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Category: Pandemic

  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Spain

    Source: IMF – News in Russian

    June 6, 2025

    • The Spanish economy has been performing strongly, supported by services exports and labor force growth. Growth is expected to remain significantly above the euro area average in the near term, before slowing gradually as its recent drivers normalize and demographic aging intensifies. Most risks are to the downside, including from a further escalation of trade measures and domestic political fragmentation.
    • The authorities should seize the growth momentum to more swiftly rebuild fiscal space and reduce sovereign debt risks through a clearer consolidation strategy grounded in well-identified tax increase and spending reduction priorities. Additional measures should also be taken to address fiscal pressures from rising future pension expenditures, and to improve the pension system’s safeguard clause.
    • Raising productivity is key to boosting income per capita gains, which have been modest since the pandemic. This should be achieved through a new wave of reforms to facilitate firms’ scaling-up and strengthen innovation.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Spain.[1] The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    With a growth rate of 3.2 percent in 2024, Spain has been one of the fastest-growing economies in the euro area. Growth has been fueled by robust services exports and labor force growth, including due to immigration. Because high GDP growth has been accompanied by high employment growth, GDP per capita gains have been more modest. Despite recent progress, Spain still has one of the lowest employment rates in Europe, and a persistent gap in (hourly labor) productivity vis-à-vis the euro area and—even more so—the US.

    Growth is projected to reach 2.5 percent in 2025 before slowing to 1.8 percent in 2026 as export and working-age population gains normalize. Growth will be primarily supported by private domestic demand, including due to a decline in the household saving rate and a pickup in investment. Inflation is projected to decline further and return close to the ECB’s target by end-2025.

    Executive Board Assessment[3]

    The Spanish economy has continued to outperform the euro area but per-capita income gains have been more modest. Two major drivers of Spain’s strong growth have been, on the supply side, labor force growth, and on the demand side, services exports. Labor force growth has particularly benefitted from recent migration inflows, which have risen sharply above pre-pandemic levels. Services exports have been fueled by the strong post-COVID recovery in tourism, but also by improvements in the performance of Spanish exporters in non-tourism services. Amid strong exports and still subdued imports, the external position in 2024 is preliminarily assessed to be stronger than implied by medium-term fundamentals and desirable policies. Because high GDP growth has been accompanied by high employment growth, GDP per capita gains have been more modest. Still, Spain reduced its per-capita income gap vis-à-vis the highest-income euro area economies by over 3 percentage points during 2022-24, helped by an acceleration in productivity growth. Despite recent progress in reducing the unemployment rate, it remains the highest in the euro area at about 11 percent. Looking through recent volatility, disinflation has continued to proceed steadily.

    Growth is projected to remain robust in the near term and to slow gradually thereafter as its recent drivers normalize, with risks predominantly to the downside. Growth should remain strong at 2.5 percent in 2025 before declining to about 1.8 percent next year, close to its medium-term potential. On the demand side, tourism is expected to expand at a slower rate, while a weaker global environment—including elevated trade policy uncertainty and US tariffs—will also weigh on external demand. This drag is expected to be partly offset by robust domestic demand, including a pick-up in investment. On the supply side, a gradual slowdown in net migration and demographic aging will slowly weigh on labor force gains. Key downside risks include an escalation of trade measures, particularly those involving the EU, and domestic political fragmentation, which could hamper the response of fiscal policy in the event Spain’s deficit reduction fell short of its commitments or market concerns about sovereign risks were to emerge.

    The authorities should seize upon the strong growth momentum to more swiftly rebuild fiscal space and reduce sovereign debt risks, in the context of an enhanced medium-term fiscal plan. Staff projects that, in the absence of further consolidation measures besides social security contribution increases from the 2021-2023 pension reforms and the non-indexation of PIT brackets (about 1 percent of GDP overall over 2025-29), the deficit would stabilize above 2 percent of GDP by 2030, while the debt-to-GDP ratio would remain above 90 percent before rising again in the longer term as fiscal pressures from aging intensify. Weighing fiscal risks on the one hand, and the economy’s strong cyclical position on the other, staff recommends frontloading the authorities’ planned 3 percent of GDP adjustment over 2025-2029 rather than 2025-2031. This effort, which would require about 2 percentage points of GDP in new measures, should be underpinned by an enhanced medium-term fiscal plan that lays out well-identified tax increase and spending reduction priorities. Harmonizing VAT and enhancing environmental taxation would deliver the recommended effort while reducing economic distortions. Given the widening projected gap between pension expenditures and social security contributions over the coming decades, pension reforms should also be undertaken, prioritizing employment-friendly options. Should downside risks materialize, fiscal policy should remain flexible, letting automatic stabilizers play out. Temporary discretionary support should be considered only in the event of a severe shock and provided sovereign funding costs remain low.

    Systemic risks in the financial system remain low but ongoing efforts to further bolster its resilience should be maintained. Banks are well-capitalized, liquid, and profitable, though capital ratios are still somewhat below euro area peers. Household and corporate balance sheets are sound, supported by low debt and rising incomes. The rapid growth in house prices has eroded affordability and should be primarily addressed through measures that stimulate housing supply. While it does currently not raise financial stability risks, pre-emptive borrower-based measures should be considered if there were early signs of an easing in lending standards. Staff supports the ongoing phasing-in of the one-percent positive neutral CCyB and encourages continued implementation of other 2024 FSAP recommendations to further enhance resilience.

    Fostering income-per-capita convergence toward higher-income advanced economies requires further raising the employment rate and boosting productivity. Despite recent progress, Spain still has one of the lowest employment rates in Europe, and its (hourly labor) productivity gap vis-à-vis the euro area—which has itself been falling behind the US—remains about as wide as it was 25 years ago. Enhancing activation policies and financial incentives for jobseekers is key to durably reducing unemployment to single digits. The planned reduction of the working week in the private sector should be carefully designed to mitigate adverse effects on output and workers’ incomes, with a major role for collective bargaining including in setting the level and remuneration of overtime. Closing the productivity gap will require reforms that facilitate firms’ scaling-up and innovation. These include completing both the Spanish and EU single markets for goods and services, streamlining firm size-related tax and regulatory thresholds, boosting venture capital through progress toward the CMU complemented by domestic incentives, and promoting excellence in higher education—including through greater autonomy and performance-based funding of universities.

    Spain: Selected Economic Indicators

    (Annual percentage change, unless noted otherwise)

    Projections 1/

    2022

    2023

    2024

    2025

    2026

    2027

    Demand and supply in constant prices

    Gross domestic product

    6.2

    2.7

    3.2

    2.5

    1.8

    1.7

    Private consumption

    4.8

    1.8

    2.9

    2.1

    2.0

    1.9

    Public consumption

    0.6

    5.2

    4.1

    3.5

    1.7

    1.9

    Gross fixed investment

    3.3

    2.1

    3.0

    5.0

    2.1

    1.2

    Total domestic demand

    3.9

    1.7

    2.9

    2.9

    2.0

    1.8

    Net exports (contribution to growth)

    2.5

    1.2

    0.4

    -0.2

    -0.1

    0.0

    Exports of goods and services

    15.0

    3.3

    3.4

    2.2

    2.5

    3.1

    Imports of goods and services

    7.8

    0.4

    2.6

    3.0

    3.2

    3.4

    Potential output 

    2.1

    2.7

    2.6

    2.6

    2.3

    2.1

    Output gap (percent of potential)

    1.1

    1.1

    1.6

    1.6

    1.1

    0.7

    Prices

    GDP deflator

    4.7

    6.2

    3.0

    2.4

    2.4

    2.4

    Headline Inflation (average)

    8.3

    3.4

    2.9

    2.2

    2.0

    2.1

    Headline Inflation (end of period)

    5.5

    3.3

    2.8

    1.9

    1.9

    2.1

    Core inflation (average)

    5.2

    5.8

    3.0

    1.9

    2.0

    2.0

    Core inflation (end of period)

    6.7

    4.0

    2.6

    1.8

    2.0

    2.0

    Employment and wages

    Unemployment rate (percent of total labor force)

    13.0

    12.2

    11.3

    11.1

    11.0

    11.0

    Labor costs, private sector

    2.6

    5.6

    4.7

    3.5

    3.4

    3.4

    Employment

    3.6

    3.1

    2.2

    1.3

    0.9

    0.7

    Balance of payments (percent of GDP)

    Current account balance

    0.4

    2.7

    3.0

    2.5

    2.4

    2.2

    Net international investment position

    -57.7

    -51.3

    -44.0

    -38.5

    -33.5

    -29.7

    Public finance (percent of GDP)

    General government balance

    -4.6

    -3.5

    -3.2

    -2.8

    -2.4

    -2.3

    Primary balance

    -2.5

    -1.7

    -1.3

    -0.6

    0.1

    0.1

    Structural balance

    -5.3

    -4.1

    -3.1

    -3.2

    -2.8

    -2.7

    General government debt

    109.4

    105.0

    101.8

    100.7

    99.1

    97.7
           

    Sources: IMF, World Economic Outlook; data provided by the authorities; and IMF staff estimates.

    1/ The projections incorporate spending financed by the EU Recovery and Resilience Facility (including the grant and the loan component) amounting to about 0.7, 1.7, 1.3 and 0.3 percent of GDP from 2024 to 2027.
                           

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

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

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Camila Perez

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

    https://www.imf.org/en/News/Articles/2025/06/05/pr25183-spain-imf-executive-board-concludes-2025-article-iv-consultation-with-spain

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Economics: ICC proposal to reduce tax challenges of cross-border teleworking

    Source: International Chamber of Commerce

    Headline: ICC proposal to reduce tax challenges of cross-border teleworking

    Five years after the pandemic, many organisations have largely returned to office-centric working models. Yet, the crisis fundamentally changed how we work, establishing new expectations around flexibility and remote work that continue to persist. In many ways, we accidentally discovered a way of working that actually fits how people live – one where handling a family crisis abroad didn’t preclude delivering excellent work.

    This shift in expectations has created a new reality for businesses navigating the complex tax risks of flexible work arrangements.

    The gap between employee needs and tax reality

    ICC’s 2023 internal global survey of its members revealed that over 80% of employers receive temporary teleworking requests prompted by family circumstances, health-related needs, caregiving responsibilities, or the use of a secondary residence. Despite these arrangements generally being temporary and arising from normal life circumstances, employers frequently find themselves caught between employee expectations and regulatory uncertainty. These seemingly straightforward requests are hampered due to concerns around permanent establishment risk – the potential for creating a taxable business presence in another country – employer tax and social security obligations, and complex compliance requirements.

    The 60-day teleworking solution

    To address these challenges, ICC has proposed the introduction of a 60-day teleworking ‘safe harbour’, under which an employee’s temporary physical presence in a jurisdiction for teleworking purposes would not, in itself, give rise to a permanent establishment risk, or trigger employer-related tax or social security liabilities. The proposal aligns to the broader principles of international tax law, would not affect a country’s tax rights beyond a limited scope, and can be considered and reflected in the revised Commentary to Article 5 OECD Model Tax Convention and in the Commentary to the UN Tax Convention, without the need to work on a new article.

    Why this benefits everyone, from business to country

    For companies, ‘safe harbour’ eliminates legal uncertainty, allows for project continuity and continued revenue generation, and transforms potential talent retention risks into a competitive advantage.

    For people, it supports workforce well-being by accommodating short-term teleworking needs in times of personal, medical or geopolitical emergencies.

    For tax authorities, it reduces enforcement and compliance burdens and eliminates low-risk, low-revenue case loads from already stretched resources.

    For countries, it ensures that the employee’s country of employment retains its income tax revenue, while the temporary work location benefits from increased consumption and sales tax receipts.

    How it would work in practice

    The proposal is built around several key components:

    • Short-term and on request: The presence of an employee in a country different from the country of employment should be limited in time (e.g. maximum of 60 days per year) and at the request of the employee.
    • A clear definition of a day: Consistent with approaches in tax residency rules, a day should be counted if any work activity is performed from the jurisdiction in question.
    • Individual treatment of multiple employees abroad: The presence of multiple employees in the same country should not be treated cumulatively for determining employer tax liabilities. Each employee’s teleworking days should be assessed independently to avoid unintentionally triggering permanent establishment risks or compliance obligations based on collective presence.
    • Administrative simplification: Where possible, encourage administrative filing to be done in a single country through optional one-stop-shop mechanisms or employer-led tax remittance models..

    MIL OSI Economics –

  • MIL-OSI Security: Southwest Georgia Man Sentenced to Prison for Armed Meth Trafficking

    Source: Office of United States Attorneys

    Investigation Targeted Illegal Drug Suppliers; Defendant Admitted “Lifelong” Meth Dealer

    ALBANY, Ga. – A Southwest Georgia man with a criminal history who admitted to being a “lifelong” methamphetamine supplier and who said he distributed up to three kilograms of the illegal drug per week during the height of the COVID-19 pandemic on behalf of a Mexican drug cartel was sentenced to serve 15 years in federal prison this week.

    Justin Harris Vinson, 42, of Warwick, Georgia, was sentenced to serve 180 months in prison to be followed by five years of supervised release by Chief U.S. District Judge Leslie Gardner on June 4. Vinson previously pleaded guilty to one count of distribution of methamphetamine on Sept. 17, 2024. Codefendant Shana Rae Black, 34, of Cordele, Georgia, was sentenced to serve 168 months to be followed by five years of supervised release on Feb. 28, after she previously pleaded guilty to one count of distribution of methamphetamine on Aug. 15, 2024. There is no parole in the federal system.

    “Repeat convicted felons who weaponize themselves and distribute hazardous, illegal drugs in our communities will be brought to justice,” said Acting U.S. Attorney C. Shanelle Booker. “Alongside our law enforcement partners, our office is working nonstop to identity those offenders causing the most harm in the communities we serve, stop their criminal activities and hold them accountable.”

    “Drug traffickers drive addiction and destroy communities,” said Jae W. Chung, Acting Special Agent in Charge of the DEA Atlanta Division stated. “DEA will use any resource necessary to remove these career criminals from our streets.”

    “Methamphetamine is a highly addictive drug with devastating consequences to users, their families and communities,” said to Special Agent in Charge Paul Brown of FBI Atlanta. “This prosecution closes a pipeline for dangerous drugs flowing into the streets of Southwest Georgia.”  

    “We are committed to holding those who traffic methamphetamine accountable,” said GBI Director Chris Hosey. “Collaborating closely with state, local and federal law enforcement agencies, we will work to ensure justice and dismantle these dangerous networks.”

    “I am incredibly proud of our agency’s relentless efforts and the strong collaboration with our local and federal partners. Methamphetamine trafficking brings dangerous consequences to our community, often resulting in tragedy and loss of life. This case highlights our dedication to safeguarding the community and demonstrates the powerful results we achieve through collaboration,” stated Crisp County Sheriff Billy Hancock.

    “This case demonstrates the daily, unwavering efforts law enforcement agents make to ensure a good case to get criminal offenders off the streets and behind bars,” said Lee County Sheriff Reggie Rachals. “We are proud of the cooperation demonstrated by all to ensure these repeat offenders are held accountable at the federal level, where there is no parole.”

