Category: Pandemic

MIL-Evening Report: Rebates for buying e-bikes and e-scooters are good but unlikely to greatly boost sustainable transport on their own

Source: The Conversation (Au and NZ) – By Abraham Leung, Senior Research Fellow, Cities Research Institute, Griffith University

BikePortland/Flickr, CC BY

Queensland has joined Tasmania as the second Australian state or territory to offer a A$500 rebate for buyers of new e‑bikes. The pre-election announcement includes a smaller $200 rebate for e‑scooters.

The Queensland e‑mobility rebate scheme is first come, first served, until its $2 million budget ($1 million was added last week) is used up. The Tasmanian scheme has closed for this reason.

These schemes follow a trend of government incentives to buy e‑bikes in North America and Europe. The Australian schemes differ from most schemes overseas by including e‑scooters too.

It’s a welcome move to promote sustainable transport. These personal transport devices have smaller environmental footprints to produce and operate than electric cars. Owning e‑bikes or e‑scooters can enable people to drive less – reducing congestion and emissions – and avoid high fuel costs.

However, my research and other studies suggest ownership doesn’t guarantee much greater use. Additional measures will be needed to boost use of these sustainable transport modes.

Why own e-bikes or e-scooters when you can share?

The rebate is likely to boost retailers’ sales. More than 860 rebate applications were received within three days of the scheme starting on September 23.

And existing owners now have an incentive to upgrade or replace models. They might then sell their pre-loved e‑bikes or e‑scooters on the second-hand market. This means others could get them more cheaply.

Queensland was the first Australian state to legalise the use of e‑scooters in 2018, when Brisbane introduced shared e‑scooter operations. Regional cities such as Townsville and Cairns launched similar schemes. Dockless e‑bikes later replaced Brisbane’s initial CityCycle bike-sharing scheme.

I recently conducted research to understand why South-East Queensland residents want to own e‑scooters. The study methods were comparable to an earlier e‑bike user survey.

Both sets of owners cite replacing car use as their top reason for ownership. However, their motivations differ.

E‑scooter owners are mainly driven by the lower price and the fun factor of riding. E‑bike owners focus more on fitness and the health benefits of getting some exercise when riding. Australian regulations require e‑bikes to be pedal-assisted.

But does this mean people will ride more?

Since 2022, the Queensland government has offered a rebate of up to $6,000 for buying full-sized electric vehicles (that scheme closed last month). It now appears to have responded to calls to do the same for e‑bikes and e‑scooters.

Buyers certainly won’t mind freebies and rebates, but rebate-induced ownership might not increase overall use by much.

An Australia-wide survey in 2023 found 57% of respondents had access to at least one working bicycle at home and this proportion has been increasing. However, only 15% reported riding in the previous week. Only 36.7% had ridden in the past year.

Overall cycling participation has declined over the past decade, except during the COVID pandemic when work and travel patterns were more local. For all periods, men are significantly more likely to cycle than women.

The same 2023 survey revealed only about 2.1% own e‑bikes. The rebate will likely increase this rate in Queensland.

Some preliminary evidence suggests e‑bike users ride more often and further than those riding non-electric bikes. It also helps older people get into cycling. And it has the potential to replace car use even in rural areas.

Despite e‑bikes offering advantages over traditional bikes, riders of both face obstacles to greater use, such as road safety and poor cycling infrastructure.

What kinds of incentives do other countries offer?

Australian policymakers should consider offering incentives to ensure the new purchases are well used, not sitting idle most of the time.

The United Kingdom has a long-standing cycle-to-work scheme that offers commuters a tax exemption for buying bicycles or e‑bikes.

In the Netherlands, incentive schemes have used smartphone technology to track their mileage. For example, in the B-Riders scheme, riders earn €0.08–0.15 (A$0.13–0.21) per kilometre. There was a 68% increase in e‑bike use by former car commuters after one month and 73% increase after six months of participation.

Schemes in North America tend to be aimed at lower-income households. They are more likely to be involuntarily carless, so e‑bikes can improve their access to jobs, goods and services.

There are alternatives to rebates. North Vancouver, for example, is trialling e‑cargo bike lending to replace car shopping trips, as these bulky bikes are not practical for every household to own.

In France, residents can claim a bike or e‑bike subsidy of up to €2,000 (A$3,210). Second-hand devices sold by approved repairers are covered too, which is likely to help reduce e‑waste. Australian schemes so far only cover new purchases.

What more can be done?

For e‑bike and e‑scooter owners, the main barrier to riding more is the lack of safe and well-connected infrastructure. Numerous studies have connected rates of riding to the quality and quantity of infrastructure. Extensive, high-quality and safe cycling networks can deliver lasting shifts towards sustainable transport.

When the Spanish city of Seville built such networks, cycling rates surged 11-fold in a few years.

In the Netherlands, this infrastructure is so well-funded and extensive that it’s no surprise cycling is popular there.

Riders don’t just need bikeways. They also need end-of-trip facilities with secure parking (and maybe free charging too).

In Australia, cycling gets only around 2% of transport funding.

In Brisbane, despite not being anywhere close to the European level of cycling infrastructure, new “green bridges” and bikeways will be expanded to more areas of the city (and other Queensland venues). It’s part of preparations to host “climate-positive” Olympic and Paralympic Games in 2032. This year’s games host, Paris, successfully upgraded infrastructure and boosted cycling rates.

Another benefit of more riders on the streets is that it creates “safety in numbers”. Greater numbers would also help attract more funding for infrastructure that makes cycling and scooting safer and more attractive.

Both e‑bikes and e‑scooters are already worthwhile investments. Using them often would free yourself from car dependence – and that’s good for the planet and your wallet.

Abraham Leung received funding from the Transport Academic Partnership (Queensland Department of Transport and Main Roads (TMR) and the Motor Accident Insurance Commission) and the Transport Innovation and Research Hub (Brisbane City Council, BCC). The data from the Privately Owned Electric Mobility User Survey (POEMUS) used in this article is funded and commissioned by BCC.

His current Advance Queensland Industry Research Fellowship is funded and/or partnered with TMR, BCC, Townsville City Council, and micromobility operators Neuron and Beam. He is also an active member of PedBikeTrans.

– ref. Rebates for buying e-bikes and e-scooters are good but unlikely to greatly boost sustainable transport on their own – https://theconversation.com/rebates-for-buying-e-bikes-and-e-scooters-are-good-but-unlikely-to-greatly-boost-sustainable-transport-on-their-own-239939

MIL OSI Analysis – EveningReport.nz –

January 23, 2025
MIL-Evening Report: Our new study shows life expectancy is stagnating for Australians under 50
Source: The Conversation (Au and NZ) – By Sergey Timonin, Research Fellow in Demography, School of Demography, Australian National University

Global life expectancy has increased dramatically over the past century, with Australia among the best performing countries.

But during the last two decades, some high-income countries have reported stagnation or even declining life expectancy, particularly the United States and the United Kingdom.

Could this indicate a broader decline in health advancements in English-speaking countries? Our new study compared life expectancy between English-speaking countries and against other high-income countries.

We found Australians born between 1930 and 1969 continue to do exceptionally well for life expectancy. But the picture for those under 50 is not so rosy – life expectancy is stagnating for that younger group.

Why measure life expectancy?

Life expectancy is a valuable and widely used measure to examine health trends and patterns over time and compare different places or population groups.

It estimates the average number of years a person would be expected to live. This is calculated using the mortality – or death rates – across different age groups within a specific period. When death rates fall, life expectancy rises, and vice versa.

Life expectancy can tell a story about a population’s overall health.
Christian Wiediger/Shutterstock

Not only does life expectancy tell us about mortality in a population, it is indirectly a measure of overall population health. Most leading causes of death in high-income countries are chronic diseases. These typically affect the health of a person for multiple years before their death.

Stagnations or reversals in life expectancy can be warning signs of both longstanding and emerging health problems.

Nobel Prize-winning economist Amartya Sen has also pointed to mortality as a key indicator of economic success and failure. This makes it a powerful tool for researchers and policymakers.

Thanks to a long and largely standardised tradition of collecting mortality statistics across high-income countries, researchers are able to carry out in-depth, comparative studies. This can help uncover how specific causes of death have contributed to the changes in life expectancy.

What we did

In our study, we analysed mortality trends and patterns in a broader group of English-speaking countries and compared them with other high-income countries. English-speaking countries have shown similarities in recent mortality trends and their causes, such as patterns of drug overdose and obesity prevalence.

Our analysis focuses on six high-income English-speaking countries: Australia, Canada, Ireland, New Zealand, the UK and US. We compared them with the average in 14 other high-income, low-mortality countries from Western Europe (such as France and Norway), plus Japan. This was the “comparison group”.

We used data from 1970 onwards from well-established, comprehensive sources of high-quality mortality data: the Human Mortality Database and World Health Organization Mortality Database.

For each English-speaking country and the comparison group, we estimated:
- life expectancy at birth
- partial life expectancy between ages 0 and 50 years
- remaining life expectancy at age 50
- average length of life.
Looking at average length of life helps to compare the mortality of the birth cohorts (people born in the same calendar year) as they age. This measure is the closest way to estimate how long people in different populations actually live, and can be used to assess the differences in survival between populations.

First we looked at how age and causes of death were contributing to a gap between English-speaking countries and the comparison group. Then we compared the average length of life of different birth cohorts.

What we found

In the pre-COVID period, both men and women in Australia had a higher life expectancy at birth, compared to the non-English speaking comparison group (the average between those 14 countries). This was also true for men in Ireland, New Zealand and Canada. In the UK and US, however, life expectancy at birth was lower for both men and women, compared to the non-English speaking group.

But the most striking finding was the difference in mortality for those under 50 in English-speaking versus non-English speaking countries.

Relatively high death rates for those under 50 dragged the overall life expectancy at birth down for each English-speaking country, including Australia. Suicides and drug or alcohol-related deaths were the main reason for these trends.

But over age 50, Australia performs exceptionally well in life expectancy for both men and women. Australians born in the 1930s-60s are likely to live longer than those in the non-English speaking comparison group and all other English-speaking countries. But Australians born in the 1970s onwards had lower life expectancy than the comparison group.

This means overall, life expectancy at birth in Australia is higher than the average for the non-English group. But when you break it down by age, the results show a clear distinction in life expectancy according to when you were born.

For example, in 2017-19 , male life expectancy between ages 0 and 50 years was 0.3 years lower in Australia compared to the average for the non-English group, while remaining life expectancy at age 50 was 1.45 years higher.

What this means

Our study shows a worrying trend for people born from the 1970s onwards. This is true in all English-speaking countries, even before accounting for the negative impacts of the COVID pandemic in places like the UK and US.

In Australia, the results point to significant generational differences in life expectancy compared to other high-income countries. If the relatively high mortality rates of Australians born from the 1970s onwards continue into the future, then the gains in Australian life expectancy will likely slow. Our status as having one of the highest life expectancies of any country will diminish.

Our research aimed to examine trends and potential causes of stagnating life expectancy, rather than make policy recommendations.

But the results suggest real improvement could come through measures that reduce inequality and structural disadvantages that lead to poor health outcomes, such as improving access to education and security of employment and housing, supporting mental health and drug-related safety, and addressing diseases like obesity and diabetes.

Sergey Timonin receives funding from the Australian Research Council (DP210100401).

Tim Adair receives funding from the Australian Research Council.

– ref. Our new study shows life expectancy is stagnating for Australians under 50 – https://theconversation.com/our-new-study-shows-life-expectancy-is-stagnating-for-australians-under-50-240790
MIL OSI Analysis – EveningReport.nz –
January 23, 2025
MIL-OSI Global: Canadian urban mobility is woefully lacking, but building a better future is still possible

Source: The Conversation – Canada – By Betsy Donald, Professor, Department of Geography and Planning, Queen’s University, Ontario

Canadian cities are falling behind globally when it comes to efficiently moving people. Long commute times, high congestion rates and infrastructure that is vulnerable to climate change are symptoms of a mobility crisis.

Mobility is an essential public good, and modern policies aim to move people in a safe, efficient, accessible and non-polluting way. However, the COVID-19 pandemic exposed and worsened existing vulnerabilities in Canada’s urban mobility systems, undermining progress toward these goals.

Our new book, Urban Mobility: How the iPhone, COVID, and Climate Changed Everything, explores how technology, the pandemic and climate change have shaped, and continue to shape, urban mobility, particularly for those with inadequate transportation networks.

Population growth outpacing transit

One of the primary challenges Canadian cities face is that they have grown faster than their sustainable transportation options. While urban populations have expanded, investment in public transportation has not kept pace, resulting in a gap between capacity and potential.

The COVID-19 pandemic also impacted city life in profound ways, and urban life and economies in Canada are still being affected to this day. Remote work became the norm for many, reducing the number of people commuting and causing a significant drop in public transit ridership.

Additionally, the shift to hybrid work has permanently altered how Canadians engage with their cities. People are shopping online more, using public transit less, and central business districts and physical retail spaces are seeing less foot traffic.

Urban economies, which have been designed to rely heavily on the movement and presence of large numbers of people through public transit and local businesses, are still grappling with this new reality. Activity levels, for instance, are down by about 20 per cent from pre-pandemic levels in many downtown spaces still.

Tech platforms and mobility

Digital platform firms like Zoom, Uber, Amazon and Instacart adapted quickly during the pandemic, offering safe work-from-home options, private transportation and online shopping services to people. These platforms disrupted the traditional urban economic model, which relies on transit, physical stores and foot traffic.

Ride-hailing services drew passengers and their fares away from local economies into foreign-owned ride-hailing companies. Transit systems not only depend on the massive built public infrastructure, but also passenger fares and other government funding to maintain the public system over time.

In addition, these tech platform companies come with equity and accessibility concerns. Research on the use of ride-hailing and public transit during the pandemic found that its usage in Toronto was clearly organized along class, neighbourhood and social lines. People identifying as one or more of the following were more likely to continue riding transit during the pandemic: low-income, immigrant, racialized, essential workers and car-less, in large part because other options were not available to them.

Similarly, in Calgary, private technology experiments in electric scooters privileged wealthier neighbourhoods. Electric scooters were used more in wealthier neighbourhoods, and as poverty levels increased at the neighbourhood level, the use of them dropped. The researchers concluded that greater attention needs to be paid to ensuring all communities, regardless of economic status, have access to micro-mobility options.

Canada has a history of importing technological solutions, rather than creating its own. Montréal, however, offers a successful example with its Bixi bike program, the third largest bike share system in North America after New York and Chicago, with 11,000 bikes and almost 900 stations. A non-profit runs the program, Rio Tinto Alcan provides aluminum for the bikes and Cycles Devinci manufactures them in Saguenay-Lac-Saint-Jean.

Canadian cities need to build innovation opportunities that promote economic development and improve mobility at the same time. Canada’s technology sector is woefully undersupported at present.

Bixi bikes stand on Sainte-Catherine Street in Montréal in August 2019. The City of Montréal bought the bike sharing system in 2014 and created a non-profit entity to run the bike sharing operations.
(Shutterstock)

Climate crisis intensifying challenges

The third, and perhaps most pressing challenge facing Canadian cities is the growing climate crisis. Cities are both instigators and victims of climate change. They contribute significantly to greenhouse gas emissions, but are also heavily impacted by severe weather events, heat waves and other side effects.

These impacts are becoming increasingly concerning with the intensification of wildfires, urban flooding and other extreme weather events.

By the end of the 20th century, most large Canadian cities were heavily investing in strategies to encourage people to use alternatives to cars, such as transit, light rail, biking and walking.

However, shifting priorities, ideologies and budgetary adjustments led to government cutbacks to transit funding and a lack of new transportation innovation. In Ontario, for example, the government continues to push unrealistic road-building ideas at the expense of more active transit options.

This failure to effectively move people around has left an opening for new mobility experiments led by private companies, but some of these programs don’t really integrate well into the Canadian urban mobility ecosystem. Many of these mobility options — such as ride-hailing — are also costly and exclusive. Others, like electronic scooters, can lead to e-waste.

Building a better future

The disruptions caused by technology, the pandemic and climate change are reshaping how people and goods move in cities. To build a better future, Canadian cities must address the interconnected challenges of three transitions: digital, health and environmental.

While all sectors need to invest, strong leadership and policy action from governments at all levels is needed to create a more climate-friendly, economically vibrant and equitable urban mobility future. Governments will need to embrace bold, innovative solutions that address all three of these challenges.

This means policy frameworks that reduce carbon emissions through climate action plans, leveraging political will and funding in efforts to shift away from private automobiles and toward transit, bike lanes and pedestrian pathways, and experimenting with digital mobility services while still prioritizing sustainability.

Betsy Donald receives funding from the Social Sciences and Humanities Research Council of Canada.

Shauna Brail receives funding from the Social Sciences and Humanities Research Council of Canada.

– ref. Canadian urban mobility is woefully lacking, but building a better future is still possible – https://theconversation.com/canadian-urban-mobility-is-woefully-lacking-but-building-a-better-future-is-still-possible-239679

MIL OSI – Global Reports –

January 23, 2025
MIL-OSI Economics: Reimagining Poverty Solutions – seeking new ways to connect politics, measurement, and policy action in Latin America and the Caribbean

Source: CAF Development Bank of Latin America

Reintroducing Poverty to the Forefront of Public Debate

Reducing poverty requires a strong political commitment from all sectors of society. To accelerate progress, it is imperative to re-establish poverty as a central issue in public debate. In recent years, the focus on poverty has been overshadowed by a series of severe crises affecting the region. Beyond the significant impact of the COVID-19 pandemic, the escalating climate crisis, with massive fires in areas like the Amazon and the Chaco, and increased flooding in other regions, has had a devastating effect. Governance crises have also emerged, including in countries that traditionally excelled in economic growth and poverty reduction, such as Chile. Moreover, migration crises, once primarily directed towards the United States, have now developed an intraregional dimension, imposing pressure on public expenditure and, at times, leading to conflicts within recipient communities. Violence has spread to previously peaceful countries, with organized crime posing an ever-greater threat. These crises have diverted attention away from the poverty debate, even though poverty remains a fundamental factor in each of these challenges.

Public discourse should stimulate action and encourage a more ambitious discussion on the determinants of poverty and their policy implications. Key determinants such as high inequality, sluggish economic growth, environmental degradation, entrenched power structures, inadequate social protection systems, ineffective governance, a fragile rule of law, an unfavorable business environment, low female labor force participation, informality, crime and violence, and a lack of innovation, have all been identified as determinants of poverty in the region (UNDP, 2021; IMF, 2024; CODS, 2020). A comprehensive debate is needed to distil the most critical aspects and understand their interconnections to optimize efforts towards achieving sustainable development and equitable growth.

Furthermore, public debate is essential concerning the data needed to make meaningful progress in poverty reduction. While the availability of data in the region has improved, there remain issues related to periodicity, potential for disaggregation, and gaps in crucial topics. For example, the inability to link data on crime and violence with poverty data hampers a comprehensive understanding of these phenomena. Thus, a rigorous debate on where to channel limited resources for data collection is vital to generate robust data that can effectively guide policy decisions.

New Instruments for Poverty Reduction

As previously highlighted, economic growth and the widespread implementation of conditional cash transfer programs have played a pivotal role in reducing income poverty across the region in recent decades. However, from 2015 onwards, the pace of poverty reduction began to slow due to declining growth rates, a trend further exacerbated by the COVID-19 pandemic. Three years after the crisis, income poverty levels in the region are only now returning to pre-pandemic figures (The World Bank, 2023). Yet, economic growth—and consequently, the fiscal capacity to fund poverty reduction initiatives—remains constrained, with regional GDP projected to expand by merely 1.6% in 2024, 2.7% in 2025, and 2.6% in 2026, rates insufficient to generate widespread prosperity (The World Bank, 2024).

Given this, the principal mechanisms that drove poverty reduction in previous years must be supplemented with innovative tools capable of maximizing poverty alleviation within a restricted fiscal environment. Aspects such as strategic planning, effective coordination, rigorous monitoring, and efficient expenditure will become increasingly crucial in the coming years. The region must foster innovation and develop a new generation of poverty reduction strategies and instruments that can effectively complement the existing frameworks.

Strengthening the Integration of Poverty Reduction Strategies with National Policies

In many cases, significant national policies that have a direct impact on poverty are formulated and implemented without a clear analysis or identification of their connections to the country’s poverty reduction strategy. Policies in areas such as energy, productivity, private sector development, and environmental or climate change often have profound implications for poverty alleviation. However, these policies are frequently designed with sector-specific objectives and within a growth-oriented framework, rather than with a focus on poverty reduction. Strengthening these connections can facilitate valuable cross-fertilization between different policy agendas, thereby accelerating efforts to reduce poverty.

MIL OSI Economics –

January 23, 2025
MIL-Evening Report: Canadian urban mobility is woefully lacking, but building a better future is still possible

Source: The Conversation (Au and NZ) – By Betsy Donald, Professor, Department of Geography and Planning, Queen’s University, Ontario

Canadian cities are falling behind globally when it comes to efficiently moving people. Long commute times, high congestion rates and infrastructure that is vulnerable to climate change are symptoms of a mobility crisis.

Mobility is an essential public good, and modern policies aim to move people in a safe, efficient, accessible and non-polluting way. However, the COVID-19 pandemic exposed and worsened existing vulnerabilities in Canada’s urban mobility systems, undermining progress toward these goals.

Our new book, Urban Mobility: How the iPhone, COVID, and Climate Changed Everything, explores how technology, the pandemic and climate change have shaped, and continue to shape, urban mobility, particularly for those with inadequate transportation networks.

Population growth outpacing transit

One of the primary challenges Canadian cities face is that they have grown faster than their sustainable transportation options. While urban populations have expanded, investment in public transportation has not kept pace, resulting in a gap between capacity and potential.

The COVID-19 pandemic also impacted city life in profound ways, and urban life and economies in Canada are still being affected to this day. Remote work became the norm for many, reducing the number of people commuting and causing a significant drop in public transit ridership.

Additionally, the shift to hybrid work has permanently altered how Canadians engage with their cities. People are shopping online more, using public transit less, and central business districts and physical retail spaces are seeing less foot traffic.

Urban economies, which have been designed to rely heavily on the movement and presence of large numbers of people through public transit and local businesses, are still grappling with this new reality. Activity levels, for instance, are down by about 20 per cent from pre-pandemic levels in many downtown spaces still.

Tech platforms and mobility

Digital platform firms like Zoom, Uber, Amazon and Instacart adapted quickly during the pandemic, offering safe work-from-home options, private transportation and online shopping services to people. These platforms disrupted the traditional urban economic model, which relies on transit, physical stores and foot traffic.

Ride-hailing services drew passengers and their fares away from local economies into foreign-owned ride-hailing companies. Transit systems not only depend on the massive built public infrastructure, but also passenger fares and other government funding to maintain the public system over time.

In addition, these tech platform companies come with equity and accessibility concerns. Research on the use of ride-hailing and public transit during the pandemic found that its usage in Toronto was clearly organized along class, neighbourhood and social lines. People identifying as one or more of the following were more likely to continue riding transit during the pandemic: low-income, immigrant, racialized, essential workers and car-less, in large part because other options were not available to them.

Similarly, in Calgary, private technology experiments in electric scooters privileged wealthier neighbourhoods. Electric scooters were used more in wealthier neighbourhoods, and as poverty levels increased at the neighbourhood level, the use of them dropped. The researchers concluded that greater attention needs to be paid to ensuring all communities, regardless of economic status, have access to micro-mobility options.

Canada has a history of importing technological solutions, rather than creating its own. Montréal, however, offers a successful example with its Bixi bike program, the third largest bike share system in North America after New York and Chicago, with 11,000 bikes and almost 900 stations. A non-profit runs the program, Rio Tinto Alcan provides aluminum for the bikes and Cycles Devinci manufactures them in Saguenay-Lac-Saint-Jean.

Canadian cities need to build innovation opportunities that promote economic development and improve mobility at the same time. Canada’s technology sector is woefully undersupported at present.

