WAVES Culturals will be showcasing diverse performances and presentations, blending Indian and international talent. The event aims to recognize the transformative power of media and entertainment in fostering cultural exchange and harmony.

    Hence, whether you’re an industry professional, investor, creator, or innovator, the first edition of the Summit offers the ultimate global platform to connect, collaborate, innovate and contribute to the M&E landscape.

    WAVES is set to magnify India’s creative strength, amplifying its position as a hub for content creation, intellectual property, and technological innovation. Industries and sectors in focus include Broadcasting, Print Media, Television, Radio, Films, Animation, Visual Effects, Gaming, Comics, Sound and Music, Advertising, Digital Media, Social Media Platforms, Generative AI, Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR).

    For details, visit https://wavesindia.org/

    To know about the schedule of the 4-day mega event, click here

    Follow PIB to stay updated on WAVES 2025

     

    * * *

    PIB TEAM WAVES 2025 | Rajith/ Sriyanka/ Darshana | 118

     

    Follow us on social media: @PIBMumbai    /PIBMumbai     /pibmumbai   pibmumbai[at]gmail[dot]com  /PIBMumbai     /pibmumbai

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    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Kissimmee Real Estate Broker Sentenced For Bank Fraud

    Source: Office of United States Attorneys

    Orlando, FL – United States District Judge Wendy W. Berger has sentenced Maria Del Carmen Montes (48, Kissimmee) to 33 months in federal prison for bank fraud. Montes pleaded guilty on January 4, 2024. 

    According to court documents, Montes, co-conspirator Carlos Ferrer, and others created and executed a mortgage fraud scheme targeting financial institutions. Montes assisted clients with purchasing homes and, after signing the real estate contract, referred her buyers to a loan officer at a mortgage company. In order to qualify her clients for mortgage loans for which they were unqualified, Montes transferred the personal identifying and financial information of her clients to Ferrer and directed Ferrer to create fictitious paystubs and W-2s showing false earnings and length of employment for her clients, knowing that her clients never worked for the companies on the fictitious employment documents. After Ferrer created the documents, Montes submitted the fictitious paystubs and W-2s to the financial institutions who relied on them when making underwriting decisions. 

    On August 13, 2024, Ferrer was sentenced to four months’ imprisonment and ordered to serve three years of supervised release for his role in the case.

    This case was investigated by the Federal Housing Finance Agency – Office of Inspector General, the U.S. Department of Housing and Urban Development – Office of Inspector General, and the Federal Bureau of Investigation. It was prosecuted by Special Assistant United States Attorney Chris Poor.

    MIL Security OSI –

  • MIL-OSI: System Solutions LLC Released AutoQuotes Integration for Microsoft Dynamics 365 Business Central

    Source: GlobeNewswire (MIL-OSI)

    GLASTONBURY, Conn., April 30, 2025 (GLOBE NEWSWIRE) — System Solutions LLC announced the release of a powerful new integration connecting Revalize AutoQuotes (AQ) with Microsoft Dynamics 365 Business Central cloud ERP software. This integration enables commercial kitchen and foodservice, equipment and service (FES) dealers, consultants, and manufacturers to streamline their Configure, Price, Quote (CPQ) process in AutoQuotes and then electronically move customers, orders and items into Business Central ERP software to manage fulfillment and all other business requirements.

    With the new integration, users can build detailed AutoQuotes Projects and Quotes, then seamlessly convert them into Business Central Sales Orders where users can manage customers, payments, purchase orders, receiving, shipping, inventory, project management, installations, and accounting without switching systems or manually re-entering data.

    “The integration of AutoQuotes with Microsoft Dynamics 365 Business Central unlocks a new level of efficiency for the foodservice and equipment industry businesses. The entire operation can be managed from quoting through fulfillment using connected software” says Dave Durrenberger, Director of Sales, System Solutions LLC.

    The integration connects the AutoQuotes industry standard kitchen quoting software to the full power of Microsoft Dynamics 365 Business Central, accelerating the sales process, enhancing financial visibility, and minimizing fulfillment delays.

    Microsoft Dynamics 365 Business Central is Microsoft’s cloud ERP software and manages: Customers, Vendors, Inventory, Sales, Purchasing, Warehouse, Shipping, Service, Projects, Manufacturing, Assembly, Accounting, and Financials. Business Central is designed so that small and medium sized businesses, single or multi-location, national or international, can run their entire business with one software.

    Revalize AutoQuotes (AQ) software is a trusted product in the FES industry. AutoQuotes can configure, price, and quote from nearly one million products, supplies, and accessories from more than eight hundred manufacturers including: product descriptions, pricing, spec sheets, warranty information, CAD, and Revit content.

    To learn more about Microsoft Dynamics 365 Business Central or the Revalize AutoQuotes (AQ) Integration, visit www.syssolutionsllc.com or contact us at +1 (860) 781-9986.

    About System Solutions LLC
    System Solutions LLC is a certified Microsoft Partner specializing in Microsoft Dynamics 365 Business Central solutions tailored to the retail, wholesale, and distribution markets. With industry experience in foodservice and commercial equipment sales, System Solutions delivers purpose-built tools and integrations to help businesses grow.

    Contact Information:
    System Solutions LLC
    80 Eastern Boulevard, Suite 2
    Glastonbury, CT 06033
    Phone: (860) 781-9986

    The MIL Network –

  • MIL-OSI Economics: Press Briefing Transcript: Staff Level Agreement on the Fourth Review of the Sri Lanka’s Reform Program Supported by the IMF’s Extended Fund Facility Arrangement

    Source: International Monetary Fund

    April 29, 2025

    PARTICIPANTS: 

    EVAN PAPAGEORGIOU, Mission Chief for Sri Lanka, IMF

    PAVIS DEVAHASADIN, Communications Officer, IMF

    MARTHA TESFAYE WOLDEMICHAEL, Resident Representative in Sri Lanka, IMF

    *  *  *  *  * 

    DEVAHASADIN: I welcome you to the press conference on Sri Lanka, the Staff-Level Agreement of the Fourth Review of the economic program support by the EFF.  Today we have here Mr. Evan Papageorgiou, IMF Mission Chief for Sri Lanka.  He’s joined by Martha Woldemichael, IMF Representative in Sri Lanka. 

    Again, this is on the record.  The transcript will be available later.  We have a lot of people here, so we’re just going to start with Mr. Evan giving the brief remarks and then we move on to the Q&A session.  All right, Evan, over to you on the remarks.

    PAPAGEORGIOU: Yeah, thank you. Thank you, Pavis. Thank you also to Martha for being here.  And hello, everybody.  Good evening to those of you in Sri Lanka and good morning to the few folks here in Washington.  I thank you all for being here today.  I would have preferred to be with you in Colombo, but unfortunately this is not feasible this time.  We will have to talk through a screen. 

    By way of short introduction, as you heard, my name is Evan Papageorgiou.  I am the new Mission Chief for Sri Lanka for the IMF.  And some of you may know already that there has been a change in Mission Chief with this review, which is part of a routine rotation of people in the team.  I look forward to seeing some of you again.  I already had a chance to meet you a few weeks ago, or otherwise to meeting you all next time we’re in the country.  We had the opportunity to be in the country.  I led a team of economists visiting Colombo earlier this month, where we had productive discussions with the authorities.  These discussions continued here last week here in Washington, D.C., on the occasion of our Spring Meetings. 

    Okay.  So, as you may be aware, we have reached a staff-level agreement with Sri Lankan authorities on key economic policies, marking an important milestone toward concluding the Fourth Review of Sri Lanka’s reform program supported by the IMF’s Extended Fund Facility. 

    The staff-level agreement is contingent on two conditions.  First, the implementation of prior actions relating to restoring electricity cost-recovery pricing and ensuring proper function of the automatic electricity price adjustment mechanism.  And second, the usual completion of financing assurances review by multilateral and bilateral partners.  After successful implementation of these conditions and approval from the IMF Executive Board, Sri Lanka will unlock approximately USD $344 million in financing.  This funding will be crucial as the country navigates the recovery from economic challenges. 

    We are now halfway through the four-year EFF program, and I’m very pleased to stand before you today to share significant development regarding Sri Lanka’s economic journey.  The performance of the reform program has remained strong overall.  Economic growth is on the rebound.  We are seeing advancements in revenue mobilization, reserve accumulation is proceeding, and structural reforms continue, and some of them are well underway. 

    Very important to note also that debt restructuring is nearly complete and the government’s commitment to program objectives remains steadfast, and we got new assurances of this as recently as last week.  However, we must also acknowledge the significant downside risks posed by global trade policy uncertainty.  Should these risks materialize, we are prepared to work collaboratively with the authorities to assess their impact and formulate appropriate policy responses within the framework of the IMF-supported program.

    The country’s achievements under the ambitious reform agenda have been commendable.  The rebound in growth, for example, 5 percent year-on-year real growth in 2024, is a testament to the country’s resilience and determination and remarkable turnaround.  Furthermore, there has been significant improvement in the revenue performance, with revenue to the GDP climbing to 13.5 percent in 2024 from 8.2 percent in 2022.  Gross official reserves have also risen to $6.5 billion in end of March 2025, given the very good and strong FX purchases by the Central Bank of Sri Lanka.

    Now, as we move forward, it is essential that the government continues to prioritize sustained revenue mobilization efforts and prudent budget execution.  These measures are vital in preserving and continuing to build fiscal space and ensuring that there is room to respond to any shocks that may arise.  To that end, restoring cost-recovery electricity pricing is essential to minimize fiscal risks and enable appropriate electricity infrastructure and investments. 

    The tax exemption framework should be well designed to reduce fiscal costs and corruption risks while at the same time enabling necessary growth for the country.  Reforms to boost tax compliance are important to deliver revenue gains without resorting to additional tax measures. 

    We also recognize the critical responsibility of the government to protect the most vulnerable members of society during these uncertain times.  Improving the targeting adequacy of social safety nets will be a priority as they strive to provide support where it’s needed the most. 

    In conclusion, the sustained commitment of the government to the program objectives is commendable.  It ensures continuity and puts Sri Lanka on a path to continuing success and strong recovery.  We are determined to continue working with the authorities to safeguard their hard-won gains and pave the way forward towards robust and inclusive growth.  Thank you for your attention.  Martha and I look forward to your questions.  Thank you.  Pavis, back to you. 

    DEVAHASADIN: Thank you, Evan. We now move on to the Q&A section. But before we begin, I would like to say that for those who just joined, this session is being recorded.  Therefore, the transcript will be posted later, and otherwise we move on to the Q&A, and I just want to remind you to keep your questions short because we have a full house so we can give opportunity to other participants as well and stay on topic.  We can also follow up with you afterwards.  But please be mindful that we are discussing the SLA – the Fourth Review, today. 

    May I call — actually I saw your hand was up earlier, and then you put it down.  May I call you for the first question from Economy Next?

    QUESTIONER: Thank you.  Yes, my question is there has been some delay on the restructuring.  How concerned is the IMF on SOE restructuring?

    DEVAHASADIN: On the restructuring, debt restructuring, right?

    QUESTIONER: SOE.

    DEVAHASADIN: SOE.

    QUESTIONER: state-owned enterprise, yeah. 

    DEVAHASADIN: Okay. Anyone else on state-owned enterprise? And you can also just jump in.  I see some hands up, but I’m not sure if those participants are talking about — would like to talk about SOE, but otherwise we want to take questions on SOE first. 

    QUESTIONER: If I may add on the SOEs?  Just to add to that, specifically about Sri Lankan Airlines.  How concerned are you about Sri Lankan Airlines?  Because this is something that has been discussed for several years with a lot of other people as well as with the IMF.  Thank you. 

    DEVAHASADIN: Okay. Thank you so much.

    PAPAGEORGIOU: Yes, thank you. These are good questions. So let me start in general to make some points. 

    So under the program there has been, in general, commitment by the government from the beginning of the program until now to strengthen the governance of SOEs, to get to the bottom of their outstanding debt and resolving legacy debt that they — that’s out there — and implementing those that’s relevant to implementing cost recovery pricing to ensure that they remain financially viable.  These are all very important conditions because they will reduce fiscal risks to the government, to the states, and avoid that they become a burden for public finances, ultimately taxpayers, and all Sri Lankans. 

    So, within those commitments, it’s important to highlight a few that, under the program, these include also containing risks from the guarantees issued to SOEs.  For example, the EFF program includes indicative targets, which are setting ceilings on total and foreign currency treasury guarantees for SOEs.  Another condition is to refrain from new FX borrowing by non-financial state-owned enterprises that already have limited FX revenue so that we don’t introduce more wrong-way risk into these entities.  And also, another one, obviously very important one, is making SOEs more transparent.  You may be aware that we have been advocating and mandating to publishing audited financial statements for the 52 largest SOEs in a timely manner, and that will help bring more light and greater scrutiny. 

    It is also important to ensure that consumers of services of these SOEs receive the best value for the price they pay.  And obviously, that relates to a wider range of SOEs, including also the electricity and the fuel sector.  And this is the same thing as you would expect from a private company.  In other words, you would want SOEs run in the most efficient manner purely on commercial basis and ensuring that they are dependable and, of course, that they are free of corruption.  That is greater big disclosure, good disclosure to that extent. 

    There was a question on Sri Lankan Airlines.  So, we understand that the authorities are underway in preparing a medium-term strategic plan to restore Sri Lankan Airlines’ operational viability and to resolve its legacy debt.  We know that the current budget, the 2025 budget, has set aside 20 billion rupees to pay off some of the debt of the airline.  And we are also aware that Sri Lankan Airlines has also hired a financial advisor to restructure its international bond.  So, these are all steps in the right direction.  But we think these need to pick up pace and take up a little bit faster pace so we can have a good resolution of all these outstanding issues.  So, in general with SOEs, we think there is a way forward, and we want to see more progress there. 

    Thank you.  That was a good question.  Pavis, back to you. 

    DEVAHASADIN: Thank you, Evan. We have hands up.

    QUESTIONER: Thank you, Pavis, and thank you, Evan, for your presentation.  From News 1st here.  The conditions of the Fourth Review include implementing fire actions related to electricity cost-recovery pricing and ensuring that the automatic electricity price adjustment mechanism functions properly.  In your meetings with the government, do you see this realizing anytime soon?  Because according to the statement that was released earlier, it says that this condition is yet to be met.  Thank you. 