    According to court documents and statements referenced in court, a confidential informant (CI) working with the Crisp County Sheriff’s Office (CCSO) contacted Black on Facebook to obtain methamphetamine on Oct. 27, 2022. Black sold the CI approximately 111 grams of methamphetamine at a Perry, Georgia, motel; the CI reported there was a pistol on a nightstand in the motel room next to a bulk quantity of methamphetamine. On Oct. 31, an undercover Georgia Bureau of Investigation (GBI) agent contacted Black to purchase methamphetamine and met her at the Walmart in Cordele. Under audio and video surveillance, the GBI agent purchased methamphetamine from Black.

    On Nov. 2, FBI, DEA and GBI agents met with another CI to purchase methamphetamine from Vinson. Under surveillance, Vinson met the CI at his Warwick residence and traveled with Vinson to the Sunrise Inn in Cordele to meet with Black. During the transaction, Black provided 284.4 grams of methamphetamine and collected the majority of the cash payment for the drugs, with Vinson keeping $300 as a brokering fee. Vinson was seen with a firearm during the transaction.

    On Nov. 7, CCSO and GBI arrested Black in Crisp County as she traveled in a vehicle back from McDonough, Georgia.  A search of the vehicle revealed Black was in possession of 982.7 grams of 97% pure methamphetamine, 15.89 grams of 91% pure methamphetamine, a digital scale and several cell phones. GBI executed a search warrant on the Baymont Inn motel room in Cordele where Black was staying and found a 9mm semiautomatic pistol, a small bag of suspected methamphetamine, four digital scales and bulk quantities of plastic baggies. Black’s cell phones showed extensive communications between her and known drug dealers.

    On Jan. 22, 2023, Vinson purchased 15 ounces of methamphetamine in Cordele and sold 277 grams of 98% pure methamphetamine to a CI utilized by GBI in Warwick. During the transaction, the CI observed Vinson place a firearm in the center console of his vehicle. A search warrant was executed at Vinson’s residence on Jan. 26, 2023. Law enforcement located a semiautomatic pistol in his bedroom, along with five other firearms, inside of an open safe. Vinson told officers he had been selling methamphetamine in the South Georgia and North Florida area his entire life and that during the peak of COVID in 2020, he would sell approximately three kilograms of methamphetamine per week for six months on behalf of a Mexican drug cartel.

    Vinson has multiple prior felony convictions for possession of methamphetamine. Black also has a previous felony conviction in Jones County, Georgia, Superior Court for possession with intent to distribute methamphetamine.

    This case was investigated by GBI, DEA and the Crisp County Sheriff’s Office with assistance from the FBI and the Lee County Sheriff’s Office.

    Assistant U.S. Attorney Matthew Redavid prosecuted the case for the Government.

    MIL Security OSI –

  • MIL-OSI Europe: VATICAN – Foreign debt, a burden that oppresses the poorest Countries

    Source: Agenzia Fides – MIL OSI

    Vatican City (Agenzia Fides) – There are 48 States that spend more on interest payments than on education or healthcare. This is according to the report “A World of Debt” by the UN Trade and Development (UNCTAD). Debt service, i.e., the payment of interest on loans received, thus has a major impact on the lives of the poorest countries, as the funds allocated to education, healthcare, and subsidies for the purchase of basic goods and fuel are cut. The protests that took place in Nigeria and Kenya in 2024, primarily among young people, are closely linked to this debt mechanism. In order to pay the interest and reduce their countries’ overall debt, the Kenyan and Nigerian governments had presented financial laws that provided for tax increases and subsidy cuts. During his audience with participants in the conference “Debt Crisis in the Global South” organized by the Pontifical Academy of Sciences on June 5, 2024, Pope Francis said: “In the wake of mismanaged globalization, and in wake of the pandemic and wars, we find ourselves faced with a debt crisis that mainly affects the countries of the global South, causing misery and distress, and depriving millions of people of the possibility of a dignified future.” The Pope expressed hope that the Holy Year 2025 will pave the way for “a bold and creative new international financial architecture.” The UNCTAD report agrees with Pope Francis when he states: “The global financial architecture is no longer able to meet the needs of the world in the 21st century. This is a major challenge for sustainable development.” Therefore, creativity and courage are needed to overcome a financial structure that further widens the gap between rich and poor. According to the UNCTAD report, “Developing countries struggle with an international financial architecture whose deeply entrenched asymmetries exacerbate the impact of successive crises on sustainable development. This system exacerbates their debt burden by limiting their access to finance for sustainable development and forcing them to borrow from more costly external sources.” Recent events have exacerbated this challenge. Rising global interest rates since 2022 have further strained developing countries’ public finances. High interest payments outpace growth in basic public spending such as health, education, and climate change mitigation. In developing countries, home to 3.3 billion people, one in three countries spends more on interest payments than on these key areas of human development. “Debt service for public external debt totaled USD 365 billion in 2022, corresponding to 6.3% of export earnings. By comparison, the 1953 London Agreement on German war debt limited the share of export earnings that could be spent on servicing external debt (public and private) to 5% to avoid undermining the recovery,” states the UNCTAD report, highlighting the different treatment of poorer countries today. It notes, in particular, that 61% of developing countries’ debt is held by private creditors who are subject to little political constraint when demanding interest payments. For this reason, the call Pope Francis made on December 16, 2024, during a meeting with representatives of the banking sector, resonates strongly: “The imminent Jubilee reminds us of the need to forgive debts. It is the condition for fostering hope and future in the life of many people, especially the poor. I encourage you to sow hope. Do not tire of accompanying and keeping the level of social justice high.” (L.M.) (Agenzia Fides, 6/6/2025)
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    MIL OSI Europe News –

  • MIL-OSI Global: US health care is rife with high costs and deep inequities, and that’s no accident – a public health historian explains how the system was shaped to serve profit and politicians

    Source: The Conversation – USA – By Zachary W. Schulz, Senior Lecturer of History, Auburn University

    Concessions to the private sector are one reason why health care is so costly. FS Productions/Tetra images via Getty Images

    A few years ago, a student in my history of public health course asked why her mother couldn’t afford insulin without insurance, despite having a full-time job. I told her what I’ve come to believe: The U.S. health care system was deliberately built this way.

    People often hear that health care in America is dysfunctional – too expensive, too complex and too inequitable. But dysfunction implies failure. What if the real problem is that the system is functioning exactly as it was designed to? Understanding this legacy is key to explaining not only why reform has failed repeatedly, but why change remains so difficult.

    I am a historian of public health with experience researching oral health access and health care disparities in the Deep South. My work focuses on how historical policy choices continue to shape the systems we rely on today.

    By tracing the roots of today’s system and all its problems, it’s easier to understand why American health care looks the way it does and what it will take to reform it into a system that provides high-quality, affordable care for all. Only by confronting how profit, politics and prejudice have shaped the current system can Americans imagine and demand something different.

    Decades of compromise

    My research and that of many others show that today’s high costs, deep inequities and fragmented care are predictable features developed from decades of policy choices that prioritized profit over people, entrenched racial and regional hierarchies, and treated health care as a commodity rather than a public good.

    Over the past century, U.S. health care developed not from a shared vision of universal care, but from compromises that prioritized private markets, protected racial hierarchies and elevated individual responsibility over collective well-being.

    Employer-based insurance emerged in the 1940s, not from a commitment to worker health but from a tax policy workaround during wartime wage freezes. The federal government allowed employers to offer health benefits tax-free, incentivizing coverage while sidestepping nationalized care. This decision bound health access to employment status, a structure that is still dominant today. In contrast, many other countries with employer-provided insurance pair it with robust public options, ensuring that access is not tied solely to a job.

    In 1965, Medicare and Medicaid programs greatly expanded public health infrastructure. Unfortunately, they also reinforced and deepened existing inequalities. Medicare, a federally administered program for people over 64, primarily benefited wealthier Americans who had access to stable, formal employment and employer-based insurance during their working years. Medicaid, designed by Congress as a joint federal-state program, is aimed at the poor, including many people with disabilities. The combination of federal and state oversight resulted in 50 different programs with widely variable eligibility, coverage and quality.

    Southern lawmakers, in particular, fought for this decentralization. Fearing federal oversight of public health spending and civil rights enforcement, they sought to maintain control over who received benefits. Historians have shown that these efforts were primarily designed to restrict access to health care benefits along racial lines during the Jim Crow period of time.

    Bloated bureaucracies, ‘creeping socialism’

    Today, that legacy is painfully visible.

    States that chose not to expand Medicaid under the Affordable Care Act are overwhelmingly located in the South and include several with large Black populations. Nearly 1 in 4 uninsured Black adults are uninsured because they fall into the coverage gap – unable to access affordable health insurance – they earn too much to qualify for Medicaid but not enough to receive subsidies through the Affordable Care Act’s marketplace.

    The system’s architecture also discourages care aimed at prevention. Because Medicaid’s scope is limited and inconsistent, preventive care screenings, dental cleanings and chronic disease management often fall through the cracks. That leads to costlier, later-stage care that further burdens hospitals and patients alike.

    Meanwhile, cultural attitudes around concepts like “rugged individualism” and “freedom of choice” have long been deployed to resist public solutions. In the postwar decades, while European nations built national health care systems, the U.S. reinforced a market-driven approach.

    Publicly funded systems were increasingly portrayed by American politicians and industry leaders as threats to individual freedom – often dismissed as “socialized medicine” or signs of creeping socialism. In 1961, for example, Ronald Reagan recorded a 10-minute LP titled “Ronald Reagan Speaks Out Against Socialized Medicine,” which was distributed by the American Medical Association as part of a national effort to block Medicare.

    The health care system’s administrative complexity ballooned beginning in the 1960s, driven by the rise of state-run Medicaid programs, private insurers and increasingly fragmented billing systems. Patients were expected to navigate opaque billing codes, networks and formularies, all while trying to treat, manage and prevent illness. In my view, and that of other scholars, this isn’t accidental but rather a form of profitable confusion built into the system to benefit insurers and intermediaries.

    President Donald Trump’s proposed cuts would reduce Medicaid spending by about US$700 billion.

    Coverage gaps, chronic disinvestment

    Even well-meaning reforms have been built atop this structure. The Affordable Care Act, passed in 2010, expanded access to health insurance but preserved many of the system’s underlying inequities. And by subsidizing private insurers rather than creating a public option, the law reinforced the central role of private companies in the health care system.

    The public option – a government-run insurance plan intended to compete with private insurers and expand coverage – was ultimately stripped from the Affordable Care Act during negotiations due to political opposition from both Republicans and moderate Democrats.

    When the U.S. Supreme Court made it optional in 2012 for states to offer expanded Medicaid coverage to low-income adults earning up to 138% of the federal poverty level, it amplified the very inequalities that the ACA sought to reduce.

    These decisions have consequences. In states like Alabama, an estimated 220,000 adults remain uninsured due to the Medicaid coverage gap – the most recent year for which reliable data is available – highlighting the ongoing impact of the state’s refusal to expand Medicaid.

    In addition, rural hospitals have closed, patients forgo care, and entire counties lack practicing OB/GYNs or dentists. And when people do get care – especially in states where many remain uninsured – they can amass medical debt that can upend their lives.

    All of this is compounded by chronic disinvestment in public health. Federal funding for emergency preparedness has declined for years, and local health departments are underfunded and understaffed.

    The COVID-19 pandemic revealed just how brittle the infrastructure is – especially in low-income and rural communities, where overwhelmed clinics, delayed testing, limited hospital capacity, and higher mortality rates exposed the deadly consequences of neglect.

    A system by design

    Change is hard not because reformers haven’t tried before, but because the system serves the very interests it was designed to serve. Insurers profit from obscurity – networks that shift, formularies that confuse, billing codes that few can decipher. Providers profit from a fee-for-service model that rewards quantity over quality, procedure over prevention. Politicians reap campaign contributions and avoid blame through delegation, diffusion and plausible deniability.

    This is not an accidental web of dysfunction. It is a system that transforms complexity into capital, bureaucracy into barriers.

    Patients – especially the uninsured and underinsured – are left to make impossible choices: delay treatment or take on debt, ration medication or skip checkups, trust the health care system or go without. Meanwhile, I believe the rhetoric of choice and freedom disguises how constrained most people’s options really are.

    Other countries show us that alternatives are possible. Systems in Germany, France and Canada vary widely in structure, but all prioritize universal access and transparency.

    Understanding what the U.S. health care system is designed to do – rather than assuming it is failing unintentionally – is a necessary first step toward considering meaningful change.

    Zachary W. Schulz 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. US health care is rife with high costs and deep inequities, and that’s no accident – a public health historian explains how the system was shaped to serve profit and politicians – https://theconversation.com/us-health-care-is-rife-with-high-costs-and-deep-inequities-and-thats-no-accident-a-public-health-historian-explains-how-the-system-was-shaped-to-serve-profit-and-politicians-256393

    MIL OSI – Global Reports –

  • MIL-OSI United Nations: A financial backbone for stability, not band-aids for crises

    Source: UNISDR Disaster Risk Reduction

    The impacts of disasters are woven into all aspects of life.

    Impacts send shockwaves across all systems – essential services, infrastructure, health, education and economic. They interact with climate change, conflict, economic fragility, and inequality – amplifying risks across systems.

    However, even though disaster costs are rising, financing for disaster risk reduction (DRR) is largely fragmented, short-term, and reactive.

    “Let us be clear: financing disaster risk reduction is not a cost – it is an investment, with benefits across different agendas: from protecting development, to reducing humanitarian needs, and achieving climate and environmental goals.”

    Kamal Kishore, Special Representative of the UN Secretary-General for Disaster Risk Reduction

    To protect development gains from being eroded by a spiral of deepening crises, countries must systematically embed risk reduction in national budget processes – across all levels of government. This will require a raft of innovative financing mechanisms, public-private partnerships and novel inclusive approaches to ensure that investments provide benefits to those who need them most.

    At a ministerial roundtable session at the Global Platform for Disaster Risk Reduction, Accelerating Financing for Resilience: Tailored Solutions for Disaster Risk Reduction, ministers from 43 countries, together with the World Bank and UNDP, discussed the challenges and opportunities they face when financing resilience building; their experiences, successes and solutions; and concrete proposal for inclusive and equitable financing strategies.

    The ministers acknowledged that there is a deficit in global financing for disaster preparedness. The Philippines, South Sudan, Fiji, Barbados, and members of the African Union, amongst others, drew connections between financial planning for disaster risk and broader climate financing, noting the important role of resources like the Green Climate Fund, the Adaptation Fund, and the Loss and Damage Fund.

    Financing resilience is public investment

    Too often, public budgets only respond after disaster strikes. The consequence is mounting human and economic losses, especially in vulnerable countries.

    “The root causes of disaster risk – inequality, misaligned financial incentives, insufficient risk governance – remain unaddressed in many development models.”

    – UNDRR’s 2025 Global Assessment Report on Disaster Risk Reduction (GAR 2025) 

    To address this will require a fundamental rethink, positioning disaster risk reduction firmly in development finance.

    “We must support developing countries in establishing national disaster risk reduction financing systems that are tailored to their development priorities.”

    – Kamal Kishore at the ministerial roundtable. 

    These systems must be pro-active, not reactive, and aligned with each country’s unique development goals, while integrating a firm understanding of systemic and cascading risks.

    India, for example, is taking a rule-based approach with pre-determined allocations that flow from national to district levels. Japan and Norway noted that they are both mainstreaming DRR into private sector practice, with Norway advocating for legal requirements for DRR in corporate strategies.