Bixi bikes stand on Sainte-Catherine Street in Montréal in August 2019. The City of Montréal bought the bike sharing system in 2014 and created a non-profit entity to run the bike sharing operations.
(Shutterstock)

Climate crisis intensifying challenges

The third, and perhaps most pressing challenge facing Canadian cities is the growing climate crisis. Cities are both instigators and victims of climate change. They contribute significantly to greenhouse gas emissions, but are also heavily impacted by severe weather events, heat waves and other side effects.

These impacts are becoming increasingly concerning with the intensification of wildfires, urban flooding and other extreme weather events.

By the end of the 20th century, most large Canadian cities were heavily investing in strategies to encourage people to use alternatives to cars, such as transit, light rail, biking and walking.

However, shifting priorities, ideologies and budgetary adjustments led to government cutbacks to transit funding and a lack of new transportation innovation. In Ontario, for example, the government continues to push unrealistic road-building ideas at the expense of more active transit options.

This failure to effectively move people around has left an opening for new mobility experiments led by private companies, but some of these programs don’t really integrate well into the Canadian urban mobility ecosystem. Many of these mobility options — such as ride-hailing — are also costly and exclusive. Others, like electronic scooters, can lead to e-waste.

Building a better future

The disruptions caused by technology, the pandemic and climate change are reshaping how people and goods move in cities. To build a better future, Canadian cities must address the interconnected challenges of three transitions: digital, health and environmental.

While all sectors need to invest, strong leadership and policy action from governments at all levels is needed to create a more climate-friendly, economically vibrant and equitable urban mobility future. Governments will need to embrace bold, innovative solutions that address all three of these challenges.

This means policy frameworks that reduce carbon emissions through climate action plans, leveraging political will and funding in efforts to shift away from private automobiles and toward transit, bike lanes and pedestrian pathways, and experimenting with digital mobility services while still prioritizing sustainability.

Betsy Donald receives funding from the Social Sciences and Humanities Research Council of Canada.

Shauna Brail receives funding from the Social Sciences and Humanities Research Council of Canada.

– ref. Canadian urban mobility is woefully lacking, but building a better future is still possible – https://theconversation.com/canadian-urban-mobility-is-woefully-lacking-but-building-a-better-future-is-still-possible-239679

MIL OSI Analysis – EveningReport.nz –

January 23, 2025
MIL-OSI USA: 10.08.2024 ICYMI: Sen. Cruz Demands Transparency on Tim Walz’s Ties to the Wuhan Institute of Virology

US Senate News:

Source: United States Senator for Texas Ted Cruz

WASHINGTON, D.C. – In case you missed it, last week, U.S. Sen. Ted Cruz (R-Texas) sent a letter to the Hormel Institute regarding its partnership with the Wuhan Institute of Virology (WIV) and financial resources secured for the Hormel Institute by Governor Tim Walz. The WIV has been credibly implicated as the point of origin of COVID-19 and conducts its activities under the auspices of the Chinese Communist Party.
In the letter, Sen. Cruz wrote, “For over a decade, Governor Tim Walz has acted as one of the Institute’s most ardent supporters, securing millions of taxpayer dollars to fund its operations, including over $2 million in federal funding for technology acquisitions and a $5 million earmark to expand your Institute’s reach. The Governor’s support for the Hormel Institute has remained steadfast, continuing even after the FBI concluded on February 28, 2023 that COVID-19 pandemic likely originated from the WIV.
“Governor Walz’s personal connections to China—his honeymoon there, over 30 trips, and public comments downplaying the strategic threat posed by the CCP13—only raise further questions about his motivations for promoting your institution.
“Your institute’s ongoing partnership with the Wuhan Institute of Virology, and by extension the People’s Liberation Army, reflects a troubling disregard for national security concerns…The American people deserve assurance that their resources and institutions are not inadvertently supporting the goals of our chief geopolitical adversary.”
Read the full letter here or below:
Dear Director Clarke:
I write to you today with growing concern regarding the Hormel Institute’s longstanding partnership with China’s Wuhan Institute of Virology (WIV).
The WIV, as you are certainly aware, has been credibly implicated as the likely point of origin of the COVID-19 pandemic. Even more troubling are its direct ties to China’s People’s Liberation Army (PLA) and its involvement in classified military research including laboratory animal experiments under the auspices of the Chinese Communist Party (CCP) at least as recently as 2017. Despite these alarming connections which raise obvious national security concerns, the institute you lead has not only maintained its collaboration with WIV but it has done so with the backing of Minnesota’s top elected official.
For over a decade, Governor Tim Walz has acted as one of the Institute’s most ardent supporters, securing millions of taxpayer dollars to fund its operations, including over $2 million in federal funding for technology acquisitions and a $5 million earmark to expand your Institute’s reach. The Governor’s support for the Hormel Institute has remained steadfast, continuing even after the FBI concluded on February 28, 2023 that COVID-19 pandemic likely originated from the WIV.
In recent years, researchers at the Hormel Institute have collaborated with the Wuhan Institute of Virology on a variety of projects, including a 2020 COVID-19 study and, as more recently as of 2024, on structural biology research.
The COVID-19 study, titled “A dynamic regulatory interface on SARS-CoV-2 RNA polymerase,” was authored by four WIV researchers, three Hormel Institute researchers, and a Yale School of Medicine professor. Similarly, in January 2024, Hormel Institute researchers published a study on genes with the WIV’s Lina He, Wei Zhou, and Yangbo Hu. In 2023, WIV’s Yangbo Hu also worked with the Hormel Institute’s Dmytro Kompaniiets, Dong Wang, and Bin Liu on research titled “Structure and molecular mechanism of bacterial transcription activation,” among other collaborations.
Furthermore, the resignation of your predecessor, Dr. Zigang Dong, who served as Executive Director for nearly 18 years and resigned following an FBI investigation into his “possible failure to disclose foreign backing when applying for grants,” should have prompted a thorough reassessment of your institute’s engagements with foreign entities. Yet, despite this disconcerting event, Governor Walz continues to promote and direct public resources to your institute. Even after the U.S. government ceased funding to organizations working with the WIV, Governor Walz toured your facility and publicly praised its work.
Governor Walz’s personal connections to China—his honeymoon there, over 30 trips, and public comments downplaying the strategic threat posed by the CCP—only raise further questions about his motivations for promoting your institution.
Additionally, in 2020, the Hormel Institute’s disclosure in a 2020 EMBO Journal Study that it received “help from the Core Facility and Technical Support” of the WIV for “radioactive and fluorescent tests” adds to the concern. Further raising suspicions is that Bin Liu, a professor at the Hormel Institute who worked on that 2020 EMBO Journal study, attended Wuhan University. Federal records indicate that the researchers for this particular study included those affiliated with the WIV, in addition to the University of Chinese Academy of Sciences and China’s Zhengzhou University.
In light of these recently-disclosed facts, it is critical to understand the full extent of your institute’s involvement in a partnership that risks benefitting our nation’s chief geopolitical adversary. Accordingly, for the purposes of oversight, I request that you respond to the following questions and requests by October 31, 2024:
1. How much public and private funding has the Hormel Institute received specifically for projects involving collaboration with the Wuhan Institute of Virology (WIV)? Please provide an itemized accounting of all such funding.
2. When did the Hormel Institute first initiate collaboration with the WIV, and what were the specific reasons for choosing to partner with a facility known to have ties to China’s People’s Liberation Army?
3. What actions has the Hormel Institute taken to ensure that its collaborative work with the WIV does not benefit China’s military or pose a risk to U.S. national security?
a. If no such actions were taken, what was the rationale behind this decision?
4. Given the WIV’s ties to China’s military, why has the Hormel Institute not publicly disclosed the full extent of its collaborations with the WIV?
a. If this information has been withheld, please explain why.
5. Please provide all internal documentation or communications related to the Hormel Institute’s partnerships with Chinese research facilities, including but not limited to the WIV.
6. What was the Institute’s reasoning behind continuing its collaboration with the WIV, even after serious concerns about the origins of COVID-19 and the lab’s military affiliations became widely known?
7. How can the American public trust that the Hormel Institute’s partnerships with the WIV are not inadvertently advancing China’s geopolitical goals, particularly in biotechnology and biomedical research?
8. Given the U.S. government’s cessation of funding to other nonprofits with ties to the WIV, what justifications does the Hormel Institute offer for continuing its relationship with the WIV?
9. Why did the Hormel Institute continue collaborating with the WIV after your predecessor, Dr. Zigang Dong, resigned amid an FBI investigation into his failure to disclose foreign funding when applying for grants?
10. The Hormel Institute’s work with the WIV includes research on gene structures and SARS-CoV-2 RNA polymerase. What measures have been taken to ensure that no sensitive intellectual property or technology has been transferred to China’s military-backed labs during these studies? If no measures were taken, why not?
11. Please provide any documentation or communications between the Hormel Institute and the Office of the Minnesota Governor regarding the Institute’s partnerships with Chinese research facilities, particularly the WIV.
Your institute’s ongoing partnership with the Wuhan Institute of Virology, and by extension the People’s Liberation Army, reflects a troubling disregard for national security concerns. The devastating impact of COVID-19 has highlighted the seriousness of these issues, as the pandemic has severely affected lives and economies worldwide. The American people deserve assurance that their resources and institutions are not inadvertently supporting the goals of our chief geopolitical adversary. As Executive Director, it is crucial that you address these concerns transparently. Failure to do so will only deepen public mistrust and undermine confidence in your institute’s integrity and intentions.
The American people look forward to your timely and comprehensive response.
Sincerely,
/X/

MIL OSI USA News –

January 23, 2025
MIL-OSI China: China, ASEAN countries reap fruits of high-quality development via Belt and Road cooperation

Source: People’s Republic of China – State Council News

China, ASEAN countries reap fruits of high-quality development via Belt and Road cooperation

An aerial drone photo taken on July 31, 2024 shows a view of Qinzhou Port in Qinzhou, south China’s Guangxi Zhuang Autonomous Region. [Photo/Xinhua]

BEIJING, Oct. 8 — Chinese Premier Li Qiang will attend the 27th China-ASEAN Summit, the 27th ASEAN Plus Three Summit and the 19th East Asia Summit in the Lao capital Vientiane starting from Wednesday, and pay official visits to Laos and Vietnam.

While pursuing high-quality development and advancing modernization, China has been offering new growth momentum to its neighbors connected by mountains and rivers, notably through Belt and Road cooperation with common development being a highlight.

Experts said that Li’s upcoming trip to the Association of Southeast Asian Nations (ASEAN) is expected to boost bilateral relations, foster deeper and more substantive cooperation, and enhance people-to-people exchanges, which will further catalyze regional peace, stability and prosperity.

ENHANCING CONNECTIVITY

Laos is a landlocked country in Southeast Asia. Its landscape, largely covered by rugged mountains and high plateaus, forms natural barriers to efficient transportation, hindering the country’s development and the improvement of people’s livelihood.

The China-Laos Railway has helped transform the country’s predicament into a growth opportunity, turning Laos into a land-linked hub on the Indo-China Peninsula.

Passengers are seen at the Vientiane Station of the China-Laos Railway in Vientiane, Laos, April 11, 2024. [Photo/Xinhua]

The 1,035-km railway, a landmark Belt and Road project, connects Kunming in southwest China’s Yunnan Province with Vientiane.

Nearly three years into operation, the railway has handled over 10 million tons of imported and exported goods valued at about 5.7 billion U.S. dollars in total, with varieties of goods expanding from the initial 500 to more than 3,000, according to official data.

Since the railway launched its international passenger service in April 2023, it has transported over 222,000 cross-border passengers as of early July this year, providing affordable, convenient and comfortable experiences to travelers.

Daovone Phachanthavong, vice executive president of the Lao National Chamber of Commerce and Industry, told Xinhua the China-Laos Railway “has promoted regional connectivity and injected vitality into economic and social development along the line.”

Vietnam, a neighbor of Laos, has enjoyed enhanced connectivity and more efficient logistics from infrastructure cooperation with China as well, which includes railway, expressway and port infrastructure.

China-Vietnam freight trains are a good case in point. Since its launch in November 2017, the service has significantly boosted rapid cargo movement between the two countries and further into Southeast Asia.

“China has strengths in capital, technology, and experience in infrastructure construction, while Vietnam is in need of infrastructure development in transportation, energy, and urban areas,” said Do Thi Thu, a senior lecturer at the Banking Academy of Vietnam.

This aerial photo taken on Oct. 16, 2023 shows a China-Vietnam (L) and a China-Laos international cold-chain freight trains pulling out of Yanhe Station of Yuxi City, southwest China’s Yunnan Province. [Photo/Xinhua]

BOOMING HIGH-QUALITY DEVELOPMENT

Infrastructure construction has opened up broader prospects for practical cooperation between China and ASEAN countries in a rich variety of areas, driving stronger economic growth, closer exchanges and high-quality development.

China is the largest foreign investor in Laos. A large chunk of the investment has funded infrastructure, development zones, as well as power transmission lines and hydropower plants, creating many jobs for local people and pushing forward Laos’ industrial upgrade.

Daovone said that Laos sees huge potential for further deepening cooperation with China across such fields as agriculture, electric vehicles and trucks, electricity, mining, solar energy, tourism, as well as hotels and restaurants.

Agriculture is the mainstay of the Lao economy. Laos exports bananas, rubber, cassava, sugarcane and others, with China being the largest buyer.

Through the years, Chinese companies have collaborated with the Lao government on tropical agricultural science and technology, and Laos is seeking to promote sustainable agricultural production and increase exports to China through the China-Laos Railway.

Vietnam, meanwhile, is China’s largest trading partner within ASEAN, and China has been Vietnam’s largest trading partner since 2004. Annual volume of two-way trade has exceeded 200 billion U.S. dollars for three consecutive years.

Do, the Hanoi-based scholar, said that Vietnam-China “large cooperative projects on infrastructure, energy, and border area development have contributed to the socio-economic growth of both nations.”

Vietnam-China trade cooperation “has bright prospects for deeper and more substantive cooperation in the future,” she said.

She also said the introduction of fresh and frozen Vietnamese durians into the Chinese market shows the development of trade cooperation, exemplified by diversifying products within the same category and adding value.

With Chinese consumers’ demand for durians on the rise, China is now the world’s largest importer and consumer of durians. Last year, some 493,000 tons of fresh Vietnamese durians were sold to China.

Vietnamese vendors sell durians in Dongxing, south China’s Guangxi Zhuang Autonomous Region, on May 18, 2023. [Photo/Xinhua]

Do also pointed out the abundant opportunities in substantive development of bilateral trade, noting the two countries can further enhance cooperation particularly in high-tech agriculture and e-commerce.

“China has advanced significantly in technology and innovation, while Vietnam is undergoing a digital transformation and developing its digital economy, creating great potential for cooperation in information technology, artificial intelligence, financial technology, and digital transformation in manufacturing,” she added.

CLOSER COMMUNITY FOR BROADER PROSPERITY

The flagship projects realized through high-quality cooperation between China and ASEAN nations have become benchmarks of their ever-closer relationships, the strengthening of which is conducive to regional prosperity and peace, experts have said.

This year marks the 15th anniversary of the China-Laos comprehensive strategic cooperative partnership. In October 2023, leaders of the two countries signed a new five-year action plan for building a China-Laos community with a shared future, injecting new momentum into the further development of bilateral ties.

Photo taken on Oct. 16, 2016 shows the border trade on the Beilun River on the China-Vietnam border. [Photo/Xinhua]

Daovone greatly appreciates the friendship between the two socialist countries, which is maintained by the top leaders of both countries and exchanges between the two peoples.

Laos-China relations have been moving forward at a high level, he said, expressing the hope that Li’s upcoming visit to Laos will further advance this relationship. As Laos is the current rotating chair of ASEAN, Li’s attendance at related gatherings “will make the summit more colorful.”

Vietnam, another socialist neighbor, shares cultural and social affinities with China. Last year, the two countries announced the building of a China-Vietnam community with a shared future that carries strategic significance, ushering in a new stage in their ties.

“Mutual assistance during difficult times, such as supporting each other during the resistance against colonialism and imperialism, post-war reconstruction, and overcoming the COVID-19 pandemic, has strengthened the friendship between our two countries,” Do said.

As the world is facing rising challenges and geopolitical competition, “a successful bilateral community like Vietnam-China could inspire other bilateral and multilateral communities with a shared future, such as between China and ASEAN,” she said.

Do noted that working towards a community with a shared future helps Vietnam and China focus on sustainable development goals, including environmental protection, climate change response and food security.

“It allows the two countries to address common challenges and promote development for the benefit of their peoples, as well as for peace, stability, and prosperity in the region,” she said.

MIL OSI China News –

January 23, 2025
MIL-OSI USA: Jefferson, A History of the Fed’s Discount Window: 1913–2000

Source: US State of New York Federal Reserve

Thank you, President Hicks and Tara Boehmler, for the kind introduction.1
Let me start by saying that I am saddened by the tragic loss of life, destruction, and damage resulting from Hurricane Helene in North Carolina, and throughout this region. My thoughts are with the people and communities affected, including those in the Davidson College family. For our part, the Federal Reserve and other federal and state financial regulatory agencies are working with banks and credit unions in the affected area to help make sure they can continue to meet the financial services needs of their communities.
I am happy to be back at Davidson College. This is a special community. I am bound to it by a shared experience defined not by its length, but by its intensity. As I visited with you today, and as I look around this hall, I see the faces of colleagues who became dear friends during the COVID-19 pandemic. Back then, we spoke often about the unprecedented uncertainty we faced. Amidst that uncertainty, however, we supported each other on this campus. Now, looking back, we can attest that this mutual support was vital. I am grateful to have been amongst you during that unprecedented time. Today, I am proud to see that Davidson is stronger than ever.
I am excited to be here with you this evening and to talk to you about the history of the Federal Reserve’s discount window.2 The discount window is one of the tools the Fed uses to support the liquidity and stability of the banking system, and to implement monetary policy effectively. It was created in 1913 when the Fed was established. Today, more than 110 years later, this tool continues to play an important role. At the Fed, we always look for ways to improve our tools, including our discount window operations. Recently, the Fed published a request for information document to receive feedback from the public regarding operational aspects of the discount window and intraday credit.3
Today, I will do three things. First, I will discuss briefly my outlook for the U.S. economy. Second, I will offer my historical perspective on the discount window, starting in 1913 and ending in 2000. Finally, I will provide a few details about the request for information the Fed recently published.
Tomorrow, I will say more about the discount window when I speak at the Charlotte Economics Club.
Economic Outlook and Considerations for Monetary PolicyEconomic activity continues to grow at a solid pace. Inflation has eased substantially. The labor market has cooled from its formerly overheated state.