    PAPAGEORGIOU: Thank you. Thank you, I don’t know if — should we take another question? Maybe related to electricity to bunch them up a little bit? 

    DEVAHASADIN: Yep. Anyone else on electricity just come in please.

    QUESTIONER: What we expected the timeline to complete the required by actions such as electricity pricing and financing assurance for Board approval?

    QUESTIONER: I have also question on electricity.  Now, the current problem seems to have been coming from, because of a price cut by the regulator, which the utility didn’t ask for.  So, is there any attempt to give technical assistance or something so that the way the regulator calculates the profits or how they deal with the price proposal of the utility is improved so that this kind of thing doesn’t happen again?

    PAPAGEORGIOU: Thank you for the question. Let me first say that the issue of electricity is one where both the government and us see eye to eye, and there’s strong commitment in seeing these reforms take place because, as you know very well, electricity and dependability of electricity and the high price of electricity have been an issue for a very long time in Sri Lanka. So, government is committed to seeing, to taking the reforms and owning those reforms and making significant progress. 

    So yes, during the review mission discussions that we had in Colombo earlier in April, earlier this month, and here in Washington last week, we discussed many issues.  Our assessment is as early as back in February, when we went to the Board for our Third Review, our assessment of the time, and still is the same, is that the continuous structural benchmark on electricity cost recovery pricing is still not met.  And that means that the price of the tariff – it does not match, does not create enough of an ability for the utility, for the CEB, to be able to meet its costs, the generation costs, and transmission and distribution. 

    In addition to that, the automatic tariff adjustment mechanism based on the bulk supply transaction account, the BSTA, has not operated as we envisaged.  And the April tariff revision that was meant to take place in the second quarter of this year was not implemented.  So as a result of that, given the criticality of electricity cost recovery and under the program, we have proposed, IMF has proposed, the introduction of prior actions relating to restoring electricity cost-recovery pricing and ensuring proper function of the automatic electricity price adjustment mechanism, the BSTA, that I mentioned a few moments ago. 

    The implementation of these prior actions is an important milestone as a requisite, if you will, for the completion of the Fourth Review.  And in terms of the timing; there was a question — of course, we defer to the authorities and to the regulator, the PUCSL, on the exact timing for implementing these actions, these prior actions. But we urge them to do so as soon as possible so that the utility company, CEB, is not incurring financial losses on a forward-looking basis.  In other words, we should avoid, the authorities should avoid, a situation where debt is building up at the CEB, so that the utility company does not become again a significant contingent liability to the government and a burden to the taxpayer. so, it doesn’t become a fiscal drought. 

    I think this is well understood by the authorities.  It has been explained time and time again.  It’s a core pillar of the program that once it is resolved and properly held, it will help fiscal sustainability, and it will make electricity price generation more dependable.  And down the road this will allow for more stability, for more investment, and for the necessary steps to see electricity prices coming down. 

    Hopefully that answers your question, but I’m happy to follow up on anything else.  Thank you.  Pavis, back to you. 

    DEVAHASADIN: Thank you, Evan.

    QUESTIONER: I don’t think my question about whether you consider technical assistance to the regulator was answered.  I also have another question if you can answer. 

    PAPAGEORGIOU: Sure, sure. So yeah, thank you. There’s no technical assistance at the moment in terms of the electricity price generation or any other issues related to this.  In general, the energy policy and the policy for the energy sector, we think the pillars are — there should be a cost reflective energy pricing which is a building block of the program, and we think that within that there should be a greater stability, but it will allow for more reforms. 

    So now we know we understand that there are some proposed amendments to the Electricity Act that are underway, and these are expected to reflect the authority’s strategy to reform the electricity sector.  We understand also there is an intention to have unbundling of generation of transmission and distribution of power.  We obviously take note that there has been action and proposals for greater investment, including also for solar energy projects.  Again, we’re not advising exactly on these issues, but we look forward to seeing more. 

    Now, of course, on the strategy that should be supported by the key stakeholders.  I know that other multilateral, several development partners such as the World Bank and ADB are closely involved on electricity, and they are providing technical assistance to Sri Lanka. 

    So I think that goes to your point. Did you have another question as well? 

    QUESTIONER: Yes.  Regarding the — can you give us any idea about the timing of the review that might take place?  And also, when you said, policy responses that may be needed to meet the tariff problem, what kind of things were you thinking on?  Is it likely to jeopardize the targets and were you planning to give any waivers or what kind of policy responses?

    PAPAGEORGIOU: When you say tariffs do you mean not electricity tariffs, you mean export tariffs, right?

    QUESTIONER: No, no, sorry.  You said because of the tariff shock, from possible tariffs from the U.S. 

    PAPAGEORGIOU: Yes, that’s right.

    DEVAHASADIN: U.S. tariffs.

    QUESTIONER: Yeah.  So then that Sri Lanka might have to do some policy responses.  What kind of policy responses were you thinking?  And also, it jeopardizes the targets in the IMF performance criteria, will they be kind of given waivers? 

    PAPAGEORGIOU: Thank you.

    DEVAHASADIN: Before you begin, I would like to read this question. How do you see the impact U.S. labor tariff on Sri Lanka’s ability to secure and sustain the SLA with global partners?

    PAPAGEORGIOU: Yeah, great. Thank you; these are good questions. In terms of the timing, obviously things are still underway.  This is only a staff-level agreement, which means we have agreed on principle on many things of the underlying Fourth Review and conditions of the prior actions that I mentioned a few minutes ago.  I think there’s good momentum from the authorities’ and everybody else’s point of view in completing the review.  That takes a little while because we understand a lot of these issues are still being discussed and there is more work to be done, both from the authority side and from our side as well.  It’s a long process, as you probably know, in terms of us consulting and redrawing our numbers and our assumptions and having a great confidence in the direction of policy reforms and of the outlook and everything else.  I would say that it will take a little while, maybe a couple more months at least, in terms of finalizing the review.  So hopefully in two months’ time or so, by, let’s say, June, we should be able to have some more news for you on this front. 

    Now, on the issue of U.S. tariffs and how does it affect the country?  Obviously, as I mentioned, trade policy uncertainty is one of the issues that we have discussed quite extensively with the authorities on what could that mean for Sri Lanka’s economy and economic performance.  We know that, obviously, the authorities are committed to achieving program objectives and to see how the targets are being met.  They have also committed to addressing any sort of underperformance or deviation for program targets with remedial measures.  So, we think that we take this commitment very seriously, and we note their strong impetus for delivering on those. 

    Obviously, the global trade policy uncertainties, as I mentioned, is a significant risk.  All I can say at this point is that if these risks materialize, we will work with the authorities to assess the impact of those shocks, and we will support the country in formulating specific policy responses within the contours of the existing IMF program.  We have very frequent discussions with the authorities.  We were discussing, we were talking to them as recently as last Friday, as a few days ago.  We continue talking to them on a daily basis.  Martha talks to them on a constant basis.  And we continue conducting weekly monitoring meetings with the entire team, both here in Colombo as well, so that we can ensure that program performance remains on track. 

    This is all I can say for the moment, but it is very important to note also that the Sri Lankan authorities, the Sri Lankan government, have made great progress in establishing greater connection with bilateral trade partners, including the United States.  And we encourage more action and greater discussion in ensuring that there is a good outcome from these discussions and that the trade policy uncertainty gets resolved and there’s greater certainty. 

    DEVAHASADIN: Thank you. I just got the five minutes remaining warning. I would like to open the floor to anyone who hasn’t asked any questions.  Please feel free to jump in.  Otherwise, I’ll go back to the hand.  Anyone else who hasn’t asked any question?  Well, all right, I see one hand up.

    DEVAHASADIN: Thank you. We’ll come back to you.

    QUESTIONER: Thank you.  I just have a question.  It’s kind of a follow-up to Evan’s previous answer.  You talked about a very limited response that you can give talking about trade policy and the impact of the U.S. tariffs.  But you did say that Sri Lanka had expressed a sort of a commitment to work and work towards the targets it has agreed with the IMF.  But in the most recent weeks post those tariff announcements, targets, as much as you said that they have expressed a willingness to work within the framework – I think you said, within the contours of the agreement – has Sri Lanka expressed concerns about reaching those targets, particularly because these tariffs are believed broadly to have a potential impact on its export earnings?  Obviously, it’s foreign currency earnings and things like that.  So how much of a concern have you heard from the Sri Lankan authorities?  And what is the sort of leeway or the kind of flexibility that Sri Lanka would have within the agreement with the IMF?  I’m sure you have this with a lot of sort of your agreements, but, yeah, where Sri Lanka is concerned, how do you see it?  Thank you. 

    PAPAGEORGIOU: Thank you. That’s a good question. It follows through a little bit from my previous answer, as you said.  I don’t know, given that we don’t have much time, let me go ahead and answer this and maybe we can give five more minutes, Pavis, to other people to ask questions as well. 

    DEVAHASADIN: Sounds good.

    PAPAGEORGIOU: So, first of all, every review, now we’re on the Fourth Review, of the program is an opportunity to assess the economic developments, to review program targets, and to determine the reform agenda and the reform measures that the authorities plan for the period ahead. It just happened that in this review we have a significant trade policy shock. So, in these discussions, we’ve had an understanding of what are the concerns and what is the kind of shock.  And by the way, this is something that we also, as Fund staff, are trying to implement, to understand, to comprehend, and to put into our outlook. 

    So obviously, the 44 percent tariff on Sri Lanka that was announced on April 2nd would have a significant impact, and the authorities understand this very well.  The impact obviously will be on the apparel and rubber industries.  Obviously, as you know very well, these account for a very large share of the country’s exports to the United States.  I believe it’s almost three-quarters, or over 70 percent.  And also, the real sector implications of these are very important because these two sectors, apparel and rubber, employ a lot of workers, in Sri Lanka. Just the apparel industry alone is over 300,000 workers or 320,000 workers.  So, the 90-day pause that was announced has allowed the authorities to engage constructively with the United States.  And we take, take very positive note on this. 

    Now, within, in general, as I mentioned, the global trade policy uncertainty for any small open economy and definitely for Sri Lanka poses significant downside risks.  For these discussions, we understand, obviously, the issues that arise and how they should be baked into the program.  If there is any substantial risk that may pan out either on the back of tariffs or some other disruption, we will work with the authorities to incorporate them to assess their impact and put them into policy responses. 

    At this point, it will be a little premature of me to talk about specific issues, but we’ve had a lot of discussions, and we think that the authorities are doing the best they can to address these issues.  It’s important to also mention that here that any time is a good time for implementing more reforms for discussing greater options towards having more trade policy responses.  And we believe that Sri Lanka should continue exploring also additional ways in making its exports more marketable and appealing to a wider range of counterparts. 

    DEVAHASADIN: Thank you, Evan. I’ll give the final question. We are running out of time, but I think we have enough time for one last question.

    QUESTIONER: Thank you.  It’s about the tax revenues.  According to the 2025 budget, much of the tax revenue is expected from vehicle imports, and we have — from the dealers that of the vehicles have been imported in the last two months, about 75 percent have been sold.  Of course, even though 25 percent may not have been sold, still the government has got revenue for those because they have been cleared through customs. That is no issue, but it would probably have implications for future demand.  So, the market is sort of not as vibrant, as there doesn’t seem to be a huge pent-up demand.  How concerned are you that this one single item in the budget, which is sort of going to underpin tax revenue, may not materialize this year?  Thank you.  Thank you.

    PAPAGEORGIOU: So obviously the authorities have made significant progress on creating greater opportunities for revenue and for collecting more. You may very well know that the situation was far worse in terms of tax revenue, as I mentioned in my earlier remarks, as early as couple of years ago. So obviously there is definitely progress. On this year’s discussion,

    I think there is a lot of the progress; has been a positive one.  There has been greater progress towards ensuring more revenue that could be collected from a range of measures.  You mentioned very accurately that the lifting of the import ban on motor vehicles is a very, very important. I would say the primary measure underpinning the revenue package.  We saw that, also in the budget, it is expected to yield 1.2 percent of GDP in 2025.  And that’s about 80 percent of the 1.5 percent of GDP in all tax revenue.  So obviously, as you mentioned, this is very important to get right and to continue with the momentum. 

    We note from the latest data that we have monitoring and we’re getting is that there is actually a good momentum on those motor vehicle imports.  So as my latest data — I was trying to find them — from what I remember, there has been quite a lot of good increase in the letters of credit.  I believe it’s around USD $350 million that were open.  These are letters of credit that are attached to importing vehicles.  So, we think that the associated revenue that will be incurred from those imports is starting to come on pace, and that’s a very important and encouraging sign.  So, we look forward to seeing more. 

    Of course, I mentioned a moment ago as well that if there are signs that — that there is underperformance of revenues or if there is a revenue shortfall, we have discussed with the authorities, and they are committed to implementing contingency revenue measures, and this will go a long way in ensuring fiscal sustainability and greater revenue.  Thank you. 

    DEVAHASADIN: Thank you, Evan. Unfortunately, we’re at time. Before we close, Evan, do you have any parting words? 

    PAPAGEORGIOU: No, I thank you very much. I thank you all for being here. I look forward to continuing to engage with you, and Martha and I know that we have a great relationship with all of you and a frequent interaction.  We are happy to continue taking your questions.  We now are moving forward completing the Fourth Review in the next couple of months, so we will certainly communicate more as we get towards that goal.  We will also try to have another similar discussion and press conference at the end of that review if all goes well.  Let me just mention again that we are fully committed in supporting the economy and the Sri Lankan authorities, both in the current issues that they are facing and just more broadly on formulating the appropriate policy responses and the necessary form.  Thank you all very much for being here.  I wish I was in Colombo, but I look forward to seeing you again in the next few months.  Thank you. 

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

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

    MIL OSI Economics –

  • MIL-OSI NGOs: Week 6 of “Dirty Dems” campaign highlights failures of Bakersfield legislators

    Source: Greenpeace Statement –

    BAKERSFIELD, CA (April 29, 2025)—As part of the ongoing “Dirty Dems” campaign, Greenpeace USA, in collaboration with the California Working Families Party and Courage California, continues to hold California State legislators accountable for their damaging connections to the oil and gas industry and their failure to support critical climate, economic justice, and progressive priorities.