    The GAR 2025 findings reinforce this more holistic approach, recommending that countries reconfigure their financial and economic governance to create more favourable conditions for DRR investments, especially by shifting public spending “away from short-term consumption and toward resilience-building.”

    Integrating disaster risk financing into budgets

    Resilient budgets require more than a single DRR line item.

    Mr. Kishore highlighted the need to embed risk considerations throughout public financial planning: “This includes exploring ways of embedding resilience into budget planning at every level.”

    That means sectoral ministries, infrastructure agencies, local governments, and fiscal authorities must all adopt risk-informed budget planning. This shift is not just about earmarking funds, but about transforming how development priorities are selected, financed, and measured.

    Countries including Brazil are calling for a global task force on effective DRR financing, while the Philippines proposed a global financing mechanism to support disaster resilience efforts, recognising the need to anchor DRR in fiscal systems.

    In a conversation with Deputy Secretary-General Amina J. Mohammed, Mr Kishore noted that we need a coordinated, global system making the appropriate mechanisms accessible to those who need them most:

    “We have the tools to assess risk and see how much investment will lead to what kind of reduction in risk. We really need to make it a comprehensive system – where national budgets, whether countries have high income or low income – take into account the kind of disaster risk they face and systematically invest in it.” 

    Ms. Mohammed noted the need to develop more innovative financing mechanisms as a key priority during the Global Platform.

    “We need to get to a space where we have more tools accessible to us to do it, and that again is a big challenge for this week.” 

    Tackling systemic challenges

    For many countries, even those with the political will to invest in reducing disaster risk, systemic barriers stand in their way. These include:

    • Weak institutional frameworks for DRR investment planning.
    • Limited understanding of how DRR links to fiscal risk.
    • Inadequate incentives to prioritise risk reduction in capital budgeting.

    DRR financing also needs to penetrate to local levels, enabling resources to reach the communities that need them most. Without fiscal devolution, even the most risk-informed national strategies will fall short in implementation.

    Incentives for private sector investment

    Initiatives to finance resilience must move away from reliance on public coffers.

    This involves building stronger partnerships with the private sector, and cultivating greater awareness of the benefits of such investments and the dangers of neglecting them.

    “We must enhance partnerships with the private sector, as it is a major source of financing that is often not guided by an understanding of disaster risks,” Kamal Kishore said. 

    The financial sector can play a catalytic role by developing innovative instruments, such as resilience bonds, blended finance structures, and a broad spectrum of insurance solutions. Several countries are already putting such innovations into practice:

    • China described its rollout of agricultural insurance, and its investment of $154 billion in property insurance.
    • Kiribati described its community-based insurance for drought programme providing payouts to farmers and fishers.
    • Norway highlighted parametric insurance schemes.
    • The Bahamas explained how they use their disaster-related expenditures tracking tool to map pre-disaster investments and post-disaster costs.

    To mainstream such approaches, updated regulatory frameworks, disclosure standards, and fiscal incentives are needed to guide private capital toward risk reduction and embed DRR into national financial systems.

    Risk-aware international finance

    The global community must step up to encourage investors, both public and private, to prioritize DRR financing.

    “We must rally the international community to prioritize investment in disaster risk reduction. This includes dedicating a larger portion of assistance funding to disaster risk reduction and ensuring all development funding is risk informed.”

    – Kamal Kishore

    Official development assistance (ODA) and climate finance must be structured and delivered accordingly. Risk-blind development projects, even when well-intentioned, can inadvertently amplify vulnerability.

    Several countries at the roundtable – including Cambodia, Paraguay, and Montenegro – highlighted the importance of integrating DRR into social investment strategies, including gender-responsive financing, elderly-focused social protection, and health system resilience. Czechia called for embedding DRR funding across the humanitarian-development nexus.

    “The upcoming Fourth International Conference on Financing for Development presents a critical opportunity to advance all these priorities to ensure all development is safe from disasters.”

    – Kamal Kishore

    The shift toward DRR financing within national budgets is technically feasible, economically wise, and morally urgent. As extreme weather events, pandemics, and conflict interact in increasingly complex ways, the costs of inaction grow exponentially.

    By embedding DRR in national budgets, governments protect long-term development investments, and communities gain tools and funding for local resilience.

    Additionally, the private sector becomes a co-architect of safety, increasing its stake in resilience building efforts, and international aid transitions from offering band-aids to repeated crises to providing a backbone for lasting stability.

    “We must acknowledge that resilience is a long-term economic necessity, and it does have the best return on investment.”

    – Amina Mohammed

    MIL OSI United Nations News –

  • MIL-OSI USA: Governor Newsom joins Compton students to announce the Golden State Literacy Plan and deployment of literacy coaches statewide

    Source: US State of California 2

    Jun 5, 2025

    What you need to know: Governor Gavin Newsom today announced the Golden State Literacy Plan — a step-by-step strategy to improve student reading achievement across California, building on existing efforts and proposing bold new investments. The Golden State Literacy Plan includes the deployment of over one thousand literacy coaches and specialists to the state’s highest need schools.

    COMPTON – Standing alongside students and educators at Clinton Elementary School, Governor Gavin Newsom today launched the Golden State Literacy Plan, a step-by-step plan to boost literacy outcomes for California students. The plan builds on California’s recent progress in reading achievement while expanding investments to ensure every student — in every zip code — has the support they need to learn to read and read to learn. Implementation of these reforms over the coming years will mean that all students receive the comprehensive literacy instruction they need to read and analyze diverse texts, think critically and express their ideas orally and in writing, as students today and as citizens tomorrow.

    “Literacy is the pathway to success – all of California’s kids deserve to discover the joys and benefits of reading and the power to formulate and express their ideas. I’m proud to unveil the Golden State Plan for Literacy today to give teachers, schools, and students the power to read – and succeed.”

    Governor Gavin Newsom

    State Superintendent Tony Thurmond: “Literacy has the power to unlock countless doors for our students and transform their lives. We are implementing a strategy to move the needle on literacy, which has already funded literacy coaches and reading specialists at 803 sites across 45 counties and has provided professional learning to nearly 4,000 educators within just this past year. I thank Governor Newsom for his partnership in this work and for proposing a budget this year that builds upon these critical investments in our children’s futures.”

    State Board of Education President Linda Darling-Hammond: “The Golden State Literacy Plan is an encouraging milestone in our ongoing quest to improve literacy education, making sure it’s effective, meaningful, and engaging for all of our students. We know effective literacy instruction requires early language development; diagnosis of student needs and progress; high-quality curriculum and materials; and preparation, professional development, and coaching for teachers so that they understand the reading process thoroughly and become adept at addressing diverse student needs, including those of English learners.  As all of these elements are being strengthened in California, we are seeing progress that will accelerate in the years to come.”

    Current landscape

    While California, like all states, experienced setbacks during the pandemic, the state’s progress in literacy since the adoption of our curriculum framework has been noteworthy. 

    • Between 2011 and 2022, California’s 8th grade reading achievement on the National Assessment of Educational Progress (NAEP) improved more than any other state in the nation. 
    • California was one of three states that had the nation’s largest gains in 4th grade reading on NAEP over that decade. 
    • California was one of only a few states whose NAEP reading scores did not decline during the pandemic (2019-2022). 
    • While these indicators are positive, there is more work to be done to ensure all students achieve literacy success.

    Literacy initiatives under Governor Newsom 

    The Newsom Administration in partnership with the Legislature has made significant investments in evidence-based literacy and professional learning to support the implementation of the ELA/ELD standards. Among these initiatives are:

    • Literacy Coaches: To date, the State has invested a total of $500 million for Literacy Coaches in the 2022 and 2023 Budget Acts, funding 818 of the state’s highest needs schools to hire and train literacy coaches and reading specialists.  
    • Screener for Reading Difficulties: Beginning in the 2025-26 school year, California’s 1.2 million kindergarten, first, and second grade students will be annually screened for reading difficulties, including dyslexia. $25 million is allocated to support administration of literacy screenings. 
    • Teacher Recruitment and Retention: Well-prepared educators are essential to delivering high quality literacy instruction, and the state has invested $1.3 billion in recent years to recruit and retain quality educators.
    • Literacy Roadmap: Beginning in the 2025-26 school year, elementary grades educators have literacy blocks to guide instruction with evidence-based strategies to support comprehensive literacy instruction.
    • Learning Recovery Emergency Block Grant: The State has allocated a total of $6.8 billion for the Learning Recovery Emergency Block Grant (LREBG) to support LEAs in addressing the academic and emotional impacts of the pandemic, including low ELA test scores.
    • Universal Transitional Kindergarten (TK): . In 2025-26, the state will provide universal access to TK, which will provide pre-kindergarten to more than 300,000 additional four-year-olds (compared to the 2021-22 school year).
    • Before School, After School, and Summer School: The Expanded Learning Opportunities Program provides before, after, and summer school instruction and enrichment for students in grades TK-6, including high-impact tutoring.

    Proposed investments in literacy 

    The Governor’s Budget builds on the existing literacy initiatives and includes the following additional investments:

    • $500 million for TK-12 Literacy and Mathematics Coaching, which builds upon and expands the existing Literacy Coaches and Reading Specialists Grant Program and includes a new opportunity to support mathematics coaching.
    • $378.6 million in additional LREBG funding for LEAs.
    • $40 million in additional funding to support annual reading difficulties screenings for kindergarten, first, and second grade students. 
    • $25 million to launch Literacy and Mathematics Networks to support implementation of state reading and mathematics initiatives. 
    • Directs the Instructional Quality Commission to initiate an adoption for ELA/ELD instructional materials.
    • $1.7 billion for the Student Support and Discretionary Block Grant which prioritizes professional development on the ELA/ELD Framework and the Literacy Roadmap.
    • $2.1 billion to support the full implementation of universal TK, so that all children who turn four years old by September 1 of the school year can enroll in TK, and an additional $1.2 billion to support lowering the average student-to-adult ratio in every TK classroom.
    • $525.5 million to support full implementation of the Expanded Learning Opportunities Program, increasing the total ongoing funding for before, after school and summer school instruction and enrichment to $4.5 billion. 

    In addition, the Governor’s May Revision includes:

    • $200 million one-time funding to support evidence-based professional learning in literacy instruction for elementary school teachers. This proposal stems from AB 1454 by Speaker Robert Rivas that has brought together a broad coalition to support evidenced-based literacy teaching. 

    $10 million one-time funding to support the expansion of the Multitudes reading difficulties screening tool in additional languages. 

    Press releases, Recent news

    Recent news

    Jun 5, 2025

    News SACRAMENTO – Governor Gavin Newsom issued the following statement today after a federal judge ruled that the Trump administration must restore funding to AmeriCorps in California. This comes after Governor Newsom, Attorney General Rob Bonta and a coalition of…

    Jun 5, 2025

    News What you need to know: California is launching the CalAssist Mortgage Fund on June 12, 2025, to provide $105 million in relief offering up to $20,000 to homeowners whose homes were destroyed in recent disasters, including the Los Angeles firestorms. LOS ANGELES —…

    Jun 4, 2025

    News What you need to know: California added a record of nearly 7,000 megawatts of new clean energy capacity in 2024, marking the largest single-year increase in state history and the third consecutive year of unprecedented growth. SACRAMENTO – California has achieved…

    MIL OSI USA News –

  • MIL-OSI Europe: EU Fact Sheets – The internal market: general principles – 05-06-2025

    Source: European Parliament

    The internal market is an area that fosters prosperity and enables the free movement of goods, services, people and capital. As the world’s largest single market, it leverages its scale to create jobs, drive business opportunities and promote European standards globally. It also tackles ongoing global challenges, such as the COVID-19 pandemic and Russia’s war of aggression against Ukraine, which have led to restrictions of free movement and shortages of goods and services.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Tackling fuel poverty in privately rented homes

    Source: Scottish Government

    Proposals for minimum standards of energy efficiency

    Private rented homes could be subject to a Minimum Energy Efficiency Standard (MEES) from 2028 to support efforts to tackle fuel poverty and reduce emissions that contribute to climate change.

    Under proposals published today, regulations would be brought forward under existing powers requiring privately rented properties, as far as possible, to reach the reformed EPC Heat Retention Rating (HRR) band C from 2028 for new tenancies and by 2033 for all privately rented homes.

    In 2022 there were 300,000 privately rented properties in Scotland. The regulations would prohibit the letting of properties which fall below the minimum standard of energy efficiency, until the landlord has made any relevant energy efficiency improvements.

    The current system of Energy Performance Certificates (EPC) is due to be revised and updated from 2026 with a new set of ratings to give clearer information on the fabric energy efficiency of a property; the emissions, efficiency and running costs of its heating system; and the cost of energy to run the home.

    Alasdair Allan, Acting Minister for Climate Action said:

    “It is vital that we find the right balance to both reach net zero by 2045 and reduce fuel poverty. Improving energy efficiency is one of the levers available to the Scottish Government that enables this dual progress.

    “The lowest rates of fuel poverty are associated with higher energy efficiency standards. A majority of privately rented properties are already at a good standard of energy efficiency, based on the current EPC regime, but others still need improvement to bring them closer to reaching a good level.

    “These proposals will improve those homes, reduce energy costs for tenants and support the transition to clean heating – which we will be further strengthening through the Heat in Buildings Bill that we have committed to bring forward later this year. Installing better insulation and other energy efficiency measures will also benefit people’s health, by reducing the risk of cold and dampness-related conditions.

    “The Scottish Government continues to offer a wide range of support to people and organisations looking to move to clean heating or improve energy efficiency, including to private landlords.”

    Exemptions are proposed to provide protection to landlords in situations where they are prevented from obtaining third party consent or permissions to carry out work; and where undertaking work could have a negative impact on the fabric or structure of the property.

    Previous proposals to regulate energy efficiency for the private rented sector were put forward in 2020 but withdrawn as a consequence of the Covid-19 pandemic.

    Background

    Also published today are proposals for a Heat and Energy Efficiency Technical Suitability Assessment, which could support consumers by providing further evidence, beyond the EPC system, of which energy efficiency or clean heating system measures are technically suitable for their home or building, and which may not be. This optional assessment would support in particular those in buildings which are more complex to decarbonise such as tenements, traditional and protected buildings.

    Consultation on Draft Energy Efficiency (Domestic Private Rented Property) (Scotland) Regulations

    Heat & Energy Efficiency Technical Suitability Assessment (HEETSA) – Scoping Consultation

    Private Rented Sector Landlord Loan Scheme

    Warmer Homes Scotland

    Energy efficiency: Area Based Schemes

    Withdrawn regulations: The Energy Efficiency (Domestic Private Rented Property) (Scotland) Regulations 2020

    MIL OSI United Kingdom –

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

    Source: IMF – News in Russian

    June 6, 2025

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

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

    Washington, DC – June 6, 2025: Lithuania has proved resilient to multiple shocks in recent years. However, new challenges are emerging—including further increases in defense expenditure adding to the existing long-term spending pressures—while long-standing structural issues still require attention. Lithuania needs to reignite its reform momentum to boost productivity while addressing these challenges. A comprehensive strategy is needed to preserve fiscal space through revenue mobilization, enhanced spending efficiency, and limiting further spending pressures by strengthening the multi-pillar pension system. Structural reforms should focus on facilitating investments and accelerating the adoption of new technologies to boost productivity growth, supplemented by labor market policies, including reducing skills mismatches. Financial sector policies should continue to safeguard financial stability and integrity.