As you can see in slide 3, personal consumption expenditures (PCE) prices rose 2.2 percent over the 12 months ending in August, well down from 6.5 percent two years earlier. Excluding the volatile food and energy categories, core PCE prices rose 2.7 percent, compared with 5.2 percent two years earlier. Our restrictive monetary policy stance played a role in restraining demand and in keeping longer-term inflation expectations well anchored, as reflected in a broad range of inflation surveys of households, businesses, and forecasters as well as measures from financial markets. Inflation is now much closer to the Federal Open Market Committee’s (FOMC) 2 percent objective. I expect that we will continue to make progress toward that goal.
While, overall, the economy continues to grow at a solid pace, the labor market has modestly cooled. Employers added an average of 186,000 jobs per month during July through September, a slower pace than seen early this year. A shown in slide 4, the unemployment rate now stands at 4.1 percent, up from 3.8 percent in September 2023. Meanwhile, job openings declined by about 4 million since their peak in March 2022. The good news is that the rise in unemployment has been limited and gradual, and the level of unemployment remains historically low. Even so, the cooling in the labor market is noticeable.
Congress mandated the Fed to pursue maximum employment and price stability. The balance of risks to our two mandates has changed—as risks to inflation have diminished and risks to employment have risen, these risks have been brought roughly into balance. The FOMC has gained greater confidence that inflation is moving sustainably toward our 2 percent goal. To maintain the strength of the labor market, my FOMC colleagues and I recalibrated our policy stance last month, lowering our policy interest rate by 1/2 percentage point, as shown in slide 5.
Looking ahead, I will carefully watch incoming data, the evolving outlook, and the balance of risks when considering additional adjustments to the federal funds target range, our primary tool for adjusting the stance of monetary policy. My approach to monetary policymaking is to make decisions meeting by meeting. As the economy evolves, I will continue to update my thinking about policy to best promote maximum employment and price stability.
Discount Window History1913: The Fed was establishedNow, I will turn to my perspective on the history of the discount window. Understanding this history is important as we consider ways to ensure the discount window continues to serve effectively in its critical role of providing liquidity to the banking system as the economy and financial system evolve.
Before the Federal Reserve was founded, the U.S. experienced frequent financial panics. One example is illustrated in slide 6 with a newspaper clipping from the Rocky Mountain Times printed on July 19, 1893. It depicts panic swirling against banks at a time when bank runs swept through midwestern and western cities such as Chicago, Denver, and Los Angeles. The illustration shows how waves of panic hit public confidence, the rocks in the picture, and how banks have a fortress mentality. They stand strong against the panic, but they are not lending, and they are isolated.
Back then, the supply of money to the economy was inelastic in the short term, in part because the monetary system in the U.S. was based on the gold standard. Demand for cash, however, varied over the course of the year and was particularly strong during harvest season, when crops were brought to the market. The surge in demand for cash, combined with the inelastic supply of money in the short term, caused financial conditions to tighten seasonally. The banking system was fairly good at moving money to where it needed to go, but it had little scope to expand the total amount of money available in response to the U.S. economy’s needs. So if a shock hit the economy when financial conditions were already tight, then the banking system struggled to provide the extra liquidity needed. Banks would seek to preserve liquidity by reducing their investments and denying loan requests, for example. Depositors, fearful that they might not be able to access their funds when they needed them, would rush to withdraw their money. Of course, that caused the banks to conserve further on liquidity. In some cases, they simply closed their doors until the storm passed. When banks closed their doors, economic activity would contract.4 Activity would recover when the banks reopened, but the economic suffering in the meantime was meaningful.
In addition to the supply of money in the economy being inelastic in the short term, two prominent frictions, asymmetric information and externalities, made banks and private markets vulnerable to systemic crises. Here, asymmetric information refers to the fact that customers do not have access to all the information they need to evaluate whether a bank is insolvent, illiquid, or both.5 Therefore, customers rely on imperfect signals, such as news reports about another bank failing, to decide whether to withdraw their money from their own bank.
Then there are externalities, in the sense that an individual bank may not consider how an innocent bystander may be negatively impacted by its actions. When a financial institution fails, that may lead depositors to withdraw money from other unrelated banks, which may in turn cause those banks to fail. Contagion can transform a single bank failure into a systemic crisis, where many banks fail, credit evaporates, the stock market collapses, the economy enters a recession, and the unemployment rate increases dramatically.
The severe financial panic of 1907 stands out as an example of market failure due to these two prominent frictions. The panic was triggered by a series of bad banking decisions that led to a frenzy of withdrawals caused by asymmetric information and public distrust in the liquidity of the banking system.6 Banks in many large cities, including financial centers such as New York and Chicago, simply stopped sending payments outside of their communities. The resulting disruption in the payment system and to the flow of liquidity through the banking system led to a severe, though short-lived, economic contraction. This experience led Congress to pass the Federal Reserve Act in 1913.7 This act created the Federal Reserve System, composed of the Federal Reserve Board in Washington, D.C., and 12 Federal Reserve Banks across the country.8
In 1913, the main monetary policy tool at the Fed’s disposal was the discount window. At that time, the Fed did not use open market operations—the buying and selling of government securities in the open market—to conduct monetary policy. Instead, the Fed adjusted the money supply by lending directly to banks that needed funds through the discount window. The Fed’s ability to provide funds to banks as needed made the money supply of the U.S. more elastic and considerably reduced the seasonal volatility in interest rates.9 This ability also enabled the Fed to provide stability in times of stress, helping banks that experienced rapid withdrawals to satisfy their customers’ demand for liquidity and thereby potentially preventing banking panics.
1920s: The Fed began to discourage strongly use of the discount windowIn fact, many researchers have argued that the existence of the Fed’s discount window prevented a financial crisis in the early 1920s, when the banking sector came under pressure as the U.S. economy transitioned to a peacetime economy following the end of World War I.10 There had been an agricultural boom during the war and a significant accumulation of debt within that sector. Farmers came under pressure as the prices of agricultural goods dropped from wartime highs. The banks sought to support their customers, and the Fed sought to support the banks. There were serious concerns about the condition of several banks in parts of the country. The Fed’s discount window lending provided critical support that saved many banks but also resulted in habitual use of the discount window by some banks during the 1920s.11
Slide 7 shows that as of August 1925, 593 member banks, 6 percent of the total, had been borrowing for a year or more from Federal Reserve Banks. Moreover, there were real solvency problems, and several banks failed with discount window loans outstanding. These challenges resulted in the Fed strongly discouraging banks from continuous borrowing from the discount window and the adoption of a policy of encouraging a “reluctance to borrow.”12
By 1926, the Fed was explicit that borrowing at the discount window was meant to be short term. As I emphasize in slide 8, the Federal Reserve’s annual report for 1926 stated that while continuous borrowing by a member bank may be necessary, depending on local economic conditions, “the funds of the Federal reserve banks are primarily intended to be used in meeting the seasonal and temporary requirements of members, and continuous borrowing by a member bank as a general practice would not be consistent with the intent of the Federal reserve act.”13
The late 1920s also highlighted Fed concerns about the purpose of the borrowing. The Fed sought to distinguish between “speculative security loans” and loans for “legitimate business.”14 A staff reappraisal of the discount mechanism stated that “[t]he controversy over direct pressure intensified in the latter part of the 1920s as an increasing flow of bank credit went into the stock market.”15 In short, the Fed observed that some banks were becoming habitual borrowers from the discount window. It was concerned that an overreliance on discount window borrowings would weaken banks and make them more prone to failure.
In the late 1920s, the Fed switched to open market operations as its primary tool for conducting monetary policy.16 That allowed the Fed to determine the aggregate amount of liquidity in the system and to rely on private financial markets to distribute it efficiently. The discount window would thus serve as a safety valve if there was a shock that caused conditions to tighten unexpectedly or if individual banks experienced idiosyncratic shocks or somehow lost access to interbank markets.
The intention of this set-up was for banks to use the discount window to borrow from the Fed only occasionally. Ordinarily and predominantly, financial institutions were supposed to rely on private markets for their funding. This set-up was designed to limit moral hazard—the possibility that institutions take unnecessary risks when there is no market discipline. This is the key balancing act. The Fed needs to be a reliable backstop to prevent financial crises, but it also needs to minimize moral hazard that comes from always standing ready to provide support.
1930s–1940s: The Great Depression and WWIIDuring the Great Depression in the 1930s, the banking system experienced severe stress, including many bank runs. There are many reasons why the discount window was insufficient to address the problems in the banking system in the 1930s. I will highlight only two. First, many banks were insolvent rather than illiquid. Central bank lending is not a fundamental solution in those circumstances. When banks are insolvent, it is important to manage the closure in as orderly a manner as possible. The establishment of the Federal Deposit Insurance Corporation (FDIC) in 1933 gave bank regulators increased ability to do that. Relatedly, the challenging experiences of lending to troubled banks in the 1920s likely made the Fed more reluctant to lend in circumstances in which solvency concerns were material. Second, the types of collateral that the Fed was initially able to accept when lending to banks were quite limited.
In response, in the early 1930s Congress expanded the range of banking assets that could serve as collateral for discount window loans and added a variety of new Fed emergency lending authorities.17 These new lending authorities were used in the 1930s to help alleviate distress. Some were also used in the early 1940s as the Fed helped support the World War II mobilization effort.
The period following the war was relatively calm. The role of the discount window shifted from addressing distress in the banking system to acting as a safety valve to manage tightness in money markets and support monetary policy operations.
1950–2000: Measures to discourage discount window borrowingIn March 1951, the U.S. Treasury and the Fed reached an agreement to separate government debt management from the conduct of monetary policy, thereby laying the foundation for the modern Fed.18
In the 1950s, the Fed set the interest rate on discount window loans above market rates. Thus, it served as an effective ceiling on the federal funds rate. The Fed continued to discourage extensive use of the discount window, but the relatively high interest rate also made its sustained use less attractive.
In the 1960s, the Fed placed greater emphasis on open market operations to set its monetary policy stance. Concurrently, the Fed shifted to a policy of setting the interest rate on discount window loans below the market rates. Because the interest rate no longer deterred use of the window, the Fed turned increasingly to other measures, such as administrative pressures and moral suasion, to limit the frequency with which banks requested loans from the discount window. Indeed, between the late 1920s and the 1980s, the Fed adopted and amended numerous restrictions on discount window borrowing. Whenever discount window usage increased too much, the Fed tightened the restrictions to suppress borrowing.
For example, in the 1950s, the Fed defined appropriate and inappropriate discount window borrowing. In particular, the Board’s regulations in 1955 stated that “[u]nder ordinary conditions, the continuous use of Federal Reserve credit by a member bank over a considerable period of time is not regarded as appropriate” and provided more details on how Reserve Banks should evaluate the “purpose” of a credit request.19 By 1973, the Board had made additional changes to its regulations on discount window use and defined three distinct discount window programs: adjustment credit, intended to help depository institutions meet short-term liquidity needs; seasonal credit, intended to help small depository institutions manage liquidity needs that arise from seasonal swings in loans and deposits; and extended credit, intended to help depository institutions that have somewhat longer-term liquidity needs resulting from exceptional circumstances.20
Over time, the Board added provisions in its regulations requiring banks to exhaust other sources of funding before using discount window credit.21 In addition, in the early 1980s, the Fed levied a surcharge on frequent borrowings by large banks to augment the administrative restrictions.22 Despite these policies to discourage use of the discount window, slide 9 shows that discount window borrowing, adjusted for the size of the Federal Reserve’s balance sheet, was notable in the 1970s and 1980s, suggesting that the discount window was an important marginal source of funding for banks during that period.
That changed in the 1980s and early 1990s, when there were notable solvency problems in the banking industry. During this period, the discount window provided support to troubled institutions, while the FDIC sought to find merger partners or otherwise manage the failure of these institutions in an orderly manner. The discount window activity that took place while FDIC resolutions proceeded increased the association between use of the discount window and being a troubled institution.23 As a result, banks became more reluctant to borrow from the discount window. The greater reluctance to borrow from the discount window made it less effective, both as a monetary policy tool and as a crisis-fighting tool. That resulted in a series of efforts by the Fed in the early 2000s to change how the discount window operates. Tomorrow, I will discuss those efforts when I speak at the Charlotte Economics Club.
A request for informationBefore closing, I’d like to return to where I began. Understanding the history of the discount window is important as we consider ways to ensure it continues to serve effectively in its critical role in providing liquidity to the banking system as the economy and financial system evolve. One way to ensure it continues to serve effectively is to collect feedback from the public. Slide 10 provides some touch points on the Board’s request for information document. The request for information seeks feedback from the public on a range of operational practices for the discount window and intraday credit, including the collection of legal documents; the process for pledging and withdrawing collateral; the process for requesting, receiving and repaying discount window advances; the extension of intraday credit; and Reserve Bank communications practices. My colleagues and I are looking forward to this feedback to inform potential future enhancements to discount window operations. The period for responding to our request for information ends on December 9, 2024.
Thank you to the event organizers and to the Davidson College community for the opportunity to discuss this important topic with you. It has been such a pleasure to be back on campus.
ReferencesAnderson, Clay (1971). “Evolution of the Role and the Functioning of the Discount Mechanism,” in Reappraisal of the Federal Reserve Discount Mechanism, vol. 1. Washington: Board of Governors of the Federal Reserve System, pp. 133–65.
Board of Governors of the Federal Reserve System (1922). 8th Annual Report, 1921. Washington: Government Printing Office.
——— (1926). Federal Reserve Bulletin, vol. 12 (July).
——— (1927). 13th Annual Report, 1926. Washington: Government Printing Office.
Carlson, Mark (forthcoming). The Young Fed: The Banking Crises of the 1920s and the Making of a Lender of Last Resort. Chicago: University of Chicago Press.
Clouse, James (1994). “Recent Developments in Discount Window Policy (PDF),” Federal Reserve Bulletin, vol. 80 (November), pp. 965–77.
Goodhart, Charles A.E. (1988). The Evolution of Central Banks. Cambridge, Mass.: MIT Press.
Gorton, Gary (1988). “Banking Panics and Business Cycles,” Oxford Economic Papers, vol. 40 (December), pp. 751–81.
Gorton, Gary, and Andrew Metrick (2013). “The Federal Reserve and Financial Regulation: The First Hundred Years,” NBER Working Paper Series 19292. Cambridge, Mass.: National Bureau of Economic Research, August.
Meltzer, Allan (2003). A History of the Federal Reserve, Volume 1: 1913–1951. Chicago: University of Chicago Press.
Miron, Jeffrey A. (1986). “Financial Panics, the Seasonality of the Nominal Interest Rate, and the Founding of the Fed,” American Economic Review, vol. 76 (March), pp. 125–40.
Meulendyke, Ann-Marie (1992). “Reserve Requirements and the Discount Window in Recent Decades (PDF),” Federal Reserve Bank of New York, Quarterly Review, vol. 17 (Autumn), pp. 25–43.
Shull, Bernard (1971). “Report on Research Undertaken in Connection with a System Study,” in Reappraisal of the Federal Reserve Discount Mechanism, vol. 1. Washington: Board of Governors of the Federal Reserve System, pp. 27–77.
Terrell, Ellen (2021). “United Copper, Wall Street, and the Panic of 1907,” Library of Congress, Inside Adams: Science, Technology & Business (blog), March 9.
Willis, Henry Parker (1923). The Federal Reserve System: Legislation, Organization and Operation. New York: The Ronald Press Company.

1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. Return to text
2. The discount window is a monetary policy facility where depository institutions can request to borrow money against collateral from the Fed. The term “window” originates with the now obsolete practice of sending a bank representative to a Reserve Bank physical teller window when a bank needed to borrow money. The term “discount” refers to how depository institutions borrow money on a discount basis—interest amount for the entire loan period (plus other charges, if any) is deducted from the principal at the time a loan is disbursed. Return to text
3. The Federal Reserve provides intraday credit to depository institutions to foster a safe and efficient payment system. For more information on intraday credit and the Board’s Payment System Risk policy, see “Payment System Risk” on the Board’s website at https://www.federalreserve.gov/paymentsystems/psr_about.htm. Return to text
4. See, for example, Goodhart (1988). Return to text
5. Illiquidity is a short-term cash flow problem. An illiquid bank cannot pay its current obligations, such as deposit withdrawals, even though the value of the bank’s assets exceeds the value of its liabilities. In other words, illiquidity means the bank does not currently have the resources to meet its current obligations. With a short-term loan, an illiquid bank would be able to pay its obligations. Insolvency is a long-term balance sheet problem. Total obligations of an insolvent bank are larger than its total assets. A short-term loan would not help an insolvent bank. Of course, evaluating the quality of a bank’s loan book in real time to determine whether a bank is solvent can be extremely challenging during a crisis. In addition, in some cases, illiquidity caused by large deposit withdrawals can lead banks to sell assets at fire-sale prices that then impairs their solvency. Conversely, concerns about insolvency, even if unfounded, can lead to liquidity problems. In the bank run literature, the connections between liquidity and solvency are a key factor that gives rise to runs. Return to text
6. The panic of 1907 started in October 1907 when three brothers—F. Augustus Heinze, Otto Heinze, and Arthur P. Heinze—as well as Charles W. Morse attempted to manipulate the price of United Copper stock by purchasing a large number of shares of the company. Their plan failed, and the stock price of United Copper collapsed. The collapse led to depositor runs on banks and trust companies associated with the Heinzes and Morse. This included a run on the Knickerbocker Trust Company, whose president was connected to Morse. The Knickerbocker Trust Company failed, and the New York Stock Exchange fell nearly 50 percent from its peak of the previous year in the wake of the failure. See Terrell (2021). Return to text
7. To aid its thinking on reforming the monetary system, Congress established the National Monetary Commission. The landmark 24 volume report from the commission provides a rich review of the operations of central banks in other countries, a history of financial crises in the U.S., and an appraisal of the state of the contemporary banking system in the U.S. at the time. Return to text
8. See “History and Purpose of the Federal Reserve” on the St. Louis Fed’s website at https://www.stlouisfed.org/in-plain-english/history-and-purpose-of-the-fed. Return to text
9. See Miron (1986). Return to text
10. See, for example, Gorton (1988). Willis (1923) and Board of Governors (1922) also suggest that the Fed prevented a crisis from happening in 1920. Return to text
11. See Carlson (forthcoming). Return to text
12. See Shull (1971, pp. 33–34). Return to text
13. See Board of Governors (1927, p. 4). In 1926, approximately one-third of all banks in the U.S. were member banks, holding about 60 percent of the total loans and investments for all banks; see Board of Governors (1926). Banks receiving charters from the federal government were required to become members of the Federal Reserve System while banks receiving charters from state governments had the option to become members. Discount window borrowing was originally limited to Federal Reserve System member banks. The Monetary Control Act of 1980 opened the window to all depository institutions. Return to text
14. See Gorton and Metrick (2013). Return to text
15. See Anderson (1971, p. 137). In the statement, “direct pressure” refers to the Fed policy of pressuring banks not to borrow from the window. Congress may have shared some of those concerns, as the Federal Reserve Act was amended in 1933 to include a passage in section 4 requiring Reserve Banks to be careful about speculative uses of the Federal Reserve credit. Return to text
16. Open market operations are the purchase or sale of securities (for example, U.S. Treasury bonds) in the open market by the Fed. In modern times, the short-term objective for open market operations is specified by the FOMC. For more information, please refer to “Open Market Operations” on the Board’s website at https://www.federalreserve.gov/monetarypolicy/openmarket.htm. Return to text
17. There are several banking acts that do this, but especially the Banking Act of 1932, the Emergency Relief and Construction Act of 1932, and the Banking Act of 1935. Yet one more reason why the discount window was insufficient to address the problems of the banking system in the 1930s is that, during this period, nonmember banks did not have access to the discount window. These banks suffered the most during the Great Depression. The ability of nonmember banks to access the window only changed in 1980 with the Monetary Control Act. Return to text
18. After the U.S. entered World War II, the Federal Reserve supported efforts by the Treasury to hold down the cost of financing the war by establishing caps on interest rates on Treasury securities (see, for instance, Meltzer, 2003, Chapter 7). The cap pertaining to longer-term interest rates continued to be in place until the 1951 agreement. Return to text
19. See Board of Governors of the Federal Reserve System, Advances and Discounts by Federal Reserve Banks, 20 Fed. Reg. 261, 263 (PDF) (Jan. 12, 1955). Return to text
20. See Board of Governors of the Federal Reserve System, Extensions of Credit by Federal Reserve Banks, 38 Fed. Reg. 9065, 9076-9077 (PDF) (April 10, 1973). Return to text
21. By 1980, the Board’s regulations stated that adjustment credit “generally is available only after reasonable alternative sources of funds, including credit from special industry lenders, such as Federal Home Loan Banks, the National Credit Union Administration’s Central Liquidity Facility, and corporate central credit unions have been fully used”; seasonal credit was “available only if similar assistance is not available from other special industry lenders”; and other extended credit was available only “where similar assistance is not reasonably available from other sources, including special industry lenders”; see Board of Governors of the Federal Reserve System, Extensions of Credit by Federal Reserve Banks, 45 Fed. Reg. 54009, 54009-54011 (PDF) (Aug. 14, 1980). See also Clouse (1994). Return to text
22. See Meulendyke (1992). Return to text
23. A congressional inquiry found that this lending likely increased losses to the deposit insurance funds at the time and led to limitations on the ability of the Federal Reserve to provide loans to troubled depository institutions as part of the Federal Deposit Insurance Corporation Improvement Act of 1991. Return to text

MIL OSI USA News –

January 23, 2025
MIL-OSI Australia: Review of the Term Funding Facility

Source: Reserve Bank of Australia

The Bank today released the Reserve Bank Board’s Review of the Term Funding Facility. This review is one element of a broader set of reviews the Board has undertaken of the monetary policies it adopted in response to the pandemic. The purpose of the reviews is to be transparent and open about the experience and draw out lessons.

Christopher Kent, Assistant Governor (Financial Markets), will share some observations on the Term Funding Facility in his speech today at 11am (AEDT).

MIL OSI News –

January 23, 2025

MIL-OSI Australia: A Review of the RBA’s Term Funding Facility

Source: Reserve Bank of Australia

Thank you for coming to the Reserve Bank’s offices today. I will talk about a review we have published on the Term Funding Facility (TFF). This is the fourth instalment of the series of reviews of unconventional policy tools the RBA used during the COVID-19 pandemic.

In March 2020, the economic outlook was bleak and highly uncertain (Graph 1), financial markets were in turmoil, and there was limited scope to lower the cash rate further. In that environment, the RBA pursued a package of policies to support the economy. The TFF review considers how that element of the package worked, whether it achieved its aims, and lessons for the future. I will cover the key points but there is a lot of detail in the review itself.

What was the TFF intended to do?

The TFF aimed to:

lower the cost of borrowing for businesses and households, by lowering lenders’ funding costs, and to reinforce the benefits to the economy of the lower cash rate
encourage banks to lend to businesses – particularly small and medium-sized enterprises (SMEs) – given that business credit tends to fall in downturns.

How did it work?

The TFF provided low-cost three-year funding to banks, which also indirectly helped to lower the cost of borrowing from wholesale markets.

Under the TFF, banks had access to cheap funding up to an amount that was based on the initial size and subsequent growth of their loan book. The interest rate was initially fixed at 0.25 per cent. This was lowered to 0.1 per cent in step with the reduction in the cash rate target in November 2020. A bank was able to secure additional TFF allowances if it increased its overall lending to businesses, particularly smaller businesses. For each dollar of additional credit extended to large businesses, a bank was eligible for another dollar of TFF funding. For each additional dollar extended to SMEs, a bank had five more dollars added to its TFF allowance.

Banks could access their allowances up to the end of September 2020. However, by the time of the September Board meeting, the economy was still far from the RBA’s goals, and considerable downside risks remained. The Board decided to extend the facility and increase banks’ allowances; banks could access their new allowances for three-year fixed-rate loans until mid-2021.

TFF funding was much cheaper than other sources of term funding. Unsurprisingly, banks took up most of their TFF allowances (Table 1). The TFF ultimately provided $188 billion of funding, which was equivalent to 6 per cent of the stock of credit outstanding at the peak of the TFF’s use. Banks repaid all TFF funds as scheduled by mid-2024 without incident.

Table 1: TFF Usage Across Banks
	Amount drawn $ billion	Share of total allowances Per cent
Major banks	133	100.0
Mid-sized banks	24	99.6
Small banks	9	58.3
Foreign banks	22	54.2
Total across all banks	188	88.3
Sources: APRA; RBA.

To summarise its effect on funding costs for banks and others with access to wholesale funding markets:

The TFF lowered banks’ funding costs directly. For the major banks, the TFF was around 60 basis points cheaper than issuing bonds during the TFF drawdown phase (Graph 2). It lowered their average cost of funds by around 5 basis points.

Together with other parts of the policy package, the TFF also indirectly helped to lower the cost of wholesale funding. With the TFF in place, banks had little need to issue bonds but investor demand for those and other similar securities remained strong. Strong demand coupled with a sharp fall in supply contributed to a decline in yields on a range of existing and newly issued securities. This included securities issued by non-major banks (which continued to issue bonds). Non-bank lenders also benefited significantly; their issuance of residential mortgage-backed securities (RMBS) – a key source of their funding – picked up significantly as the cost of issuance dropped sharply (Graph 3).

Did the TFF achieve its aims?

Banks passed lower funding costs through to retail lending rates for both households and businesses, on both new and outstanding loans. On average, outstanding lending rates fell by almost 100 basis points – a little more than the 84 basis point decline in banks’ overall cost of funding (Table 2). The fall in business rates was comparable across variable- and fixed-rate loans, with larger reductions for SMEs than was the case for larger businesses. But the fall in mortgage rates was much more pronounced for fixed-rate loans; the decline in fixed rates was also large relative to the reduction in the cash rate compared with earlier episodes of monetary policy easing. Banks’ decisions to provide fixed-rate mortgages at very attractive rates was consistent with the low fixed-rate TFF loans as well as banks choosing to focus their competitive efforts in the fixed-rate mortgage market.

Table 2: Changes in Funding Costs and Outstanding Lending Rates

February 2020 – February 2022
	Change Basis points
Cash rate target	−65
Funding costs^(a)	−84
Overall mortgage rates	−97
– Variable mortgage rates	−68
– Fixed mortgage rates	−152
Overall business lending rates	−105
– Variable business lending rates	−103
– Fixed business lending rates	−89
(a) Major banks. Sources: APRA; ASX; Bloomberg; LSEG; major bank liaison; RBA.

Households and businesses that took out fixed-rate loans benefited from the particularly low fixed rates on offer at the time. The share of new housing lending at fixed rates rose from around 15 per cent at the start of the pandemic to a historical high of over 45 per cent by mid-2021. Not only were existing borrowers switching from variable to fixed rates, but new mortgage lending also picked up noticeably through 2020 and into 2021 (Graph 4). In addition, lower rates contributed to a pick-up in disposable incomes of debtors. In these ways the TFF (together with other parts of the policy package) helped to support dwelling investment, the housing market more broadly, and other elements of aggregate demand.

The TFF was also intended to support the availability of credit. We were particularly concerned that banks might have been reluctant to continue to extend credit to businesses during such difficult times. The TFF is likely to have played a role in underpinning business credit. It encouraged demand by contributing to lower rates for borrowers. It also encouraged banks to expand lending to businesses to obtain additional low-cost TFF loans. Indeed, business credit held up better during the pandemic than in the global financial crisis (GFC) (Graph 5); such declines had also been evident in earlier downturns. Despite the supporting role of the TFF, total business credit may not have increased through 2020 and 2021 for several reasons, including a lack of business confidence and the reduced need for business credit given the sizeable government support to businesses’ cashflows. And despite the considerable incentives in the TFF to expand SME lending, staff estimates found no statistically significant effect on total SME lending compared with large businesses.

While not an explicit goal, one other benefit of the TFF was the indirect support it provided to the public sector balance sheet. By supporting stronger economic outcomes, the TFF – together with other monetary policy measures – contributed to higher tax revenues and lower support payments to households and businesses than would otherwise have been the case.

How much did the TFF cost?

The TFF was part of the insurance the RBA took out against a catastrophic economic outcome. While some of the TFF’s design features underpinned its significant use by the banks – and hence its economic benefits more broadly – these were also associated with financial costs for the RBA. The total cost to the RBA is estimated to have been $9 billion. There were several reasons for this cost.

First, the choice to supply funds at a fixed rate was intended to give banks and their borrowers certainty, thereby reinforcing the other elements of the policy package: notably the RBA’s three-year yield target, and its forward guidance. But the economic recovery and increase in inflation turned out to be much stronger, and started much earlier, than the initial upside scenarios considered by most economists and the RBA. As a result, the Board ended up raising the cash rate target by much more and much sooner than had been expected (Graph 6). While the TFF was profitable for the RBA until May 2022, once the cash rate increased, the RBA was paying banks more interest for the balances that they kept at the RBA than the low fixed rate the banks were paying on the TFF. Because the banks passed these lower funding costs in full, household and business borrowers who had locked in low fixed rates were the ultimate beneficiaries as interest rates rose.