    This week, the spotlight falls on Bakersfield – and two legislators who have continuously received failing grades from every major environmental and progressive scorecard across the state. Assemblymember Jasmeet Bains, who has accepted $54,000 from the oil and gas industry in just the last session alone, and Senator Melissa Hurtado, who has accepted $79,500 herself since 2018, have made a name for themselves through supporting corporate polluters instead of fighting for their communities. 

    Amy Moas, Ph.D., Greenpeace USA Senior Climate Campaigner, said: “Assemblymember Bains’s and Senator Hurtado’s behavior accepting dirty money, and then voting against policies that would have made their communities healthier and more resilient, is inexcusable. Bakersfield and its surrounding communities deserve elected leaders who are fighting for everyday, working families – not delaying protections that would keep people safe.”

    Assemblymember Jasmeet Bains – “Big Oil Bains” 

    Though Assemblymember Bains has only been in office for two full legislative sessions – and though she represents communities bearing the brunt of the toxic oil industry – she has repeatedly chosen not to protect the very people she was elected to represent. Assembly Member Bains was the only Democrat to choose corporate profits over protecting her constituents when she voted against a bill aimed at ensuring oil companies are not ripping off Californians in order to rake in historic profits (SBX1-2). During the same session, she also did the oil industry’s bidding by introducing a bill requiring an increase in toxic oil production in the state. 

    Some additional low points of Assembly Member Bains’ time in office include voting no on programs to lower air pollution and smog (AB 126) and skipping voting on a bill to monitor noxious pollutants in neighborhoods that have been linked to asthma and cancer (SB 674).  She also skipped a vote to mandate California speed up the plugging of the thousands of leaking idle wells throughout the state (AB 1866), as well as on a bill to incentivize the clean up of the low producing oil wells polluting the largest urban oil field in the country (AB 2716). Assembly Member Bains does not just vote down and skip votes on public health and environmental issues, however; she also skipped voting on a bill to improve the working conditions for janitorial labor in California (AB 2364). 

    Senator Melissa Hurtado

    Senator Hurtado’s contributions from Chevron, the California Independent Petroleum Association (CIPA), and one of California’s largest oil refiners, PBF Energy, show in her voting record. While it is common in the California Legislature for legislators to skip votes in order to avoid taking a stand on difficult bills, Senator Hurtado has one of the most up front and brazen records with her actual voting down numerous environmental justice and public health bills for the purpose of protecting the profits of her corporate donors. 

    Senator Hurtado’s time in office includes a series of low points. First, she voted no on one of the largest environmental justice priorities for more than a decade aimed at reducing pollution from oil drilling in neighborhoods (SB 1137), and voted no on multiple bills aimed at cleaning up toxic idle oil wells and ensuring taxpayers are not stuck with the bill (AB 1866 and AB 1167) – despite her district having more than 11,000 idle wells. Additionally, she voted against a bill to incentivize the cleanup of low producing wells in the largest urban oil field (AB 2716), and another to strengthen the enforcement measures for oil and gas regulations (AB 631). 

    Senator Hurtado has also pushed back against workers’ rights. She skipped voting on a number of other progressive priorities including a major labor priority bill in 2022 aimed at establishing a council to shape minimum wage and working conditions for fast food workers (AB 257), as well as a bill to end employment discrimination by outlawing forced arbitration agreements (AB 51). 

    Holding the Bakersfield Legislators Accountable

    Assemblymember Jasmeet Bains and Senator Melissa Hurtado are the eighth and ninth Dirty Dems to be named. They join a growing list of California’s elected officials who have repeatedly chosen to prioritize corporate donations over the well-being of their constituents. 

    Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

    MIL OSI NGO –

  • MIL-OSI USA: Gillibrand, Cotton, Nadler, Bacon Introduce Bipartisan, Bicameral Legislation To Protect Organ Donors

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand

    Today, U.S. Senators Kirsten Gillibrand (D-NY) and Tom Cotton (R-AR) introduced legislation to protect the rights of living organ donors. The Living Donor Protection Act would ensure living donors do not face discrimination from insurance companies, codify Department of Labor (DOL) guidance that covers living donors under the Family Medical Leave Act (FMLA) in the private and civil service, remove barriers to organ donation, and provide certainty to donors and recipients. Representatives Jerrold Nadler (D-NY) and Don Bacon (R-NE) lead this legislation in the House of Representatives.

    Currently, there are roughly 8,000 New Yorkers on the national transplant waiting list, with approximately 7,000 waiting for a kidney.In NYS, the average wait time for a kidney transplant is about five to six years, and during that time, many patients become too sick to receive a transplant or die. Nearly 500 New Yorkers die each year waiting for an organ transplant. Receiving an organ from a living donor can shorten this wait time and ultimately allow the best chance for long-term success. Unfortunately, studies have found that up to one in four living donors report discrimination in the rates and provision of life insurance and disability insurance, and they can struggle to receive time off from work to complete their donation and recovery. Reducing barriers to living organ donation and educating potential donors on the protections provided to them under law will help to promote living organ donation and save the lives of those waiting for a transplant.

    “It’s a tragedy that so many people die while waiting for life-saving organ donations. We must do more to remove the barriers that keep Americans from donating,” said Senator Gillibrand. “The Living Donor Protection Act would help ensure that the individuals who are willing to save someone’s life through an organ donation can do so without worrying that they’ll face insurance discrimination or that they could lose their job as they recover. I am proud to be introducing this bipartisan legislation and will keep fighting to finally get it passed.” 

    “Organ donors make an extraordinary sacrifice so someone else can have a new chance at life,” said Senator Cotton. “The Living Donor Protection Act would encourage more donors to step forward by protecting them from adverse consequences like denial of coverage and job loss.”

    “When an organ donor decides to donate one of their organs to someone else, they aren’t just saving someone’s life—they’re making one of the most selfless, difficult decisions anyone could ever make. The last thing they need in the midst of that challenging process is to be confronted by needless roadblocks or insurance discrimination,” said Representative Nadler. “These roadblocks can make it economically impossible for potential donors to make that choice and, simply put, they are costing lives. April is National Donate Life Month, and I’m proud to introduce the Living Donor Protection Act to bring awareness to this issue and knock down these needless barriers to lifesaving organ donation.”

    “Our state is fortunate to have Nebraska Medicine, which has a robust living donor kidney exchange program, performing more kidney chains which involves anonymous donors donating to someone without a compatible living donor, than almost any hospital nationwide. However, some living donors are discriminated against when it comes to rates and provision of life insurance and disability insurance,” said Representative Bacon. “They also don’t always receive adequate time to recover from the surgeries related to their selfless gift. This legislation will help open the doors to more living donors so we can save more lives.”

    The Living Donor Protection Act would protect living organ donors and promote organ donation by: 

    1) Prohibiting life, disability, and long-term care insurance companies from denying or limiting coverage and from charging higher premiums for living organ donors; 

    2) Amending the Family and Medical Leave Act of 1993 to specifically include living organ donation as a serious health condition for private and civil service employees; and 

    3) Directing the U.S. Department of Health and Human Services (HHS) to update its materials on live organ donation to reflect these new protections and encourage more individuals to consider donating an organ.

    The Living Donor Protection Act is cosponsored bySenators Cindy Hyde-Smith (R-MS), Ben Ray Luján (D-NM), Shelley Moore Capito (R-WV), Angus King (I-ME), Richard Blumenthal (D-CT), Tim Kaine (D-VA), Amy Klobuchar (D-MN), Jeff Merkley (D-OR), Sheldon Whitehouse (D-RI), Chris Coons (D-DE), Marsha Blackburn (R-TN), Pete Ricketts (R-NE), Thom Tillis (R-NC), Dick Durbin (D-IL), Jeanne Shaheen (D-NH), Tina Smith (D-MN), Ron Wyden (D-OR), and Mark Kelly (D-AZ).

    The Living Donor Protection Act is endorsed by Alport Syndrome Foundation, American Association of Kidney Patients, American Council of Life Insurers, American Heart Association, American Kidney Fund, American Liver Foundation, American Nephrology Nurses Association, American Society of Nephrology, American Society of Pediatric Nephrology, American Society of Transplant Surgeons, American Society of Transplantation, Dialysis Patient Citizens, Global Liver Institute, IGA Nephropathy Foundation, International Society of Glomerular Disease, Kidney Transplant Collaborative, National Kidney Foundation, the Nonprofit Kidney Care Alliance (NKCA), North American Transplant Coordinators Organization, Northwest Kidney Centers, the PKD Foundation, the Rogosin Institute, Sanofi, the United Network for Organ Sharing (UNOS), Transplant Recipients International Organization (TRIO), and Renal Physicians Association.

    “The selfless individuals who give the gift of life by donating a kidney should not face discrimination by life, long-term care, or disability insurers,” said LaVarne Burton, President and CEO of the American Kidney Fund. “This legislation would be a significant step in efforts to encourage more living donors and reduce the kidney transplant waiting list by providing the protections that living donors should receive for their lifesaving actions.”

    “The Living Donor Protection Act is a critical step forward in protecting those who make the selfless choice to save lives through organ donation,” said Kevin Longino, CEO of the National Kidney Foundation and a transplant recipient. “By removing barriers and ensuring donors don’t face discrimination, we can help address the national organ shortage crisis and save more lives. I thank Senators Cotton and Gillibrand, and Representatives Bacon and Nadler, for their leadership, and I strongly urge Congress to pass this vital legislation this year.”

    “With nearly 9,300 people in the U.S. waiting for a liver transplant right now, the need for living donors is great. Approximately 25% of people on the liver transplant list will die waiting due to lack of available organs. The Living Donor Protection Act is critical to helping level the playing field for living organ donors, ensuring that they are not discriminated against in obtaining life, disability or long-term care insurance and have job protections for medical leave after donation. We are so grateful to Senators Cotton and Gillibrand and Representatives Bacon and Nadler for stepping up for living organ donors and patients throughout the country,” said Lorraine Stiehl, CEO, American Liver Foundation and caregiver to a transplant patient.

    “ASN commends the re-introduction of the Living Donor Protection Act, critical legislation which will remove barriers that discourage living donors from providing the life-saving gift of a kidney transplant,” said ASN President Prabir Roy-Chaudhury, MD, PhD, FASN. “Americans who are considering becoming living donors deserve more support than the current system provides for them, and ASN believes the Living Donor Protection Act is a critical step to achieve this goal.”

    “As a pioneer in transplantation since performing New York State’s first living donor kidney transplant in 1963, The Rogosin Institute believes that kidney transplantation is the ideal treatment for patients with end-stage kidney disease,” said the Rogosin Institute. “We are proud to wholeheartedly endorse the Living Donor Protection Act removing barriers to donation such as insurance uncertainty and financial insecurity. Rogosin extends our thanks to the bipartisan members of Congress supporting this critical legislation. We thank Senators Gillibrand and Cotton and Congressmen Bacon and Nadler for championing the Living Donor Protection Act.”

    “As nonprofit dialysis providers, kidney transplant is an ideal outcome for many of our patients and legislation to protect and support living donors is critical to our patient-centered mission,” said Monica Massaro, Executive Director of NKCA.

    “Living organ donors save people’s lives and should be able to give the gift of life without fear of insurance discrimination or financial retribution, especially as they recover from surgery. The Living Donor Protection Act rightfully protects these selfless individuals from this,” said Maureen McBride, Ph.D., CEO of the United Network for Organ Sharing. “Thank you, Sens. Cotton and Gillibrand and Reps. Bacon and Nadler for your bipartisan leadership and for standing up for living organ donors.”

    “On behalf of the American Society of Transplantation (AST), representing a majority of the nation’s transplant professionals, our Society strongly applauds and endorses the re-introduction of the Living Donor Protection Act (LDPA),” said Dr. Jon Kobashigawa, President, American Society of Transplantation (AST). “AST is grateful for the ongoing and steadfast leadership of Senators Cotton, Gillibrand and Representatives Bacon and Nadler to protect transplant patients and strengthen living donation.  The LDPA is a patient-focused bill seeking to remove policy barriers that might otherwise prevent an individual from providing a lifesaving donor organ.  AST greatly appreciates this bipartisan, bicameral, and patient centric legislation. We look forward to working with you to advance the LDPA in this 119th Congress.”

    “Life insurers support helping more people access financial protection for themselves and their families,” said American Council of Life Insurers President and CEO David Chavern. “The Living Donor Protection Act lets organ donors access life, disability, or long-term care coverage while recognizing fair underwriting practices. It’s an important initiative that will protect those who save lives through organ donations.”

    “On behalf of all kidney patients, organ donors and American taxpayers, the American Association of Kidney Patients salutes U.S. Senators Tom Cotton and Kirsten Gillibrand and U.S. Representatives Don Bacon and Jerrold Nadler for introducing the bipartisan Living Donor Protection Act so that living organ donors will no longer face the Hobbesian choice of saving an innocent human life at the risk of losing insurance coverages that provide economic security and peace of mind to their families and loved ones. The time is now for America to transcend high-cost, high-mortality dialysis care as the default solution for people living with kidney failure and to encourage greater living organ donation and greater transplant opportunities for all Americans in need of a life-saving organ,” said Edward V. Hickey, III, President of the American Association of Kidney Patients.

    MIL OSI USA News –

  • MIL-OSI USA: SCHUMER, GILLIBRAND, MANNION SLAM RUMORED ‘DOGE’ CUTS TO DFAS ROME WORKFORCE, DEMAND DEPARTMENT OF DEFENSE IMMEDIATELY REVERSE COURSE & PROTECT THE MOHAWK VALLEY WORKERS VITAL TO AMERICA’S MILITARY…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Nearly 100 Full-Time DFAS Rome Workers Have Already Left Amid ‘DOGE’ Chaos, And ‘DOGE’ Has Already Targeted Nearly 100 Probationary Workers To Be Fired, Which Is Currently Under Litigation  – In Total, This Would Slash DFAS Rome Workforce By Over 20%, With More Rumored Cuts Still On Horizon

    DFAS Rome’s Civilian Workforce Manages All Financial Services for Military Operations, Providing Defense Department And Our Troops With Mission-Critical Accounting Services, Logistical Support, And More

    Schumer, Gillibrand, Mannion: Protecting DFAS Rome Is Essential To Supporting Our Brave Warfighters And Their Families

    Amid ‘DOGE’ chaos and cuts impacting hundreds of workers at DFAS Rome, U.S. Senator Chuck Schumer, U.S. Senator Kirsten Gillibrand, and U.S. Congressman John Mannion urged the U.S. Department of Defense to preserve the civilian workforce at DFAS Rome, as they are vital to supporting the DOD and the brave men and women of our armed forces, including warfighters.