    Recent Developments, Outlook, and Risks

    The economy grew strongly in 2024. Growth accelerated to 2.7 percent—well above peers—driven by private consumption supported by significant real income gains. The recovery was broad-based across sectors, including manufacturing and high value-added services, despite sluggish productivity growth. While inflation remained low for the most part of the year, it has risen since late 2024, driven by higher energy prices and excise duties.

    While fiscal performance exceeded expectations, the deficit widened, and the debt ratio is increasing. The deficit almost doubled from 0.7 percent of GDP in 2023 to 1.3 percent of GDP in 2024, reflecting increased public wages and pensions. Higher revenues supported by robust aggregate wage growth and lower-than-anticipated expenditure, mainly from the accrual correction in defense spending, prevented the deficit from increasing further. However, pre-payments for additional orders of defense equipment and the continued buildup of the general government cash buffer contributed to an increase in the debt-to-GDP ratio from 37.3 percent in 2023 to 38.2 percent in 2024, for the first time since 2020.

    The banking sector remains financially sound, with high capitalization, ample liquidity buffers, and low non-performing loan (NPL) ratios. Banks continue to be highly profitable, although profitability eased in 2024 compared to the record high levels seen in the previous year, against lower interest rates driven by ECB monetary policy easing.

    There are signs of gradual financial expansion. Reflecting decreasing lending rates and recovering credit demand, loan growth to both non-financial corporations and households recovered in 2024 and early 2025, and credit-to-GDP ratios have increased moderately. House price growth stabilized in 2024, down from the 2022 peak. Nevertheless, house prices are likely not significantly above levels justified by fundamentals, given the recent robust demand while housing supply is increasing, and affordability has improved.

    The economy is expected to grow at 2.8 percent in 2025 while inflation will increase to 3.1 percent. Growth will be supported by private consumption and rising investment related to EU funds. External demand will remain subdued reflecting uncertainty regarding trade policies, despite the positive outlook of information and communication technologies (ICT) and professional activities. Increased excise duties and persistently high wage growth will keep headline and core inflation above pre-pandemic averages in the coming years. The labor market will tighten reflecting negative labor force dynamics affected by the normalization of migration flows.

    Risks to the outlook are tilted to the downside. As a small open economy, Lithuania is exposed to high uncertainty around trade policies and geopolitical risks. A severe downturn in its main trade partners would worsen the external performance and domestic activity. In the medium term, weaker demographics pose risks to labor supply which could add pressures on wages and competitiveness if productivity growth fails to accelerate. In the absence of sufficient measures, the fiscal position is subject to considerable medium-term risk with higher defense spending needs adding to the already high existing long-term pressures.

    Fiscal Policy

    A moderately less expansionary fiscal stance than currently expected would be helpful in 2025, and the strategy should shift to preserving fiscal space. The deficit is projected to rise to 2.8 percent of GDP in 2025, due to significant increases in pension spending and higher public sector wages. However, with a small and decreasing negative output gap under staff projections and considering mounting spending pressures in the medium term, going forward, a moderately tighter fiscal stance to reduce deficits and stabilize the debt-to-GDP ratio would be appropriate. With a view to safeguarding fiscal buffers and minimize the need for larger adjustments in later years, any unused spending or revenue overperformance this year should be saved to limit the deficit increase.

    A stronger fiscal adjustment will be required if defense spending rises notably from current levels. The envisaged increase in defense spending to 5-6 percent of GDP in 2026-30 from the current level of 3 percent would raise financing needs significantly. In the absence of additional fiscal measures, debt could reach 60 percent of GDP by 2030. The proposed tax policy changes to accommodate these spending needs are welcome, but the revenue yield is estimated to be modest. Greater efforts will therefore be needed to maintain debt dynamics on a sustainable path in the medium term to preserve fiscal space to absorb possible future shocks. An average annual adjustment of about 0.5 percentage points of GDP in the general government balance over 2026-30, with the majority of additional defense spending financed by front-loaded increases in tax revenues, would help stabilize debt at around 50 percent of GDP by 2030.

    Financing options for additional defense spending should be anchored by revenue mobilization. While temporary measures and productivity-enhancing capital expenditure could be deficit-financed, a sizable part of the additional defense spending is likely to be permanent, warranting higher revenues or lower spending in other areas. The tax policy change proposal appropriately targets a mix of taxes, but there is further scope to raise additional revenues while improving the system, including increasing progressivity and efficiency. This could include raising revenues through making the personal income tax (PIT) system more progressive and streamlining the tax schedules to prevent higher marginal tax rates for lower income earners, limiting exemptions in corporate income taxes (CIT) and property taxes, and reducing the value added tax (VAT) compliance gap while improving VAT efficiency.

    Revenue mobilization should be complemented by spending measures. Fiscal savings could be generated by improving spending efficiency, including in healthcare and education. Hospital network rationalization could enhance the quality of service while reducing costs. The teacher-student ratio is relatively high for secondary education and there is room to rationalize the school network while improving quality.

    Strengthening the multi-pillar pension system will limit some of the additional spending pressures in the medium-term. The current pension system implies significant increases in public pension expenditure over the next two decades, driven by adverse demographics, while replacement ratios will remain low. The Pillar II reform proposal under discussion, entailing participation to become voluntary and increased options to opt out and suspend participation, is likely to further reduce the replacement rate. These changes could have a material impact on the entire pension system and the public finances. Staff urges the authorities to allow sufficient time to carefully consider all potential ramifications, including through further thorough analysis of the social and fiscal sustainability of the broader pension system.

    Financial Sector Policies

    Financial sector policies should continue to focus on safeguarding financial stability. Bank profitability is expected to moderate further but to remain high in 2025. Financial conditions are likely to ease in 2025 due to declining ECB policy rates and increased competition in financial sector, such as from the increasing footprint of fintech companies. Solvency and liquidity stress tests conducted by the Bank of Lithuania suggest that banks can withstand adverse macroeconomic scenarios and unexpected liquidity shocks. While some smaller banks require enhancing capitalization and closer oversight, all in all, financial stability risks arising from the banking system are broadly contained. With an increased frequency of cyberattacks on banks in recent years, cyber resilience should continue to be strengthened, including the full implementation of the Digital Operational Resilience Act (DORA) regulation.

    The current macroprudential stance is broadly appropriate, but continued vigilance is warranted. Financial cycles including residential real estate and private sector credit so far have exhibited no major signs of overheating, but the sustained pace of expansion requires close monitoring and readiness to act in case early signs of an excessive financial expansion emerge. Despite the low exposure of banks, the commercial real estate market continues to require attention as risks of price corrections remain due to the persistent imbalance between supply and demand. In the event of a significant adverse financial shock with the potential to trigger widespread losses in the banking sector, the relaxation of capital-based measures would be appropriate to minimize credit supply disruptions and support lending to the economy.

    The AML/CFT framework has been strengthened significantly, but continued effective implementation is essential. The third national risk assessment identified virtual asset service providers (VASPs), and electronic money institutions (EMI), and payment institutions (PI) as posing significant ML/TF risks. The authorities should continue AML/CFT efforts to mitigate cross-border risks, including Bank of Lithuania’s oversight and market controls for newly licensed VASPs under MiCAR regime, supervision of payment service institutions, and AML/CFT measures for CENTROlink members.

    Structural Reforms

    Lithuania faces structural headwinds limiting productivity and long-term growth. The recent recovery has been largely driven by higher labor accumulation enabled by temporary net migration, while the contributions from capital and total factor productivity (TFP) growth remained smaller than those observed during earlier periods of faster income convergence. Given expected population declines in the coming years, structural reforms to facilitate greater capital deepening and higher productivity growth are essential.

    Higher investment is needed to support potential growth. Low capital intensity remains a key barrier to productivity growth and the transition towards a higher value-added oriented economy. Development of risk capital, co-financing and mechanisms for risk sharing tailored to enhance the flow of credit to small and medium sized enterprises (SMEs), targeted credit guarantee schemes and integrating digital solutions can help alleviate constraints related to the lack of access to finance experienced by some firms. In this context, the expanded role of the state-owned institution ILTE—previously INVEGA—can play a role, complementing the private banking sector in supporting investment in areas such as high value-added sectors, innovation, energy efficiency, and strategic infrastructures. To consolidate the institution’s role as a national development bank, it is essential to ensure effective monitoring and transparency of ILTE operations. More fundamentally, deepening the EU’s single market—combined with stronger incentives to develop domestic capital markets—would help support access to finance of corporates and further productive investments in the country.

    Inefficiencies in the education system contribute significantly to the persistent skills mismatches in Lithuania’s labor market. As one of the countries with the highest skills mismatches in Europe, Lithuania faces ongoing challenges despite measures including the government’ active labor market policies and their evaluation and the smart specialization multi-year program aimed at enhancing workforce skills. Critical shortages persist in essential sectors, including nursing, engineering, and scientific fields, highlighting the urgent need for strategic reforms in education and training to better align with market demands.

    Ensuring effective integration of migrants into the labor market is crucial to sustain the labor force. Recent immigrants have been successfully absorbed into the Lithuanian labor market and legislative amendments have enabled easier migration for high-skilled workers despite the reduction of the non-EU workers quota in 2025. Policies should focus on integrating migrants in the most productivity-enhancing way possible while facilitating the participation of foreign professionals in those sectors with the largest shortages.

    Further investment in digitalization and AI preparedness has the potential to boost productivity growth. Lithuania has invested significantly in digitalizing its economy in recent years, becoming one of the main fintech hubs in Europe. However, despite progress in digitalization and in AI preparedness, its digital infrastructure remains close to the EU average. To unlock possibly substantial productivity gains, policies should aim to facilitate technological diffusion, job transition and AI adoption among firms, while introducing measures to mitigate associated risks in terms of possible job replacements and inequality deepening. In this respect, the recent initiatives included in the START plan aimed at promoting digitalization and the deployment of AI both in the private sector and in public administration will support these efforts.

    Energy security has been reinforced in the last years. The Baltic countries joined the European electricity grid in 2025, completely disconnecting from the Russian electricity system. Moreover, Lithuania has diversified its energy sources and import dependency has been lowered through the intensification of domestic electricity production from renewable sources in the recent years. Still, being susceptible to risks associated with climate change, Lithuania needs to accelerate the green transition, particularly for adaptation. In this respect, future investment in new technologies and defense initiatives should not thwart efforts to reduce economy-wide emissions, such as the recently adopted policies in the context of the updated National Energy and Climate Action Plan (NECP) for the period 2021–2030.

    The IMF team is grateful for the warm hospitality of the Lithuanian authorities and would like to thank all its interlocutors in government, the Bank of Lithuania, the European Central Bank, the private sector, unions, and business associations for constructive and fruitful discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Boris Balabanov

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

    https://www.imf.org/en/News/Articles/2025/06/06/mcs662025-lithuania-staff-concluding-statement-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: New ambulances and faster emergency care for patients next winter

    Source: United Kingdom – Executive Government & Departments

    Press release

    New ambulances and faster emergency care for patients next winter

    Patients will receive better, faster and more appropriate emergency care as the government sets out reforms to shorten waiting times in A&E.

    • Nearly £450 million investment to expand urgent and emergency care facilities to provide faster care for patients

    • 800,000 fewer patients each year to wait more than four hours at A&E, and more will receive urgent treatment in their community

    • Part of government’s Plan for Change to modernise NHS services and improve emergencv care.

    Patients will receive better, faster and more appropriate emergency care as the government sets out reforms to shorten waiting times and tackle persistently failing trusts.

    The new package of investment and reforms will improve patients’ experiences this year, including by caring for more patients in the community, rather than in hospital which is often worse for patients and more expensive for taxpayers.

    Backed with a total of nearly £450 million, the plan will deliver:

    • Around 40 new Same Day Emergency Care and Urgent Treatment Centres – which treat and discharge patients in the same day, avoiding unnecessary admissions to hospital.
    • Up to 15 mental health crisis assessment centres to provide care in the right place for patients and avoid them waiting in A&E for hours for care, which is not the most appropriate setting for people who are experiencing a crisis. These centres will offer people timely access to specialist support and are directed to the right care.
    • Almost 500 new ambulances will also be rolled out across the country by March 2026.

    The plan’s emphasis will be on shifting more patient care into more appropriate care settings as part of the move from hospital to community under the government’s Plan for Change to rebuild the NHS, while tackling ambulance handover delays and corridor care.

    Health Secretary Wes Streeting said:

    No patient should ever be left waiting for hours in hospital corridors or for an ambulance which ought to arrive in minutes.

    We can’t fix more than a decade of underinvestment and neglect overnight. But through the measures we’re setting out today, we will deliver faster and more convenient care for patients in emergencies

    Far too many patients are ending up in A&E who don’t need or want to be there, because there isn’t anywhere else available. Because patients can’t get a GP appointment, which costs the NHS £40, they end up in A&E, which costs around £400- worse for patients and more expensive for the taxpayer.

    The package of investment and reforms we are announcing today will help the NHS treat more patients in the community, so they don’t end up stuck on trolleys in A&E. Hundreds of new ambulances will help cut the unacceptably long waiting times we’ve seen in recent years. And new centres for patients going through a mental health crisis will provide better care and keep them out of A&E, which are not well equipped to care for them.

    By shifting staff and resources out of hospitals and into communities, and modernising NHS technology and equipment, our Plan for Change will make sure the NHS can be there for you when you need it, once again.

    NHS Chief Executive Sir Jim Mackey said:

    Urgent and emergency care services provide a life-saving first line of defence for patients – but for too long now, despite the incredible hard work of staff, the speed and quality of NHS care has often not been good enough.

    Our patients and staff deserve better, so that is why we need a radical change in approach and to ensure we get the basics right.

    This major plan sets out how we will work together to resuscitate NHS urgent and emergency care, with a focus on getting patients out of corridors, keeping more ambulances on the road, and enable those ready to leave hospital can do so as soon as possible.

    NHS National Director for Urgent and Emergency Care Sarah-Jane Marsh said:

    It is vital that patients can access our urgent and emergency care services in the right place at the right time, and that the care provided is to a standard we would want for ourselves and our own families.

    While the 10 Year Health Plan will set out a longer-term vision to transform urgent and emergency services for the 21st century, there is so much more we could all be doing now.

    This plan sets out not only what we know is working across the country, but how systems must work together to improve access and quality for the benefit of our patients.

    In order to support this shift in delivery focus, NHS England will be asking providers and systems to be accountable to their own local Boards and populations, creating robust winter plans which will be tested during winter exercises throughout September”.

    Every day, more than 140,000 people access urgent and emergency care services across England. Since 2010/11, demand has almost doubled with ambulance service usage rising by 61%.

    A&E waiting time standards have not been met for over a decade, while the 18-minute target for category 2 ambulance calls has never been hit outside the pandemic.

    But at least one in five people who attend A&E don’t need urgent or emergency care, while an even larger number could be better cared for in the community.

    The plan focuses on making winter 2025/26 significantly better than recent winters by setting ambitious but achievable targets and increasing transparency about progress.

    It marks a fundamental shift in our approach to urgent and emergency care – moving from fragmented efforts to genuine collaboration across the whole system and mean better coordination between NHS trusts and primary care to identify patients most vulnerable during winter.