Second, around $4 billion of this cost was the result of the Board’s decision to extend the TFF in early September 2020. At that time, the banks had taken up just 60 per cent of their initial TFF allowances, with almost half of that occurring as late as August (Graph 7). This suggested that the banks did not need TFF funding to compete for, or satisfy, the demand for borrowing from households and businesses. Rather, the banks waited until as late as practical to draw down TFF funds because doing so extended the time the TFF would contribute to meeting regulatory liquidity requirements on the banks. A similar pattern of late take-up was later observed with the second tranche of the TFF.

Some lessons for the future

The TFF delivered on its goals. It lowered borrowing costs for a range of borrowers, kept credit flowing to the economy, and supported aggregate demand. In addition, along with other measures – including the purchase of bonds in the early weeks of the pandemic – it helped to restore confidence in financial markets, which were significantly disrupted in the early days of the pandemic.

Based on the findings of the review, the Board judged that a term lending tool of this kind would be worth considering again if warranted by extreme circumstances. But there were valuable lessons we learnt along the way that could help to shape any future program of this type.

Degree of support for the economy versus flexibility

Central banks can choose between fixed- or variable-rate facilities. The fixed-rate option was chosen for the TFF in part to reinforce other policies: the yield target and forward guidance. Such policy packages can be particularly valuable when the standard interest rate lever is already near zero and significant downside risks to the economy remain. But the flipside to a fixed-rate facility is that it lacked flexibility. And given the large take up of the TFF at a very low fixed rate, it incurred a material financial cost to the RBA when the economic recovery and pick-up in inflation turned out to be much stronger, and started much earlier, than had been expected.

Indirect effects

Many non-bank lenders were concerned that the TFF would undermine their competitive position vis-à-vis the banks. We had expected the TFF to help lower rates in wholesale funding markets to a degree. But this effect was much stronger and more pervasive than we had anticipated. The TFF helped to lower funding costs significantly for a range of lenders and corporations that had no access to TFF funds. It is hard to identify the specific contribution of the TFF to these lower funding costs separately from the effects of the wider policy package. But staff estimates suggest that these indirect effects caused yields on RMBS to be around 50 basis points lower than they would otherwise have been.

Open lines of communication between the RBA, other government agencies and industry

Another lesson is the importance of collaboration with other government agencies, and regular contact with industry participants. Collectively, this helped financial stability risks associated with the TFF to be well managed. This included monitoring and managing banks’ refinancing and liquidity needs well ahead of the repayment of their TFF loans, although that task could have been more challenging under less favourable market conditions.

Similarly, for household and business borrowers, the RBA, the Australian Prudential Regulation Authority and the banks’ close monitoring (and banks’ prudent lending standards) helped to reduce the risks associated with the rise in borrowers’ mortgage payments when their very low fixed rates rolled over to much higher variable rates. Only a very small share of borrowers struggled to meet the increase in their mortgage obligations when their low fixed rates expired.

Importance of contingency planning, risk mangement and governance

One of the important lessons is the value of planning ahead and being ready for a wide range of operational contingencies. We got the TFF up and running quickly in part by relying on existing, well-understood practices. But the speed with which the RBA designed and implemented the TFF also limited our ability to fully consider and manage the associated risks.

Forward planning can expand the options available, help us to better weigh up the costs and benefits of each, and prioritise any pre-emptive operational work. On this latter point, for example, floating-rate term-lending would have been challenging for both the RBA and the commercial banks to adopt in early 2020, because neither the RBA nor the banks were readily able to undertake floating-rate repos. The RBA and the banks have since upgraded systems and now have the capacity to easily undertake either floating- or fixed-rate repos.
Design features could have competition implications. While RBA staff liaised with the Australian Competition and Consumer Commission during the TFF’s setup, it would be helpful to consider competitive implications ahead of time for any future facilities.
Finally, and perhaps most importantly, the Board has agreed to strengthen the way it considers risks, including by examining a wide range of economic scenarios when making policy decisions involving unconventional tools, and how to judge appropriate exit paths from such tools. In retrospect, a greater focus on potential upside economic outcomes could have led to a different calibration of the TFF, including deciding not to extend it in September 2020.

Summing up

The TFF met the objectives we set out for it at the start of the pandemic. It helped prevent dire economic outcomes at a time when the outlook was bleak and highly uncertain, and there was limited scope for further cuts to the cash rate. The TFF contributed to materially lower lending rates for households and businesses by reducing funding costs directly for banks, and indirectly for other institutions that borrow from wholesale funding markets. It kept credit flowing to households and businesses at a time when banks might have otherwise curtailed lending. In helping to prevent a much more severe economic downturn, the TFF also contributed to stronger public sector balance sheets than otherwise.

Would the RBA use a term-lending tool again in the future? The Board would consider such a tool in extreme circumstances when the cash rate target had been lowered to the full extent possible. But it would do so only after consideration of a wide range of scenarios and the associated risks, and with a broader range of operational options than were available at the time of the pandemic.

What’s next?

In line with recommendations from the Review of the RBA, we will be publishing a framework for additional monetary policy tools next year. The broader set of lessons learned from the combined use of a range of unconventional monetary policies will be considered as part of that framework.

MIL OSI News –

January 23, 2025

MIL-OSI Economics: Review of the Term Funding Facility

Source: Reserve Bank of Australia

The Bank today released the Reserve Bank Board’s Review of the Term Funding Facility. This review is one element of a broader set of reviews the Board has undertaken of the monetary policies it adopted in response to the pandemic. The purpose of the reviews is to be transparent and open about the experience and draw out lessons.

Christopher Kent, Assistant Governor (Financial Markets), will share some observations on the Term Funding Facility in his speech today at 11am (AEDT).

MIL OSI Economics –

January 23, 2025
MIL-OSI Asia-Pac: Audit Commission personnel attending 16th Assembly and 9th Symposium of Asian Organisation of Supreme Audit Institutions (with photos)

Source: Hong Kong Government special administrative region

Audit Commission personnel attending 16th Assembly and 9th Symposium of Asian Organisation of Supreme Audit Institutions (with photos)
Audit Commission personnel attending 16th Assembly and 9th Symposium of Asian Organisation of Supreme Audit Institutions (with photos)
******************************************************************************************

The Director of Audit, Professor Nelson Lam, attended the 16th Assembly and 9th Symposium of the Asian Organisation of Supreme Audit Institutions (ASOSAI) held from September 21 to 27 in New Delhi, India. At the invitation of the National Audit Office of the People’s Republic of China (CNAO), Professor Lam participated as a member of the People’s Republic of China Delegation, which was led by the Auditor General of CNAO and Secretary General of ASOSAI, Mr Hou Kai. The Assembly and Symposium were hosted by the Supreme Audit Institution of India and focused on “Digital Public Infrastructure and Gender Divide – Issues of Inclusion and Accessibility”. Mr Hou participated in the meetings and chaired some agenda items. The President of India, Mrs Droupadi Murmu, attended and spoke at the opening ceremony. Attended by 201 delegates from 44 ASOSAI members and observers, the Assembly endorsed the work report of the ASOSAI Secretariat, made additions and amendments to the ASOSAI Regulations, and held discussions on issues related to the three newly established working groups on state-owned enterprise, information technology audit and data analytics, and regional and municipal audit. Also, members of the new term of the Governing Board and the Audit Committee of ASOSAI were elected. It was affirmed that the next Assembly will be held in Saudi Arabia. Professor Lam, along with Senior Auditor Mr Alfred Wong, who also joined the meetings and activities, exchanged ideas and experiences with Mr Hou, the Commissioner of Audit of the Macao Special Administrative Region, Mr Ho Veng-on, and leaders of audit institutions of various Asian countries on the theme of the Assembly, as well as on the management and development of public sector auditing bodies. Professor Lam also shared on the current work and updates of Audit, and expressed his wish to have further exchanges with the participating audit institutions. Professor Lam said that the ASOSAI Assembly and Symposium, which were held physically for the first time since the pandemic, brought together representatives from various audit institutions to engage in face-to-face exchanges that proved to be fruitful and beneficial. He thanked CNAO and Mr Hou for their support and care for Audit. With strong support from the motherland, auditors from Hong Kong have had the privilege to, as part of the national teams, connect with the world through taking part in worldwide audit forums and United Nations audit assignments. These forums and assignments have provided great opportunities for Hong Kong auditors to assimilate good audit practices from around the world and apply the acquired knowledge in their roles at work. Not only did these valuable experiences enhance professional development within Audit, but they also enabled Audit to tell good stories of China, Hong Kong, and auditing on international platforms.

Ends/Wednesday, October 9, 2024Issued at HKT 11:42

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MIL OSI Asia Pacific News –

January 23, 2025
MIL-OSI United Kingdom: UK’s world-class film sector handed major jobs and growth boost by tax reliefs
Source: United Kingdom – Executive Government & Departments

Film and the creative industries to form key part of government’s mission to grow the economy in all parts of the UK
Independent film productions costing up to £15 million to benefit from an increased tax relief of 53%

Move will empower UK filmmakers to create more independent films and co-produce with other countries

The next generation of indie films have been handed a major boost by the government with the introduction of a tax relief uplift, which will create jobs and drive growth by making more British hits like Aftersun and Billy Elliot possible.

The Independent Film Tax Credit (IFTC), confirmed today by the Chancellor and Culture Secretary as the London Film Festival gets underway, will mean that for the first time productions with a budget up to £15 million will be eligible for a relief of 53% on qualifying expenditure. Films with a budget up to £23.5 million are also eligible for the IFTC and the relief will be tapered.

The creative industries are a key part of the economy, generating £125 billion a year, and form a central part of the Government’s mission to grow the economy. The UK film sector is already worth £1.36 billion and employs more than 195,000 people, with the potential to grow further thanks to these reliefs.

British indie films like Rye Lane, Rocks, Bait and Pride tell award-winning stories about our country, celebrating parts of our culture that often get less exposure. This relief will allow more stories like these to be told, enabling more people to see their lives and experiences reflected on screen.

To support the Government’s commitment on more distinctly home-grown content and talent, for films to meet the criteria for this new relief, they must have a UK writer or director, or be certified as an official UK co-production.

The announcement comes ahead of the government’s International Investment Summit next Monday which will gather UK leaders, high-profile investors and businesses from across the world to discuss how we can deepen our partnership to drive investment and growth, including in the creative industries.

The new measures are the latest in a series of interventions from the government to drive growth, which is creating the conditions for confident investment and trusted partnership with business. From major investment in carbon capture to securing billions in investment from Blackstone and Amazon Web Services, this government is committed to working hand in hand with business to drive growth and investment across many sectors.

Culture Secretary Lisa Nandy said:

The UK’s first-class independent filmmakers have a track record of creating cult classics and surprise hits that are enjoyed by millions. Their films showcase British culture and creativity to the world while also supporting thousands of jobs and driving economic growth in all parts of the UK.

These reliefs will pay dividends both culturally and economically, inspire the next generation of talent across the country, deliver more great British content, and sustain a world-leading industry here in the UK.

Chancellor of the Exchequer, Rachel Reeves, said:

The creative industries are a crucial part of our economy, and this change will help strengthen them further.

By supporting growth in this vibrant sector, we can create jobs and continue to show Britain at its best around the world.

Faye Ward, producer, Rocks, Suffragette, Stan & Ollie, Wild Rose, said:

We have a tremendous history of filmmaking and talent in Britain. The indie sector is the main pathway for new and original voices and talent to enter into the industry. It’s imperative that we continue telling and making UK stories for which this enhanced tax relief is vital for our industry.

Amy Jackson, producer of Oscar-nominated Aftersun, The Outfit and The End We Start From, said:

This is a vital intervention for the UK industry, which I wholeheartedly welcome. Making British indie films is tough, but this enhanced tax relief means that as a producer I now have crucial support to explicitly focus on bringing incredible stories by British talent to the big screen while building out exciting co-production opportunities. The IFTC will make UK indie film a more attractive investment prospect for international partners and co-producers facilitating more creative collaboration and bringing much needed backing to the independent sector across the board.

BFI Chair Jay Hunt said:

The speed with which the Government has turned this around shows how vital this intervention is for independent film. It will have a game changing impact across the whole UK screen sector – creatively and economically.

Ben Roberts, BFI Chief Executive, said:

This is great news for UK film and is already having a positive impact across our industry. More films can now be made in the UK that audiences at home and internationally will get to enjoy. Independent filmmaking is vital to our cultural expression and creativity, it builds careers for talent in front of and behind the camera, and also showcases UK creative excellence on a world stage. We’re grateful to Government, the DCMS and the industry for working together to establish this transformative tax relief uplift where it is most needed.

Andrew M Smith, Corporate Affairs Director, Pinewood Group, said:

Pinewood is synonymous with great filmmakers of the past and present and independent film has been at our heart since the Studios opened in 1936. This tax relief is fantastic news for the industry as a whole and will bring an injection of support to further nurture the groundbreaking talent of the future and bring a greater diversity and range of stories to our screens.

Elizabeth Karlsen, producer, Living, Carol, Colette and The Crying Game, said:

Based on three decades working in independent film in the UK I can say with absolute confidence that this new support for British independent film will be felt far and wide; it will help us nurture new talent, support established talent, and ensure our global reputation for producing outstanding cinema. The creative and economic benefits will be felt through the industry and beyond.”

Hakan Kousetta, executive producer, Slow Horses, Hijack and The Essex Serpent, said:

Delighted to welcome this vital support for the British independent sector. A thriving independent film sector is a key part of the industry’s ecology. It’s where myself and many others started our careers and is essential if we are to continue to produce some of the world’s best screen talent both behind and in front of the camera.”

While the last few years have been challenging, in part because of the end of the pandemic streaming boom and US writers’ strikes halting productions, in recent decades the UK’s film industry has enjoyed strong growth. Tax incentives for film, first introduced in 2007, helped to bring the production of blockbusters to Britain, but the government is ambitious that it can grow further.

While major film production has flourished, smaller independent films have not received sufficient support. The tax credits uplift announced today will help the independent film sector reach its full potential, creating jobs and contributing to driving economic growth across the country.

ENDS

Notes to editors:

Productions qualifying for the relief must have started principal photography on or after 1 April 2024, and only expenditure incurred on or after 1 April 2024 can be claimed.

The statutory instruments will be laid on 9 October and will take effect from 30 October, which is the date from which the BFI certification unit can begin accepting applications.

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Published 9 October 2024
MIL OSI United Kingdom –
January 23, 2025
MIL-OSI Economics: Alessandra Perrazzelli: Technology and regulation – bridging the gap in the collective interest

Source: Bank for International Settlements

Ladies and Gentlemen, good morning.

I am delighted to be here today at the Milan Fintech Summit. Since its first edition – four years ago – this summit has provided a valuable opportunity to strengthen the dialogue among stakeholders and market participants, bringing together financial institutions, fintech companies, academics, and experts with different backgrounds.

Innovative technology affects the entire financial system, globally and domestically [Slide 1]. Fintech reshapes traditional business models, opening the door to newcomers, developing new services, and restructuring value chains. The impressive, fast, and interrelated changes push policy makers and supervisors to run in-depth analyses to update the regulatory landscape and the supervisory toolbox.

Global fintech investments increased significantly from 2010 to 2019, peaking at around 217 billion U.S. dollars [Slide 2]. In 2020 – in the midst of the pandemic – investments fell by more than 40 per cent to 124 billion U.S. dollars, eventually rebounding to over 229 billion U.S. dollars in 2021. In the last two years, however, global fintech investments have entered a downward trend, owing to the uncertain macroeconomic situation and to the heightened geopolitical risks that, unfortunately, we are living through.

Fintech applications are widely implemented in the financial sector, especially in the payments field. The digital evolution has led to lower research costs, more efficient services, higher security levels, and the use of large amounts of data to analyse customer behaviour and to customize the products and services being offered.

MIL OSI Economics –

January 23, 2025
MIL-OSI Economics: Elizabeth McCaul: Beyond the spotlight – using peripheral vision for better supervision

Source: Bank for International Settlements

Introduction

Thank you very much for inviting me to today’s conference, it is a pleasure to be here.

The former German Chancellor Helmut Schmidt used to say “People with visions should go to the doctor”. This sounds concerning to a supervisor. After all, the word “supervision” is made up of the prefix “super”, which means “over” or “above”, and “vision”. But what exactly is vision? To find out, I followed Helmut Schmidt’s advice and went to the doctor.

What I learnt is that eye doctors distinguish between central vision, fringe vision and peripheral vision.

Central vision is the very centre of the visual field. It delivers sharp, detailed pictures, allowing us to focus on objects straight ahead. In the banking world, these are the issues directly in front of us: capital, asset quality, profitability and key risk categories including climate-and environmental risks or cyber risk etc.

Fringe vision refers to the area right outside the central vision, around 30 to 60 degrees of the visual field, where visual clarity and detail recognition start to decrease. Fringe vision helps us to absorb information faster when we read as our brains anticipate the next words and letters, making the process faster and smoother. Translating this to banking, this would be like noticing changes in the macroeconomic environment, rising geopolitical tensions, and their impact on banks’ business models and risk profiles.

Finally, peripheral vision is everything that occurs outside the very centre of our gaze, beyond 60 degrees. It encompasses everything that can be seen to the sides, providing spatial awareness which helps with navigation and balance. Improving peripheral vision is crucial for athletes as it increases reaction speed, improves anticipation and reduces the risk of injury. In banking, beyond the centre of our gaze are the structural transformations of our societies and economies: the acceleration of technological progress, including the rise of generative artificial intelligence or the impact of social media on depositor behaviour; the reconfiguration of the financial value chain; new entrants in the competitive landscape or the growing share of non-bank financial institutions.

Good supervision and good risk management in banks require central, fringe and peripheral vision. Good peripheral vision sets apart decent athletes from great ones, allowing them to anticipate movements and respond swiftly to changes on the field. And the same holds true for banking supervisors: while central vision and fringe vision are crucial in focusing on immediate risks, it is the ability to maintain a broad, strategic view – our “peripheral vision” – that ensures truly effective supervision. This broader perspective enables us to detect emerging risks in the wider financial system, anticipate potential disruptions and respond proactively.

In my remarks today, I will share our assessment of the current risk landscape, describing what we see in our central, fringe and peripheral vision.

Central vision

Let me start with the central vision of the state of the European banking system.

In recent years, Europe’s banking sector has shown resilience in the face of unforeseen challenges: the pandemic, the energy supply shock following Russia’s invasion of Ukraine and a period of high inflation.

This resilience is reflected in the numbers: in 2015, the average ratio of non-performing loans (NPLs) for significant banks in the banking union was 7.5%, at a time when some banking systems had ratios close to 50%. At the end of the second quarter of this year, this ratio had decreased to 2.3%, driven mainly by the reduction of NPLs in high-NPL banks. Similarly, the Common Equity Tier 1 ratio for significant banks has risen from 12.7% in 2015 to 15.8% today. Bank profitability has considerably increased in recent quarters, benefiting from higher interest rates, and return on equity now stands at 10.1%.

On the one hand, this resilience is a result of the strengthened supervisory and regulatory framework put in place after the global financial crisis and the related improvements in banks’ risk management. On the other hand, looking particularly at recent years, banks have also benefited from policy support which has helped shield the real economy from adverse shocks. For example, during the pandemic, comprehensive fiscal support measures contained corporate insolvencies and the associated loan losses. While bank profitability and valuations have recently improved due to higher interest rates, the effects of this supporting factor are gradually diminishing.

Turning to liquidity, banks continue to show strong positions despite an ongoing reduction in excess liquidity. Access to both retail and wholesale funding remains robust, and the higher-than-expected stickiness of deposits has contributed to a stable funding environment. Nevertheless, banks should remain cautious and ensure that their liquidity and funding strategies are resilient to potential market disruptions. They need to maintain robust asset and liability management frameworks to enhance their resilience to both liquidity and funding risks as well as interest rate risk in the banking book. I will return to this topic later again.

Finally, our supervisory priorities also include banks’ capabilities to manage climate- and environmental risks and cyber risk. Climate change can no longer be regarded only as a long-term or emerging risk, which is why banks need to address the challenges and grasp the opportunities of climate transition and adaptation. With regard to cyber risk, we have recently concluded a cyber resilience stress test to assess how banks would respond to and recover from a severe but plausible cybersecurity incident. While cyber risk has become a key risk for the banking sector, geopolitical tensions have further increased the threat of cyber-attacks.

So, we may ask: how much of this resilience is structural, how much is cyclical? To get a more accurate picture of the current risk landscape, we need to slightly widen our gaze.

Fringe vision

This brings me to the fringe vision, looking at the broader macroeconomic environment.

While the macro-financial environment has recently been improving as inflation decreases, near-term growth remains weak and subject to high uncertainty. Recent data indicate a gradual recovery in real GDP growth, primarily driven by the services sector, while industrial activity continues to face headwinds.

Credit risk has only partially materialised so far, supported by strong fundamentals of households and corporates. Still, NPLs are slowly increasing, particularly in the commercial real estate (CRE) and small and medium-sized enterprise (SME) sectors. While the macroeconomic outlook signals a lower immediate risk of recession, asset quality in riskier segments is slowly deteriorating as the higher interest rate environment experienced over the last two years after a decade of ‘low for long’ weighs and may affect the debt servicing capacity of borrowers. In this context, we are conducting targeted reviews on banks’ portfolios that demonstrate more sensitivity to the current macro-financial environment. This includes targeted reviews of SME portfolios and following up on the findings from residential real estate and CRE portfolio reviews as well as from deep dives on forbearance and unlikely-to-pay policies. Banks also need to remediate persistent shortcomings in their IFRS 9 frameworks and maintain an adequate level of provisions. In this context, we are continuing IFRS 9 targeted reviews focusing on, among other things, the use of overlays and coverage of novel risks.

The current market risk environment is characterised by high risk appetite and benign risk pricing, which has prevailed in financial markets over the past year. This environment is susceptible to sudden shifts in market sentiment and episodes of high volatility, as seen in the recent global financial market sell-off. Although markets showed substantial resilience during the spike in volatility in August, banks should be ready for and able to cope with further episodes of sharp repricing and high volatility. The implementation of the recently postponed market risk part of the Basel III reform, the Fundamental Review of the Trading Book, will strengthen capital requirements for banks and help boost their resilience.

Rising geopolitical tensions

Also within the broader macro-environment, the evolving geopolitical risk landscape has been on our radar for some time, considering the events of the past two and a half years, namely Russia’s war in Ukraine and the conflict in the Middle East.

While the direct impact of recent geopolitical events on the banking sector has been contained so far and the immediate threats are limited, we need to remain attentive and systematically assess the possible ramifications for banks. Geopolitical shocks are cross-cutting and could have direct and indirect effects on banks’ financial and non-financial risks.

For example, geopolitical shocks can exacerbate governance, operational and business model risks they lead to more sanctions or increased cyberattacks. We have seen a clear increase in the number of significant cyber incidents in 2023 and 2024, driven by attacks on service providers (typically ransomware) and by distributed denial-of-service attacks on banks. There can also be material consequences for banks’ credit, market, liquidity, funding and profitability risks, especially in cases where banks have large-scale direct or indirect balance sheet exposures to the countries, sectors, supply chains or firms and households that may be adversely affected by a geopolitical shock.

Moreover, geopolitical events can also have wider second-round effects that could have negative knock-on consequences for the banking sector. For instance, downside risks to growth from slower economic activity or worsened sentiment as well as upward pressure on inflation related to supply or price shocks in energy or broader commodity markets can disrupt banks’ operating environment. Escalating geopolitical tensions might also result in heightened financial market volatility, triggering further episodes of asset price corrections.

The recent increase in geopolitical tensions calls for heightened scrutiny and robust risk management frameworks in banks, so that supervisors and banks can properly assess potential risks in the evolving geopolitical environment and proactively mitigate them. As Supervisory Board Chair Claudia Buch said recently¹, strengthening resilience to geopolitical shocks is a key priority for ECB Banking Supervision, and we will focus on a range of risk factors, from governance and risk management to capital planning, credit risk and operational resilience.