    Schumer said that, “’DOGE’ needs to get their hands off DFAS Rome. The world-class workers at DFAS Rome support America’s Armed Forces, and protecting the DFAS Rome workforce is vital to protecting our national security, our troops and the Mohawk Valley economy.”

    “‘DOGE’s shoot-first-and-ask-questions-later approach to DFAS Rome’s workforce will undermine their ability to effectively execute its vital mission in support of our Armed Forces and the DOD. DFAS in Rome is not only vital to the Department of Defense but also to the City of Rome and Mohawk Valley’s economy. This proposal would hurt every level of our Armed Forces, undermine America’s national security, and hurt the Mohawk Valley community,” said Senator Schumer. “I am all for cutting out inefficiency, but you use a scalpel, not a chainsaw. You don’t fire hardworking Americans, like those at DFAS, who have dedicated their careers to supporting our military servicemembers, families, and all DoD operations. The civilian workforce of DFAS Rome is not ‘government waste’ – they are what makes America great. That’s why I’m demanding the Department of Defense oppose and immediately reverse any plans to reduce DFAS Rome’s civilian workforce.”

    “DFAS employees in Rome and across the country provide mission-critical support to every level of our armed forces,” said Senator Gillibrand. “Firing these workers will jeopardize our national security, harm Rome’s economy, and make it more difficult for servicemembers, veterans, retirees, and military families to resolve payroll issues and get the health and retirement benefits they’ve earned. I’m urging the Department of Defense to immediately reverse its plans to cut DFAS employees, and I will stand steadfast in my commitment to protect these crucial workers.”

    Representative John W. Mannion said, “DFAS was created to bring consistency and accountability to the Department of Defense’s financial operations—critical principles it continues to uphold every day in service to our warfighters, their families, and American taxpayers. Workforce reductions at DFAS Rome undermine this mission and threaten jobs that are vital to the Mohawk Valley economy. These cuts are unnecessary and contradict our shared commitment to a responsive, effective, and fully supported Department of Defense.”

    DFAS / AFGE President Edward Abounader said, “For over 20 years Senator Schumer has been a staunch advocate for DFAS Rome and its employees, and we deeply appreciate his continued support alongside Senator Gillibrand and Congressman Mannion. With our workforce already down hundreds of employees and additional cuts on the horizon, it’s time for all of us to come together and fight to protect DFAS Rome before it’s too late. On behalf of the hard-working employees at DFAS Rome and DFAS locations across the country, I would like to thank our Senator Schumer, Senator Gillibrand and Congressman Mannion for standing up for the critical work we do to assist our Nations Warfighters through diligent fiscal oversight as the premier Government Working Capital Fund for the Department of Defense.”

    According to local representatives tied to DFAS Rome, ‘DOGE’ is actively attempting to cut around 100 full-time DFAS Rome workers because of their probationary status, but those workers are currently still on the jobs because of pending litigation. Since ‘DOGE’ has begun their plans to cut the federal workforce, 60 people at DFAS Rome have taken the ‘fork in the road’ offer for early retirement, while an approximately additional 40 have resigned since February amid fear of the impact ‘DOGE’ would have on their jobs. DFAS Rome is currently unable to replace any of this lost workforce because of the ongoing federal hiring freeze, and according to local representatives tied to DFAS Rome given the ongoing ‘DOGE’ chaos they expect to lose more workers to resignations and retirements.

    Even worse, there is also concerns of rumored even deeper cuts under consideration, as well as an attack on the DFAS union’s Master Collective Bargaining Agreement, which could put hundreds of additional workers at risk and create an existential threat to the future of DFAS Rome.

    The lawmakers in a letter to the U.S. Department of Defense explained these firings and inability to hire new workers would cripple a significant portion of DFAS Rome’s 1,100+ workforce, most of whom are civilians. DFAS Rome’s civilian workforce provides mission-critical financial services and logistical support to our Armed Forces and every element of DoD operations, from facilities sustainment and foreign military sales (FMS) to forward deployment. The lawmakers explained that DFAS Rome provides support services directly to servicemembers and their families, such as payroll, benefits enrollment, and reimbursement for travel related to deployment or Permanent Change of Station (PCS) for active duty servicemembers.

    The lawmakers added that the first round of cuts carried out by DOGE and DoD earlier this year has already set several of DFAS Rome’s operational cells responsible for providing these support functions—including the call center and travel section—on a trajectory towards mission failure. The impacts of these cuts will inevitably impose additional burdens and stress factors on our military servicemembers and their families that are otherwise avoidable, and will ultimately degrade readiness, recruitment, and retention among our Armed Forces.

    Schumer and Gillibrand have a long history of fighting to preserve jobs at Rome’s DFAS. Last year, the senators helped protect hundreds of DFAS employees in Rome from job displacement caused by automation and “rapid deployment” of bots. In 2020, the senators secured language in the FY2021 NDAA increasing Congressional oversight over DFAS personnel changes and adding additional protection for DFAS employees by requiring DoD to justify that proposed changes would yield significant cost savings before transitioning any functions that would result in the reduction or transfer of DFAS employees. In 2018, the senators went to bat for DFAS in the Senate, successfully ensuring that the Senate NDAA did not contain the 25% cut to agencies that employ civilian workers the House version did. In doing so, the Senators saved approximately 200 DFAS jobs. In 2017, after years of advocacy, the senators announced that a US Army pilot program jeopardizing over 1000 DFAS Rome jobs had concluded and there would be no changes or layoffs. Those advocacy efforts included FY2015 NDAA language requiring the Army Secretary to certify benefit prior to transferring functions away from DFAS, a personal call from Schumer to Army Secretary John McHugh, and a joint letter with Senator Gillibrand to Secretary McHugh.

    The Defense Finance and Accounting Service was created in 1991 to standardize and improve accounting and financial operations for DoD. They provide payroll services for DoD military and civilian personnel, retirees and other major contractors and vendors. DFAS operates as a separate and unique entity in DoD, to ensure transparency and accountability on behalf of DoD financing and accounting.

    Schumer, Gillibrand, and Mannion’s letter to U.S. Department of Defense Secretary Hegseth can be found HERE.

    MIL OSI USA News –

  • MIL-OSI Russia: Press Briefing Transcript: Staff Level Agreement on the Fourth Review of the Sri Lanka’s Reform Program Supported by the IMF’s Extended Fund Facility Arrangement

    Source: IMF – News in Russian

    April 29, 2025

    PARTICIPANTS: 

    EVAN PAPAGEORGIOU, Mission Chief for Sri Lanka, IMF

    PAVIS DEVAHASADIN, Communications Officer, IMF

    MARTHA TESFAYE WOLDEMICHAEL, Resident Representative in Sri Lanka, IMF

    *  *  *  *  * 

    DEVAHASADIN: I welcome you to the press conference on Sri Lanka, the Staff-Level Agreement of the Fourth Review of the economic program support by the EFF.  Today we have here Mr. Evan Papageorgiou, IMF Mission Chief for Sri Lanka.  He’s joined by Martha Woldemichael, IMF Representative in Sri Lanka. 

    Again, this is on the record.  The transcript will be available later.  We have a lot of people here, so we’re just going to start with Mr. Evan giving the brief remarks and then we move on to the Q&A session.  All right, Evan, over to you on the remarks.

    PAPAGEORGIOU: Yeah, thank you. Thank you, Pavis. Thank you also to Martha for being here.  And hello, everybody.  Good evening to those of you in Sri Lanka and good morning to the few folks here in Washington.  I thank you all for being here today.  I would have preferred to be with you in Colombo, but unfortunately this is not feasible this time.  We will have to talk through a screen. 

    By way of short introduction, as you heard, my name is Evan Papageorgiou.  I am the new Mission Chief for Sri Lanka for the IMF.  And some of you may know already that there has been a change in Mission Chief with this review, which is part of a routine rotation of people in the team.  I look forward to seeing some of you again.  I already had a chance to meet you a few weeks ago, or otherwise to meeting you all next time we’re in the country.  We had the opportunity to be in the country.  I led a team of economists visiting Colombo earlier this month, where we had productive discussions with the authorities.  These discussions continued here last week here in Washington, D.C., on the occasion of our Spring Meetings. 

    Okay.  So, as you may be aware, we have reached a staff-level agreement with Sri Lankan authorities on key economic policies, marking an important milestone toward concluding the Fourth Review of Sri Lanka’s reform program supported by the IMF’s Extended Fund Facility. 

    The staff-level agreement is contingent on two conditions.  First, the implementation of prior actions relating to restoring electricity cost-recovery pricing and ensuring proper function of the automatic electricity price adjustment mechanism.  And second, the usual completion of financing assurances review by multilateral and bilateral partners.  After successful implementation of these conditions and approval from the IMF Executive Board, Sri Lanka will unlock approximately USD $344 million in financing.  This funding will be crucial as the country navigates the recovery from economic challenges. 

    We are now halfway through the four-year EFF program, and I’m very pleased to stand before you today to share significant development regarding Sri Lanka’s economic journey.  The performance of the reform program has remained strong overall.  Economic growth is on the rebound.  We are seeing advancements in revenue mobilization, reserve accumulation is proceeding, and structural reforms continue, and some of them are well underway. 

    Very important to note also that debt restructuring is nearly complete and the government’s commitment to program objectives remains steadfast, and we got new assurances of this as recently as last week.  However, we must also acknowledge the significant downside risks posed by global trade policy uncertainty.  Should these risks materialize, we are prepared to work collaboratively with the authorities to assess their impact and formulate appropriate policy responses within the framework of the IMF-supported program.

    The country’s achievements under the ambitious reform agenda have been commendable.  The rebound in growth, for example, 5 percent year-on-year real growth in 2024, is a testament to the country’s resilience and determination and remarkable turnaround.  Furthermore, there has been significant improvement in the revenue performance, with revenue to the GDP climbing to 13.5 percent in 2024 from 8.2 percent in 2022.  Gross official reserves have also risen to $6.5 billion in end of March 2025, given the very good and strong FX purchases by the Central Bank of Sri Lanka.

    Now, as we move forward, it is essential that the government continues to prioritize sustained revenue mobilization efforts and prudent budget execution.  These measures are vital in preserving and continuing to build fiscal space and ensuring that there is room to respond to any shocks that may arise.  To that end, restoring cost-recovery electricity pricing is essential to minimize fiscal risks and enable appropriate electricity infrastructure and investments. 

    The tax exemption framework should be well designed to reduce fiscal costs and corruption risks while at the same time enabling necessary growth for the country.  Reforms to boost tax compliance are important to deliver revenue gains without resorting to additional tax measures. 

    We also recognize the critical responsibility of the government to protect the most vulnerable members of society during these uncertain times.  Improving the targeting adequacy of social safety nets will be a priority as they strive to provide support where it’s needed the most. 

    In conclusion, the sustained commitment of the government to the program objectives is commendable.  It ensures continuity and puts Sri Lanka on a path to continuing success and strong recovery.  We are determined to continue working with the authorities to safeguard their hard-won gains and pave the way forward towards robust and inclusive growth.  Thank you for your attention.  Martha and I look forward to your questions.  Thank you.  Pavis, back to you. 

    DEVAHASADIN: Thank you, Evan. We now move on to the Q&A section. But before we begin, I would like to say that for those who just joined, this session is being recorded.  Therefore, the transcript will be posted later, and otherwise we move on to the Q&A, and I just want to remind you to keep your questions short because we have a full house so we can give opportunity to other participants as well and stay on topic.  We can also follow up with you afterwards.  But please be mindful that we are discussing the SLA – the Fourth Review, today. 

    May I call — actually I saw your hand was up earlier, and then you put it down.  May I call you for the first question from Economy Next?

    QUESTIONER: Thank you.  Yes, my question is there has been some delay on the restructuring.  How concerned is the IMF on SOE restructuring?

    DEVAHASADIN: On the restructuring, debt restructuring, right?

    QUESTIONER: SOE.

    DEVAHASADIN: SOE.

    QUESTIONER: state-owned enterprise, yeah. 

    DEVAHASADIN: Okay. Anyone else on state-owned enterprise? And you can also just jump in.  I see some hands up, but I’m not sure if those participants are talking about — would like to talk about SOE, but otherwise we want to take questions on SOE first. 

    QUESTIONER: If I may add on the SOEs?  Just to add to that, specifically about Sri Lankan Airlines.  How concerned are you about Sri Lankan Airlines?  Because this is something that has been discussed for several years with a lot of other people as well as with the IMF.  Thank you. 

    DEVAHASADIN: Okay. Thank you so much.

    PAPAGEORGIOU: Yes, thank you. These are good questions. So let me start in general to make some points. 

    So under the program there has been, in general, commitment by the government from the beginning of the program until now to strengthen the governance of SOEs, to get to the bottom of their outstanding debt and resolving legacy debt that they — that’s out there — and implementing those that’s relevant to implementing cost recovery pricing to ensure that they remain financially viable.  These are all very important conditions because they will reduce fiscal risks to the government, to the states, and avoid that they become a burden for public finances, ultimately taxpayers, and all Sri Lankans. 

    So, within those commitments, it’s important to highlight a few that, under the program, these include also containing risks from the guarantees issued to SOEs.  For example, the EFF program includes indicative targets, which are setting ceilings on total and foreign currency treasury guarantees for SOEs.  Another condition is to refrain from new FX borrowing by non-financial state-owned enterprises that already have limited FX revenue so that we don’t introduce more wrong-way risk into these entities.  And also, another one, obviously very important one, is making SOEs more transparent.  You may be aware that we have been advocating and mandating to publishing audited financial statements for the 52 largest SOEs in a timely manner, and that will help bring more light and greater scrutiny. 