    And it aims to make the most difference to patients by focusing on specific improvements across the healthcare system, aligning resources to areas that need them most.

    The plan will also see more patients receive care in the community, rather than being unnecessarily admitted into hospital, through measures including:

    • More paramedic-led care in the community – which means patients will receive more effective treatment at the scene of an accident or in their own homes from ambulance crews
    • Increasing numbers of patients seen by urgent community response teams – which provide urgent care to people in their homes, helping to avoid hospital admissions and enable people to live independently for longer. Local areas will be told to lay out how they will expand access to these teams, which includes understanding level of needs;
    • Better use of virtual wards – which use modern technology to provide patients with hospital-level care at home safely and in familiar surroundings, speeding up their recovery while freeing up hospital beds for patients that need them most
    • And publishing league tables on performance to drive improved transparency and public accountability and as well as encouraging less effective systems to work more closely with high performing systems to accelerate improvement.

    Thanks to the investment and reforms announced today, 800,000 fewer people should be forced to wait more than 4 hours for care in emergency departments this year.

    Chief Executive of NHS Providers Daniel Elkeles said:

    There is a lot to like about this plan. It’s helpful that we’re seeing it in early summer, with time to ensure meaningful measures are in place ahead of the added pressures of winter.

    It’s also good to see that so many parts of the system, including primary, community and mental health care, in addition to ambulance and hospital services, have been factored in.

    The extra capital investment for same day emergency care and mental health crisis assessment centres and ambulance services is particularly welcome, as is the emphasis on vaccination – and on this we’d urge NHS staff and the public to play their part by getting that protection.

    This plan should result in meaningful progress compared to last winter. As the plan acknowledges the public and our staff want to know the NHS can respond quickly, safely and effectively in an emergency. NHS Providers would like to work with NHSE and the government to develop long term UEC plans that are bold and ambitious.

    Association of Ambulances Chief Executives Managing Director Anna Parry said:

    The new urgent and emergency care plan reaffirms AACE’s vision for the future of NHS ambulance services. By extending and formalising a wider ambulance sector remit in urgent and emergency care, we will be better placed to help resolve some of the key system pressures, reduce the risks for patients and transform patient care while offering a more positive working environment for our people.

    By underscoring the importance of a system-wide focus to achieve improvements in urgent and emergency care, this new plan acts as a genuine challenge to all health and social care leaders, encouraging them to plan and act with purpose to achieve the transformation that is needed. Ambulance service leaders continue to proactively seek increased opportunities for greater collaboration with system partners while identifying new strategies and initiatives within their own ambulance trusts to achieve the transformation targets outlined in the plan.

    We are particularly heartened to see the plan’s emphasis on the reduction and improved management of hospital handover delays. Handover delays have the greatest detrimental impact on ambulance resources and create unnecessary delays and additional harm for thousands of patients each year. The elimination of corridor care and the focus on reducing 12-hour waits at emergency departments is also welcomed.

    Finally, we wholeheartedly endorse and support the plan’s underlined recognition of the impact of the delivery of sub-optimal care on NHS staff, alongside the pivotal role both leadership and a strong system-level approach must play in the transformation of urgent and emergency care.

    NHS Confederation Chief Executive Matthew Taylor said:

    Health leaders across systems, providers and primary care will welcome this plan to provide better, faster and more appropriate emergency care, an area which is facing high demand and rising public concern over performance.

    As the plan shows, there is a lot of good practice across the health service to build upon, including expanding the number of same day emergency treatment and mental health crisis assessment centres and rolling out more ambulances.

    Making sure the NHS does not continue to fall into crisis each winter will be essential for improving public confidence in the health service. Strong collaboration between health partners and with local government to improve discharges out of hospitals will also be key to progress.

    Updates to this page

    Published 6 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Reps. Salinas and Panetta Reintroduce the Farmers Feeding America Act

    Source: US Representative Andrea Salinas (OR-06)

    Today, U.S. Representatives Andrea Salinas (OR-06) and Jimmy Panetta (CA-19) introduced the Farmers Feeding America Act, a bill that would help food banks meet demand and ensure families stay fed and healthy by expanding the U.S. Department of Agriculture’s (USDA) ability to purchase food directly from producers, including Oregon’s small family farms.

    Washington, DC – Today, U.S. Representatives Andrea Salinas (OR-06) and Jimmy Panetta (CA-19) introduced the Farmers Feeding America Act, a bill that would help food banks meet demand and ensure families stay fed and healthy by expanding the U.S. Department of Agriculture’s (USDA) ability to purchase food directly from producers, including Oregon’s small family farms.

    “The pandemic, lingering inflation, and the Trump Administration’s disastrous policies have all made it harder for working families to make ends meet in recent years, and food banks have struggled to keep up with record demand,” said Rep. Salinas. “Now, Republicans are trying to force through partisan legislation that would threaten food assistance for over 800,000 Oregonians. I voted against that bill, and I’m proud to introduce the Farmers Feeding America Act to expand The Emergency Food Assistance Program. This bill will ensure our local food banks are fully stocked, support local farmers, and help families put food on the table.”  

    “Many working families across my congressional district and throughout the country rely on food banks to put food on the table,” said Rep. Panetta.  “The Farmers Feeding America Act would strengthen working families, and by allowing the USDA to purchase food directly from local farmers for food banks, the bill would also bolster our communities.  At a time when there are politicians who want to cut these types of essential benefits, we are working hard to fight hunger by supporting agriculture and ensuring that working families have access to healthy food.”

    In 2023, 13.5 percent of Americans — or 18 million households — were food insecure. However, as higher prices continue to impact working families’ ability to afford food and basic necessities, local food banks are often unable to meet the need in their communities. Meanwhile, Republicans are pushing ahead with legislation to attack core nutrition benefits, taking food assistance away from at least 3 million Americans.

    The Farmers Feeding America Act would significantly increase funding for The Emergency Food Assistance Program (TEFAP). TEFAP provides commodities like fruits and vegetables, as well as monetary support, to food banks, food pantries, soup kitchens, shelters, and other types of emergency feeding organizations. In addition to serving individuals, TEFAP supports local agriculture by enabling USDA to purchase food directly from producers.

    Along with Reps. Salinas and Panetta, the legislation is cosponsored by Reps. Becca Balint (VT-AL), Salud Carbajal (CA-24), Troy Carter (LA-02), Emanuel Cleaver II (MO-05), Jim Costa (CA-21), Suzan DelBene (WA-01), Christopher Deluzio (PA-17), Cleo Fields (LA-06), Robert Garcia (CA-42), Raja Krishnamoorthi (IL-08), Mary Gay Scanlon (PA-05), Melanie Stansbury (NM-01), Marilyn Strickland (WA-10), Shri Thanedar (MI-13), Jill Tokuda (HI-02), Juan Vargas (CA-52). 

    The bill is also endorsed by the following organizations, in alphabetical order: Alliance to End Hunger, Door Dash, Feeding America, Marion Polk Food Share, Second Harvest of Santa Cruz County, Second Harvest of Silicon Valley. 

    “With food prices and food insecurity on the rise, this necessary investment will help struggling families put nutritious food on the table,” said Minerva Delgado, Director of Coalitions & Advocacy, Alliance to End Hunger.

    “In every community across the U.S., people are working hard to provide for themselves and their families. Yet in 2023, 47 million people—1 in 7 people—experienced food insecurity in the U.S., according to the USDA. The Emergency Food Assistance Program, or TEFAP, helps bridge the food gap for millions of families and individuals by moving nutritious foods from U.S. farmers to local food banks. But in recent years, TEFAP support has decreased as demand for food assistance has increased.  TEFAP and additional USDA foods received by the Feeding America network have dropped by more than 50% from 2020-2023—dropping from 3 billion pounds to less than 1.4 billion pounds per year. The Farmers Feeding America Act introduced by Reps. Andrea Salinas and Jimmy Panetta would strengthen TEFAP, a cornerstone of the charitable food system, and ensure equitable access to the program for noncontiguous states. We urge Congress to ease the strain on our nation’s food banks by including this crucial provision in the upcoming Farm Bill,” said Vince Hall, Chief Government Relations Officer, Feeding America.

    “Families and children are facing tough times right now. More than ever, our community needs the Farmers Feeding America Act to make sure children and families have the food they need to thrive,” said Rick Gaupo, President & CEO, Marion Polk Food Share.

    Second Harvest Santa Cruz County CEO Erica Padilla Chavez: “With food insecurity on the rise in our community and food prices continuing to climb, the need to support the Farmers Feeding America Act has never been more urgent.  It is critical that our federal government not only address hunger but also sustains our local agriculture – an essential part of both our economy and our hunger relief efforts.”

    Leslie Bacho, CEO, Second Harvest of Silicon Valley: “The Farmers Feeding America Act is a practical solution that bridges communities—connecting local farmers with families in need and strengthening our food system. In Silicon Valley, where the cost of living is among the highest in the nation and 1 in 6 of our neighbors turn to Second Harvest of Silicon Valley for food assistance, we see this urgent need firsthand every day. At a time when the need for food assistance touches every community, this legislation affirms a shared commitment to ensuring no one goes hungry. Investing in TEFAP is not just about feeding families; it’s about reinforcing the resilience and well-being of all our communities.”

    To read the full text of this legislation, click here. 

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    MIL OSI USA News –

  • MIL-OSI Africa: African Medical Centre of Excellence (AMCE) Opens its Doors to the Public as it Seeks to Transform Healthcare in Africa

    Source: Africa Press Organisation – English (2) – Report:

    ABUJA, Nigeria, June 5, 2025/APO Group/ —

    The African Medical Centre of Excellence (AMCE) officially opened today, marking a historic milestone in Africa’s journey towards healthcare sovereignty. The US$300 million tertiary medical facility, developed by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in partnership with King’s College Hospital London, welcomed His Excellency President Bola Ahmed Tinubu as guest of honour, represented by His Excellency, Senator Kashim Shettima, Vice President of the Federal Republic of Nigeria, alongside high-ranking Government and private sector officials, including the Minsters of Health, Finance, and Foreign Affairs, Nigeria Customs Services, Nigeria Immigration Services, Nigerian National Petroleum Corporation Limited (NNPCL) and Bank of Industry (BOI), among others.

    Located in Abuja and designed to meet the highest global standards, AMCE Abuja offers world-class services across oncology, haematology, cardiology, and general medical services. More than a hospital, the facility represents a bold statement of Africa’s determination to reduce dependence on foreign health systems and reverse the estimated US$6-10 billion Africans spend annually seeking treatment abroad.

    The opening of AMCE Abuja comes at a critical time, as Africa seeks to strengthen its healthcare systems and reduce reliance on external providers. The COVID-19 pandemic exposed the vulnerabilities of this reliance, with global supply shortages putting immense pressure on African nations. Similarly, past responses to health crises like Ebola have reinforced the urgent need for resilient, homegrown solutions. Decades after independence, millions of Africans continue to suffer from diseases like sickle cell and malaria, conditions that could be better managed with targeted local research and investment. Yet these illnesses often receive limited global attention or funding, leaving critical treatment gaps. AMCE Abuja represents a bold step forward, bringing world-class care to the continent, centering African health priorities, and laying the groundwork for a healthier, more self-reliant future. In strategic partnership with Bank of Industry (BOI), and Nigerian National Petroleum Corporation Limited (NNPCL), AMCE reflects what’s possible when African institutions unite with shared purpose.

     “Today, we are not merely unveiling a building, we are making a bold, collective statement: we will no longer accept medical vulnerability as destiny. The African Medical Centre of Excellence stands as proof that Africa is ready to compete with the best in global healthcare. I commend Afreximbank and its visionary President, Professor Benedict Oramah, and salute the partnership with King’s College Hospital for turning this audacious dream into reality. This is what happens when African institutions confront African challenges with African solutions.

    “Over the past two years, we have taken deliberate steps to transform Nigeria’s health sector—from unlocking the healthcare value chain through the Presidential Initiative (PVAC), to expanding pharmaceutical production, regulatory systems, and diagnostic access, and securing over $2.2 billion in new investments through the Nigeria Health Sector Renewal Initiative. But excellence must be sustained. That’s why we’re investing in the roads, power, and connectivity that enable great institutions to thrive. With the largest stem cell lab in West Africa and plans for a medical school, this Centre is more than a hospital, it is a place to heal the sick, and to train the future.” — H.E. Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, represented by H.E. Senator Kashim Shettima, Vice President of the Federal Republic of Nigeria

    Commenting on the momentous achievement, Prof. Benedict Oramah, President and Chairman of the Board of Directors of both Afreximbank and AMCE, thanked the Federal Government of Nigeria for providing the land on which the AMCE stands, adding: ” In 2013, I had my own close call when I became seriously ill and was evacuated to King’s College Hospital in London, where a frantic battle to save my life ensued. Being here today is a testament to the power of cutting-edge medical research, clinical knowledge, and a solid healthcare ecosystem. The event we mark today is proof that society is better off saving lives than burying its dead, and that it is a living person who can contribute to development and social transformation. This experience led me to conclude that one of the major contributions I could make to Africa was to help Afreximbank deliver on its health and medical strategy in every way possible. Our vision for the African Medical Centre of Excellence is not just to provide top-notch healthcare but to serve as a catalyst for the transformation of the African health sector, making a bold statement to the world that Africa is finally taking its destiny into its own hands in healthcare sovereignty and global standards.”

    President Oramah also announced the launch of the Africa Life Sciences Foundation to act as the vehicle for mobilising appropriate risk capital to drive research efforts and called on African and non-African governments, banks, high net worth individuals and corporate organisations to join the Bank in investing in the hospital, through this platform.

    Brian Deaver, Chief Executive Officer of AMCE, highlighted the facility’s comprehensive approach: “Today, we don’t just open a hospital—we launch a healthcare revolution for Africa. AMCE represents a paradigm shift in how specialised medical care is delivered on the continent. Our integrated model encompasses early diagnosis, advanced treatment, and long-term disease management, creating a seamless continuum of care that improves patient outcomes and health experiences.”

    He added: “Our mission extends beyond treatment to include world-class medical education, groundbreaking research, and continuous innovation. By combining international expertise with local talent development, AMCE will build sustainable healthcare capacity that serves generations to come.  

    AMCE’s opening signals a new era for Africa — one in which self-reliance replaces dependency, and world-class care is no longer the privilege of a few but the standard for many. By anchoring healthcare delivery, talent development, and innovation on the continent, AMCE is not just stemming the outflow of medical dollars, but redefining Africa’s place in the global health ecosystem.

    Through its clinical partnerships with King’s College Hospital, London and The Christie NHS Foundation Trust, AMCE will be home to advance research, education, and medical excellence by fostering continuous knowledge exchange. In its next phase, AMCE will expand to include a second 350-bed hospital, medical and nursing schools, a medical sciences foundation, research centres, and residential facilities. Together, this integrated ecosystem will position Nigeria as a leading hub for specialist healthcare, medical training, and clinical research on the continent.

    Professor Clive Kay, Chief Executive Officer of King’s College Hospital NHS Foundation Trust said, “We are proud to partner with Afreximbank on this important initiative. The African Medical Centre of Excellence represents a positive step forward, and by bringing together world-class clinical standards, training, and research, we aim to share our expertise and support the development of a sustainable model of care that responds directly to the needs of African patients”.