Peripheral vision

And now, let us exercise our athletic capabilities, and use our peripheral vision to look at the wider risk landscape.

Structural trends, such as the reconfiguration of the financial value chain, the impact of digitalisation and social media on liquidity, and the rise of non-bank financial institutions, are reshaping the environment in which banks operate.

Reconfiguration of the financial value chain

The emergence of big tech companies and other non-banking firms offering financial services is leading to a major restructuring in the market, changing the risk landscape, blurring traditional industry lines and challenging conventional regulatory boundaries.

Companies whose primary business is technology are entering the financial sector through e-commerce and payment platforms and subsequently expanding into retail credit, mortgage lending or crypto services. These firms may explore alternative, less regulated lending forms like crypto lending using peer-to-peer platforms, ultimately mimicking the economic functions of banks without being subject to the same comprehensive oversight.

We need to expand our tools and surveillance to prevent gaps in oversight and ensure they are robust and versatile enough to oversee disintermediated, increasingly interconnected and possibly distributed-ledger-based business models. We must adapt the regulation and oversight of such firms, especially for entities that are mainly active in non-financial services, to gain a thorough understanding of the financial activities of large non-bank groups across jurisdictions and sectors. Let me underscore that we should avoid a regulatory “race to the bottom” driven by a narrow mission of prioritising innovation and attracting large firms, which may not contribute to the good of society.

Liquidity risk supervision post-March 2023

Earlier, I asked how much of banks’ resilience is structural and how much is cyclical. Let us look at the banking turmoil of March 2023 to better understand how banks weathered this crisis and identify what lessons we have learnt with regard to liquidity and funding.

First, the events were a reminder to banks of the changing and increasingly volatile nature of depositor behaviour. Social media can play a pivotal role in encouraging large numbers of customers to withdraw deposits. In the case of Silicon Valley Bank, this behaviour was exacerbated by a highly networked and concentrated depositor base. Moreover, the advent of online banking, digitalisation, and the influence of non-bank competitors may also have a significant impact on depositor behaviour, affecting the stability of liquidity and funding sources. Therefore, banks must adapt their approaches so that they can monitor these risks more closely and understand the channels through which deposits are collected.

We recently conducted a targeted review on the diversification of funding sources and the adequacy of funding plans. Our findings indicate a concerning heterogeneity in the adverse scenarios considered by significant banks. Often, these scenarios are only described at a high level, are not conservative, or only “stress” individual balance sheet items. The absence of comprehensive and credible underlying assumptions in these adverse scenarios reduces the reliability of funding plans and increases execution risk.

The events of March 2023 also underscored the importance of banks’ readiness to swiftly implement contingency and recovery measures. Another recent targeted review focused on collateral mobilisation. It found that banks have the operational capacity to tap central bank liquidity facilities. However, banks’ assumptions about the time needed to monetise the assets appear rather optimistic in some cases, especially under stressed conditions. This optimism could hinder banks’ ability to cover any unexpected outflows in a timely and sufficient manner.

Furthermore, banks need to adopt a more holistic and comprehensive cross-risk analysis of potential vulnerabilities. The turmoil demonstrated how quickly deficiencies in business models and shortcomings in the management of interest rate risk in the banking book (IRRBB) can escalate into liquidity issues. It is essential to assess spillover effects and understand how shortcomings in one area can amplify risks in another.

From a regulatory perspective, the events of spring 2023, along with past crises, have shown that compliance with the liquidity coverage ratio (LCR) and the net stable funding ratio (NSFR) may not provide sufficient assurance about a bank’s liquidity and funding situation. For instance, an LCR above 100% might still hide significant cliff risks just beyond the 30-day horizon. Two banks with identical LCRs might have vastly different liquidity profiles owing to concentration risks not captured by the ratio.

However, it is important to remember that the LCR and the NSFR do not – and are not intended to – prevent all liquidity crises. They are not designed to address every residual risk, which should be managed on a case-by-case basis under Pillar 2. So while we support a review of specific aspects of the current calibration of these metrics, we are cautious about drastic changes.

Instead, I would focus on the supervisory follow-up. And I can draw four main lessons with regard to the supervision of liquidity risk.

First, supervisors, like banks, need to carry out holistic cross-risk analysis. Instead of looking at risks in isolation, we need to broaden our gaze and also focus on the interplay between IRRBB, liquidity risk management and governance arrangements.

Second, we need increased supervisory scrutiny of banks’ modelling of non-maturity deposits, as these models are sometimes not based on proper economic evidence.

Third, it is essential that supervisors consider supplementary liquidity and funding risk indicators, such as survival period or concentration metrics, to capture residual risks not addressed by the LCR or the NSFR. In European banking supervision we have successfully used maturity ladder reporting to calculate survival periods, which provides a more comprehensive analysis beyond the fixed calibration of the LCR and the NSFR.

Finally, the March 2023 turmoil demonstrated the need for timely and up-to-date information on liquidity and funding. We therefore introduced weekly data collections for liquidity risks in September 2023. This has been instrumental in identifying changes and detecting structural shifts across the banking system.

Growth of non-bank financial institutions

Another issue we detect in our peripheral vision is the staggering growth of the non-bank financial institution (NBFI) sector. In the euro area, the sector has more than doubled in size, from €15 trillion in 2008 to €32 trillion in 2024. Globally, the numbers are even more worrying, with the sector growing from €87 trillion in 2008 to €200 trillion in 2022.

The private credit market is of particular concern. It accounts for €1.6 trillion of the global market and has also seen significant growth recently. The European private credit market has grown by 29% in the last three years but is still much smaller than the market in the United States, which is where investors and asset managers are often based. The end investors are pension funds, sovereign wealth funds and insurance firms, but banks play a significant role in leveraging and providing bridge loans at various levels to credit funds. We have recently completed a deep dive on the topic and found that banks are not able to properly identify the detailed nature and levels of their full exposure to private credit funds. Therefore, concentration risk could be significant.

We know that risk from the NBFI sector can materialise through various channels. One of them is through the correlation of exposures, especially given the growth in private credit and equity markets. We supervisors do not have a full picture of the level of exposure and correlations between NBFI balance sheets and bank lending arrangements, lines of credit or derivatives to and from NBFIs.

To make the market less opaque and more visible within even our fringe and central line of sight, we should further harmonise, enhance and expand reporting requirements. We need to make information sharing between authorities easier at global level to provide the visibility we need to play with more agility on the field.

Conclusion

Earlier, I asked how much of the banking system’s resilience is cyclical and how much is structural. I think it is safe to say that the European banking system is in better shape today than it was ten years ago. This won’t surprise anyone in this room. Stronger capital and liquidity positions and healthier balance sheets are objective factors contributing to the resilience of the system.

Still, I am a supervisor, so I am paid to worry. If my career has taught me anything, it’s that accidents are more likely to happen when people get complacent. This is why I am calling on you to use your full vision – not only your central and fringe vision, but your peripheral vision too. Crises often emerge from the shadows, and it’s the overlooked risks that pose the greatest danger.

Let me conclude with another lesson that I have learnt during my career. It’s a quote from Mark Twain: “There is no education in the second kick of a mule”. We have seen too many crises caused by hidden risks lurking beneath the surface – the ones we fail to see until it’s too late – which is precisely why we must get ahead of these risks this time around.

Thank you very much for your attention.

MIL OSI Economics –

January 23, 2025
MIL-OSI Economics: Adriana D Kugler: The global fight against inflation

Source: Bank for International Settlements

Charts and figures accompanying the speech

Thank you, Isabel, and thank you for the opportunity to speak here at the ECB today. I am particularly pleased to be part of this year’s conference because the theme you have chosen has, for some time now, also been a theme of my career as an academic and public servant. Every day, of course, central bankers must bridge science and practice, drawing on the insights that research provides, specifically, because the economy and the world are continuously subject to new circumstances. We must do so, and put those insights into practice, because everyone in the United States, and in Europe, and around the world, depends on a healthy and growing economy, and depends on policymakers making the right decisions to help keep it that way.

But well before I came to the Federal Reserve, I was also bridging science and practice. First, as a labor economist, when, for example, I was exploring how employment, productivity, and earnings are influenced not only by educational attainment and experience, but also by policies. Later, as chief economist at the Department of Labor, I brought science to bear in carrying out its mission of supporting workers. As the U.S. representative at the World Bank, economic science was likewise crucial in deciding how to best direct the institution’s resources to where they were needed the most. In each of these roles, I have learned a bit more about the need to balance rigorous scientific understanding of the problems that people face with the real-world experiences of those people, which sometimes do not fit so neatly into an economic theorem or principle.

Most recently, my colleagues and I on the Federal Open Market Committee (FOMC) have been focused on the very practical task of reducing inflation while keeping employment at its maximum level. To understand the recent experience of high inflation in the United States, it is helpful to consider how inflation behaved around the world after the advent of the COVID-19 pandemic. In the remainder of my remarks, I will discuss the global dimensions of the recent bout of high inflation in different economies, both comparing similarities and contrasting differences, with a special emphasis on the factors that enabled the United States to achieve disinflation while having stronger economic activity relative to its peers. I will then conclude with some comments on the U.S. economic outlook and the implications for monetary policy.

MIL OSI Economics –

January 23, 2025
MIL-OSI Asia-Pac: Golden Week attracts 1.38m visitors

Source: Hong Kong Information Services

The Mainland’s seven-day National Day Golden Week ended yesterday, and the Government today announced that the Immigration Department recorded a total of around 1.38 million visitors coming to Hong Kong through various sea, land and air control points during the week.

The overall number of inbound visitors aligned with earlier estimates, while the number recorded on October 1 reached a daily record high since the post-pandemic full opening of the borders, the Government added.

Among all visitors coming to Hong Kong, those from the Mainland accounted for about 1.22 million, representing 88% of the total arrivals.

The daily average of Mainland visitors was around 170,000, exceeding that of the 2023 National Day Golden Week and the 2024 Labour Day Golden Week at around 27% and 13% respectively.

Mainland inbound visitor arrivals peaked on October 1 with around 220,000 visitors arriving in Hong Kong, marking a daily record high since the post-pandemic opening of the borders and setting a corresponding record for the overall number of visitors to Hong Kong in a single day.

During the National Day Golden Week, the Lok Ma Chau Spur Line and the Express Rail Link West Kowloon were the two ports with the highest daily average number of Mainland visitors, and operations at various control points and transport services ran smoothly.

Regarding large-scale events, the National Day Fireworks Display over Victoria Harbour on October 1 attracted over 330,000 spectators and concluded with effective crowd control arrangements.

According to the information provided by the hotel industry, the overall hotel occupancy rate during October 1 to 4 reached 90%.

Based on the Travel Industry Authority’s information, around 1,050 Mainland inbound tour groups visited Hong Kong during the National Day Golden Week, with around 80% engaged in overnight itineraries.

These tour groups involved around 36,000 visitors, accounting for around 3% of all Mainland visitors.

The interdepartmental working group on festival arrangements, led by Chief Secretary Chan Kwok-ki, is pleased to note that the rich array of National Day special offers from the Government and various sectors of society were well-received by the public.

Among them, the “1st October Movie Fiesta: Half-Price Spectacular 2024” subsidised by the Government recorded cumulative admissions reaching 189,000, breaking last year’s record of 155,000.

Mr Chan said the concerted efforts of relevant government departments, organisations and industries in making preparations and responses enabled smooth arrangements for receiving visitors, and allowed both locals and visitors to celebrate National Day together.

“The Government will draw on this experience and further enhance various arrangements in future to provide an even better experience for visitors to Hong Kong during festive periods.”

MIL OSI Asia Pacific News –

January 23, 2025
MIL-OSI Global: How discovering the power of allusion enabled me to write better rap music

Source: The Conversation – UK – By Paul Stephen Adey, Rap Lyricist and Lecturer in Music Performance at Confetti Institute of Creative Technology, Nottingham Trent University

For the first half of my music career, I never fully considered the technical aspects of the art form I practised. Up until my mid-30s, I’d been driven to pen lyrics by a compelling sense of advancement and peer recognition – to achieve some form of artistic acclaim in the UK rap genre.

When thinking back to this earlier time, I imagine myself as being completely immersed in a darkness of my own ignorance, scrabbling around for passages and phrases without any real understanding of how and why these elements of the craft meant so much to me.

As a mature student – during the final stages of a masters degree in creative writing – a seed of self-discovery began to germinate. I decided to combine my newly acquired passion for creative writing, critical analysis and literary techniques with my 20 years’ plus career as a rapper, music producer and live performer and embark on a PhD.

On beginning my research, it became apparent that a technical element of my craft I desperately coveted was called “allusion”. Allusion is an implied reference, perhaps to another work of literature, art, person or event that forms a kind of appeal to the reader or listener. It’s a means of reaching out and sharing an experience with them.

When using allusion, a writer draws upon common knowledge shared with their audience to find links between cultural understandings or traditions. Most importantly for me, some forms of allusion can be more specialised, even deliberately difficult to grasp. Almost immediately, a realisation hit me: I had practised, been inspired by, adapted and searched for, this technique in rap since my earliest memories of the art form.

Allusion, as with the more contested literary concept of intertextuality (a term coined in the late 1960s by French philosopher and critic Julia Kristeva to recognise the multiplicity of meaning within a text) has been used in rap and hip-hop culture since its beginnings. In fact, as musicologist Justin Williams points out in his book Rhymin’ and Stealin’ (2013), intertextuality serves as an integral part of the culture’s function. To “borrow” from a wide variety of artistic mediums is key to how hip-hop works, and is partly responsible for how it has thrived for half a century.

I discovered multiple forms of intertextual engagement in rap while researching my PhD, but one technique stuck out to me the most. Rappers would draw on the words of authors to clarify their points, or further emphasise emotional impact in their work.

For example, Nas and Kendrick Lamar have used the power of novelist Alice Walker’s writing to enhance their lyrics (both have “borrowed” from The Colour Purple). Lamar also employed the writing of Maya Angelou to add depth and complexity to his early conceptual material.

Even borrowing a mere two words can have huge intellectual implications for a rap song. Just listen to Earl Sweatshirt’s Shattered Dreams (2018), and his use of James Baldwin’s voice from his inspirational 1962 lecture The Artist’s Struggle for Integrity. It’s a prime example of how this technique manifests itself in the genre.

When thinking about how rappers engage with allusion and intertextuality, activist and rap artist Yasiin Bey, aka Mos Def, sums it up well:

Hip Hop is a medium where you can get a lot of information into a very small space. And make it hold fast to people’s memory. It’s just a very radical form of information transferal.

A ‘sonic-literary journey’

With a clearer understanding of how deeply allusion and intertextuality runs through hip-hop, I began to craft a new body of work. This material eventually translated (after almost a decade) into a trilogy of LPs, the first of the three being titled S.T.A.R.V.E..

I wanted to make S.T.A.R.V.E. part of a literary and musical tradition that has long attempted to decipher the feeling of isolation, and its links to mental illness or psychological downfall.

To do so, I alluded to (and intertextually engaged with) various texts that have historically served as investigations into the sense of disconnectedness, or loneliness within a crowd, that I believe we have all felt at some point in our lives. In my opinion, S.T.A.R.V.E. is more of a novella than an album. It is a narrative as old as the hills, retold in my own image. It just so happens that my preferred medium is music, and my preferred practice is rap.

Strongbow, the leading track on the author’s album, S.T.A.R.V.E.

S.T.A.R.V.E. is a highly intertextual project. Poetic quotes on the album span from Charles Bukowski to Robert Frost, while borrowed themes stretch from Kendrick Lamar’s To Pimp a Butterfly (2015) to Knut Hamsun’s Hunger (1890).

Previously conceived conceptual frameworks are also built upon, such as the nihilistic sentiment captured in Nas’s early work on Illmatic (1994), and Mark Fisher’s ideas on capitalism and “depressive anhedonia” in Ghosts of my Life (2014). This is all set against a backdrop of purgatorial imagery prominent in the work of figurative painter Francis Bacon and depicted by film director Adrian Lyne in his groundbreaking psychological horror film, Jacob’s Ladder (1990).

Of all artistic mediums, I believe music is most open for interpretation. This means that what is taken from the music can often seem a million miles from authorial intentions. But this might be the point.

When S.T.A.R.V.E. is heard, it will ultimately be down to the ear of the beholder as to which connections and meanings are drawn from the recording. At the end of the day, as Ethan Hawke states on Strongbow, a leading track taken from S.T.A.R.V.E. that quotes Paul Schrader’s 2017 film, First Reformed: “It’s about you.”

Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

I dedicate this article to Mark Fisher, whose writing on themes that run close to S.T.A.R.V.E.’s heart serves as another intertextual source of power for the LP. In 2014, Fisher wrote: “The pandemic of mental anguish that afflicts our time cannot be properly understood, or healed, if viewed as a private problem suffered by damaged individuals.”

– ref. How discovering the power of allusion enabled me to write better rap music – https://theconversation.com/how-discovering-the-power-of-allusion-enabled-me-to-write-better-rap-music-238286

MIL OSI – Global Reports –

January 23, 2025
MIL-OSI Global: Can Montana’s ‘last rural Democrat’ survive another election?

Source: The Conversation – USA – By Lee Banville, Professor and Director of the School of Journalism, University of Montana

U.S. Sen. Jon Tester speaks to union members at a Labor Day campaign stop on Sept. 2, 2024, in Billings, Mont. William Campbell/Getty Images

Jon Tester has never had it easy.

The three-term Democratic senator from Montana has scored more than 50% of the vote only once in his three runs for the U.S. Senate, attracting 50.3% of the vote in 2018 against state auditor and future U.S. Rep. Matt Rosendale.

This year, Tester’s always-perilous path to reelection seems narrower and more harrowing than ever before. And the outcome could determine whether the Senate remains in Democratic control or flips to the Republicans.

Current polls and political prognosticators are even starting to turn on the moderate from the farming community of Big Sandy with the flattop haircut. FiveThirtyEight has Tester’s opponent, former Navy SEAL and businessman Tim Sheehy, up four percentage points, and the venerable Cook Political Report has gone so far as to say the race “leans Republican.”

For Montana State University political scientist Jessi Bennion, this election may be the end of an era in rural America.

“I used to always call Tester the unicorn candidate because there was no one like him,” she told my students a couple of weeks back. “He was a farmer, he was a rural Democrat, the last rural Democrat.”

Jon Tester, right, first won election to the U.S. Senate in 2006, when he beat Republican incumbent Conrad Burns, left, by a margin of 3,562 votes out of 406,505 cast.
Win McNamee/Getty Images

The end of the unicorn?

I teach political reporting at the University of Montana School of Journalism, and every two years I send students out to interview candidates, profile races and talk with voters. It is true that the state has changed even since Tester won in 2018.

Despite an influx of outsiders over the past decade, Montana is still a sparsely populated state boasting 1.1 million people in the latest census. Though the state has historically relied on mining and timber for much of its economy, new economic activity in tourism and technology have helped fuel a 10% jump in population in the most recent census.

But with that influx, housing costs have soared and so have property taxes. It also leaves one of Montana’s political traditions in danger.

See, Montana has a history of doing something very few people do these days – ticket splitting, when a person votes in an election for candidates from opposing parties. In a time of deep polarization, it is hard to imagine, but out here in the Rocky Mountains and the northern plains, voters would consistently vote for a Republican for president and often for the Legislature, but also for Democrat Jon Tester.

Tester was able to put together a coalition of voters in the few pockets of liberals – college towns such as Missoula, union strongholds such as Butte and Indigenous voters on the reservation – and carve away enough moderate voters in more rural areas to eke out wins. When I moved here in 2009, it was not just Tester who did this. Back then, Montana had a Democratic governor, attorney general and head of schools. But over time those statewide offices have all gone, often by double digits, to Republicans.

No Democrat has won statewide since Tester did it back in 2018.

Migration and the march from purple to red

Then COVID-19 hit Montana.

The state saw a surge in population, jumping nearly 5% between 2020 and 2023, and experts such as political scientist Jeremy Johnson told my students earlier this fall that it is important to know who these new residents are.

“I still think the race, you know, can be competitive,” Johnson said. “I do think that some of my broader themes here – the polarization, the calcification, the reluctance to ticket split – makes it harder for Tester. Plus, I think there is some evidence that more Republican-leaning voters have moved to the state than Democrat-leaning voters in the last few years.”

One analysis reported on by the Montana Free Press found that for every two Democrats who moved to Montana since 2008, three Republicans did.

Montana does not have party registration, so when you vote in a primary, they give you a ballot for both parties, and you choose the one you want to participate in. In the highly publicized U.S. Senate primary this year, only 36% of primary voters voted in the Democratic primary, while 64% chose to vote in the Republican primary.

The one question mark of 2024

Supporters of an abortion rights initiative at a rally on Sept. 5, 2024, in Bozeman, Mont., with Sen. Jon Tester, whose path to reelection may be helped by a large turnout of abortion rights voters.
William Campbell/Getty Images

Ask Sen. Tester, and he will say his campaign is anything but over. He is stressing his independence from his political party, how Republican President Donald Trump signed bills he sponsored and his long-running support of veterans as cornerstones of his campaign.

But his path to reelection may run right through Roe v. Wade.

Montana’s constitution was written in 1972, and it has some pretty progressive elements, including a right to a clean environment and an explicit right to privacy, as opposed to the more implied one in the U.S. Constitution. And in 1999, the state Supreme Court said that right to privacy included abortion access.

Still, in part to ensure that a later court decision could not strip away that right, voters have put CI-128 on the ballot this fall, which would explicitly include protection for abortion access in the state constitution.

Tester hit the issue hard in his last debate with Sheehy on Sept. 30, 2024.

“The bottom line is this: Whose decision is it to be made?” Tester said during the debate. “Is it the federal government’s decision, the state government’s decision, Tim Sheehy’s decision, Jon Tester’s decision? No, it’s the woman’s decision. Tim Sheehy’s called abortion ‘terrible’ and ‘murder.’ That doesn’t sound to me like he’s supporting the woman to make that decision.”

Tester’s supporters hope the initiative could inspire younger voters and moderate women to flock to the polls this fall, and that might make Tester’s path to reelection a bit more doable.

But it is going to take a bit of unicorn magic, perhaps, for Tester to win a fourth term.

Back at Montana State University, Bennion said the situation looks pretty dire for the Democrats in rural states.

“I don’t see, unless our state changes in a lot of different ways, I don’t see a Democrat winning in a long time,” he said. “Just the way our state is growing, the kind of person that is moving here and voting.”

Lee Banville does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Can Montana’s ‘last rural Democrat’ survive another election? – https://theconversation.com/can-montanas-last-rural-democrat-survive-another-election-240647

MIL OSI – Global Reports –

January 23, 2025
MIL-OSI Economics: Samsung and GBCSA Host Insightful Panel Discussion on Clean Air During World Green Building Week

Source: Samsung

As part of World Green Building Week, Samsung, in partnership with the Green Building Council of South Africa (GBCSA), hosted a compelling panel discussion themed ‘Planet Shapers’ on Thursday, 12 September 2024. The event, held at the Samsung DQX store at Design Quarter in Fourways, served as a crucial platform for knowledge sharing, networking, and dialogue on the intersection of clean air technology, climate change, and environmental health.

The session, expertly facilitated by Abi Godsell, GBCSA’s Research and Technical Coordinator, brought together a distinguished panel of industry leaders and experts in the heating, ventilation, and air conditioning (HVAC) field. The discussion featured Joseph Kaseke, HVAC Engineering Manager at Samsung; Annelide Sherratt, Head of Green Buildings Certification at Solid Green Consulting; Martin Smith International Professional Engineer and Design Director at Zutari; Matthew Marshall Co-founder and Partner at Redimension Capital; and Alex Varughese Senior Technical Coordinator at GBCSA.

The panelists addressed the profound impact of clean air technology on human health, productivity, and environmental sustainability. The conversation underscored that clean air is not only vital for well-being but also plays a crucial role in enhancing productivity across various building types, from residential homes and schools to hospitals, offices, and recreational facilities such as malls and museums.