    It is also important to ensure that consumers of services of these SOEs receive the best value for the price they pay.  And obviously, that relates to a wider range of SOEs, including also the electricity and the fuel sector.  And this is the same thing as you would expect from a private company.  In other words, you would want SOEs run in the most efficient manner purely on commercial basis and ensuring that they are dependable and, of course, that they are free of corruption.  That is greater big disclosure, good disclosure to that extent. 

    There was a question on Sri Lankan Airlines.  So, we understand that the authorities are underway in preparing a medium-term strategic plan to restore Sri Lankan Airlines’ operational viability and to resolve its legacy debt.  We know that the current budget, the 2025 budget, has set aside 20 billion rupees to pay off some of the debt of the airline.  And we are also aware that Sri Lankan Airlines has also hired a financial advisor to restructure its international bond.  So, these are all steps in the right direction.  But we think these need to pick up pace and take up a little bit faster pace so we can have a good resolution of all these outstanding issues.  So, in general with SOEs, we think there is a way forward, and we want to see more progress there. 

    Thank you.  That was a good question.  Pavis, back to you. 

    DEVAHASADIN: Thank you, Evan. We have hands up.

    QUESTIONER: Thank you, Pavis, and thank you, Evan, for your presentation.  From News 1st here.  The conditions of the Fourth Review include implementing fire actions related to electricity cost-recovery pricing and ensuring that the automatic electricity price adjustment mechanism functions properly.  In your meetings with the government, do you see this realizing anytime soon?  Because according to the statement that was released earlier, it says that this condition is yet to be met.  Thank you. 

    PAPAGEORGIOU: Thank you. Thank you, I don’t know if — should we take another question? Maybe related to electricity to bunch them up a little bit? 

    DEVAHASADIN: Yep. Anyone else on electricity just come in please.

    QUESTIONER: What we expected the timeline to complete the required by actions such as electricity pricing and financing assurance for Board approval?

    QUESTIONER: I have also question on electricity.  Now, the current problem seems to have been coming from, because of a price cut by the regulator, which the utility didn’t ask for.  So, is there any attempt to give technical assistance or something so that the way the regulator calculates the profits or how they deal with the price proposal of the utility is improved so that this kind of thing doesn’t happen again?

    PAPAGEORGIOU: Thank you for the question. Let me first say that the issue of electricity is one where both the government and us see eye to eye, and there’s strong commitment in seeing these reforms take place because, as you know very well, electricity and dependability of electricity and the high price of electricity have been an issue for a very long time in Sri Lanka. So, government is committed to seeing, to taking the reforms and owning those reforms and making significant progress. 

    So yes, during the review mission discussions that we had in Colombo earlier in April, earlier this month, and here in Washington last week, we discussed many issues.  Our assessment is as early as back in February, when we went to the Board for our Third Review, our assessment of the time, and still is the same, is that the continuous structural benchmark on electricity cost recovery pricing is still not met.  And that means that the price of the tariff – it does not match, does not create enough of an ability for the utility, for the CEB, to be able to meet its costs, the generation costs, and transmission and distribution. 

    In addition to that, the automatic tariff adjustment mechanism based on the bulk supply transaction account, the BSTA, has not operated as we envisaged.  And the April tariff revision that was meant to take place in the second quarter of this year was not implemented.  So as a result of that, given the criticality of electricity cost recovery and under the program, we have proposed, IMF has proposed, the introduction of prior actions relating to restoring electricity cost-recovery pricing and ensuring proper function of the automatic electricity price adjustment mechanism, the BSTA, that I mentioned a few moments ago. 

    The implementation of these prior actions is an important milestone as a requisite, if you will, for the completion of the Fourth Review.  And in terms of the timing; there was a question — of course, we defer to the authorities and to the regulator, the PUCSL, on the exact timing for implementing these actions, these prior actions. But we urge them to do so as soon as possible so that the utility company, CEB, is not incurring financial losses on a forward-looking basis.  In other words, we should avoid, the authorities should avoid, a situation where debt is building up at the CEB, so that the utility company does not become again a significant contingent liability to the government and a burden to the taxpayer. so, it doesn’t become a fiscal drought. 

    I think this is well understood by the authorities.  It has been explained time and time again.  It’s a core pillar of the program that once it is resolved and properly held, it will help fiscal sustainability, and it will make electricity price generation more dependable.  And down the road this will allow for more stability, for more investment, and for the necessary steps to see electricity prices coming down. 

    Hopefully that answers your question, but I’m happy to follow up on anything else.  Thank you.  Pavis, back to you. 

    DEVAHASADIN: Thank you, Evan.

    QUESTIONER: I don’t think my question about whether you consider technical assistance to the regulator was answered.  I also have another question if you can answer. 

    PAPAGEORGIOU: Sure, sure. So yeah, thank you. There’s no technical assistance at the moment in terms of the electricity price generation or any other issues related to this.  In general, the energy policy and the policy for the energy sector, we think the pillars are — there should be a cost reflective energy pricing which is a building block of the program, and we think that within that there should be a greater stability, but it will allow for more reforms. 

    So now we know we understand that there are some proposed amendments to the Electricity Act that are underway, and these are expected to reflect the authority’s strategy to reform the electricity sector.  We understand also there is an intention to have unbundling of generation of transmission and distribution of power.  We obviously take note that there has been action and proposals for greater investment, including also for solar energy projects.  Again, we’re not advising exactly on these issues, but we look forward to seeing more. 

    Now, of course, on the strategy that should be supported by the key stakeholders.  I know that other multilateral, several development partners such as the World Bank and ADB are closely involved on electricity, and they are providing technical assistance to Sri Lanka. 

    So I think that goes to your point. Did you have another question as well? 

    QUESTIONER: Yes.  Regarding the — can you give us any idea about the timing of the review that might take place?  And also, when you said, policy responses that may be needed to meet the tariff problem, what kind of things were you thinking on?  Is it likely to jeopardize the targets and were you planning to give any waivers or what kind of policy responses?

    PAPAGEORGIOU: When you say tariffs do you mean not electricity tariffs, you mean export tariffs, right?

    QUESTIONER: No, no, sorry.  You said because of the tariff shock, from possible tariffs from the U.S. 

    PAPAGEORGIOU: Yes, that’s right.

    DEVAHASADIN: U.S. tariffs.

    QUESTIONER: Yeah.  So then that Sri Lanka might have to do some policy responses.  What kind of policy responses were you thinking?  And also, it jeopardizes the targets in the IMF performance criteria, will they be kind of given waivers? 

    PAPAGEORGIOU: Thank you.

    DEVAHASADIN: Before you begin, I would like to read this question. How do you see the impact U.S. labor tariff on Sri Lanka’s ability to secure and sustain the SLA with global partners?

    PAPAGEORGIOU: Yeah, great. Thank you; these are good questions. In terms of the timing, obviously things are still underway.  This is only a staff-level agreement, which means we have agreed on principle on many things of the underlying Fourth Review and conditions of the prior actions that I mentioned a few minutes ago.  I think there’s good momentum from the authorities’ and everybody else’s point of view in completing the review.  That takes a little while because we understand a lot of these issues are still being discussed and there is more work to be done, both from the authority side and from our side as well.  It’s a long process, as you probably know, in terms of us consulting and redrawing our numbers and our assumptions and having a great confidence in the direction of policy reforms and of the outlook and everything else.  I would say that it will take a little while, maybe a couple more months at least, in terms of finalizing the review.  So hopefully in two months’ time or so, by, let’s say, June, we should be able to have some more news for you on this front. 

    Now, on the issue of U.S. tariffs and how does it affect the country?  Obviously, as I mentioned, trade policy uncertainty is one of the issues that we have discussed quite extensively with the authorities on what could that mean for Sri Lanka’s economy and economic performance.  We know that, obviously, the authorities are committed to achieving program objectives and to see how the targets are being met.  They have also committed to addressing any sort of underperformance or deviation for program targets with remedial measures.  So, we think that we take this commitment very seriously, and we note their strong impetus for delivering on those. 

    Obviously, the global trade policy uncertainties, as I mentioned, is a significant risk.  All I can say at this point is that if these risks materialize, we will work with the authorities to assess the impact of those shocks, and we will support the country in formulating specific policy responses within the contours of the existing IMF program.  We have very frequent discussions with the authorities.  We were discussing, we were talking to them as recently as last Friday, as a few days ago.  We continue talking to them on a daily basis.  Martha talks to them on a constant basis.  And we continue conducting weekly monitoring meetings with the entire team, both here in Colombo as well, so that we can ensure that program performance remains on track. 

    This is all I can say for the moment, but it is very important to note also that the Sri Lankan authorities, the Sri Lankan government, have made great progress in establishing greater connection with bilateral trade partners, including the United States.  And we encourage more action and greater discussion in ensuring that there is a good outcome from these discussions and that the trade policy uncertainty gets resolved and there’s greater certainty. 

    DEVAHASADIN: Thank you. I just got the five minutes remaining warning. I would like to open the floor to anyone who hasn’t asked any questions.  Please feel free to jump in.  Otherwise, I’ll go back to the hand.  Anyone else who hasn’t asked any question?  Well, all right, I see one hand up.

    DEVAHASADIN: Thank you. We’ll come back to you.

    QUESTIONER: Thank you.  I just have a question.  It’s kind of a follow-up to Evan’s previous answer.  You talked about a very limited response that you can give talking about trade policy and the impact of the U.S. tariffs.  But you did say that Sri Lanka had expressed a sort of a commitment to work and work towards the targets it has agreed with the IMF.  But in the most recent weeks post those tariff announcements, targets, as much as you said that they have expressed a willingness to work within the framework – I think you said, within the contours of the agreement – has Sri Lanka expressed concerns about reaching those targets, particularly because these tariffs are believed broadly to have a potential impact on its export earnings?  Obviously, it’s foreign currency earnings and things like that.  So how much of a concern have you heard from the Sri Lankan authorities?  And what is the sort of leeway or the kind of flexibility that Sri Lanka would have within the agreement with the IMF?  I’m sure you have this with a lot of sort of your agreements, but, yeah, where Sri Lanka is concerned, how do you see it?  Thank you. 

    PAPAGEORGIOU: Thank you. That’s a good question. It follows through a little bit from my previous answer, as you said.  I don’t know, given that we don’t have much time, let me go ahead and answer this and maybe we can give five more minutes, Pavis, to other people to ask questions as well. 

    DEVAHASADIN: Sounds good.

    PAPAGEORGIOU: So, first of all, every review, now we’re on the Fourth Review, of the program is an opportunity to assess the economic developments, to review program targets, and to determine the reform agenda and the reform measures that the authorities plan for the period ahead. It just happened that in this review we have a significant trade policy shock. So, in these discussions, we’ve had an understanding of what are the concerns and what is the kind of shock.  And by the way, this is something that we also, as Fund staff, are trying to implement, to understand, to comprehend, and to put into our outlook. 

    So obviously, the 44 percent tariff on Sri Lanka that was announced on April 2nd would have a significant impact, and the authorities understand this very well.  The impact obviously will be on the apparel and rubber industries.  Obviously, as you know very well, these account for a very large share of the country’s exports to the United States.  I believe it’s almost three-quarters, or over 70 percent.  And also, the real sector implications of these are very important because these two sectors, apparel and rubber, employ a lot of workers, in Sri Lanka. Just the apparel industry alone is over 300,000 workers or 320,000 workers.  So, the 90-day pause that was announced has allowed the authorities to engage constructively with the United States.  And we take, take very positive note on this. 

    Now, within, in general, as I mentioned, the global trade policy uncertainty for any small open economy and definitely for Sri Lanka poses significant downside risks.  For these discussions, we understand, obviously, the issues that arise and how they should be baked into the program.  If there is any substantial risk that may pan out either on the back of tariffs or some other disruption, we will work with the authorities to incorporate them to assess their impact and put them into policy responses. 

    At this point, it will be a little premature of me to talk about specific issues, but we’ve had a lot of discussions, and we think that the authorities are doing the best they can to address these issues.  It’s important to also mention that here that any time is a good time for implementing more reforms for discussing greater options towards having more trade policy responses.  And we believe that Sri Lanka should continue exploring also additional ways in making its exports more marketable and appealing to a wider range of counterparts. 

    DEVAHASADIN: Thank you, Evan. I’ll give the final question. We are running out of time, but I think we have enough time for one last question.

    QUESTIONER: Thank you.  It’s about the tax revenues.  According to the 2025 budget, much of the tax revenue is expected from vehicle imports, and we have — from the dealers that of the vehicles have been imported in the last two months, about 75 percent have been sold.  Of course, even though 25 percent may not have been sold, still the government has got revenue for those because they have been cleared through customs. That is no issue, but it would probably have implications for future demand.  So, the market is sort of not as vibrant, as there doesn’t seem to be a huge pent-up demand.  How concerned are you that this one single item in the budget, which is sort of going to underpin tax revenue, may not materialize this year?  Thank you.  Thank you.

    PAPAGEORGIOU: So obviously the authorities have made significant progress on creating greater opportunities for revenue and for collecting more. You may very well know that the situation was far worse in terms of tax revenue, as I mentioned in my earlier remarks, as early as couple of years ago. So obviously there is definitely progress. On this year’s discussion,

    I think there is a lot of the progress; has been a positive one.  There has been greater progress towards ensuring more revenue that could be collected from a range of measures.  You mentioned very accurately that the lifting of the import ban on motor vehicles is a very, very important. I would say the primary measure underpinning the revenue package.  We saw that, also in the budget, it is expected to yield 1.2 percent of GDP in 2025.  And that’s about 80 percent of the 1.5 percent of GDP in all tax revenue.  So obviously, as you mentioned, this is very important to get right and to continue with the momentum. 

    We note from the latest data that we have monitoring and we’re getting is that there is actually a good momentum on those motor vehicle imports.  So as my latest data — I was trying to find them — from what I remember, there has been quite a lot of good increase in the letters of credit.  I believe it’s around USD $350 million that were open.  These are letters of credit that are attached to importing vehicles.  So, we think that the associated revenue that will be incurred from those imports is starting to come on pace, and that’s a very important and encouraging sign.  So, we look forward to seeing more. 