    Now open, AMCE welcomes patients, healthcare professionals, researchers, and partners to join its mission of delivering world-class healthcare, fostering innovation, and building a healthier, more self-reliant Africa. AMCE is the largest specialised private hospital in Nigeria and West Africa focusing on cardiovascular services, haematology, comprehensive oncology, and general medical services. It currently boasts of 170 beds with a plan to expand this to 500 beds upon completion. It features the largest stem cell laboratory in the region, fifteen post stem cell isolation rooms in West Africa alongside five theatres and three catheterisation laboratories. It also features a 20 bed intensive care unit, six critical care unit beds and 20 chemotherapy chairs with compounding pharmacy among others. Some of the specialised equipment in Nigeria and the region are exclusively hosted by AMCE Abuja. They include the 18 Mev cyclotron, 3 Tesla Magnetic Resonance Imaging, 256 slices computed tomography, brachytherapy machine with iridium source, 4 biosafety cabinets and 128 slices computed tomography machines, among others. 

    MIL OSI Africa –

  • MIL-OSI Security: Charleston Woman Pleads Guilty to Role in COVID-19 Fraud Conspiracy

    Source: US FBI

    CHARLESTON, W.Va. – Damisha Brown, 32, of Charleston, pleaded guilty today to conspiracy to commit bank fraud. Brown received $15,625 in proceeds from a criminally derived Paycheck Protection Plan (PPP) loan, guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

    According to court documents and statements made in court, co-defendant Kisha Sutton conspired with Brown and others to obtain fraudulent PPP loans. Sutton submitted a PPP loan application on Brown’s behalf on April 25, 2021. The application listed Brown as a sole proprietor hair dresser who received $75,000 in gross income in 2020. The application was filed with an Internal Revenue Service (IRS) Form 1040, Schedule C Profit or Loss from Business, stating that the applicant had earned $75,000 in 2020. As part of her guilty pleas, Brown admitted that she never earned $75,000 as a hair dresser in one year and that the IRS Form 1040 submitted with her application was fraudulent and created solely to obtain the PPP loan.

    A PPP lender in California approved Brown’s loan application. The $15,625 in loan proceeds was deposited in Brown’s personal bank account on April 30, 2021. Brown admitted that she knew the $15,625 represented proceeds from the fraudulent PPP loan. Between April 30 and May 27, 2021, Sutton received $3,500 from Brown as her share of the fraudulent PPP loan proceeds. Brown transferred the money to Sutton using a digital wallet application. Brown admitted that she transferred the $3,500 as Sutton’s compensation for facilitating the submission of her fraudulent loan, in keeping with their agreement. Brown further admitted that she spent the remainder of the loan proceeds on ineligible personal expenses.

    The CARES Act made forgivable PPP loans available to qualifying sole proprietors, independent contractors and self-employed individuals adversely impacted by the COVID-19 pandemic, to replace their normal income and for certain other eligible expenses. Applicants were required to certify that they were in operation on February 15, 2020, and provide documentation showing their prior gross income from either 2019 or 2020.

    Brown is scheduled to be sentenced on October 2, 2025, and faces a maximum penalty of 30 years in prison, up to five years of supervised release, and a $1 million fine. Brown also owes $12,125 in restitution.

    Brown and Sutton, 44, of Jersey City, New Jersey, are among seven individuals indicted by a federal grand jury on charges alleging they and others conspired, as well as aided and abetted one another, to obtain fraudulent PPP loans totaling $140,625. On March 25, 2025, co-defendant William Powell pleaded guilty to conspiracy to commit bank fraud and co-defendant Jasmine Spencer pleaded guilty to aiding and abetting bank fraud. Powell, 35, of Huntington, and Spencer, 32, of Charleston,  are scheduled to be sentenced on July 9, 2025. The indictment against Sutton and the other defendants remains pending. An indictment is merely an allegation and all defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

    Acting United States Attorney Lisa G. Johnston made the announcement and commended the investigative work of the Federal Bureau of Investigation (FBI), the West Virginia State Police – Bureau of Criminal Investigation (BCI), and the West Virginia State Auditor’s Office (WVSAO) Public Integrity and Fraud Unit (PIFU).

    United States District Judge Irene C. Berger presided over the hearing. Assistant United States Attorneys Jonathan T. Storage and Jennifer D. Gordon and former Assistant United States Attorney Holly Wilson have prosecuted the case.

    Individuals with information about allegations of fraud involving COVID-19 are encouraged to report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721, or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 2:24-cr-192.

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    MIL Security OSI –

  • MIL-OSI Global: Why Canada needs a law that gives workers the right to govern their workplace

    Source: The Conversation – Canada – By Tom Malleson, Associate Professor of Social Justice & Peace Studies, Western University

    Democratic worker co-operatives are workplaces where workers collectively own the firm and elect the governing board. (Shutterstock)

    A major fault line in contemporary society is that while our political lives are governed by democratic principles, our economic lives largely are not.

    At the height of the COVID-19 pandemic, for example, Maple Leaf Foods experienced an outbreak in its Brandon, Man. factory. Not only were workers ordered to keep working in unsafe conditions, they were forced to work overtime.

    Walmart has long been accused of forbidding its cashiers from sitting down, even during long shifts.

    At one of its warehouses in Pennsylvania, Amazon allowed the temperature to reach an unbearable 102 F in 2011. When employees pleaded to open the loading doors to let in fresh air, management refused, claiming this would lead to employee theft. Instead, Amazon parked ambulances outside and waited for employees to collapse from heat stroke. Employees who were sent home because of the heat were given demerits for missing work, and fired if they accumulated too many.

    These examples reflect the fact that, in most workplaces, employees have no say in who manages them or how major decisions are made. Entering the workplace typically means leaving the freedoms of democratic society behind and entering a private domain unilaterally controlled by an employer. For most workers who are not in senior management, the main job of every job is to follow orders. Functionally speaking, workers are servants.

    In its governance structure, the modern workplace operates as a kind of mini dictatorship. Although workplace discipline isn’t enforced with physical violence, supervisors still have the power to discipline or punish those who dissent.

    But what if there were an actual legal right to workplace democracy?

    My research scrutinized the pros and cons of such novel legislation by drawing on decades of research comparing conventional, top-down firms with democratic worker co-operatives (where workers collectively own the firm and elect the governing board).

    Why workplace democracy matters

    In large American firms, the average CEO-to-worker pay ratio is now a jaw-dropping 351 to one. As CEO, Jeff Bezos made roughly 360,000 times more than Amazon’s minimum wage workers. This inequality ripples across society with significant consequences.

    By contrast, most worker co-ops maintain a pay ratio of three to one and only very rarely exceed 10 to one.

    There’s also a stark difference in how workers are treated. While conventional firms lay off workers whenever it’s profitable to do so, co-ops do everything in their power to save jobs.

    Top-down decision-making also breeds degradation and disrespect. A 2016 Oxfam report, for instance, documented how some Tyson Foods employees were prevented from using the bathroom to the point where some urinated themselves and other felt compelled to wear diapers to work.

    A Gallup survey from 2021 found that across the American economy as a whole, only 20 per cent of workers strongly agreed with the statement that “my opinions seem to count.”

    In co-ops, workers are generally treated with more respect and dignity. They typically participate more in decision-making, have higher job satisfaction and have less antagonism with management.

    In conventional workplaces, many employees hate or fear their boss. Roughly 17 per cent of the workforce opt for self-employment in order to get away from the tyranny of the boss, even though self-employed workers typically earn about 15 per cent less than their salaried counterparts and receive less than half the benefits.

    Worker co-operatives are typically less dominating than conventional firms because workers elect their managers and can create self-managing teams where workers have more autonomy over matters like scheduling and how tasks are carried out. Though co-ops are far from perfect, with workers often feeling that they aren’t able to participate in decision-making as much as they would like.

    Most workers are trapped in undemocratic jobs

    Most workers have no viable alternative to undemocratic work, and so no choice but to suffer its harms. While in theory, workers can quit and rely on welfare or social assistance, in practice, this isn’t viable because welfare rates are often too low to live on.

    Starting a business or becoming self-employed is another theoretical option, but it’s too financially risky to be a serious alternative for most.

    Joining a worker co-operative is the most promising alternative, but there were less than 400 worker co-ops in Canada in 2022, representing less than one per cent of employment.

    Converting an existing workplace into a co-op faces serious barriers too. Even if the workers desperately want a conversion, if the employer doesn’t, they’re out of luck; their employer owns the organization and can simply say no.

    So what’s the solution?

    Canada needs a new law to expand democracy by granting workers the legal right to collectively buy into the firms they work for. The process would resemble how unionization works today.

    It would start after a majority of employees sign a declaration stating their intent to form a worker co-operative. After this threshold is reached, a formal process would be triggered: employers would be required to disclose all relevant financial documents with the workers, and workers would receive education on the managerial, technical and legal requirements of co-ops. Co-op development bankers would provide loans and financing options.

    Once this is done, workers would hold a final vote. If a simple majority (50 per cent plus one) votes in favour, the employer would be paid the fair market value for the firm and the business would be restructured as a worker co-operative.

    Importantly, the law would allow this transition even if the employer is opposed, just as collective bargaining legislation allows workers to unionize without employer approval. It would also ensure owners are fairly compensated; owners shouldn’t lose their property, but they should lose the right to unilaterally govern other human beings in perpetuity, especially when those others are willing and ready to govern themselves.

    Of course, this law might bring some economic disruption. It’s possible that certain owners might oppose democratic ownership so strongly that they would rather shut down the business altogether than work as equals, but such cases would likely be rare.

    On the other hand, research shows that worker co-ops are just as productive as conventional firms (if not more so) and they have similar survival rates. This is highly reassuring for the overall well-being of the economy.

    Moreover, workers would need to invest significant amounts of their own money in order to buy out the firm, so conversions will occur only after serious consideration.

    The bottom line is that while the costs of this legislation would likely be modest, the benefits to workers and society at large would be substantial: reduced inequality and domination, increased job security and respect. Canada should establish a right to buy-in as soon as possible.

    Tom Malleson has received funding from the Social Sciences and Humanities Research Council.

    – ref. Why Canada needs a law that gives workers the right to govern their workplace – https://theconversation.com/why-canada-needs-a-law-that-gives-workers-the-right-to-govern-their-workplace-257776

    MIL OSI – Global Reports –

  • MIL-OSI Global: Four myths about ‘low-skilled’ migration busted

    Source: The Conversation – UK – By Gabriella Alberti, Professor of International Labour Migration, University of Leeds

    1000 Words/Shutterstock

    The UK government has outlined plans to reduce low-skilled migration to the country. A central aspect is linking skills and training to the immigration system. This, so the thinking goes, will mean that no industry is able to rely on immigration to fill skills gaps.

    Research I carried out with colleagues on employer strategies in the wake of Brexit shows that pitting legal routes for migrant workers against investment in the local workforce is based on flawed assumptions.

    Evidence from sectors historically reliant on migration, such as transport and storage, food manufacturing, hospitality and social care, debunks four myths about migration and the labour market that underpin the government’s immigration plans.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Myth 1: migration and training

    Under-investment in skills by both employers and the state is a long-term issue of the UK deregulated economy. But the idea that employers hire migrants instead of training local workers is, to say the least, contested.

    Our research shows that migration can benefit workplace learning and incentivise employers to invest in training. We undertook a survey of employers’ practices after Brexit. Firms investing more in training, or seeking diverse workforces, tended also to be those (usually larger firms) that have financial and HR capacity to deal with migration hurdles. For small and medium-sized enterprises (SMEs) especially, this system remains costly and bureaucratic.

    Previous research showed that employers that hired migrant workers after Brexit were also more likely to invest in the domestic workforce, or in technology. The government should view the recruitment of migrants as “supplementing, not supplanting” the domestic labour force.

    Myth 2: migrants v inactive youth

    The government’s plans, as well as other narratives, tend to play migrants against NEETs (young people who are not in education, employment or training). This suggests that the growing number of these young people is caused by employers using “low-skilled” migration.

    Engaging economically inactive people and complying with a workforce strategy that prioritises training local workers are set out as strict conditions for employers hoping to recruit from abroad. Yet the theory of replacing migrants with economically inactive people is a simplistic equation.

    One main finding of our research is that young people often refuse to work in these sectors because of poor conditions rather than because employers favour migrants. Our survey found that, despite marginal pay increases and other benefits to deal with staff shortages, pay across the four sectors remains benchmarked at the minimum wage.

    This fuels high staff turnover, intensive work and insecure contracts. These factors often make the jobs unattractive. But by introducing fair pay agreements in the care sector and by financially supporting local authorities and care providers, it should be possible to attract young people.

    Improving pay and conditions must be a priority, rather than closing the care worker visa, which could be devastating for the sector.

    Myth 3: temporary migration is a sustainable option

    The government proposes raising the skills threshold and including a “temporary shortage list”. For occupations with a skills requirement below degree level, employers will be able to use the immigration system only temporarily. This is not a substantive change from the occupational temporary schemes and tweaks to the skilled worker visa by the previous government.

    Our research shows that allowing migrants entry only through a limited number of schemes has led to the crowding of visa applications into one route (for example, the care worker visa). This contributed to abuse of the system, the proliferation of bogus employers and exploitative practices.

    Our research with migrant care workers who lost their sponsoring employer highlighted barriers to finding a new sponsor. Only a small number of care providers can guarantee full-time employment.

    Overall, reactive and temporary visa schemes have proven to be negative for both workers and businesses. This is confirmed by research on seasonal migration in other sectors like agriculture.

    Only a migration system that allows workers to stay and thrive in their jobs, bring their dependants and build stable lives can reduce labour turnover. This in turn can improve productivity and lead to a long-term workforce strategy.

    Myth 4: migration damages the economy

    The government’s newly unveiled immigration system risks putting the brakes on its plan for growth. Ministers have based their new plan on the assumption that increased net migration damages the UK, referring to the decrease in GDP per capita during the increase in net migration as a measure.

    But there is plenty of evidence that leaving the European common market and external shocks like the COVID pandemic and war in Ukraine have been the cause of UK economic decline. It recorded one of the largest slowdowns in productivity among the G7 in 2023.

    In contrast, our research shows that migrants are vital not just in sectors like social care, but also in those considered “low-skilled” by the government. Workers in logistics, hospitality and food manufacturing were treated as “essential” during COVID but soon forgotten and then apparently relegated to “low-value”.

    Once upon a time they were heroes.
    Lubo Ivanko/Shutterstock

    Our research calls for a re-evaluation of these foundational sectors, as they represent the backbone of industries considered pivotal by the government’s own industrial growth strategy.

    For a joined-up approach to be truly effective, employers associations, trade unions and migrant advocacy groups, together with national and local governments must contribute to longer-term migration plans. These should consider industry needs, migrant workers’ wellbeing as well as the viability of public services and other critical sectors affected by stricter migration requirements if numbers continue to decline.

    Telling firms they need to invest in the local workforce before they can hire from abroad appears blind to the reality. Training is not a quick fix, it requires time and investment from employers and the state. And ultimately, improved pay and working conditions are likely to make these sectors more attractive to the local population.