When sharing his insights, Kaseke noted a World Health Organisation article published back in 2018, which stated that wildfires, climate change, city pollution, greenhouse gases, and pandemics were the biggest aspects that were detrimental to the health of our respiratory systems. He stressed the importance for manufacturers of air-conditioners to consider and ensure that when they build their products, they take into account all these factors and thus produce air-conditioners that create clean air which would be good for users’ health, while also being comfortable for them.

He also spoke about the latest advancements in Samsung’s HVAC systems designed to improve indoor air quality and said these innovations are crucial in mitigating the effects of pollution and creating healthier living and working environments. Kaseke shared four air-conditioners that have shown to be excellent in the provision of clean air.

WindFree 1-Way Cassette (Indoor Unit), which is Samsung’s best-selling air-conditioning unit globally, comes with prefiltration, deodorisation and PM 1.0 filters and its cooling helps maintain a comfortable level of coolness without the feeling of direct cold wind draft. At a height of only 135 mm, it is the thinnest indoor air-cooling unit in Samsung’s line-up. The compact, lightweight design makes installation and maintenance in your space easier than ever. These high-performing units are so subtle that they can easily blend into interiors of all types and styles. A quiet workplace is not only more comfortable for employees, but it also aids productivity.

The bigger capacity WindFree 4-Way Cassette also maintains a comfortable level of coolness as cool air is gently dispersed through 15,672 micro air holes, so you won’t feel too cold. It has a prefiltration filter, a secondary filter for dust electrification as well as the PM 1.0 filter that all work together to remove the air’s impurities. The 4-Way Cassette allows efficient energy saving of up to 55%[1] and has a Motion Detect Sensor which enables customised air flow and energy efficient operation.

According to Kaseke, the best in the line-up in terms of design is the 360 Cassette, which has the most momentum in all these air purification categories and ideal for large open spaces. It also comes standard with all the filtration features. Its innovative circular design can match a multitude of interior designs, so it perfectly fits in everywhere. Its minimalist modern styling creates a sophisticated look, and its circular shape stands out beautifully. The AR9000 wall-mounted unit, which is the premium range of Samsung’s residential line-up also comes with that same technology.

The panel concluded with a call to action, urging attendees and the broader public to prioritise clean air in their environmental strategies. The discussion reaffirmed the necessity of collaborative efforts among companies, communities, and individuals to combat climate change and enhance the quality of life through improved air quality.

The session was a testament to the power of dialogue and collaboration in driving forward the green building agenda. It highlighted how technological advancements, and thoughtful strategies can collectively contribute to a healthier planet and more sustainable future.

Tested on Outdoor unit AC140MXADKH, Indoor unit AM140FN4DEH when running simultaneously. Individual result may vary depending on consumer usage.

MIL OSI Economics –

January 23, 2025
MIL-OSI Africa: Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations
Source: The Conversation – Africa – By Nicholas Westcott, Professor of Practice in Diplomacy, Dept of Politics and International Studies, SOAS, University of London

The United Kingdom is resetting its relations with Africa and other countries in the global south after more than a decade of neglect. At the United Nations in September, British prime minister Keir Starmer promised his government was

returning the UK to responsible global leadership.

This should include reconnecting with the countries of the global south which feel they have been neglected and among whom Britain’s voice is now at a discount.

The new Labour government’s recently launched reviews of Britain’s global impact and its international economic and development policies provide an opportunity to reevaluate and relaunch these relations. The opportunity must be seized for the sake of global stability.

The post-cold war order is fraying. America is increasingly reluctant to act as a global guarantor for a multilateral system governed by international rules and respecting human rights and freedoms. China, Russia and emerging middle powers such as Iran, Turkey and the Gulf States seem happier with a multipolar system based on the exercise of military and economic power. Meanwhile, the accelerating impact of climate change adds to the challenges to regional stability in Africa, Asia and the Middle East.

I have followed these questions for nearly 50 years, as an academic and diplomat. Much has changed in those years, but recent British governments have been slow to adapt to these changes. To reconnect with countries in Africa and the global south, Britain needs a new attitude as well as new policies; and, paradoxically perhaps, the Commonwealth can play a constructive role in achieving this.

Britain’s problem

Distracted by its domestic political and economic difficulties since Brexit, recent British governments have neglected both Africa and the Commonwealth.
- Aid has been cut, and policy incoherence exacerbated by the merger between the Foreign and Commonwealth Office and Department for International Development.
- An investment conference with Africa due earlier in 2024 was scrapped at short notice.
- Successive prime ministers gave little time to meeting African and other leaders from the global south. They had no answer to the questions being asked about Britain’s relationship with the south.
Yet Britain’s links to these countries remain strong. Not least through the growing diaspora communities in the UK that are now an integral part of Britain’s social and political fabric. With 5.5 million people of Asian heritage and 2.5 million of African or mixed heritage in the UK in 2021, these bonds need to be politically recognised.

Read more: How Commonwealth countries have forged a new way to appoint judges

Most of those Britons come from Commonwealth countries. The Commonwealth as an organisation is no substitute for closer engagement with individual countries. But it provides a forum where connections can be made and a new, more equal relationship built.

Though British governments have neglected it, King Charles, the ceremonial head of the Commonwealth, has not, as his visit to Kenya in 2023 showed. And other countries are still seeking to join, as Gabon and Togo did last year.

Commonwealth heads of government meeting

From 21-26 October Samoa will host the biennial Commonwealth Heads of Government meeting (Chogm), which will choose a new secretary-general – this time from Africa. The summit brings together representatives from every continent: from G7 members to least developed countries, from the most populous country (India at 1.45 billion people) to the smallest (Tuvalu with under 10,000), from major greenhouse gas emitters to small islands at risk of disappearing beneath the sea.

Despite its imperial origins, the Commonwealth is an international network that cuts across the multi-polarity that risks dividing the world. It includes countries from the global south, the global north and the global east. The diversity makes it an ideal forum for honest conversations on difficult issues like climate change and multilateral institutional reform.

Unlike the recent Forum on China-Africa Cooperation (Focac) in Beijing, the Commonwealth is an organisation run by its members. They share common values and interests as well as a common language. They come together to exchange ideas, not pledges of investment or aid. Its traditions of democracy and equality between members make it unique and valuable. It provides, for example, a ready-made network of global influence for any member state. For small island states, particularly in the Caribbean and Pacific, it is one forum where their voices can be amplified.

This is important. With the community of nations struggling to address global challenges of the scale of climate change and pandemics, or to resolve regional conflicts, opportunities to build consensus are needed more than ever. The wars in Ukraine, the Middle East, the Sahel and the Horn of Africa are a portent of things to come if we fail to sustain a global structure that can resolve rather than exacerbate such conflicts. UN peacemaking efforts might then be crowned with success rather than with futility and frustration.

What Britain needs to do

Britain is only one among many voices, so it needs a persuasive narrative that will help preserve a world order that can tackle humanity’s challenges, rather than one that simply fights over what is left. The Commonwealth, like the UN, is a place where the UK can start building support for a more equal and more effective global system.

A new narrative, and a new relationship with Africa and the global south, should be based on four elements.

Firstly, repentance for sins past. Britain’s empire played a central role in making the modern world, for better and worse. While the better is often taken for granted, the sins of empire still rankle, and – like a stone in the shoe – will distract relations. Best therefore to acknowledge them, and move forward.

Secondly, the new relationship must be based on mutual respect and partnership. In particular, the age of traditional development programmes with their paternalistic tendencies is past. What countries in the global south are seeking, as many feel they do get from China, is a genuine partnership of equals that recognises the relationship as a whole and focuses on the political as well as economic sources of growth.

Thirdly, Britain needs to work with African and other southern governments to amplify their voice in multilateral institutions such as the UN and international financial institutions, so that those institutions genuinely protect their interests and those countries defend the institutions.

Finally, Britain needs to engage with the public as much as with governments in these countries. The BBC World Service, the British Council and Britain’s education sector are becoming more important in challenging disinformation as the battle of narratives hots up. Now is the time to reinforce them, not let them fade away.

A new narrative along these lines at Chogm, and incorporated into the government’s reviews, could be the start of a genuine reset in Britain’s relationship with the global south, to the benefit of all.

– Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations
– https://theconversation.com/britain-has-neglected-africa-and-the-commonwealth-for-over-a-decade-4-ways-it-can-reset-relations-239852

MIL OSI Africa –
January 23, 2025
MIL-OSI Global: Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations
Source: The Conversation – Africa – By Nicholas Westcott, Professor of Practice in Diplomacy, Dept of Politics and International Studies, SOAS, University of London

The United Kingdom is resetting its relations with Africa and other countries in the global south after more than a decade of neglect. At the United Nations in September, British prime minister Keir Starmer promised his government was

returning the UK to responsible global leadership.

This should include reconnecting with the countries of the global south which feel they have been neglected and among whom Britain’s voice is now at a discount.

The new Labour government’s recently launched reviews of Britain’s global impact and its international economic and development policies provide an opportunity to reevaluate and relaunch these relations. The opportunity must be seized for the sake of global stability.

The post-cold war order is fraying. America is increasingly reluctant to act as a global guarantor for a multilateral system governed by international rules and respecting human rights and freedoms. China, Russia and emerging middle powers such as Iran, Turkey and the Gulf States seem happier with a multipolar system based on the exercise of military and economic power. Meanwhile, the accelerating impact of climate change adds to the challenges to regional stability in Africa, Asia and the Middle East.

I have followed these questions for nearly 50 years, as an academic and diplomat. Much has changed in those years, but recent British governments have been slow to adapt to these changes. To reconnect with countries in Africa and the global south, Britain needs a new attitude as well as new policies; and, paradoxically perhaps, the Commonwealth can play a constructive role in achieving this.

Britain’s problem

Distracted by its domestic political and economic difficulties since Brexit, recent British governments have neglected both Africa and the Commonwealth.
- Aid has been cut, and policy incoherence exacerbated by the merger between the Foreign and Commonwealth Office and Department for International Development.
- An investment conference with Africa due earlier in 2024 was scrapped at short notice.
- Successive prime ministers gave little time to meeting African and other leaders from the global south. They had no answer to the questions being asked about Britain’s relationship with the south.
Yet Britain’s links to these countries remain strong. Not least through the growing diaspora communities in the UK that are now an integral part of Britain’s social and political fabric. With 5.5 million people of Asian heritage and 2.5 million of African or mixed heritage in the UK in 2021, these bonds need to be politically recognised.

Read more:
How Commonwealth countries have forged a new way to appoint judges

Most of those Britons come from Commonwealth countries. The Commonwealth as an organisation is no substitute for closer engagement with individual countries. But it provides a forum where connections can be made and a new, more equal relationship built.

Though British governments have neglected it, King Charles, the ceremonial head of the Commonwealth, has not, as his visit to Kenya in 2023 showed. And other countries are still seeking to join, as Gabon and Togo did last year.

Commonwealth heads of government meeting

From 21-26 October Samoa will host the biennial Commonwealth Heads of Government meeting (Chogm), which will choose a new secretary-general – this time from Africa. The summit brings together representatives from every continent: from G7 members to least developed countries, from the most populous country (India at 1.45 billion people) to the smallest (Tuvalu with under 10,000), from major greenhouse gas emitters to small islands at risk of disappearing beneath the sea.

Despite its imperial origins, the Commonwealth is an international network that cuts across the multi-polarity that risks dividing the world. It includes countries from the global south, the global north and the global east. The diversity makes it an ideal forum for honest conversations on difficult issues like climate change and multilateral institutional reform.

Unlike the recent Forum on China-Africa Cooperation (Focac) in Beijing, the Commonwealth is an organisation run by its members. They share common values and interests as well as a common language. They come together to exchange ideas, not pledges of investment or aid. Its traditions of democracy and equality between members make it unique and valuable. It provides, for example, a ready-made network of global influence for any member state. For small island states, particularly in the Caribbean and Pacific, it is one forum where their voices can be amplified.

This is important. With the community of nations struggling to address global challenges of the scale of climate change and pandemics, or to resolve regional conflicts, opportunities to build consensus are needed more than ever. The wars in Ukraine, the Middle East, the Sahel and the Horn of Africa are a portent of things to come if we fail to sustain a global structure that can resolve rather than exacerbate such conflicts. UN peacemaking efforts might then be crowned with success rather than with futility and frustration.

What Britain needs to do

Britain is only one among many voices, so it needs a persuasive narrative that will help preserve a world order that can tackle humanity’s challenges, rather than one that simply fights over what is left. The Commonwealth, like the UN, is a place where the UK can start building support for a more equal and more effective global system.

A new narrative, and a new relationship with Africa and the global south, should be based on four elements.

Firstly, repentance for sins past. Britain’s empire played a central role in making the modern world, for better and worse. While the better is often taken for granted, the sins of empire still rankle, and – like a stone in the shoe – will distract relations. Best therefore to acknowledge them, and move forward.

Secondly, the new relationship must be based on mutual respect and partnership. In particular, the age of traditional development programmes with their paternalistic tendencies is past. What countries in the global south are seeking, as many feel they do get from China, is a genuine partnership of equals that recognises the relationship as a whole and focuses on the political as well as economic sources of growth.

Thirdly, Britain needs to work with African and other southern governments to amplify their voice in multilateral institutions such as the UN and international financial institutions, so that those institutions genuinely protect their interests and those countries defend the institutions.

Finally, Britain needs to engage with the public as much as with governments in these countries. The BBC World Service, the British Council and Britain’s education sector are becoming more important in challenging disinformation as the battle of narratives hots up. Now is the time to reinforce them, not let them fade away.

A new narrative along these lines at Chogm, and incorporated into the government’s reviews, could be the start of a genuine reset in Britain’s relationship with the global south, to the benefit of all.

Nicholas Westcott does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Britain has neglected Africa and the Commonwealth for over a decade: 4 ways it can reset relations – https://theconversation.com/britain-has-neglected-africa-and-the-commonwealth-for-over-a-decade-4-ways-it-can-reset-relations-239852
MIL OSI – Global Reports –
January 23, 2025
MIL-OSI Global: Opt-out laws designed to make organ donation easier may have actually made it harder, says research

Source: The Conversation – UK – By Leah McLaughlin, Research Officer in School of Health Sciences, Bangor University

In 2020, England introduced an opt-out system for organ donation with the aim of making it easier for organs to be donated after a person’s death. The Organ Donation (Deemed Consent) Act 2019 assumed that unless someone explicitly opted out, they consented to organ donation.

This change was expected to boost the number of organ donations and, ultimately, save more lives. But research by my colleagues and I reveals a different story. Rather than simplifying organ donation, the law has created more confusion and complications. This may help explain why organ donation rates haven’t recovered from the drop seen during the pandemic.

Before the change in the law, organ donation in England required people to opt in to the system by registering their consent. With the new system, unless adults over the age of 18 opt out, their consent is presumed. The law is however “soft”. Families are supposed to support the decision, but can still override it, if they disagree, without consequence.

The law, introduced during the height of the COVID-19 pandemic, was meant to increase donation rates by shifting the burden from individuals needing to sign up to individuals needing to declare they didn’t want to donate organs or tissue. Similar laws had already been implemented in Wales in 2015 and later in Scotland in 2021.

But the results haven’t lived up to expectations. Consent rates for organ donation in England have dropped since the law came into effect, from 67% in 2019 to 61% in 2023. The same has happened in Wales where donation rates have reduced from 63% to 60.5%, and in Scotland where rates have dropped from 63.6% to 56.3%.

This drop coincided with the spread of COVID-19, and it’s difficult to untangle the consequences of the change in the law with the lasting effects of the pandemic on how people interact with health services. But it does mean that potential organ donors don’t necessarily leave explicit instructions that they wish to donate, which may affect how their families, and the healthcare staff responsible for implementing the law, feel.

Our research involved interviewing the families of potential organ donors and healthcare professionals involved in the process. We found that many families still said they wanted to be the final decision-makers, even though the law presumed their loved one’s consent. This reflects the potential for confusion and stress at an already difficult time.

What went wrong?

An important issue is that the deemed consent law challenges the longstanding norm in healthcare that emphasises explicit consent, and particularly the role of familial consent. This divergence from established ethical practices has placed healthcare professionals in a difficult position. They now face a dilemma – they want to respect the law and increase organ donations, but they also risk being perceived as overstepping ethical boundaries by “taking organs” without clear family consent.

This fear of being seen as disregarding the emotions and rights of bereaved families has led to a high level of risk aversion among those responsible for implementing the law. Consequently, the processes involved in obtaining consent have become increasingly complex and cautious. This has undermined the law’s original purpose.

A sympathetic understanding of this situation is crucial, however. The risk-averse stance adopted by official bodies is not a failure of intention but a reflection of the ethical and emotional complexities surrounding organ donation.

Well-meaning legal changes, while theoretically sound, have encountered practical challenges that stem from the need to balance the law with respect for the sensitivities of grieving families.

The anticipated increase in organ donation has not materialised. Although the pandemic may have played a role in this, our research suggests that legislative changes alone are insufficient without addressing the underlying ethical tensions and the need for clear, compassionate communication with families during such difficult times.

Many families we spoke with didn’t fully understand the concept of deemed consent. This is where a decision to donate is assumed unless a person has actively opted out. In some cases, families struggled with the idea of their loved one undergoing surgery, losing sight of the potential lives saved through organ donation.

The process was also overwhelming. Families were faced with complex consent paperwork and lengthy procedures, adding to the emotional burden of losing a loved one.

shutterstock.
Kmpzzz/Shutterstock

What needs to change?

Our research suggests several possible ways to improve the system. Better public understanding is vital. Clearer public education campaigns are needed to explain to people how the opt-out system works and to healthcare providers the importance of discussing organ donation decisions with family members. Many people still don’t understand that if they don’t opt out, they are presumed to have given consent.

The process needs to be simplified too. Reducing the steps involved in “consenting” to organ donation would help ease the burden on grieving families.

Strengthening donor decisions may also help the situation. Giving more legal weight to decisions made in life, such as registration on the Organ Donor Register, could prevent families from overturning their loved ones’ wishes.

It’s important that healthcare professionals are trained appropriately. Nurses and doctors need better training to navigate the complexities of the law so they can help families during organ donation discussions.

And regular prompts encouraging people to update their organ donation preferences may help to ensure that families are aware of their loved ones’ wishes, reducing confusion at critical moments. Only then can we hope to increase organ donation rates and fulfil the goal of saving more lives.

Leah McLaughlin receives funding from National Institute Health Research (NIHR) and Health and Care Research Wales (HCRW).

– ref. Opt-out laws designed to make organ donation easier may have actually made it harder, says research – https://theconversation.com/opt-out-laws-designed-to-make-organ-donation-easier-may-have-actually-made-it-harder-says-research-228708

MIL OSI – Global Reports –

January 23, 2025
MIL-Evening Report: Bhutan’s king is set to visit Australia for the first time. Here’s why thousands will line the streets to see him

Source: The Conversation (Au and NZ) – By Tashi Dema, PhD Candidate in Language and Politics, University of New England

Deki, a 23-year-old resident of the remote town of Armidale, NSW, has been sleepless with excitement since the Bhutanese embassy in Canberra announced an upcoming visit from Bhutan’s fifth monarch, King Jigme Khesar Namgyel Wangchuck.

King Jigme Khesar will be visiting from October 10 to 16. It will be his first time in Australia, as well as the first ever visit from a Bhutanese head of state.

According to Bhutan’s ministry of foreign affairs and external trade, the king will meet with Australian government officials, business leaders and the Bhutanese community during his trip. Audiences with the king are scheduled in Sydney on October 12, Canberra on October 13, and Perth on October 16.

Deki will be travelling to Sydney by train on October 11 with about 60 people from Armidale’s Bhutanese community. The journey will take more than eight hours. Some residents will fly on the morning of October 12.

The Armidale residents have practised dances to present to the royal entourage. Their enthusiasm is palpable. With more than 35,000 Bhutanese people living in Australia, the embassy received an overwhelming number of registrations for the royal audience.

Chhimi Dorji, president of the Association of Bhutanese in Perth, said many Bhutanese residents applied for leave the moment the royal visit was announced. He said the community’s overwhelming excitement signifies a deep love and respect for the king.

A deep reverence for the king

Devotion to the king is ingrained in Bhutanese society; he is even considered a sacred figure. This love and respect stems from a view of the monarchy as a symbol of pride and unity.

My ongoing research on language and politics in Bhutan – as well as the many years I spent working there as a journalist – has revealed a genuine admiration for the king among the public. Research participants in rural Bhutan told me politicians should learn from the king in order to serve their people.

In 2008, King Jigme Khesar facilitated Bhutan’s transition from an absolute monarchy to a democratic constitutional monarchy. As party politics fragmented the small nation and divided people along party lines, the monarchy was seen as a beacon of hope.

The Bhutanese public’s devotion to its king defies theories which claim that the concept of the monarchy more broadly is becoming obsolete.

Serving the people

One reason King Jigme Khesar is so revered is because of his role in helping to build and advance Bhutan. During the pandemic, he was hailed for implementing pandemic response strategies and for visiting every nook and corner of the country to comfort citizens.

He has also implemented programs that provide important public services. For instance, Desuung, a volunteer training program that started in 2011, delivers volunteers for a variety of projects such as disaster operations and charity events. Another national service program, Gyalsung, was started this year.

Currently, the king is planning to develop the world’s first mindfulness city in Gelephu – a southern plain in Bhutan spanning more than 1,000 square kilometres – with hopes to attract foreign investment and encourage emigrated Bhutanese people to return.

Ahead of the royal visit, Sydney resident Tshering Palden said he and his children were clearly excited to greet King Jigme Khesar.

Besides other things, I am excited to hear about the developments around Gelephu Mindfulness City and how Bhutanese living abroad like me can be part of His Majesty’s brain child and the long-term nation building […]

Foreigners are also intrigued and very interested to know about the project and ask us a lot about it.

The Australian dream

As a landlocked country that really only made itself known to the world in 1999 (after internet and television were finally introduced), Bhutan is something of an enigma.

It is touted as the world’s happiest country, largely due to its uptake of a unique metric called “gross national happiness” in the 1970s. In 1972, King Jigme Singye Wangchuck (King Jigme Khesar’s father) proclaimed the country’s gross national happiness was an even more important measure of progress than gross domestic product (GDP).

Today, however, the tiny Himalayan country of about 800,000 people faces an existential crisis due to widespread unemployment and huge numbers of youth and young professionals moving overseas for a better future.

Australia remains a top destination for Bhutanese residents – and currently has more Bhutanese diaspora than any country in the world. Bhutan is also said to be Australia’s 14th largest source country for international students.

But despite living so far away, Bhutanese diaspora in Australia remain deeply rooted to their identity, culture and devotion to the monarchy. Most of them still celebrate the king’s birthday on February 21 each year, as well as Bhutan’s National Day on December 17.

Meanwhile, Deki – who has portraits of Jigme Khesar in her home in central Bhutan – says being able to meet the king will be a “dream come true”.

Tashi Dema does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Bhutan’s king is set to visit Australia for the first time. Here’s why thousands will line the streets to see him – https://theconversation.com/bhutans-king-is-set-to-visit-australia-for-the-first-time-heres-why-thousands-will-line-the-streets-to-see-him-239932

MIL OSI Analysis – EveningReport.nz –

January 23, 2025
MIL-OSI United Nations: Experts of the Committee on the Elimination of Discrimination against Women Commend the Lao People’s Democratic Republic for Elevating Gender Equality to the National Level, Raise Questions on the Treatment of Women Human Rights Defenders and on Human Tra

Source: United Nations – Geneva

The Committee on the Elimination of Discrimination against Women today concluded its consideration of the tenth periodic report of the Lao People’s Democratic Republic, with Committee Experts commending the State for elevating the issue of gender equality to the national level, while raising questions on its treatment of women human rights defenders, and how it was combatting human trafficking.