    Of course, I mentioned a moment ago as well that if there are signs that — that there is underperformance of revenues or if there is a revenue shortfall, we have discussed with the authorities, and they are committed to implementing contingency revenue measures, and this will go a long way in ensuring fiscal sustainability and greater revenue.  Thank you. 

    DEVAHASADIN: Thank you, Evan. Unfortunately, we’re at time. Before we close, Evan, do you have any parting words? 

    PAPAGEORGIOU: No, I thank you very much. I thank you all for being here. I look forward to continuing to engage with you, and Martha and I know that we have a great relationship with all of you and a frequent interaction.  We are happy to continue taking your questions.  We now are moving forward completing the Fourth Review in the next couple of months, so we will certainly communicate more as we get towards that goal.  We will also try to have another similar discussion and press conference at the end of that review if all goes well.  Let me just mention again that we are fully committed in supporting the economy and the Sri Lankan authorities, both in the current issues that they are facing and just more broadly on formulating the appropriate policy responses and the necessary form.  Thank you all very much for being here.  I wish I was in Colombo, but I look forward to seeing you again in the next few months.  Thank you. 

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

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

    https://www.imf.org/en/News/Articles/2025/04/30/tr-042925-press-briefing-sla-4th-rev-sri-lankas-reform-program-supported-by-eff-arrangement

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  • MIL-OSI USA: Congressman Scott Perry Introduces Eliminating the RFS and Its Destructive Outcomes Act

    Source: United States House of Representatives – Congressman Scott Perry (PA-10)

    Washington D.C. – Today, Congressman Scott Perry (PA-10) announced the introduction of the “Eliminating the RFS and Its Destructive Outcomes Act,” a critical piece of legislation designed to eliminate the Renewable Fuel Standard (RFS) and its significant harm upon American consumers, workers, and the environment.

    “Eliminating the RFS is a vital step in preserving essential jobs and reducing inflationary pressures,” said Congressman Scott Perry. “By removing this mandate, we can curb the rising costs that are stretching household budgets to their limits.

    While the RFS was intended to foster the use of environmentally friendly fuels, the environmental benefits of ethanol, particularly in replacing gasoline, are highly questionable. When evaluating the full environmental impact of increased corn production – including the water, land, and energy resources required – it’s clear that the RFS has produced net negative environmental consequences.”

    The RFS originally was enacted with the noble goal of reducing America’s dependence on foreign oil and promoting environmentally friendly fuel alternatives; however, it failed on both fronts. Its unintended consequences have had detrimental impacts on our economy, energy independence, and environment.

    One of the most pressing RFS issues is its devastating effect on the American People, particularly due to the negative effects on the domestic refining industry. RFS created regulatory burdens that undermine US refining capacity, and forced many refineries to scale back operations or close altogether – which, in turn, increases our reliance on foreign oil and fuels inflation, and further drives up the prices of food and fuel for American families.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Shri Gyaneshwar Kumar Singh Takes Charge as Director General & CEO of Indian Institute of Corporate Affairs(IICA), bringing Over 30 Years of Expertise in Finance, Law, and Governance

    Source: Government of India

    Shri Gyaneshwar Kumar Singh Takes Charge as Director General & CEO of Indian Institute of Corporate Affairs(IICA), bringing Over 30 Years of Expertise in Finance, Law, and Governance

    Shri Singh has served in key positions in the Ministry of Corporate Affairs including IEPFA, IBBI, and other important institutions

    Posted On: 30 APR 2025 7:51PM by PIB Delhi

     Shri Gyaneshwar Kumar Singh, a distinguished officer of the Indian Post & Telecommunication Accounts and Finance Service (IP&TAFS), 1992 batch, has assumed charge as the new Director General and Chief Executive Officer of the Indian Institute of Corporate Affairs (IICA), which is a think tank under the Ministry of Corporate Affairs, Government of India. With an illustrious career spanning over three decades, Shri Singh brings with him a wealth of experience in Finance, Corporate law, Insolvency, Corporate Social Responsibility, ESG Reporting, Public Policy, E-Governance, and Capacity Building.

     

    He has previously served in various key roles including Joint Secretary in the Ministry of Corporate Affairs, CEO of the Investor Education and Protection Fund Authority (IEPFA), and as Member of the Governing Body of the Insolvency and Bankruptcy Board of India (IBBI).  He was also Government nominee to the Central Council of the Indian Institute of Company Secretaries and Indian Institute of Chartered Accountants of India from 2019 -2021. Notably, he also held the position of DG & CEO of IICA during 2017–18, when he led a remarkable turnaround of the institute, making it financially self-sustaining.

    He was Member Secretary of the Insolvency Law Committee (ILC) from 2018 to 2021.He played an important role in implementation of the Insolvency and Bankruptcy Code and subsequent amendments to the code up including amendment Act on Pre-packaged insolvency resolution, thereby making the Code more responsive to the needs of the economy. He also made significant contribution in establishment and strengtheningof many new institutions in the Ministry of Corporate Affairs such as NCLT, NCLAT, IEPFA and IBBI.

     He possesses core competency in Corporate Social Responsibility (CSR) and played a pivotal role in assisting the Ministry of Corporate Affairs in launching the National CSR Awards Scheme, which aims to benchmark best CSR practices across the country. He also served as the Member & Convener of the High-Level Committee on Corporate Social Responsibility, contributing significantly to the finalization and submission of the committee’s report in 2019. Furthermore, he played a critical role in overhauling the CSR Rules, 2014, including revamping reporting formats and development of transparent systems for CSR disclosures, enhancing ease of doing business and minimising discretion.

    A thought leader in sustainable corporate governance, Shri Singh chaired the Committee on Business Responsibility Reporting (BRR) and submitted a comprehensive report in August 2020. This landmark work laid the foundation for SEBI’s mandate on Business Responsibility and Sustainability Reporting (BRSR) for the top 1000 listed companies on a voluntary basis from FY 2021–22.

    Shri Singh holds academic degrees from prestigious institutions including JNU (MA &M.Phil in Sociology), FMS Delhi (MBA in Finance), and Delhi University (LLB and BA Hons in History). His international stint as Capacity Development Advisor with UNDP Afghanistan adds a global dimension to his profile.

    His return to IICA signals a promising new chapter for the institute as it continues to serve as a think tank, policy laboratory, and capacity development hub under the aegis of the Ministry of Corporate Affairs. Shri Singh’s visionary leadership is expected to further IICA’s mission of promoting responsible corporate governance, sustainability, and innovation in India’s dynamic business environment.

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  • MIL-OSI Asia-Pac: WAVES 2025 Transforming India into a Global M&E Powerhouse

    Source: Government of India

    Posted On: 30 APR 2025 6:43PM by PIB Delhi

    Introduction

    Get ready for a landmark celebration of creativity, technology, and storytelling as WAVES 2025 — the World Audio Visual & Entertainment Summit — takes center stage in Mumbai from May 1st to 4th. Hosted by the Government of India, this first-of-its-kind global event brings the spotlight to India’s vibrant Media & Entertainment sector, transforming the Jio World Convention Centre into a dynamic hub of imagination, innovation, and opportunity.

    With over 100,000 registrations, including 1,100+ international participants, WAVES 2025 is where filmmakers, tech pioneers, creators, investors, and industry leaders come together to shape the future of entertainment. From the legendary voices of Amitabh Bachchan and Shah Rukh Khan to the tech leadership of Satya Nadella and Sundar Pichai, the summit unites visionaries across sectors in a powerful showcase of talent and ambition.

    This is more than a summit — it’s a movement to position India as a global creative and digital powerhouse. With exciting highlights like the Create in India Challenge, cutting-edge exhibitions, startup pitches, cultural performances, and high-level dialogues, WAVES 2025 marks a bold step into the future—where culture meets code, and tradition meets transformation.

    Create in India Challenge Season 1

    The Create in India Challenge (CIC) is a strategic initiative aimed at empowering India’s content creators. By providing a platform for innovation and creative expression, CIC seeks to strengthen India’s creators’ economy, enhance soft power, and position emerging talent for global recognition. The initiative supports monetization of skills and contributes to the growth of the media and entertainment industry.

    CIC brings an exciting lineup of 32 unique challenges across creative, tech and cultural fields. Launched on August 22, 2024, it attracted massive participation from across India and around the world! The challenges have attracted entries from over 60 countries, reflecting the global appeal and reach of this pioneering initiative. From this exceptional pool of talent, 750 finalists will be given the opportunity to showcase their creative skills and outcomes at Creatosphere, a specially curated platform featuring innovation across animation, comics, AI, XR, gaming, music, and more, as part of WAVES 2025. The winners of these challenges will be conferred the prestigious ‘WAVES Creator Awards’ in a grand red carpet ceremony on Day 2 of the event.

    1. WAVES Promo Video Challenge: A unique contest designed to discover powerful and inspiring audiovisual content that captures and showcases the spirit and ambition of the WAVES 2025, through a video.

    Total Registrations

    164

    Finalists

    3
    1. Truth Tell Hackathon: Tech innovators, data experts, and media professionals were called to develop AI solutions that tackle misinformation and promote credible journalism.

    Total Registrations

    5650

    International Registrations

    186

    Finalists

    5
    1. Community Radio Content Challenge: This exciting competition aims to celebrate and showcase the creativity, innovation, and impact of community radio stations across India.

    Total Registrations

    246

    International Registrations

    14
    1. WAVES Hackathon Ad spend Optimizer: Participants worked on using data science, machine learning, and statistical modeling to create solutions that help advertisers make smarter, data-driven decisions. The goal was to maximize ROI and support marketing objectives.

    Total Registrations

    115

    International Registrations

    1
    1. Make The World Wear Khadi: Aims to blend India’s rich textile heritage with global fashion trends, offering an exciting challenge to advertising professionals and freelancers.

    Total Registrations

    770

    Finalists

    5
    1. Wah Ustad: It aims to nurture exceptional talent in Hindustani, Carnatic, and soulful Sufi music while preserving and promoting India’s rich musical legacy.

    Total Registrations

    300

    International Registrations

    3
    1. Battle Of the Bands: Designed to push the limits of creativity and music, while promoting a sense of community, innovation and growth within the industry

    Total Registrations

    200
    1. Symphony Of India: The event featured a diverse range of musical performances across various genres, celebrating the broad tastes of music lovers.

    Total Registrations

    212
    1. Theme Music Competition: Songwriters, singers, performers and music creators were invited to create and share a piece of music that resembles Indian classical music or a fusion of classical and contemporary music instruments and styles.

    Total Registrations

    212

    Runner-ups

    4

    Winner

    1
    1. Resonate EDM Challenge: Aims to spotlight and celebrate global talent in production of Electronic Dance Music (EDM), fostering collaboration, innovation, and creativity in music production and live performance. This initiative aligns with the “Create in India” mission, showcasing India as a hub for global creativity and entertainment.

    Total Registrations

    394

    International Registrations

    10

    Finalists

    10
    1. India A Bird’s Eye View: Passionate drone pilots and filmmakers were invited to capture the breathtaking beauty and diversity of India in a 2-3 minute video, showcasing the country from the unique perspective of aerial drone cinematography.

    Total Registrations

    1324

    Finalists

    5
    1. Anti-Piracy Challenge: This competition focuses on encouraging and supporting innovative solutions created by local companies in fingerprinting and watermarking technologies.

    Total Registrations

    1600

    Finalists

    7
    1. Comics Creator Championship: Comic Making Competition for amateur and professional artists.

    Total Registrations

    1560

    Finalists – Professional Category

    5

    Finalists – Amateur Category

    5
    1. WAVES Anime and Manga Challenge: An innovative initiative aimed at harnessing the growing interest in manga and anime in India.

    Total Registrations

    2400

    International Registrations

    7

    Runner-Ups

    3 (5 Different Categories)

    Winners

    7 (5 Different Categories)
    1. Animation Filmmakers Competition: Aimed at uncovering and empowering India’s storytellers in the field of animation.

    Total Registrations

    1290

    International Registrations

    19

    Finalists

    42
    1. Game Jam: An exciting opportunity for India’s game developers to showcase their creativity and innovation.

    Total Registrations

    5569

    Finalists

    10
    1. Esports Tournament: The eFootball and World Cricket Championship (WCC) competitions are held in batches, each offering thrilling matchups, with the champions being crowned at WAVES.

    Total Registrations

    35008

    Finalists (All Phases)

    10
    1. City Quest: Shades of Bharat: An educational game to celebrate Bharat’s urban development.

    Total Registrations

    2594

    International Registrations

    15
    1. XR Creator Hackathon: Challenge that invites developers from across India to push the boundaries of augmented and virtual reality.

    Total Registrations

    2205

    Winners (All Themes)

    5
    1. Innovate2educate Handheld Device Challenge: Academia, designers, engineers, and innovators were invited to develop a prototype of an educational handheld device that makes learning math, solving puzzles, and boosting cognitive skills fun and interactive.

    Total Registrations

    1826

    International Registrations

    513

    Finalists

    10
    1. AI Avatar Creator Challenge: The challenge focused on creating AI avatars: personalized, interactive digital personas that engage with users like human influencers in virtual spaces.

    Total Registrations

    1324

    International Registrations

    100
    1. WAVES Awards Of Excellence: A prestigious competition recognizing outstanding showreels and AdFilms in animation, VFX, gaming, and related fields, celebrating creativity and innovation.

    Total Registrations

    1331

    International Registrations

    63
    1. Bharat Tech Triumph Program: A contest to identify and empower the top gaming and interactive entertainment innovators.

    Total Registrations

    1078

    International Registrations

    12

    Winners

    20

     

    1. WAVES VFX Competition: Participants were tasked with creating a visual effects sequence or short film featuring a superhero with extraordinary powers, but using them in the context of everyday, mundane life.

    Total Registrations

    1367

    Finalists

    14
    1. WAVES Comic Chronicles: This competition invited comic submissions on any chosen theme, requiring a minimum of 60 panels, with each image or scene representing a single panel.

    Total Registrations

    1145

    International Registrations

    62

    Finalists

    50 (Both in General and Student Track)

     

    1. WAVES Explorer: Invited participants on a captivating journey to showcase India’s rich cultural heritage and creativity. Participants created YouTube videos (up to 1 minute) or vlogs (up to 7 minutes) highlighting their favorite aspects of India.