    Gabriella Alberti receives funding from the UKRI

    – ref. Four myths about ‘low-skilled’ migration busted – https://theconversation.com/four-myths-about-low-skilled-migration-busted-258046

    MIL OSI – Global Reports –

  • MIL-OSI USA: Governor Newsom statement on court ruling restoring AmeriCorps funding

    Source: US State of California Governor

    Jun 5, 2025

    SACRAMENTO – Governor Gavin Newsom issued the following statement today after a federal judge ruled that the Trump administration must restore funding to AmeriCorps in California. This comes after Governor Newsom, Attorney General Rob Bonta and a coalition of states sued the Trump administration over DOGE efforts to dismantle AmeriCorps – the federal agency vital to supporting volunteer and service efforts in California and across the country. 

    Commonsense has prevailed over cruelty. The court is rightly siding with volunteers and service workers. Today, we’re doing right by John F. Kennedy and Sargent Shriver and all those who put others before themselves.

    Governor Gavin Newsom

    In 2024, at least 6,150 California members served at more than 1,200 locations, including schools, food banks, homeless shelters, health clinics, youth centers, veterans’ facilities, and other nonprofit and faith-based organizations. When the devastating fires struck Los Angeles earlier this year, AmeriCorps members were on the ground, distributing supplies and supporting families. The agency’s shutdown ends these efforts.

    California Service Corps is the largest service force in the nation, consisting of four paid service programs:   

    Combined, it is a force larger than the Peace Corps and is mobilized at a time when California is addressing post-pandemic academic recovery, rebuilding from the LA fires and planning for the future of the state’s workforce. 

    In the 2023-24 service year, AmeriCorps members in California: 

    • Provided 4,397,674 hours of service
    • Tutored/mentored 73,833 students
    • Supported 17,000 foster youth with education and employment 
    • Planted 39,288 trees

    Members helped 26,000 households impacted by the LA fires and packed 21,000 food boxes.

    Press releases, Recent news

    Recent news

    Jun 5, 2025

    News What you need to know: California is launching the CalAssist Mortgage Fund on June 12, 2025, to provide $105 million in relief offering up to $20,000 to homeowners whose homes were destroyed in recent disasters, including the Los Angeles firestorms. LOS ANGELES —…

    Jun 4, 2025

    News What you need to know: California added a record of nearly 7,000 megawatts of new clean energy capacity in 2024, marking the largest single-year increase in state history and the third consecutive year of unprecedented growth. SACRAMENTO – California has achieved…

    Jun 4, 2025

    News What you need to know: California leads the nation in strong gun safety laws, correlating with thousands of lives saved. Sacramento, California – Year after year, California is ranked as the #1 state in the country for its strong gun safety laws — along with some…

    MIL OSI USA News –

  • MIL-OSI: Free Psychic Reading Online | Free Psychic Chat with Real Psychics Online – Special 2025 Announcement

    Source: GlobeNewswire (MIL-OSI)

    San Francisco, CA, June 05, 2025 (GLOBE NEWSWIRE) — Are you curious about your future, love life, or career path but not ready to commit to a paid session? With a free psychic reading online, you can now connect with experienced and compassionate free psychics who offer genuine insights without any upfront cost. Whether you want to ask a free psychic question, explore your destiny by birth date, or dive into matters of the heart, there are now many trusted platforms where you can receive intuitive guidance—completely risk-free.

    ⇒ Connect with trusted advisors for a free psychic reading session!

    You deserve answers, healing, and spiritual clarity. Whether you need a free psychic reading online with no credit card, a birth-based psychic reading, or simply want to ask a free psychic question, now is the perfect time to begin your journey.

    The-Psychic-Experts.com, a trusted authority in spiritual services, proudly announces a new global initiative offering free psychic readings online via live chat or phone. Launching this month, this effort marks a major step forward in the platform’s mission to make genuine, risk-free spiritual guidance more accessible and inclusive for people seeking clarity in love, career, health, or life purpose.

    ⇒ Free psychic chat with certified readers — available now

    The internet is full of spiritual services, but not all are equal. To get the most value from your free psychic reading, stick with platforms that offer free psychic chat, clear advisor profiles, and real testimonials. This provides a safe and insightful experience from the outset.

    Whether you want to ask a free psychic question about a soulmate connection, your next big life decision, or emotional healing, these newly listed services are designed to deliver insightful, real-time answers. Even better, some highly rated readers provide free psychic chat with no credit card required, a rare and welcome benefit in today’s digital spiritual marketplace.

    Each listed psychic on the psychic expert’s platform is thoroughly evaluated for accuracy, authenticity, user testimonials, and spiritual specialization. Options include free psychic readings by date of birth and time, astrology-based predictions, tarot interpretations, and mediumship sessions. This 2025 release ensures that users can confidently connect with a real psychic, not an automated system or generic script, for meaningful and personalized spiritual guidance.

    ⇒ Try a real psychic chat for free — no risk, just answers

    Why Choose a Free Psychic Chat?

    Many people hesitate to seek spiritual advice due to concerns over cost or skepticism about accuracy. That’s where free psychic chat options shine. These services allow you to connect instantly with a psychic via live chat and ask your most pressing questions, without needing a credit card.

    Benefits of free psychic chat include:

    • Instant access to real psychics online
    • No financial risk or commitment
    • Discreet, private conversations
    • Fast answers to your questions

    Whether you’re new to psychic readings or just want to test a new advisor, this format lets you experience the energy of the reading before deciding to continue.

    ⇒ Receive personalized insight with free psychic chat now

    Ask a Free Psychic Question About Love, Career, or Life Purpose

    Wondering whether your partner is “the one”? Confused about a job opportunity? Feeling stuck and unsure about what comes next?

    You can ask a free psychic question on topics like:

    • Love & relationships
    • Family & friendship
    • Career direction
    • Personal growth
    • Financial energy
    • Spiritual purpose

    Many free psychics specialize in areas like free psychic love reading, helping you find clarity and comfort when emotions feel overwhelming.

    ⇒ Discover your soulmate path with a free psychic love reading

    Free Psychic Reading by Date of Birth and Time

    For deeper insight, many online psychics offer free psychic readings by date of birth and time. These personalized readings blend astrology and intuition to reveal:

    • Life path challenges and gifts
    • Relationship compatibility
    • Career destiny
    • Timing of major life events

    These birth-based readings are especially helpful if you’re facing crossroads in life and want guidance rooted in your cosmic blueprint.

    ⇒ Find clarity with a free psychic reading by date of birth and time

    Free Psychic Reading Online – No Credit Card Needed

    Unlike many platforms that require payment details before giving you any insight, select services offer a free psychic reading online, no credit card required. This ensures a truly commitment-free experience while letting you explore if the psychic connection resonates with you.

    Look for trusted directories that feature:

    • Verified psychic profiles
    • Ratings and testimonials
    • Free minutes or introductory chat sessions
    • Easy, instant connection

    ⇒ Get real clarity fast with a psychic reading at no cost

    Free Psychic Love Reading: Find Clarity and Connection

    Love is one of the most common topics people ask psychics about—and for good reason. Emotions can be intense, timing can be confusing, and sometimes we just want reassurance.

    A free psychic love reading can offer guidance on:

    • Soulmate energy
    • Twin flame dynamics
    • Relationship challenges
    • Future romantic possibilities
    • Past life connections

    Whether you’re healing from heartbreak or starting something new, these love readings offer emotional clarity when you need it most.

    ⇒ Get trusted love advice from free psychics today

    Why Free Psychic Readings Are in High Demand in 2025

    As the world emerges from a decade marked by turbulence, transformation, and technological disruption, one quiet but powerful trend has taken hold across generations: a renewed search for spiritual meaning. In 2025, free psychic readings have become one of the most sought-after tools for individuals hoping to gain clarity, purpose, and emotional balance. Whether driven by curiosity, heartache, or uncertainty, millions turn to a free psychic reading as their first step toward more profound understanding.

    ⇒ Love, destiny, and clarity await — start free psychic chat now

    Spiritual Curiosity in the Post-2020s Era

    The last few years have seen an undeniable cultural shift toward introspection. Following the collective trauma of a global pandemic, economic uncertainty, and significant geopolitical change, people have sought answers beyond traditional logic or material success. According to spiritual trend analysts, 2025 has seen record levels of interest in tarot, astrology, mediumship, and intuitive coaching, especially online.

    In this environment, free psychic reading online services have flourished. For newcomers, these free sessions offer a safe, low-pressure way to explore metaphysical guidance without financial obligation. For those already attuned to spiritual practices, a free psychic reading offers a chance to sample different readers and modalities before committing to a more in-depth session.

    ⇒ Chat live with psychics who truly care — free today

    The Cost Barrier of Premium Readings

    One of the key drivers behind the surge in free psychic consultations is the rising cost of premium sessions. Accurate psychic readers — particularly those with a strong following or years of experience — often charge rates ranging from $5 to $15 per minute or more. While this pricing may reflect the value of their service, it can be a significant barrier for those facing financial hardship or exploring spiritual guidance for the first time.

    That’s where a free psychic reading becomes an empowering alternative. By offering initial sessions at no cost, platforms like the psychic experts are helping democratize access to this ancient practice. Users can now test the waters with a free psychic question, receive a few minutes of clarity via free psychic chat, or speak to a real psychic by phone — all without swiping a credit card.

    ⇒ Receive insight and healing with a free psychic reading

    Accessibility Through Technology

    Another major factor fueling this demand is accessibility. Thanks to mobile apps, text platforms, and secure chat portals, psychic guidance is no longer confined to candle-lit rooms or in-person appointments. The emergence of free psychic chat and free psychic reading online services has enabled users from any location — urban or remote — to get spiritual support within minutes.

    This shift is especially valuable for individuals who may feel nervous about speaking to a psychic in person. Chat and phone services allow users to remain anonymous, reducing anxiety and fostering more open conversations. Data shows that users are often more likely to ask a free psychic question honestly and directly through chat than in a face-to-face setting.

    ⇒ Get a trusted free psychic reading without a credit card

    The Psychology of Asking a Free Psychic Question

    There’s also a deeper psychological appeal to asking questions about the unknown. In moments of confusion, asking a question—even a small one—provides the illusion of control. It’s a way to anchor oneself to possibility, hope, and answers that may not come from within.

    That’s why a free psychic question holds such power. It’s not just about the information you receive — it’s about reaching for it. Whether you’re wondering if your ex will return, if you’re on the right career path, or if you’re blocking your blessings, simply voicing your question can be cathartic and illuminating.

    With the stigma around spiritual services fading fast, 2025 is shaping up to be the year when free psychic readings become as normal as therapy or self-help books. From Gen Z to Boomers, people realize there’s no harm in asking a free psychic question — and in fact, it may just be the beginning of a meaningful journey.

    ⇒ Free psychic reading now live — discover your destiny

    How The Psychic Experts Evaluate Free Psychic Reading Platforms

    Not all psychic platforms are created equal in the ever-expanding world of online spiritual services. That’s why The-Psychic-Experts.com has built one of the most trusted, independent evaluation systems for identifying the most recommended free psychic readings available online. With thousands of websites claiming to offer real insight, clarity, and connection, the team behind The-Psychic-Experts.com works tirelessly to separate genuine spiritual guidance from vague, automated responses.

    The result? A carefully curated, annually updated list of free psychic reading platforms that users can trust.

    ⇒ Ask anything in a free psychic reading — love, work, more

    Strict Editorial Standards and Testing

    Every platform featured on The-Psychic-Experts.com goes through a thorough multi-step internal checking process designed to test for accuracy, transparency, and overall user experience. It includes secret-shopper style evaluations where trained team members request a free psychic reading by date of birth and time to measure how precise and personalized the answers are.

    Testers often ask complex or emotionally charged questions to see if the psychic is attuned to more than just general advice. Responses are then scored on relevance, empathy, and whether the psychic provides actionable insights. Platforms that rely heavily on vague, cookie-cutter replies are immediately removed from consideration.

    ⇒ Discover real guidance through live psychic chat

    No Credit Card = No Gimmicks

    One of the most essential standards in the the-psychic-experts.com evaluation process is whether the platform offers free psychic readings, without forcing users to enter credit card details.

    While many sites advertise “free” readings, they often require users to sign up for a subscription or provide payment information upfront. These bait-and-switch tactics can create mistrust and leave people feeling scammed.
    The platforms recommended by The-Psychic-Experts.com highlight psychic services that allow for at least one initial free psychic session, often via chat or phone, with no billing details required. It makes it easier for first-time users to explore their spiritual questions risk-free.

    ⇒ Start Free psychic chat online now — no card, just clarity

    Evaluating Reading Types and Specializations

    Not all psychic readings are the same, and the editorial team considers this during evaluation. Readers on the platform are assessed for the types of readings they offer, including free psychic love reading, mediumship, tarot, astrology, numerology, clairvoyance, and energy healing.

    This variety is significant because not every question fits neatly into one modality. A user seeking romantic advice may benefit most from a love psychic or tarot reader, while someone dealing with grief may need a medium who can connect with passed loved ones. Free psychic reading by date of birth and time may appeal to astrology-focused seekers. The leading platforms provide access to a broad spectrum of reading styles.

    Each reader is tested for communication skills, clarity, and the ability to make users feel safe. A psychic might have talent but lack compassion — or vice versa. Only those who excel at spiritual insight and empathetic delivery are considered highly rated.

    ⇒ Experience a free psychic chat that feels personal and real

    Internal QA

    The psychic experts don’t just rely on staff evaluations. The site also collects thousands of real-user testimonials to verify consistency and satisfaction across a broad user base. Comments are analyzed for patterns, such as repeated praise for emotional accuracy, relationship guidance, or intuitive timing.

    All feedbacks are vetted through an internal QA process to ensure authenticity and eliminate paid or spam submissions. This approach helps build long-term credibility and keeps the annual rankings relevant and trustworthy.

    By combining professional testing, real-world feedback, and a commitment to ethical standards, the psychic experts ensure that users receive guidance from only the most accurate, accessible, and genuinely free psychic resources available in 2025.

    ⇒ Connect instantly via free psychic chat and feel the difference

    Types of Free Psychic Readings Available Online in 2025

    In 2025, free psychic readings have become more accessible, personalized, and diverse. With spiritual wellness now a significant trend among millennials, Gen Z, and even Gen X, millions seek clarity from intuitive advisors, primarily through free online psychic readings. The growing number of platforms and services means users can now explore many different types of spiritual guidance before deciding on a long-term advisor.

    ⇒ Connect now for a real and accurate free psychic reading!

    So, what kinds of free psychic readings are most popular, and which are typically offered as part of free trials? Below, the-psychic-experts.com breaks down the most popular types of psychic readings users can explore at no cost in 2025.

    1. Free Psychic Love Reading

    By far the most requested service across psychic platforms, free psychic love readings remain the leading choice for users seeking relationship answers. Whether it’s “Will they come back?”, “Are we soulmates?”, or “Should I move on?” — love questions dominate psychic chat rooms and phone sessions.

    Platforms offering a free psychic love reading typically provide a few minutes or allow users to ask a free psychic question about their romantic life. These readings often tap into tarot, energy reading, or clairvoyance to explore emotional compatibility, karmic connections, and future possibilities.

    Why it’s offered: Love is the #1 gateway topic. If a psychic can connect with a user emotionally on this front, there’s a strong likelihood the user will return for paid sessions.

    ⇒ Find the guidance you seek in a free psychic love reading

    2. Career Forecasts

    Another common request in 2025 is professional guidance. Career-focused readings address decisions around job changes, workplace conflicts, entrepreneurial goals, or overall life purpose. Many free psychic platforms now offer initial readings on career questions to help users identify their next steps.