Jie Xia, Committee Expert and Country Rapporteur, said the Committee commended the Lao People’s Democratic Republic for elevating the issue of gender equality to the national level through domesticating the Convention, developing a law on gender equality, and developing a national action plan and strategy on gender equality, among other measures.

A Committee Expert said the Committee had received several names of female human rights defenders who had been poorly treated by the Government and the judiciary. Could the State party outline recent efforts to review and amend any existing laws, regulations, or decrees that may unduly restrict freedom of expression to ensure that these legal frameworks complied with international human rights standards, including the Convention? What measures was the State taking to investigate the disappearance, maltreatment and deaths of female human rights activists?

Another Expert said the Lao People’s Democratic Republic continued to be a renowned source of origin for migrant workers as well as increasingly becoming a country of transit and destination for sexual exploitation and human trafficking. What were some of the key policies that the National Steering Committee on Anti-Human Trafficking had introduced and implemented in terms of effective anti-trafficking measures? How was the implementation of the national plan on anti-trafficking carried out? How did the State ensure that the security forces were working effectively to address the prevalence of trafficking within the Golden Triangle Special Economic Zone?

The delegation said the Committee operated on reports from non-governmental organizations, which were often exaggerated. It was important to look at the reality in the country, rather than organizations that operated reports, which sometimes fit the category of disinformation. For example, regarding the cases of the so-called female human rights defenders, they were not human rights defenders. They had organised propaganda against the State and had violated criminal law, and were therefore prosecuted and imprisoned.

The delegation said a national commission on human trafficking had been established at the provincial, district and national levels. Focus was directed to the protection of victims. Trainings were conducted for law enforcement staff on how to identify victims of trafficking, how to refer their cases, and how to further protect them. The Women’s Union had expanded the shelter services to six provinces in the country. There was a police headquarters located within the Golden Triangle to prevent violations of human rights. Companies operating in this area were encouraged to ensure their staff received medical examinations.

Introducing the report, Chansoda Phonethip, Vice President of the Lao People’s Democratic Republic Women’s Union and Vice President of the National Commission for the Advancement of Women, Mothers and Children, and head of delegation, said the promotion and protection of women’s rights were at the core of the Government policy of the Lao People’s Democratic Republic. In 2019, the National Assembly adopted the law on gender equality, which introduced a wide range of measures to address gender disparities across various sectors. Under this law, gender-based discrimination was classified as a criminal offense. The Lao People’s Democratic Republic was dedicated to eliminating child marriage through strengthening legal and administrative frameworks, investing in education, and encouraging communities to collectively address the challenges posed by harmful practices such as early marriage and pregnancy.

In closing remarks, Ms. Phonethip thanked the Committee for the dialogue, which helped the Lao People’s Democratic Republic fulfil its obligations under the Convention. The Committee’s insights were instrumental to advancing the rights of women and girls in the country. The State welcomed any support from the international community to help in meeting its obligations under the Convention.

Esther Eghobamien-Mshelia, Committee Vice Chair, thanked the delegation for the constructive dialogue with the Committee, which helped it to better understand the situation of women and girls in the Lao People’s Democratic Republic.

The delegation of the Lao People’s Democratic Republic was comprised of representatives from the National Commission for the Advancement of Women, Mothers and Children; the Ministry of Foreign Affairs; the Lao Women’s Union; and the Permanent Mission of the Lao People’s Democratic Republic to the United Nations Office at Geneva.

The Committee on the Elimination of Discrimination against Women’s eighty-ninth session is being held from 7 October to 25 October. All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage. Meeting summary releases can be found here. The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

The Committee will next meet in public at 10 a.m. on Wednesday, 9 October to consider the fifth periodic report of Saudi Arabia (CEDAW/C/SAU/5).

Report

The Committee has before it the tenth periodic report of the Lao People’s Democratic Republic (CEDAW/C/LAO/10).

Presentation of Report

CHANSODA PHONETHIP, Vice President of the Lao People’s Democratic Republic Women’s Union and Vice President of the National Commission for the Advancement of Women, Mothers and Children, and head of delegation, said the promotion and protection of women’s rights were at the core of the Government policy of the Lao People’s Democratic Republic. All citizens, regardless of sex, had equal rights in political, economic, social and family life, in compliance with the principles and norms of the Convention. The Government had implemented supportive measures in response to the COVID-19 pandemic, which was a key challenge for the country. These included financial subsidies which particularly targeted unemployed individuals and women factory workers, with a total of 61,511 people benefitting from these initiatives. The Government also introduced two national agendas, one focusing on addressing economic and financial difficulties, and the other on combatting drug trafficking.

In 2019, the National Assembly adopted the law on gender equality, which introduced a wide range of measures to address gender disparities across various sectors. Under this law, gender-based discrimination was classified as a criminal offense. Over 50 laws had been revised and newly adopted over the past five years, including those aimed at improving women’s rights and ensuring gender equality. The Government had made great efforts to provide legal aid free of charge for disadvantaged people, as outlined in the law on lawyers, and the decree on legal aid. The Lao People’s Democratic Republic actively maintained three national mechanisms for promoting gender equality and empowering women. These included the Government, represented by the National Commission for the Advancement of Women, Mothers and Children; the mass organization, represented by the Lao People’s Democratic Republic Women’s Union; and the legislature, represented by the National Assembly’s Women’s Caucus.

The Government remained committed to reviewing and strengthening its legal frameworks to further enhance protection from violence, particularly through the law on the protection and development of women and the law on the protection of the rights and interests of children. The State had strengthened its national mechanisms for assisting women and girls who were victims of violence by adopting the “No Wrong Door” approach, ensuring that victims could access essential services, including healthcare, legal aid, and coordinated case management. Counselling and protection centres had also been extended to five provinces.

Awareness raising on gender-based violence was conducted and legal information and resources, such as handouts, posters and brochures on violence were widely distributed.

The Lao People’s Democratic Republic was dedicated to eliminating child marriage through strengthening legal and administrative frameworks, investing in education, and encouraging communities to collectively address the challenges posed by harmful practices such as early marriage and pregnancy. The Government undertook a national study on early marriage and pregnancy, which would guide the formulation of policies and action plans to effectively tackle these issues. The Government was also committed to protecting and supporting children affected by early marriage, ensuring their successful reintegration into society. The State was dedicated to preventing human trafficking, with a strong focus on vulnerable groups, particularly women in border regions and high-risk communities.

Despite advancements made, the representation of female members in the Ninth National Assembly did not meet the set target of 30 per cent. In response, the Government was actively undertaking a comprehensive review to identify the underlying factors contributing to this decline, particularly focusing on the various barriers that women faced in attaining high-ranking positions. The outcomes of this study would serve to address these challenges and promote the participation of women in the upcoming elections for the Tenth National Assembly in 2026. On the other hand, the number of female members of Provincial People’s Assemblies was higher than the set target. Most recently, three women were promoted to the rank of Brigadier General, a historical moment in the Lao People’s Democratic Republic army.

The Government was actively promoting healthier lifestyles by raising awareness about sanitation, nutrition, and comprehensive pre- and post-natal care for women. Recent data reflected a significant decrease in the maternal mortality rate, now at 36.6 per 100,000 live births. Ms. Phonethip said in 2026, the Lao People’s Democratic Republic would celebrate the forty-fifth anniversary of its ratification of the Convention. While significant achievements had been made in more than four decades, there were still challenges to overcome. It was hoped that the constructive dialogue with the Committee would produce meaningful outcomes.

Questions by Committee Experts

JIE XIA, Committee Expert and Country Rapporteur, thanked the State party for sending a high-level delegation. The Committee welcomed positive measures taken by the State party since 2018 to advance the status of women, promote gender equality, and eliminate discrimination against women. The Committee commended the Lao People’s Democratic Republic for elevating the issue of gender equality to the national level through domesticating the Convention, developing a law on gender equality, and developing a national action plan and strategy on gender equality, among other measures.

It was noted that the Criminal Code penalised discriminatory acts based on gender. Had there been any actions taken to directly penalise gender-based discrimination? How many cases had been brought under article 204? The Committee commended the Lao People’s Democratic Republic for domesticating the Convention; what measures had been taken to advance this process? Could the judiciary apply the relevant laws in its rulings? How many trainings had covered the Convention? Could up to date information be provided on efforts made to implement the law on gender equality and the third national strategy on gender equality? Did the State party encourage mediation through legal means? How was it ensured that people did not escape legal sanctions by taking advantage of mediation?

A Committee Expert said the State party had repeatedly declared it was not able to establish a human rights institution in line with the Paris Principles. What obstacles did the State party face in this regard? If a female leader wished to establish a federal liberal party for the upcoming elections, would this be allowed? If not, why not?

There were reports that the Government severely restricted non-governmental organizations. Women rights groups were confined to working through the Lao People’s Democratic Republic Women’s Union, which was a State body. The Penal Code was also used to prosecute activists and restrict freedom of assembly. The Committee had received several names of female human rights defenders who had been poorly treated by the Government and the judiciary? Could the State party outline recent efforts to review and amend any existing laws, regulations, or decrees that may unduly restrict freedom of expression to ensure that these legal frameworks complied with international human rights standards, including the Convention? What measures was the State taking to investigate the disappearance, maltreatment and deaths of female human rights activists? Was there a public site where detailed statistics related to sex and gender were published annually?

Another Expert commended the State party for its initiatives, including training programmes for women in leadership roles. However, the Committee was concerned that the State party had not instituted temporary special measures to improve specific situations for women and girls. What was the State party’s concerns regarding the use of temporary special measures? What steps had been taken to demonstrate the values of temporary special measures and to provide explanations to the general public on the failure to employ these measures? Would the State party consider the adoption of temporary special measures to fulfil the rights of disadvantaged women and ensure their participation in all areas of life? What steps was the State party taking to collaborate with stakeholders, including civil society, to implement temporary special measures?

Responses by the Delegation

The delegation said the Penal Code provided for the criminalisation of discrimination against women, and stated that anyone who discriminated against women due to gender would be punished, including by deprivation of liberty and fines. There had been no cases enacted in the courts so far. The Government paid attention to the functioning of the mediation unit. It was important to prioritise this mechanism to help avoid people going to the courts, which took time. Harmony and non-confrontation were important in the Lao People’s Democratic Republic. This was why the Government placed significant importance on the functioning of the village mediation unit. Anyone dissatisfied with the outcome of the mediation unit could escalate it to the courts.

The Lao People’s Democratic Republic was preparing for the fourth cycle of the Universal Periodic Review early next year, and was working hard in this regard. Several recommendations pertained to the Convention, which was a key focus of the Government. The State was also preparing for the forthcoming visit of the Special Rapporteur on cultural rights in November this year. Law dissemination campaigns were conducted to people in the provinces. The budget reflected the implementation of the law on gender equality.

The delegation said the Government recognised the importance of national human rights institutions. The Paris Principles had been studied carefully and research had been conducted on examples of such institutions in different countries. Workshops had been organised, including with Commissioners from India, Indonesia and Myanmar, to learn how their national human rights institutions worked. The State had different mechanisms in place and a new commission would involve increased resources. There were established human rights focal points in each sector and issues could be conveyed through them. Sometimes, taskforces were established to investigate particular human rights issues. The Lao People’s Democratic Republic was trying to strengthen the current mandates of what they had now. Only 118 Member States of the United Nations had established human rights commissions; in Asia, this number was only 15.

The Committee operated on reports from non-governmental organizations, which were often exaggerated. It was important to look at the reality in the country, rather than organizations that operated reports, which sometimes fit the category of disinformation. For example, regarding the cases of the so-called female human rights defenders, they were not human rights defenders. They had organised propaganda against the State and had violated criminal law, and were therefore prosecuted and imprisoned. They used the pretext of freedom of expression to violate the law. Freedom of expression had limits; it was not absolute.

The Lao People’s Democratic Republic planned to conduct an economic survey. From 2017, the State had made efforts to improve existing databases throughout the sectors. The Government had made efforts to mobilise women to take part in elections. Capacity training was provided to women. An action plan was in place to empower women to hold leadership positions in the commerce sector. Women were present in all branches of the economy.

Questions by Committee Experts

A Committee Expert was pleased to hear that the Lao People’s Democratic Republic was considering establishing a human rights institution; how long would this process take? How many cases related to gender-based discrimination were conducted in the State party before the courts in the last five years, and how did they end? It was sad to hear about the State’s general position regarding human rights defenders. However, it was pleasing to hear the Criminal Code was being reviewed to enhance freedom of expression; how long would this review process take?

Another Expert asked what were the concerns and challenges the State faced in regard to using temporary special measures to advance the rights of women in the country? Could these measures be used to reallocate resources to women?

Responses by the Delegation

The delegation said it was not practical for the State to provide a timeline on establishing a national human rights institution, as they were learning from other countries and strengthening existing mechanisms. In some cases, people misused and abused human rights treaties, using freedom of expression as a pretext. In the case of one woman in prison, she had used propaganda to distort information and criticise the Government. Every 10 years, the Government amended the Constitution and focused on articles which were relevant. Next year, the Government would organise a population Census which would be gender disaggregated. This would be used to prepare the next five-year development plan.

There were plans to increase the number of women in Government by 2026. A survey would be conducted to determine why there were decreasing numbers of female parliamentarians. Regarding temporary special measures, there were challenges in human and financial resources, as well as changing the mindsets of some people who still discriminated against women. There were few cases of gender discrimination in the courts due to the use of the peaceful mediation resolution, which prevented cases from going to the courts.

Questions by Committee Experts

A Committee Expert said the Lao People’s Democratic Republic had yet to promulgate a national action plan for women, peace and security, in accordance with the Committee’s recommendations. Would the State consider including the rise of artificial intelligence and its impact on women’s security in the plan? Would the impact of militarisation be addressed? What was being done to address harmful stereotypes of women and girls, particularly in rural areas? Would the law on domestic violence be revised to address cybercrime against women and scams against impoverished women? It was concerning that there was no specific law against spousal rape. Would affirmative consent be included as an essential component of rape? Economic turmoil had led to an increase in domestic violence and child marriage. How would economic policies take the most vulnerable into account? What steps had been taken to assess the impact of the economic crisis on women?

Another Expert commended the State’s efforts to address trafficking in persons, including through the enactment of the 2016 anti-trafficking law and the inclusion of article 215 in the 2018 Penal Code, which criminalised both sex and labour trafficking. The national plan on anti-trafficking in persons combatting and prevention phase III (2021-2025) and the establishment of the National Steering Committee on Anti-Human Trafficking were positive steps. However, the Lao People’s Democratic Republic continued to be a renowned source of origin for migrant workers as well as increasingly becoming a country of transit and destination for sexual exploitation and human trafficking. What were some of the key policies that the Committee had introduced and implemented in terms of effective anti-trafficking measures? How was the implementation of the national plan on anti-trafficking carried out?

Concerns persisted around the prevalence of trafficking within the Golden Triangle Special Economic Zone. Sources reported the sale and trafficking of girls as young as 13 and 14 to China increasingly happening unrestricted through flourishing internet trade. How did the State ensure that the security forces were working effectively to address such challenges? What specific actions were being taken to combat the impunity in the Special Economic Zone? How did the Government plan to strengthen the capacity of law enforcement and judiciary personnel to investigate, prosecute, and secure convictions in trafficking cases?

It was positively noted that under the national plan of action on anti-trafficking in persons, a temporary shelter for victims of trafficking in persons was established. Did the State party have any plans to strengthen survivor services and increase resources as well as expand the capacity of shelters, legal aid services, and vocational training programmes, particularly in provinces with higher trafficking risks and women and girls from rural and ethnic minority communities? Given that many trafficking cases involved border crossings, how was work done with cross-border countries to strengthen the approach against trafficking? Did the State’s COVID-19 response plan address the heightened risk of trafficking?

Responses by the Delegation

The delegation said that the Lao People’s Democratic Republic was translating the Association of Southeast Asian Nations’ women, peace and security plan and would disseminate this. The State’s national plan of action for 2026 to 2030 was being drafted, and women, peace and security would be integrated into this. Workshop seminars were organised to look at the traditional practice. To ensure gender equality, the Lao People’s Democratic Republic Women’s Union had made efforts to develop guidelines for domestic violence and promote the reproductive health of women. Projects had been piloted in six provinces in the country.

A national commission on human trafficking had been established at the provincial, district and national levels. Focus was directed to the protection of victims. The Government focused on preventing trafficking in persons, particularly for women working in factories and those living in remote villages. The Government also organised anti-human trafficking days in July each year, at the central and local levels. Trainings were conducted for law enforcement staff on how to identify victims of trafficking, how to refer their cases, and how to further protect them.

The Women’s Union had expanded the shelter services to six provinces in the country. After being rescued, victims were referred to the Union and were provided with shelter and mental and physical support, and they were then reintegrated back into society. Work was done with the Ministry of Justice to ensure victims could receive justice and the traffickers could be prosecuted. From June 2024, professional training had been provided for more than 600 people in the area of human trafficking. There was a police headquarters located within the Golden Triangle to prevent violations of human rights. Companies operating in this area were encouraged to ensure their staff received medical examinations. The Government of the Lao People’s Democratic Republic had developed a legal framework on human trafficking.

Rape was clarified within the Penal Code; however, the element of affirmative consent was not present. The State needed to explore this option and conduct studies in this regard. The Lao People’s Democratic Republic had made efforts to cooperate within the multilateral framework and on bilateral mechanisms with neighbouring countries.

In the Lao People’s Democratic Republic, more than 200,000 people had been infected by COVID-19. More than 60,000 had died of the virus. The country still faced the continuing impact of COVID-19, and was in the process of recovering. The country had been faced with economic and financial difficulties, as well as natural disasters and climate change. The Government had taken concrete measures to address this situation, including for women, to ensure no one was left behind.

Questions by Committee Experts

A Committee Expert commended the Lao People’s Democratic Republic for making equality a driver towards peace. The number of women in parliament had improved to 22 per cent, and there was a parliamentary commission, which was positive. However, parity meant 50/50; it needed to be seen as a relevant solution to poverty. In the absence of political pluralism, how could the electoral base be expanded to ensure women had access to political parties and leadership? How could it be ensured that there was a large-scale effort to ensure women had access to voting and being candidates? How could these developments be accelerated? What initiatives could be undertaken to ensure real parity for women in the life of the party and the central congress? What role could the Women’s Union play to train candidates and create momentum? What could be done to support civil society? What initiatives could be taken to help women participate in a more effective way? How was it ensured that ethnic minorities could participate in local development?

Another Expert underscored the importance of documentation as proof of nationality. The guide to birth registration and other measures were well noted. Was information on birth registration from provinces gathered on an annual basis? What had the percentage increase in registration been? What target had been reached as of today? What were the key challenges and what incentives were being considered for the still unregistered 30 per cent? Was disaggregated data on registrations available? What measures and incentives were taken to improve birth registration and encourage ethnic minority groups and rural women to register births? How was the documentation system used to track the State party’s migrant women population? Could stateless children or children born to immigrant women obtain the nationality of the Lao People’s Democratic Republic? How many had been granted nationality so far?

Responses by the Delegation

The delegation said female diplomats in the Lao People’s Democratic Republic played an impressive role in the country’s foreign affairs work. In 2024, out of 914 diplomats working in the Ministry, 322 were female diplomats, representing 32.5 per cent. Of 27 ambassador posts, five were women, which was equivalent to 19 per cent. Of three minister posts, one was a woman. When there were opportunities such as scholarships, the policy now stated these should be offered to female diplomats first. This month, the Lao People’s Democratic Republic Women’s Union had successfully completed hosting the Association of Southeast Asian Nations’ Women Entrepreneurs’ Conference 2024.

The Ministry of Home Affairs had carried out many activities to raise awareness of birth registration, including printing, publishing and distributing information. If a child was born to stateless parents who had fully integrated into the Lao People’s Democratic Republic culture, the child could obtain nationality on request. There were several conditions, including speaking the language and respecting the Constitution. These laws aimed to reduce statelessness. There were not many stateless people in the Lao People’s Democratic Republic.

Questions by Committee Experts

A Committee Expert said the Committee welcomed that the State party was making efforts to increase the enrolment of girls and women in education. However, there was a significant gender gap in non-traditional fields, including science, technology, engineering and mathematics. What concrete measures had been taken to ensure parents understood the importance of sending girls to schools? How was the effectiveness of gender-sensitive curricula ensured in order to change gender stereotypes from an early age? What were the specific measures to increase the access of girls to education?

What were the plans to provide necessary education in native languages? What steps were being taken to improve the infrastructure and resources in schools in remote areas? What steps were being taken to ensure quality access to education for all women and girls with disabilities? How would the State party sustain the school lunch programme in rural and remote areas? How was the issue of child marriage monitored and addressed? Parents needed to understand that education was important for girls; maybe training and awareness raising was needed for the parents.

Another Expert said that since the 1990s, the State party had made efforts to increase women’s participation in the labour market. Yet despite this, women’s participation had steadily declined since 2012. The gender pay gap in the capital showed that 52 per cent of women employed took home only 77 per cent of men’s average wages. What were the legislative measures for ensuring equal pay and equal and just working conditions? What was the State’s assessment of the sharp decrease in women’s participation in the labour market, and what was being done to combat this? How would these plans target women in vulnerable groups? What policies were in place to protect migrant women workers? What were the measures provided under the sexual harassment law?

A Committee Expert said the Lao People’s Democratic Republic had approved a decree to establish health insurance which was positive. One of the key issues recognised by the Government was HIV/AIDS. What were the main results of efforts taken to prevent HIV/AIDS? What steps had been taken to adopt HIV/AID legislation to expand access to services and combat discrimination? Could updated information on rural women be provided, including access to services? What was the main reason for the criminalisation of abortion? What were the main barriers which women and girls in poverty faced when accessing health services? What access did women in detention have to reproductive health services?

Responses by the Delegation

The delegation said a group of parents had been created in primary schools to enable them to understand the importance of education. Lunch boxes had been created for poor students and those who lived in rural areas, which had seen an increase in school enrolment. A new curriculum had been developed for the schools and teachers had been trained on this. Scholarships were provided to poor students and job training was provided to give students access to the labour market. The law on disability aimed to protect the rights of those with disabilities. Within this law, children with disabilities could access educational facilities, the same as anyone else. Special equipment was provided to help these children receive an education. The Lao People’s Democratic Republic provided tools for developing skills in the labour market.

The delegation said a national action plan had been implemented to combat HIV/AIDS and sexually transmitted diseases. In addition to reducing the stigma, the 161 HIV/AIDS centres provided counselling services, with 11 centres providing treatment. Testing kits for HIV detection were distributed within the communities. Poor women could give birth in public hospitals free of charge. In each detention centre, there were medical staff on hand to provide healthcare to detainees. Other statistics would be provided in writing.

Questions by Committee Experts

A Committee Expert commended the State party’s efforts to expand social protection coverage. Despite institutional efforts, feminised poverty persisted, and women continued to face great difficulties in gaining access to economic, social and cultural activities. Could comprehensive data be provided on how women had benefitted from the small and medium enterprise law? What targeted policies and measures existed to increase access to finances for women? What gender-specific outcomes existed to demonstrate effectiveness and uptake in the banking sector?

What steps were being taken to adopt specific legislation on women’s rights to land? How could women’s roles at village and community levels be increased? Could updated information be provided on measures taken to allow women in the informal sector to access benefits? What was the impact of national and international cooperation programmes? What plans existed to develop opportunities for women in sports? How strong was the country’s economic, social and cultural framework on gender commitment?

Another Expert noted the different actions taken by the Lao People’s Democratic Republic to integrate gender equality into different sectors, including in agriculture and fisheries, to benefit rural women and other marginalised groups. However, there were clear gender gaps in the implementation of Government policies. What concrete actions would the State party consider taking to ensure the effective implementation of Government initiatives to benefit vulnerable women? How was gender-responsive climate financing integrated in the national budget? What concrete steps had been taken to increase rural and other vulnerable women’s access to quality social services?