    Total Registrations

    6932

    International Registrations

    30

     

    1. Reel Making Competition: Participants were invited to create engaging reels on themes such as food, travel, fashion, dance, music, gaming, yoga & wellness and tech.

    Total Registrations

    7812

    International Registrations

    55
    1. Young Filmmakers Challenge: The competition aimed to foster innovation, storytelling skills, and digital literacy among young participants through a concise 60-second film format.

    Total Registrations

    905

    International Registrations

    2

     

    1. Film Poster Making Competition: A unique opportunity to create innovative and visually compelling reimagined film posters to celebrate and promote the rich film poster heritage of India.

    Total Registrations

    543

    International Registrations

    29

    Finalists

    50

    Winners

    3
    1. Trailer Making Competition: Filmmakers, both seasoned and emerging, were invited to craft compelling trailers using Netflix content, offering a chance to reimagine iconic scenes or highlight fresh perspectives.

    Total Registrations

    3500

    International Registrations

    36

    Finalists

    20
    1. Unreal Cinematics Challenge: The Unreal Cinematics Challenge by TVAGA provided a platform for artists, animators, and content creators to showcase their storytelling and technical skills using Unreal Engine.

    Total Registrations

    700

    International Registrations

    1
    1. WAVES Cosplay Championship: A grand celebration of pop culture, creativity, and craftsmanship, bringing together participants showcasing their talents on the final day. It highlights genres such as Indian history, manga, anime, comics and games.

    Total Registrations

    513

    International Registrations

    3

    Finalists

     29

     

    Conclusion

    As WAVES 2025 nears its grand finale, thousands of participants from across the globe will come together to showcase their creativity, innovation, and talent. With a diverse range of challenges and an unparalleled platform for collaboration, WAVES is set to make a lasting impact on the future of India’s media and entertainment landscape.

    References

    https://cic.wavesindia.org/cic-dashboard/

    https://wavesindia.org/challenges-2025

    https://pib.gov.in/PressReleasePage.aspx?PRID=2122688

    Kindly find the pdf file

    ****

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  • MIL-OSI Security: Former Georgia Church Bookkeeper Sentenced to Prison for Fraud

    Source: Office of United States Attorneys

    Florida Woman Stole $173,500 from Church’s Peanut Butter and Jesus Charitable Program

    ALBANY, Ga. – A Florida woman who served as the bookkeeper for an Alapaha, Georgia, church was sentenced to federal prison and ordered to pay back $173,500 in restitution for falsely applying for and then stealing federal loan money designated for use by the church and the church’s Peanut Butter and Jesus (PB&J) charitable organization, which provides food and hope for the community.

    Judith Alane Chavis, 58, of Sorrento, Florida, was sentenced to serve 21 months in prison per count to run concurrently to be followed by three years of supervised release and $173,500 in restitution by U.S. District Judge Louis Sands on April 29, 2025. Chavis previously pleaded guilty to five counts of wire fraud in relation to a disaster benefit and ten counts of money laundering on Oct. 30, 2024. There is no parole in the federal system.

    “Individuals who use places of worship and charitable organizations for their fraud and theft will be rooted out and face consequences for their criminal actions,” said Acting U.S. Attorney C. Shanelle Booker. “I want to express my gratitude to our FBI partners for their ongoing efforts to combat fraud and ensure accountability for these crimes.”

    “Chavis betrayed the confidence the church had placed in her by misappropriating funds intended to support its mission,” said Paul Brown, Special Agent in Charge of FBI Atlanta. “We hope that this federal prison sentence offers some measure of closure to the church and its congregation and serves as a warning to others who might exploit the trust of faith-based or charitable institutions for personal enrichment.”

    According to court documents, Chavis was a volunteer bookkeeper for both the Glory Church of Alapaha and its charity, the Peanut Butter and Jesus Outreach (PB&J), from 2018 until August 2022. Chavis was authorized to write checks; the Church’s and PB&J’s bank statements were only sent to her. Between August 2020 and March 2022, Chavis applied for and was granted $163,500 of Economic Injury Disaster Loans (EIDL) from the United States Small Business Administration (SBA) on behalf of the Church and PB&J without the Church’s or PB&J’s authorization or knowledge and using the Church’s letterhead. Chavis also falsely designated herself as treasurer in the request for funds, signing the letter herself. On March 7, 2022, Chavis submitted a signed certification stating members of the Church’s finance committee approved the second modification of the loan. No such approval occurred. In June 2021, Chavis submitted requests for targeted advances on behalf of the Church without the Church’s authorization or knowledge. The SBA granted the requests and deposited $15,000 in the Church’s account. Chavis transferred almost all of the EIDL and advance funds from the Church’s and PB&J’s accounts, totaling $173,500, to her personal checking account using the Church’s and PB&J’s checks that she made out to herself and signed without the Church’s or PB&J’s authorization or knowledge. She used the money for personal expenses including travel and large purchases.

    FBI Atlanta’s Valdosta Resident Agency investigated the case.

    Assistant U.S. Attorney Hannah Couch Hostetler prosecuted the case for the Government.

    MIL Security OSI –

  • MIL-OSI USA: New GDP Data Proves that Trump is Tanking the Economy

    Source: United States House of Representatives – Congresswoman Suzan DelBene (1st District of Washington)

    New GDP Data Proves that Trump is Tanking the Economy

    Washington, D.C., April 30, 2025

    Today, Congresswoman Suzan DelBene (WA-01) released the following statement after new gross domestic product (GDP) data shows the economy shrank by 0.3% in the first quarter. 

    “For all his broken promises, President Trump has accomplished one notable feat in his first 100 days – he tanked a strong economy and put us on the brink of a recession. Trump and Republicans promised to lower prices and grow the economy. The terrible reality is that 100 days in America is less affordable as a direct result of the president’s reckless tariffs and economic chaos. The next 100 could be even worse as Congressional Republicans plan to gut Medicaid and food assistance to pay for another round of massive tax cuts for the wealthy. It’s clear where the president and Republicans stand, and it’s not with American families.” 

    MIL OSI USA News –

  • MIL-OSI: Gems Launchpad expands its Gems Protect offering, introducing the first Credit Refund option on original investments

    Source: GlobeNewswire (MIL-OSI)

    After launching Gems Protect last month to provide insurance-like service for investors, the expanded offering with the ‘Credit Refund’ feature enables members to have the option to recoup the full value of their original investments in launchpad private sales if they so choose.

    LIMASSOL, Cyprus, April 30, 2025 (GLOBE NEWSWIRE) — Gems Launchpad, a community-driven launchpad built around the Gems ecosystem’s exclusive investor network, extends its Gems Protect program with the introduction of an exclusive ‘Credit Refund’ feature. This option provides the launchpad’s Premium members with the flexibility to exchange tokens purchased in its token private sales and receive a credit refund. The credit refund allows these members to redirect their funds to other launchpad projects, enhancing investor satisfaction while ensuring funds remain within the Gems ecosystem.

    Gems Protect, the ecosystem’s financial safeguard program, unveils its second feature, Credit Refund, set to officially launch on April 30. This feature will allow members who invested in select Gems Launchpad Pro project private sales/presales to exchange those tokens for credit points worth the equivalent of the original presale purchase price. The feature is unveiled following the program’s successful initial risk-mitigation feature, Miner Safeguard, which allows investors to offset 75 percent of any potential financial Miner losses.

    Initially, the Credit Refund option will be available only to Gems Premium Members who hold 30,000 or more $GEMS tokens. This initial access is a way to express our gratitude and appreciation to our most dedicated supporters and community members. A few days later, the Credit Refund option will become available to all Premium members.

    Providing investors unprecedented risk-mitigation and financial protection, both Gems Protect features highlight and align with Gems’ commitment to empowering users across the digital asset landscape. Equipping investors with safeguards while supporting ecosystem stability, Gems, an all-in-one crypto ecosystem, continues to develop a future where users can trade, invest, learn and earn in a single comfortable, integrated financial hub.

    The Credit Refund credits from returned tokens, which will only expire after a year, can be used to invest in other projects on Gems Launchpad Pro, including select upcoming private sales.

    Members who use the Credit Refund option must log into the Gems Launchpad platform and connect the same wallet used for the original purchase. The platform will automatically detect the number of tokens purchased and the purchase value, with the maximum credit being calculated based on the amount of tokens purchased during the launchpad’s private sale. This means that if a member bought more tokens later, the credit will only apply to the token amount purchased in the private sale via the launchpad.

    “Insurance in crypto is almost unheard of, and a full credit option covering one’s investments is unthinkable, yet that’s what Gems is doing,” says Isaac Joshua, CEO of Gems Launchpad. “Gems Protect offers users peace of mind by delivering the ultimate investment safeguard. With the extended version of this program, we’re giving back to the community by providing members the freedom to invest responsibly, confidently, and securely, and offering an additional layer of protection through a service unheard-of in crypto to date.”

    About Gems:
    Gems is a burgeoning financial hub and all-in-one crypto ecosystem designed to empower users across the digital asset landscape. From trading and project launches, to education and rewards, Gems unifies a suite of platforms—including Gems Launchpad, Gems Trade, and more—into a seamless experience for traders, investors, leaders, and innovators. At the heart of the ecosystem is the $GEMS token, which fuels utility, governance, and growth across all its offerings. With strategic expansions, Gems is building a future where users can trade, invest, learn and earn in one integrated financial hub. For more information, visit: https://gems.vip/

    About Gems Launchpad:
    Gems Launchpad is a distinguished crypto launchpad with the mission of unearthing genuine “gems” in the Web3 landscape through rigorous due diligence. The platform aims to bring together a robust ecosystem for blockchain projects by focusing on launching innovative ventures, expanding communities, penetrating new markets, and leveraging its international network of investors, known as Leaders, to partake in the early stages of groundbreaking projects. Gems’ launchpad model is driven by active community participation, creating a synergistic environment that benefits both visionaries and the adoption of pioneering ideas.
    For more information, visit: https://gems.vip/launchpad

    1. Didn’t love your last crypto investment? Return it for credit – just like exchanging a shirt you didn’t like.

    2. Gems lets you return your token purchase and get credit – like store credit for your next investment.

    3. New from Gems: Return tokens you bought, get credit back – like returning clothes you didn’t wear.

    4. Invested in a project and changed your mind? Now you can get your money back as credit for something else on Gems.

    5. Introducing Credit Refund: Your crypto investment, now with a return policy.

    Disclaimer: This is a paid post and is provided by Gems Launchpad. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4c3e9fa5-9bff-4826-83bd-70fd1809ef21

    The MIL Network –

  • MIL-OSI: PayOS Teams Up with Mastercard and Visa Intelligent Commerce, Emerges From Stealth to Power AI-Driven Payments

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 30, 2025 (GLOBE NEWSWIRE) — PayOS, the first card-native payments infrastructure for AI agents, today emerged from stealth and announced collaborations with Mastercard and Visa. Through partnerships with Mastercard to leverage Mastercard Agentic Tokens, and with Visa Intelligent Commerce, an initiative that opens Visa’s payment network to developers building AI agents transforming commerce. PayOS will deliver AI developers direct, global access to the world’s leading payment networks.

    PayOS lets developers add checkout, billing, and money movement to agentic workflows unlocking new use cases in AI commerce.

    The card-native system lets users link a card once and enable it across agentic workflows—with human-in-the-loop controls, PCI security, support for every major card network, and full processor flexibility.

    “Our vision is simple: empower autonomous agents to handle money as effortlessly—and safely—as humans do,” said Johnathan McGowan, Co-Founder and CEO of PayOS. “PayOS makes that vision a reality, powering secure and frictionless commerce for the agent-driven economy.”

    “Agentic commerce won’t scale without fixing payments,” added Aparna Krishnan Girish, Co-Founder and CPO. “PayOS unlocks entirely new experiences by removing that friction.”

    The founding team brings deep payments expertise—solving the last-mile challenge for the agent-driven economy.

    Learn more in the PayOS launch blog: https://payos.ai/blog/payos-launch

    Partner Perspectives:
    Seema Chibber, Executive Vice President, Core Payments, Mastercard, North America: “Harnessing the potential of AI to enable seamless, secure, and intelligent transactions will define the future of commerce. With Mastercard Agent Pay, we are taking our proven tokenization technology to new heights and empowering people and businesses to transact with trust, security, and control. PayOS clearly shares this vision, and we’re excited to team up to expand the reach and impact of agentic commerce globally.”

    Rodney Robinson, CEO, TabaPay Inc: “We’re proud to partner with PayOS to power agentic payments—pull, push, and billing for AI agents — enabling seamless transactions at scale.”

    Howard Xiao, Head of Strategic Partnerships at VGS: “Tokenization is at the forefront of empowering agentic commerce and we’re proud to partner with PayOS, a pioneer for agentic card payment platforms.”

    Early-Access Partners Already Exploring Agentic-Commerce Applications

    PayOS has partnered with founding early-access partners INKPAY and Knowlee, who are currently exploring diverse agentic-commerce use cases alongside an expanding roster of AI-first startups.

    Robert Towles, CEO at INK Holdings, INK Games, and INKPAY stated: “Agentic Payments will change the future of payments in the gaming industry, and we are excited to be an early adopter and leader in agentic commerce. We’re proud to partner with PayOS, a pioneer in agentic card payment platforms.”

    Developers, fintechs, and AI platforms can apply for early access at https://payos.ai

    About PayOS
    PayOS is a next-generation card-native payments and billing platform powering agent-driven commerce. The platform enables agents to securely vault cards, streamline checkouts, send and receive payments, and manage billing—all through a unified, compliant system. Founded in 2025 and backed by industry veterans, PayOS is headquartered in San Francisco.

    Visa is a registered trademark of Visa International Service Association.

    Mastercard is a registered trademark of Mastercard International Incorporated.

    The MIL Network –

  • MIL-OSI USA: TRANSCRIPT: LEADER JEFFRIES REMARKS ON PRESIDENT TRUMP’S FIRST 100 DAYS

    Source: United States House of Representatives – Congressman Hakeem Jeffries (8th District of New York)

    Today, Democratic Leader Hakeem Jeffries delivered the following speech on what a disaster for the American people that Donald Trump’s first 100 days have been and how costs, chaos and corruption are all up, thanks to the President and his Rubber Stamp Republicans.