The Committee had received reports of indigenous people evicted from their ancestral land. What steps was the Lao People’s Democratic Republic taking to preserve ancestral land and mitigate the gendered impact of the climate crisis? What concrete steps were being taken to protect the Hmong people from forceful evictions from their land? What concrete steps were being taken to provide compensation to women evicted from their land?

A Committee Expert said the Constitution of the Lao People’s Democratic Republic called for the independence of the judiciary. How was the Supreme Court trained on the rule of law and the independence of the judiciary? Did women human rights defenders have access to free legal counsel? How were the village chiefs who were trained to implement the laws monitored? It was understood that customary laws were part of a traditional system, but these might be outdated in 2024 and could create a stigma for women. Women were often abandoned with their children in a time of profound economic crisis. Would the State consider social security and childcare arrangements?

Responses by the Delegation

The delegation said a law existed in the Lao People’s Democratic Republic which defined the right for individual or legal entities to use land, without any discrimination on the grounds of gender. These were part of the efforts to promote women’s access to land. The Lao People’s Democratic Republic was in the process of transforming the economy to make it digitalised. The State had joined the international community in the Global Digital Compact. Social protection efforts gave women in vulnerable situations top priority. Women were covered as a target group under the Government policy under the Sustainable Development Goals. The issue of land was very important as many women were engaged in agriculture. For this reason, the Government aimed to ensure women had access to land. The Government had a legislative framework on the law of land.

Within the legal system of the Lao People’s Democratic Republic, a foreigner could not own land, but had the right to use the land. The country prioritised the need for foreign investors to protect the environment. Foreign entities did not own 50 per cent of land in the Lao People’s Democratic Republic.

A committee had been appointed to implement the climate action plan. Human resources were allocated to implement this plan. Trainings on national disasters were provided in the provinces. The national disaster preparedness plan had been piloted. Gender equality was mainstreamed across policies in all sectors. A vaccination campaign was conducted to help prevent communicable disease. Guidelines were developed to help increase the quality of health coverage.

The Lao People’s Democratic Republic Women’s Union was in the process of revising the law on the protection of women. Specific rights had been added, including for the labour market. The Government issued a decree on lifelong learning in 2020 to develop a policy for rural women and girls to have access to education.

Agriculture was the basis of the economy of the Lao People’s Democratic Republic. A group of female farmers had been established which provided benefits, including generating income for their families. Currently, the Lao People’s Democratic Republic did not have a specific law on anti-discrimination. However, the Government had adopted the law on gender equality. Civil and criminal proceedings were required to be conducted on the basis that all civilians were equal before the law.

Campaigns were organised around land ownership to ensure all women understood their rights when it came to inheriting land, as well as the importance of putting their name on the land title. The Lao People’s Democratic Republic categorically rejected the allegations of forced evictions. Before being relocated, people were extensively consulted.

Closing Remarks

CHANSODA PHONETHIP, Vice President of the Lao People’s Democratic Republic Women’s Union and Vice President of the National Commission for the Advancement of Women, Mothers and Children and head of delegation, thanked the Committee for the dialogue, which helped the Lao People’s Democratic Republic fulfil its obligations under the Convention. The Committee’s insights were instrumental to advancing the rights of women and girls in the country. The Lao People’s Democratic Republic would address the challenges highlighted by the Committee. The State welcomed any support from the international community to help in meeting its obligations under the Convention.

ESTHER EGHOBAMIEN-MSHELIA, Committee Vice Chair, thanked the delegation for the constructive dialogue with the Committee, which helped it to better understand the situation of women and girls in the Lao People’s Democratic Republic.

Produced by the United Nations Information Service in Geneva for use of the media;
not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

CEDAW24.024E

MIL OSI United Nations News –

January 23, 2025
MIL-OSI Asia-Pac: Lights, Camera, Awards!
Source: Government of India

Lights, Camera, Awards!

President of India Smt. Droupadi Murmu confers 70th National Film Awards

Mithun Chakraborty receives Dada Saheb Phalke Award for his Lifetime achievement in Indian cinema

President Draupadi Murmu says the films & social media are the most powerful medium to change society

Government to set up India’s first Indian Institute of Creative Technology in Mumbai soon

Government’s vision is to develop the film industry around three key pillars; To develop talent pool, Infrastructure & simplification of process involved in filmmaking: Sh. Ashwini Vaishnaw

Posted On: 08 OCT 2024 9:27PM by PIB Delhi

“Never allow your dreams to sleep, even if you are asleep”. These are the golden words of film legend Mithun Da to young awardees who received the 70th National Film Award in various categories in the national capital. The entire auditorium of Vigyan Bhawan rose to their feet in a standing ovation when President of India Smt. Droupadi Murmu honoured Mithun Chakraborty with the Dada Saheb Phalke award for his outstanding contribution to Indian cinema. Addressing the gathering, Mithun Da, shared the experiences of his struggle in the film industry. He recalled the discrimination he faced due to his dusky complexion and shared his dancing success mantra with the awardees and audience present in the auditorium. His message to the aspiring young talent artists was to identify their talent while chasing their dreams.

At the 70th National Film Awards ceremony, President of India Smt. Draupadi Murmu said that the films & social media are the most powerful medium to change society. She also praised the Ministry of Information and Broadcasting for giving a level playing platform through these awards to the budding talents where they can come at the same platform along with the big names and production houses in the country.

The Award ceremony saw the participation of award winners such as Manoj Vajpayee, Vishal Bhardwaj, Neena Gupta, Karan Johar, Rishabh Shetty etc. Other personalities from Indian cinema such as Sharmila Tagore, Prasoon Joshi, etc were also present. Esteemed personalities such as A.R. Rahman and Mani Ratnam were among the awardees who received the prestigious National Film Award for the seventh time, a testament to their enduring brilliance and influence on the industry. Their achievements continue to inspire both aspiring and established artists in the ever-evolving landscape of Indian cinema.

Union Minister for Information & Broadcasting (I&B), Railways and Electronics and Information Technology, Shri Ashwini Vaishnaw, Union Minister of State for I&B Dr. L. Murugan, Sh. Sanjay Jaju, Secretary, Ministry of I&B, Shri Rahul Rawail, Sh. Nila Madhab Panda, & Shri Gangadhar Mudaliar as Jury were also present at the event.

Sh. Ashwini Vaishnaw warmly welcomed all the attendees, expressing his honor to be part of this prestigious event, which celebrates the brilliance of filmmakers, actors, technicians, and all stakeholders involved in the art of cinema. He also paid tribute to legendary actor Mithun Chakraborty, who was honored with the prestigious Dadasaheb Phalke Award for his extraordinary contributions to Indian cinema and society. “Mithunda, your life is your message. You are an icon for our society, both on and off the screen,” he said, acknowledging the veteran actor’s exemplary career and public service.

Shri Vaishnaw highlighted the remarkable achievements of nine debut directors, applauding their bold storytelling, and celebrated the role of young innovators, whether in the film industry or startups, in driving the creative economy.

Indian Institute of Creative Technology (IICT)

To further support the growth of creative industries, Sh. Vaishnaw announced a landmark initiative – the establishment of the first Indian Institute of Creative Technology (IICT) in Mumbai. Modeled after prestigious institutions like the IITs and IIMs, which have produced some of the world’s finest technical and managerial talent (some of them leading the big giants like Google, Microsoft, etc), the IICT will focus on developing creative skills and knowledge. This new institution will serve as a hub for innovation, creativity, and talent development, ensuring India stays at the forefront of the global creative economy.

He also outlined the government’s vision to develop the film industry with three key pillars:

1. Development of Talent Pipeline: Recognizing the increasing role of technology in filmmaking, he emphasized the need for a strong talent pipeline. Drawing parallels with India’s success in IT and semiconductor sectors, he highlighted the importance of nurturing talent in creative technologies, with IICTs playing a pivotal role.

2. Infrastructure Development: Shri Vaishnaw stressed the need for world-class infrastructure to support the evolving needs of the film industry. He invited industry leaders to contribute ideas for creating a foundation that will propel Indian cinema to global standards.

3. Simplification of Processes: The Minister discussed simplifying permissions for filmmakers, making it easier for them to use diverse locations, such as railways, forests, and archaeological sites, in their projects. Streamlining these processes will encourage creativity and reduce bureaucratic hurdles.

Shri Vaishnaw also emphasized the importance of preserving India’s rich film heritage, from classic films to posters and newspaper clippings. He shared that decisions have been made to safeguard these invaluable treasures for future generations.

On this occasion, Secretary Shri Sanjay Jaju, also mentioned that 309 films in 32 different languages were received in Feature Films category and 128 films in 17 languages in Non-Feature Films category of 70th National Film Awards, thereby signifying the richness of our cultural landscape and inclusivity of our story telling. Recognising the resilience of Film industry in the background of global pandemic, he praised the film makers for captivating the audience through their art of storytelling.

Highlights from the 70th National Film Awards

This year’s National Film Awards continue the tradition of recognizing excellence across a diverse array of films and talent. The awards for 2022 feature several standout winners:
- Best Feature Film: “Aattam (The Play)”, a Malayalam film directed by Anand Ekarshi, has won this prestigious award for its artistic brilliance.
- Best Non-Feature Film: “Ayena (Mirror)”, directed by Siddhant Sarin, takes home this honor
- Best Actor in a Leading Role: Rishab Shetty wins the award for his captivating performance in “Kantara” (Kannada)
- Best Actress in a Leading Role: The Best Actress award will be shared by Nithya Menen for her portrayal in “Thiruchitrambalam” (Tamil) and Manasi Parekh for “Kutch Express” (Gujarati).
- Best Direction: Sooraj R. Barjatya wins for his work in the Hindi film “Uunchai”
Some of the other award winners include “Brahmastra – Part 1: Shiva” in the Best Film in AVGC (Animation, Visual Effects, Gaming & Comic) category, “Kantara” for Best Popular Film Providing Wholesome Entertainment, and “Kishore Kumar: The Ultimate Biography” for Best Book on Cinema.

Full list of awards can be found at the link below:

https://pib.gov.in/PressReleasePage.aspx?PRID=2045960

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Dharmendra Tewari/Kshitij Singha

(Release ID: 2063321) Visitor Counter : 24

MIL OSI Asia Pacific News –
January 23, 2025
MIL-OSI Australia: Pressure builds on schools and teachers
Source: Australian Education Union

08 October 2024

In short
- Principals and teachers say a lack of resources and funding mean the needs of students with disability at their school are not being met.
- The increasing incidence of disability, combined with a teacher shortage and insufficient funding, creates a perfect storm.
In my first year teaching in a public primary school, I had two students with disability in my class. The second year, just one. Even though I was fresh out of university, it was manageable. I had the time to make sure they felt part of the class, and the work was adjusted to meet their needs.

We applied for and got additional funding to pay for a teacher’s aide. If one of the children needed a break from the classroom, they could take it. If they needed help with their work, they got it.

A decade later it couldn’t be more different. At the public school I work at now there are up to eight students with a diagnosed or undiagnosed disability in every class. We have a lot of students with autism, ADHD and mental health issues, which have increased noticeably since the onset of the COVID pandemic.

When you consider our school serves a multicultural community with high levels of disadvantage, you can imagine how diverse and complex our classrooms are.

Every child with disability is unique. It is wonderful, it is eye-opening, and it is a good experience, but it also means they need something different to cater for their needs.

Declining support

Our biggest issue is that, as the number of students with disability has exponentially increased, the
available support has declined.

If we are lucky, we have a counsellor in the school three days a fortnight. All they do is assessments to determine disability and needs. Our children with mental health issues, particularly trauma, need face-to-face counselling sessions but we just don’t have the capacity.

Because we have so many students who aren’t at the level of learning that they should be, the assessments take priority. We have to make sure we are supporting them based on a diagnosis that is accurate, not just by guessing.

Finding a place in a support class for students with disability is nearly impossible. At the last count in my area, the number of approved applications was 10 times higher than the number of vacant positions.

Many students with disability don’t attract individualised funding, and there is such a large percentage of students who need additional support but there isn’t enough funding to go around.

We did have a specialist teacher with expertise in teaching students with disability, who provided advice and support, but she retired and has not been replaced.

Teachers teaching in the support units within mainstream schools who have additional university qualifications, and therefore more knowledge on teaching students with disability, seem to be fewer than they once were.

Not enough teachers

Because of the teacher shortages, we had 10 vacant positions at the start of the year. That means every teacher has to be in class and we can’t run programs such as English as an additional language or dialect, even though more than 95 per cent of students are from
a non-English speaking background.

Teachers do the best they can, but without the right support it is exhausting doing all your programming and planning, all the assessing for the students in your class, along with individualising learning programs and making adjustments to cater for different students’ needs – whether it be learning, behaviour or social skills.

You also have to be so conscious of the classroom dynamic. That can shift when one student walks into a class. Relationships can be disrupted and children can trigger one another. It becomes like putting out spot fires at times because one child who may be on the autism spectrum and has sensory needs might be triggered by another student who has externalising behaviours from mental health. That might upset a child with ADHD who has been sitting too long because you are trying to manage the other two children who are annoyed with one another.

Fortunately, at our school we fund an extra class in each year to reduce the class sizes. If there were 30 or 31 kids in the class, it would be utter chaos.

We have a high number of early career teachers and you can just imagine how challenging it is for them. But even those who have been teaching for more than 25 years say every year is the hardest year they have ever had because of the increasing number of children with really complex needs.

As public school teachers we join the profession to make a difference. We set really high standards for ourselves because we are educating the next generation and we don’t want to let kids down. But right now, we are being let down by a lack of resources and so are our students.

This article was originally published in the Australian Educator, Spring 2024

MIL OSI News –
January 23, 2025
MIL-OSI United Kingdom: expert reaction to study on MRI scans and brain damage/long-lasting Covid-19 symptoms

Source: United Kingdom – Executive Government & Departments

October 8, 2024

A study published in Brain looks at MRI scans and brain damage associated with long lasting Covid-19 symptoms.

Prof Paul Mullins, Professor in Neuroimaging, University of Bangor, said:

Does the press release accurately reflect the science?

“The press release is a fairly good reflection of the science, although it does over sell the ability of the data to explain long COVID.

Is this good quality research? Are the conclusions backed up by solid data?

“This is a piece of research using sophisticated imaging techniques to provide data not available from clinical imaging scanners. The imaging is good and shows that there are differences in the brain stem of patients who were hospitalised with COVID-19, with greater changes in patients with more severe COVID.

How does this work fit with the existing evidence?

“This fits with some earlier work showing a change in the specific measure, QSM, from this group, and also other work showing long term changes on such sophisticated brain scanning. This finding adds to our knowledge about which regions of the brain COVID impacts, showing change in those regions involved in respiration and other autonomic functions.

Have the authors accounted for confounders? Are there important limitations to be aware of?

“The authors have attempted to account for most confounders, however, there is some limitation with the small number of patients scanned, and the use of a single time point. This is understandable considering that the study took place during the first waves of the pandemic with associated lockdowns and complications.

What are the implications in the real world? Is there any overspeculation?

“This data shows that there may be an increase in iron deposition within the brain stem regions – which likely reflects inflammation – however the technique is not able to determine if this is ongoing inflammation, or the result of past inflammations, so it is likely too early for the authors to conclude that persistent inflammation is present in the brain stem, and that this is the cause of long covid, from this data set alone.

Does this study conclusively prove what causes long COVID?

“While this study does not conclusively prove the causes of long COVID, it does point a finger at one possible suspect for some of the symptoms experienced.

What does this tell us about how long COVID should be treated now and in the future?

“It is not clear that this shows much in the way of possible treatments for long COVID once it has occurred, but it perhaps does point to the need to reduce inflammatory responses during initial COVID infection and response, as lower inflammation was related to smaller changes in the QSM measure used.”

‘7-Tesla quantitative susceptibility mapping in COVID-19: brainstem effects and outcome associations.’ by Catarina Rua et al. was published in Brain at 0:01 UK time on Tuesday 08 October 2024.

DOI: 10.1093/brain/awae215

Declared interests

Prof Paul Mullins “is a professor in neuroimaging at Bangor University and the Director of the Masters in Neuroimaging degree at Bangor University, has received European funding for the use of Neuroimaging in ageing and dementia studies in the past, and has received UKRI funding for research into the use of nutraceuticals for brain health. Professor Mullins researches brain metabolism and physiology, and the brain’s response to environmental stresses, including hypoxia as might be experienced during server acute COVID-19 infections.”

MIL OSI United Kingdom –

January 23, 2025
MIL-OSI Australia: $15 million program bringing international visitors back to Tropical North Queensland

Source: Minister for Trade

A resurgence in international visitors to Tropical North Queensland is being supported by a $15 million Australian Government program.

The International Tourism Recovery Program has delivered 28 campaigns so far, generating bookings in the last financial year for 20,000 Chinese visitors, who it is estimated will inject $37 million into the local economy.

The second year of the $15 million program, rolling out from 1 July 2024, is expected to create even stronger demand for the world-class tourism experiences in the sunshine state’s tropical north, including the Great Barrier Reef.

The return of Cathay Pacific flights between Hong Kong and Cairns from December through to March is projected to bring in up to 13,000 additional international visitors, who are projected to collectively spend an estimated $20 million in the region.

China was the region’s largest international market before the pandemic, accounting for one in four international visitors and injecting more than $200 million a year into the regional economy.

Tropical North Queensland is one of Australia’s tourism regions that is most economically dependent on international visitation.

The International Tourism Recovery Grant Program is providing Tourism Tropical North Queensland (TTNQ) with grants worth up to a total of $15 million over three years, helping to bring more international visitors to Tropical North Queensland.

Quotes attributable to Senator Don Farrell, Minister for Trade and Tourism:

“Queensland’s tropical north is a spectacular place that has always been a personal favourite, a sentiment I share with many Australians and people from around the world.

“We understand how important international visitors are for tourism in the region and, having spoken with many local business operators, I know the challenges they’ve been facing.

“I am pleased that the Albanese Labor Government’s support is bringing back more Chinese visitors to this remarkable part of our country where they can dive into the underwater wonders of the Great Barrier Reef or be guided by local First Nations peoples on a Dreamtime walk through one of the world’s oldest rainforests.”

Quotes attributable to Special Envoy for the Great Barrier Reef, Senator Nita Green:

“The Great Barrier Reef brings tourists from all across the world to Cairns and Far North Queensland.

“Tourism is the lifeblood of our region, and welcoming international guests is vital to the success of our communities.

“I am so proud that our Government’s investment in TTNQ is supporting the return of Chinese visitors to this incredible part of the country.”

Quotes attributable to Mark Olsen, CEO – Tourism Tropical North Queensland:

“The support from the International Tourism Recovery Program has given the region a boost when it needed it most, as our international numbers have been slower to recover than the capital cities.

“China was our region’s single biggest international market in 2019, one in three Chinese visitors to Queensland came to see Cairns and the Great Barrier Reef. Rebuilding demand from China is vital with Cathay Pacific returning in December.

“The 28 trade campaigns have been supported by a coordinated approach, with a publicity push generating over $16.5 million. Roadshows are bringing our operators back into China as a region – bringing back key trade partners to experience Tropical North Queensland and all the great experiences here first-hand.”

MIL OSI News –

January 23, 2025
MIL-OSI New Zealand: Lebanon struggles to cope as over a million people flee Israel’s military invasion
Source: Oxfam Aotearoa
The Lebanese authorities, communities and humanitarian agencies are struggling to shelter and provide the necessities of life to over one million people fleeing Israel’s airstrikes and invasion to the south, Oxfam said today.

Oxfam is working with local partners in Lebanon and alongside other aid agencies as part of the government’s humanitarian response plan following Israel’s invasion of Southern Lebanon and aerial bombardment.

Oxfam assessments in shelters across Lebanon have found people most need mattresses, bedding, and cooking and sanitation items. Women also need sanitary pads, towels, and underwear. Oxfam and partners have started distributing some of this aid as well as water.

Gheith Bittar, Executive Director for Oxfam partner SHIFT – Social Innovation Hub, said more displaced people are arriving by the day and he fears shelters may buckle under the strain.

“The shelters are not ready to host the number of IDPs we are taking on and 629 are already full. They are public schools that are not equipped to be shelters and we are facing problems. For example, we don’t have hot water for showers. We will get to a point where we won’t be able to cope. Without funds, we cannot sustain our support to the shelters. The ground invasion will only increase the number of IDPs, and we have already seen an increase in the number of displaced people on a daily basis with the continuous bombardment. The situation will only get worse as winter approaches.

“People are coming to us traumatised. Most of them have lost their houses and relatives. Some of them were scared because of the scale of bombardment as they were fleeing, and many others because of their fear of the unknown coming to a new city. People are suffering, they have many, many, issues to think about,”

Oxfam says without a ceasefire the greenlight by Israel to a ground invasion in southern Lebanon will likely lead to a further escalation of the conflict and fighting, that will cause even more destruction of communities and inflame an already volatile region.

“The ground invasion and bombardment that includes Beirut and the southern suburbs will create a serious challenge for the humanitarian system in a few short days. People are being forced to flee with little to no notice, and often having to leave everything behind to shelters that are inadequate or sharing crowded homes with few essential supplies. None know when they can return. Without a ceasefire the number of people desperately in need will only grow, as will their needs. The shelter system is set to collapse if there is no peace on the horizon,” said Oxfam’s Lebanon Country Director, Bachir Ayoub.

“The needs of people in Lebanon who’ve been injured, traumatised and displaced, in fear of what the future might hold for them, are already huge. No other solution other than a ceasefire can alleviate the crisis they are facing,” Ayoub said.

There must be an end to this violence. All parties must stop fighting. We need safe space to get people the aid they need,” he said.
Oxfam has worked in Lebanon since 1993, in partnership with local organisations, to support disadvantaged people with cash, clean water, and proper sanitation, as well as income-generating opportunities, advocating for women’s rights and reproductive health services, and renewable energy solutions.

We also work with Syrian and Palestinian refugees, as well as Lebanese communities, including people with disabilities and migrant workers.

We work with 30 local partner organisations in North Lebanon, the Bekaa Valley, and Beirut who deeply understand the needs of the communities they are part of.

Over the past decade, we have responded to the multiple crises Lebanon has faced, including the Syria crisis, the COVID-19 pandemic, the Beirut Blast, the Economic crisis, the 2022 cholera outbreak, and violent conflicts.
MIL OSI New Zealand News –
January 23, 2025

Category: Pandemic

Why own e-bikes or e-scooters when you can share?

But does this mean people will ride more?

What kinds of incentives do other countries offer?

What more can be done?

Why measure life expectancy?

What we did

What we found

What this means

Population growth outpacing transit

Tech platforms and mobility

Climate crisis intensifying challenges

Building a better future

Population growth outpacing transit

Tech platforms and mobility

Climate crisis intensifying challenges

Building a better future

What was the TFF intended to do?

How did it work?

Did the TFF achieve its aims?

How much did the TFF cost?

Some lessons for the future

Degree of support for the economy versus flexibility

Indirect effects

Open lines of communication between the RBA, other government agencies and industry

Importance of contingency planning, risk mangement and governance

Summing up

What’s next?

Share this page

Updates to this page

Introduction

Central vision

Fringe vision

Rising geopolitical tensions

Peripheral vision

Reconfiguration of the financial value chain

Liquidity risk supervision post-March 2023

Growth of non-bank financial institutions

Conclusion

A ‘sonic-literary journey’

The end of the unicorn?

Migration and the march from purple to red

The one question mark of 2024

Britain’s problem

Commonwealth heads of government meeting

What Britain needs to do

Britain’s problem

Commonwealth heads of government meeting

What Britain needs to do

What went wrong?

What needs to change?

A deep reverence for the king

Serving the people

The Australian dream

Lights, Camera, Awards!President of India Smt. Droupadi Murmu confers 70th National Film Awards

October 8, 2024

Source: Oxfam Aotearoa

Lights, Camera, Awards!

President of India Smt. Droupadi Murmu confers 70th National Film Awards