    Good morning. Good morning. Thank you. Thank you, everyone. Good morning. Good morning. Thank you. Good morning. Good morning. Good morning.

    Right at the top, let me make one thing clear: The Trump administration has been a disaster. 100 days in, Donald Trump and Elon Musk have failed to make your life more affordable. They failed to make you safer. They failed to make us more respected around the world. But their biggest failure is this: they have failed to appreciate the strength of the American people.

    During the dawn of the Republic, it was once observed that when people fear the government, there is tyranny. When the government fears the people, there is liberty.

    Donald Trump and Republicans thought they could shock and awe us into submission. They thought we would be too complacent to stand up for liberty and justice for all. They thought we would walk away from the principle of equal protection under the law. They thought wrong. They thought wrong. They thought wrong.

    Trump’s unconstitutional assault on the American way of life is unprecedented, but the so-called dictator on day one is learning an important lesson. Americans don’t bend the knee to bullies. In the face of tyranny, we join together. In the face of tyranny, we rise up together. In the face of tyranny, we get into some good trouble together. And we’re just getting started.

    100 days in, Donald Trump has the lowest approval rating of any president in modern American history. 100 days in, voters have elected Democrats in Republican-held districts all across the country, including in Iowa and Pennsylvania. 100 days in, Elon Musk spent $25 million to buy a state supreme court seat in Wisconsin, and lost by double digits. 100 days in, more than 200 different lawsuits have been filed against the unconstitutional and unlawful executive orders of Donald Trump, and the American people are winning in court. 100 days in, principled opposition to Republican extremism is taking shape from sea to shining sea. The American people are rising up and making it clear that the Trump administration has a lot to fear.

    When my oldest son JJ was 9 years old, he played travel baseball with a group of his friends. Many of you know that travel sports can be taxing on the schedule. It’s a labor of love for our children. During the season, it seems like almost every weekend for several months, you’re on the road. And so, this one particular Memorial Day weekend, JJ had a baseball tournament in a little town off the beaten path somewhere in the Northeast. 

    Travel sports can take you to some interesting places. I decided to make it a road trip and bring my youngest son, Joshua, with us. He was just 6 years old at the time. And so I said to him, he’s gonna come on this trip, and it’ll be like a vacation. What did I say that for, y’all? 

    When I mentioned vacation, he had visions of Atlantis. So we pulled up to the motel where we were staying, and the situation was a bit shaky. My 6 year old looked at the motel, looked at me, looked at the motel and looked at me and said: “Dad, is this where we’re staying?” I said, “Yes, Joshua, why do you ask?” He responded, “Oh my God, Dad, this is a debacle.” 6 years old. I looked at him and asked, “What does the word debacle mean?” He responded quickly. He said: “I don’t know Dad, it’s something bad.”

    This is the moment we are in right now in the United States of America, with Donald Trump and the Republicans in charge. 

    Crashing the economy is something bad. Destroying Medicaid as we know it is something bad. Taking a chainsaw to Social Security is something bad. Raising costs on hardworking American taxpayers is something bad. Firing federal workers, including thousands of veterans who served this country, is something bad. Canceling medical research for children with cancer is something bad. Destroying the retirement accounts of everyday Americans is something bad. Trying to whitewash the most painful parts of our history is something bad. Targeting law-abiding immigrant families is something bad. Undermining the rule of law is something bad. 

    The first 100 days of the Trump administration have been a debacle. Enough. Enough. America is better than this. 

    When the new Congress began in January, Democrats were prepared to get to work in a bipartisan way. The Trump administration chose a different path. Far-right Republicans are tearing America apart, targeting our democratic way of life and tarnishing our reputation as the land of the free. It is wrong, and we will continue to push back aggressively. Donald Trump and the Republicans in Congress have given us 100 days of chaos, 100 days of cruelty and 100 days of corrupt behavior. That is not constructive leadership, it’s a recipe for disaster. 

    The American people deserve common sense leadership, the American people deserve compassionate leadership, the American people deserve courageous leadership that changes things for the better. Our message to the American people is simple: We hear you. We see you. We feel you. Democrats are determined to make life better for you.

    Donald Trump and his sycophants spent yesterday bragging about the speed with which they’ve moved during these first 100 days. They’re right.  Never has a president failed so spectacularly, so often, so quickly as Donald Trump. The White House referred to its strategy for the first 100 days as “shock and awe.” Well, they’re half right. It is shocking how rapidly this administration collapsed into chaos, cruelty and corruption. It is shocking how quickly MAGA Republicans turned their backs on working class Americans. It is shocking how spineless Republicans have been in the United States Congress. And it is shocking and tragic and infuriating how much damage Donald Trump and the Republican party’s policies have already done.

    Here’s the thing. They expected us to step back. But the American people are here to fight back. On the campaign trail, Donald Trump promised to end inflation. He promised to lower costs on day one.  When he was asking for your vote, Donald Trump told you he would make life more affordable for everyday Americans. Now that he’s in office, it’s a different story.

    In March, President Trump was asked if he was worried that car prices would go up because of his tariffs. His reply? “I couldn’t care less.” The cost of living in the United States is too high. America is too expensive. And Donald Trump couldn’t care less. He couldn’t care less that housing costs are too high. He couldn’t care less that grocery costs are too high. He couldn’t care less that childcare costs are too high. He couldn’t care less that health insurance costs are too high. He couldn’t care less that utility costs are too high. Donald Trump couldn’t care less. Prices everywhere are too high, and Donald Trump couldn’t care less. 

    100 days in, Donald Trump is making life harder for you and your family. And every day his costly tariffs stay in place, life in America gets more expensive. American families will pay thousands of dollars more per year. Small businesses are shutting down. Corporations are not hiring. Businesses are unable to invest because of the uncertainty that has been created.  Inflation is on the rise, life is getting more expensive and the reckless economic policies of Donald Trump and House Republicans are driving us toward a recession.

    Republicans in Congress could put a stop to this insanity at any time. Since they won’t, next November, we will. Yes, we will. Yes, we will. Which brings me to Elon Musk. I knew he would get that reaction. 

    We all agree that government should be more efficient. But like most things in life, there’s the American way and then there’s the cruel way. 100 days in, it’s clear that DOGE is not the American way. Cancelling medical research for children with cancer is cruel. Denying relief for communities reeling from natural disasters is cruel. Firing thousands of our veterans, like Joseph Quintinella of Virginia, who served this country in the Marines, is cruel. 

    But their cruelty doesn’t stop there. Republicans actually believe that Social Security is a Ponzi scheme. And they want to take a chainsaw to it. During the first 100 days of the Trump administration, Social Security has faced an unprecedented attack. Social Security offices have been closed, wait times have dramatically increased and people are being denied access to benefits that they have earned. Republicans continue to insist that Social Security is an entitlement program. They think they are entitled to destroy it. 

    When I was 15 years old, I got my working papers and secured my first job. I was a messenger dropping off packages from office building to office building in Midtown Manhattan. My salary was $3.35 per hour. That was the minimum wage back in the day. And I thought that I had made it big, particularly upon learning that as a high school student who worked part time, I wouldn’t have to pay any income tax. So I couldn’t wait to get my first check. 

    On a piece of paper, I multiplied $3.35 by the number of hours I expected to work during my first pay period. I figured out the total, and in my mind, that money was already spent. I couldn’t wait to go to Albee Square Mall in downtown Brooklyn and get some new sneakers so I could dress like Run DMC. But then the check came, and some money was missing. 

    I had two questions, y’all: Who is FICA, and why is he taking my money? 

    Here’s what I learned. All of us pay the FICA tax in connection with Social Security and Medicare. We pay the FICA tax on our first job. We pay the FICA tax on our last job. We pay the FICA tax on every single job we have throughout our lifetime. 

    Social Security and Medicare are not entitlement programs. They are earned benefits. Earned benefits. You work hard for those benefits, pay into those benefits and deserve those benefits. They are earned benefits. 

    Democrats will make sure that Donald Trump and House Republicans keep their hands off your Social Security and your Medicare. Hands off today. Hands off tomorrow. Hands off this week. Hands off next week. Hands off this month. Hands off next month. Hands off this year. Hands off next year. Hands off Social Security and Medicare Forever. Forever. Forever.

    Now, if this administration actually had some common sense, it would look at the damage that it’s done, the rejection from the people, the historic unpopularity of this president, and they would change course. But Donald Trump is doubling down. And instead of being a check and balance on this president’s abuse of power, Republicans in Congress are nothing more than a rubber stamp for his extreme agenda.

    Recently, I met a woman named Mary Beth. She lives in Canton, North Carolina, a town of 4,400 people that is still rebuilding from Hurricane Helene. She has custody of her four grandchildren, ages 10, 12, 15 and 16. Their parents can no longer care for them due to addiction, domestic violence and homelessness. The moment you talk to Mary Beth, you know that caring for those grandkids is everything. 

    And she’s doing it on a fixed income, working part time making $8 an hour at a coin laundry— and is no longer employed—to supplement the disability support that she had received. Mary Beth has had to skip refilling her prescriptions to make sure her grandkids don’t have to skip any meals. 

    Medicaid is the only reason her grandchildren are able to see a doctor, including the youngest, who is dealing with ADHD and autism. Mary Beth works hard, loves her family and is a patriotic American. And Mary Beth is here with us today. 

    But her family, just like millions of others throughout America, is now at risk of losing their healthcare. Why? Republicans are trying to slash Medicaid by up to $880 billion, the largest healthcare cut in American history.  

    And why are Republicans trying to rip healthcare away from working people, from Americans with disabilities, from children, from grandmothers like Mary Beth? So that they can give their billionaire donors like Elon Musk another tax cut. These healthcare cuts will hurt families, hurt women, hurt children, hurt veterans, hurt seniors and hurt disabled Americans. Hospitals will close, nursing homes will shut down and people will die. 

    Here’s the thing, in the United States of America—this is the wealthiest country in the history of the world—healthcare is not a privilege, healthcare is a right for every single American. For every single American. 

    If we were in the majority right now, none of this would be happening. But even in the minority, we are going to do everything we can to protect the healthcare of the American people.

    And we’ll keep reminding our Republican colleagues—especially the ones who vote like extremists but then go home and pretend to be moderates when it’s time to run for re-election— that the people are watching. It’s time for Republicans in Congress to stop being a rubber stamp for Donald Trump’s extreme agenda.

    You don’t work for Donald Trump. You don’t work for Elon Musk. You don’t work for the far-right extremists. You work for the American people.

    As Democrats, we will fight as hard as we can, fight as hard as we can, over the next two years to stop bad things from happening. We will protect our system of free and fair elections.

    And then work hard to convince the American people to entrust us with the majority next November. At that point, we will be able to do much, much more for you.

    We will build an affordable economy that works for everyday Americans. We will confront the climate crisis with the fierce urgency of now. We will block any budget that goes after your Social Security, Medicare or Medicaid. And we will hold the Trump administration accountable for its corrupt abuse of power.

    Over these next 100 days, House Democrats are going to lay out a blueprint for a better America. And you will see a vision for this country’s future that isn’t about Donald Trump. It’s all about you. All about you. How can we make your life better? How can we put more money in your pocket? How can we lower your costs? How can we help you give your kids the future they deserve? These are the questions we are thinking about each and every day.

    Now, the American Dream isn’t about getting something for nothing. You have to work for it. But if you work hard and play by the rules, here’s what you should be able to have: A good-paying job. An affordable home. High-quality healthcare. Education for your children. And the ability to retire with grace and with dignity. That’s the American Dream. That’s the American Dream. That’s the American Dream. And when we’re back in charge, that’s what we will fight hard to deliver for you. 

    In January—late January—I had the opportunity to visit the Altadena community in Los Angeles County that was devastated by the wildfires. I met someone named Jackie Jacobs, an amazing 88-year-old woman who was raised in the Jim Crow South before moving to California. Her home was tragically burned to the ground.  She and her husband, David, who have been married for more than 50 years, barely managed to escape the raging wildfires. All they had was the clothing on their backs. They lost everything else. Photos gone. Possessions gone. Property gone. But the first thing Mrs. Jacobs said to us while touring the devastation was that she gave all glory, all praise and all honor to Almighty God—just as the Scripture teaches us. She believed that things would work out. Several of us teared up. Mrs. Jacobs lost everything, but she never lost her faith. She never lost her faith.

    Republicans have shown that their recipe for governing is chaos, cruelty and corruption. These first 100 days have not been easy. Everything we care about is under assault. The economy is under assault. Healthcare is under assault. Social Security is under assault. Veterans are under assault. Farmers are under assault. The right to organize is under assault. Public schools are under assault. The American way of life is under assault. Democracy itself is under assault. Everything we care about is under assault. 

    But just like Mrs. Jacobs, we must never lose faith. We must never lose faith. Faith in our community. Faith in our country. Faith in a brighter future. Faith in Almighty God. 

    America is a resilient nation. We are a resilient people. We have a resilient Constitution. We will never give up.  We will never give in. We will always show up. We will always speak up. We will always stand up. We will continue our march toward a more perfect union. We will not rest until we end this national nightmare and deliver an America with liberty and justice for all.

    God bless you. God bless our troops. May God continue to bless the United States of America.

    Full speech can be viewed here.

    ###

    MIL OSI USA News –

  • MIL-OSI: Calian to Hold Conference Call Following Announcement of Second Quarter FY 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, April 30, 2025 (GLOBE NEWSWIRE) — Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, will hold a conference call at 8:30 a.m. Eastern Time on Wednesday, May 14, 2025, to discuss results for the three-month period ended March 31, 2025. The results will be released before markets open.

    Interested participants from the financial and media community should join the live presentation by going to the Calian website and clicking on the Investors section to find the conference call link or directly via the following URL: https://edge.media-server.com/mmc/p/b8tamp8d/

    A replay of the audio webcast will be available at the same location a few hours after the conclusion of the call.

    About Calian

    www.calian.com

    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners.  

    Media inquiries:
    media@calian.com
    613-599-8600

    Investor Relations inquiries:
    ir@calian.com

    —————————————————————————–

    DISCLAIMER

    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    The MIL Network –