    These include numerology, astrology, or intuitive impressions based on name and energy. Some sessions will ask for a birth date to connect deeper into the client’s vocational path.

    Why it’s offered: Career questions tend to lead to follow-up sessions, making it an attractive free trial option for platforms.

    ⇒ Ask one question for free and connect with a real psychic

    3. Tarot Card Pulls

    A classic and still one of the most reliable options for free and paid readings, tarot cards remain a staple in 2025. Many platforms offer a free psychic reading online using a three-card spread that touches on past, present, and future energies.

    Tarot is a favorite among users because it provides specific visuals, archetypes, and symbolism that can be interpreted intuitively or directly. It works for all questions, including love, career, and self-growth.

    Why it’s offered: Tarot sessions can be done quickly and are visually engaging, making them perfect for limited-time or single-question free psychic readings.

    4. Astrology and Birth Chart Readings

    Astrology continues to experience a renaissance, and free psychic reading by date of birth and time is one of the fastest-growing categories on psychic platforms. Some services allow users to input their birth details to receive a basic sun, moon, and rising analysis or a short synastry report (love compatibility).

    More advanced readers might offer brief insights into planetary transits or upcoming life themes in a 5–10 minute complimentary session.

    Why it’s offered: Astrology is extremely popular among Gen Z and Millennials. It’s also data-driven, making it easy to automate or semi-automate for mass trial sessions.

    ⇒ Ask a free psychic question and get instant insight

    5. Past Life Readings

    Past life readings offer fascinating insight for those curious about karma, reincarnation, and spiritual history. Some free trials allow users to ask, “Who was I in a past life?” or “Why do I feel connected to this person or place?”

    These readings often combine intuitive visions, energy work, and spiritual channelling to explore patterns affecting the user in their current life.

    Why it’s offered: It’s a unique hook that appeals to deeply spiritual users and often prompts follow-up interest.

    6. Yes/No Psychic Questions

    Sometimes users don’t want a full reading — they just want a straight answer. In 2025, many free psychic platforms now offer the ability to ask a free psychic question in a yes/no format. It’s ideal for time-sensitive or emotionally charged moments when clarity is critical.

    This format is commonly used via free psychic chat, where users type their yes/no question and receive a simple, immediate reply, often via tarot or intuition.

    Why it’s offered: It’s quick, scalable, and builds trust for deeper sessions.

    ⇒ Explore your future with a free psychic chat reading!

    What to Expect from a Free Psychic Chat or Call

    You’re not alone if you’re considering a free psychic chat or phone reading in 2025. Millions worldwide are turning to intuitive guidance for answers, clarity, and peace of mind — often beginning with a risk-free, no-obligation session. But how exactly does it work? What can you expect from the moment you sign up to when you ask a free psychic question?

    In this guide, the-psychic-experts.com walks you through a typical user experience with free psychic readings online, whether via chat or call, so you know exactly what to anticipate.

    Step 1: Signing Up — No Credit Card Needed

    One of the most appealing aspects of psychic platforms ranked by The-Psychic-Experts.com is that many offer free psychic readings online, with no credit card required. It means you can begin exploring your spiritual path without entering payment details or worrying about hidden charges.

    The signup process typically takes under 2 minutes:

    • You enter your name (can be a nickname)
    • Choose your preferred psychic or reading type
    • Optional: Add your birth date, gender, or location for a more tailored session
    •  Click “Start Free Chat” or “Call Now” to begin your session

    The highest quality services are transparent, private, and secure, ensuring your experience is safe and confidential.

    ⇒ Ask love and life questions with a free psychic reading

    Step 2: Choosing Your Psychic Reader

    Once inside the platform, you’ll browse a selection of available advisors. Each psychic reader has a profile page showcasing:

    • Specialties (love, career, tarot, astrology, etc.)
    • User experiences
    • Years of experience
    • Tools used (e.g., pendulum, oracle cards, clairvoyance)

    For a free psychic reading, look for psychics offering free minutes or an introductory question at no cost. Most allow at least one free psychic question before the session transitions to paid time.

    Step 3: Chat vs. Phone — What’s the Difference?

    Free Psychic Chat

    Chat readings are ideal for people who prefer privacy, written records, or thinking time. You can type out your questions, and your psychic will respond quickly. Many clients enjoy this format because:

    • It’s discreet — great for work breaks or late nights
    • You can scroll back and re-read answers
    •  It allows clearer, more intentional communication

    Chat is a good option for simple or emotionally sensitive questions you want to reflect on later.

    ⇒ Discover emotional clarity in a free psychic reading today!

    Free Psychic Call

    Phone readings offer more vocal nuance, which some say results in stronger intuitive connections. You’ll hear tone, pauses, and inflection, which can help your psychic pick up on your energy more naturally. Calls feel more spontaneous, warm, and conversational.

    Calls are often ideal when:

    • You want a fast-paced reading
    • You’re dealing with complex emotions
    •  You want to ask follow-up questions on the spot

    Step 4: Asking a Free Psychic Question

    When your session begins, the advisor may start with a brief introduction or ask your permission to connect with your energy. You’ll then type or say your question, such as:

    • “What is the energy around my relationship right now?”
    • “Is this job opportunity right for me?”
    •  “Will I hear from them again soon?”

    It is your moment to open up. The more precise and focused your question is, the more insightful your psychic’s response will be.

    ⇒ Chat online now with trusted psychics for free!

    Step 5: What a Real Reading Feels Like

    Contrary to the myths, real psychic readers do not make wild or scary predictions. Instead, they tune into your energy, spiritual guides, or symbolic tools (like tarot or astrology) to help reveal what’s hidden beneath the surface.

    Even in a digital format, real psychic abilities translate beautifully. Many report feeling chills, sudden emotional clarity, or strong resonance, even through a chat screen.
    Your reading may include:

    • Specific messages, images, or impressions
    • Advice on timing, direction, or emotional healing
    • Symbolic meanings from tarot or astrology
    •  Gentle validation for what you already intuitively know

    ⇒ Connect with an accurate psychic — no payment required!

    Benefits of Starting with a Free Psychic Reading

    With so many psychic services available online in 2025, it’s easy to feel overwhelmed or skeptical about where to begin. That’s precisely why the psychic experts recommend starting your journey with a free psychic reading. Whether you’re new to the spiritual space or looking to reconnect with your intuition, free readings offer a powerful, no-pressure entry point into the world of intuitive guidance.

    From building trust to exploring specialties, here’s why thousands are turning to free psychic sessions before committing to a longer consultation.

    1. It’s a Low-Risk Introduction for Beginners

    One of the most significant barriers to seeking a psychic is fear of being judged, scammed, or misled. A free psychic reading helps remove those worries. You can test the waters without handing over credit card details or committing to a long-term package.

    Free readings let you:

    • Experience how a real session feels
    • Gauge your comfort level with a reader
    • Observe the psychic’s style, tone, and accuracy
    •  Ask a meaningful question without financial commitment

    It’s the perfect way for first-timers to ease into spiritual self-discovery without pressure.

    ⇒ Chat with gifted psychics for your free psychic question!

    2. It Helps You Build Trust with a Psychic

    Trust is everything when working with a psychic. You’re opening up about sensitive areas of your life — from love and loss to career crossroads and health anxieties. If you’re going to be vulnerable, you need to feel safe.

    A free psychic chat session creates space to:

    • Assess whether the psychic is empathetic and grounded
    • See how they respond to your energy and concerns
    •  Ensure they don’t make outrageous claims or pressure you to pay

    Genuine psychics are focused on helping, not selling. A free reading allows you to build a real energetic rapport before deciding to move forward.

    3. You Can Explore a Variety of Psychic Specialties

    Not every psychic works the same way. Some are clairvoyants who see visions. Others are mediums who connect with past loved ones. Some rely on tools like tarot or astrology, while others are deeply intuitive empaths.

    Starting with a free psychic reading means you can sample different specialties and styles, and discover what works well for your unique needs.

    You might try:

    • A tarot card pull to gain insight into a decision
    • A clairvoyant to explore your future path
    • A spiritual medium to connect with a departed relative
    • An astrologer for a birth chart reading
    •  A pendulum or numerology expert for yes/no questions

    Exploring these services at no cost allows you to find your preferred modality and the psychic who most closely resonates with your energy.

    ⇒ Receive intuitive guidance with a free psychic reading

    4. It Encourages Clarity and Specificity in Your Questions

    A free session may only last 3 to 5 minutes or cover one free psychic question, which is a disguised benefit. Limited time encourages you to get clear about what you want to know.

    Instead of asking vague questions like “What’s going to happen to me?”, you learn to ask sharper, more focused questions such as:

    • “What energy surrounds my relationship right now?”
    • “How should I approach the job interview next week?”
    •  “What’s blocking me from moving forward emotionally?”

    This clarity often results in more meaningful, accurate guidance and creates better psychic sessions, even if you choose to pay later.

    ⇒ Receive guidance from real psychics for free — no payment needed

    5. You Gain Immediate Emotional Insight

    Many users of the psychic experts report that their first free psychic reading gave them instant validation. Whether it’s hearing something you’ve been secretly feeling or receiving encouragement from a psychic stranger, the experience can be deeply healing.

    You may not get all the answers in a short session, but often, a shift happens — emotionally, spiritually, or energetically. You walk away with more clarity, confidence, or even a spark of hope.

    ⇒ Ask your free psychic question and connect live now

    Tips for Getting the Most Out of Your Free Reading

    A free psychic reading online can be an incredibly enlightening experience—if you approach it with the right mindset. Whether you’re seeking clarity on love, career, or personal healing, how you prepare and participate will directly impact the value you receive.

    At the-psychic-experts.com, we’ve compiled expert-backed advice to help you make the most of your free psychic question, from emotional prep to spotting red flags and navigating what comes after.

    1. Prepare Emotionally and Spiritually

    Before you ask a free psychic question, center yourself for a few quiet minutes. A grounded emotional state makes your energy clearer, making it easier for a psychic to tune in accurately.

    Try this quick pre-reading checklist:

    • Find a quiet space: Choose somewhere you won’t be interrupted.
    • Set an intention: Focus on what you want to gain—clarity, peace, direction.
    •  Breathe deeply: Even a few deep breaths can calm your mind and body.

    Remember, your energy shapes your experience. You’re more likely to walk away with meaningful insights when you show up open but emotionally balanced.

    ⇒ Meet real psychic readers offering free chat now

    2. Ask Clear, Open-Ended Questions

    One of the most common mistakes in free psychic love reading sessions is asking yes/no or overly vague questions like, “Will I ever find love?” or “What’s going to happen to me?”
    Instead, reframe your query to invite deeper insight:

    • “What can I do to attract a healthier relationship?”
    • “What energy surrounds my connection with [Name] right now?”
    •  “What should I focus on to grow in my career?”

    Good psychics thrive on clarity and curiosity. The better your question, the more actionable your answer.

    3. Be Aware of Red Flags in Free Psychic Services

    Not all psychic platforms are created equal. While the-psychic-experts.com only recommends trusted advisors, there are some warning signs to watch out for, especially during free psychic reading online sessions.

    Avoid psychics who:

    • Use fear tactics (e.g., “You’re cursed—pay $200 to fix it”)
    • Push unnecessary upsells or insist you “must” buy more time
    • Offer only generic or vague answers
    •  Refuse to answer your original question and keep redirecting

    Real psychics don’t rely on scare tactics or manipulative sales pitches. They offer respectful, empowering guidance, even in a free session.

    ⇒ Discover what the universe has planned — free psychic insight

    4. Know What Comes After the Free Session

    Once your free minutes are up, you have a choice:

    • End the session and reflect on the message received
    • Continue with a paid session if the connection feels genuine
    • Try a different psychic if you didn’t resonate with the first

    You can also journal your experience—what you asked, what stood out, and what emotions came up. Reflection helps you integrate insights more deeply.

    Additionally, many platforms offer first-time deals for extended sessions. Continuing might be worth it if you felt a real spark of clarity in your free psychic love reading.

    ⇒ Talk with an intuitive expert and ask your free psychic question

    FAQs About Free Psychic Readings in 2025

    Free psychic readings are becoming one of the most searched spiritual wellness tools in 2025 — but naturally, people have questions. Below are the most common queries users ask, whether they’re first-timers or returning seekers.

    Is the psychic reading free?

    Many platforms featured in the psychic experts platform offer new users a free psychic reading online. It may be free minutes via chat or phone, a free introductory question, or a single free psychic love reading to give you a sense of what the advisor is like. No strings attached, just spiritual insight.

    What’s the catch with free psychic chat services?

    There’s no real “catch,” but it helps to understand the fine print. Most free psychic chat services are introductory offers designed to let you try before you buy. The session typically shifts into a paid format after your free minutes or single psychic question is answered. Still, you’re not obligated to continue unless you feel it’s worth it.

    Can I get a free reading without giving credit card info?

    Absolutely. highly-rated services on The-Psychic-Experts.com offer free psychic readings online with no required credit card. You can often access chat-based or app-based sessions without entering financial information, especially for basic questions or trial readings.

    What kind of questions can I ask a psychic for free?

    You can ask almost anything, but it is recommended to keep it focused and specific. Popular topics include:

    • Love and relationships
    • Career and finances
    • Life purpose and personal growth
    •  Future decisions or crossroads

    Examples:

    • “What does the future hold for my relationship?”
    • “Should I take the job offer I just received?”
    •  “What’s blocking me from finding clarity right now?”

    Just remember — most free psychic reading online sessions limit the number of questions or minutes, so focus on your high priority.

    Is a free psychic reading accurate?

    Yes, especially when you’re using a trusted platform. The psychics featured by the psychic experts platform are vetted for integrity and ability. Even a short free psychic love reading or yes/no question can provide startlingly accurate and emotionally resonant guidance. The key is approaching the session with an open mind and clear energy.

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    The MIL Network –

  • Modi government’s 11-year journey marked by bold reforms and technological transformation: Dr. Jitendra Singh

    Source: Government of India

    Source: Government of India (4)

    As the Modi government marks 11 years in power, Union Minister Dr. Jitendra Singh hailed the period as one defined by “bold decisions, futuristic reforms, and transformative governance.” Reflecting on more than a decade of leadership under Prime Minister Narendra Modi, Dr. Singh stated that this era has redefined India’s developmental narrative while restoring public faith in government systems.

    Speaking in an exclusive interview, Dr. Singh—who oversees portfolios in Science and Technology, Earth Sciences, Atomic Energy, Space, and Public Grievances—emphasized that the government’s major initiatives have consistently prioritized the country’s long-term strategic interests. Citing landmark reforms like the Goods and Services Tax (GST), Digital India, and the opening of critical sectors such as space and atomic energy to private enterprise, he said each step was aligned with the broader vision of a self-reliant and globally competitive India.

    Dr. Singh also highlighted the expanded role of the Department of Biotechnology (DBT), noting its achievements in vaccine development, genetic research, and promoting bio-entrepreneurship. These advances, he said, have contributed significantly to India’s emergence as a global technology hub.

    One of the defining characteristics of the Modi era, according to Dr. Singh, has been the integration of traditional governance objectives with cutting-edge technology. “Under Prime Minister Modi’s leadership, sectors like space, atomic energy, and biotechnology received unprecedented support. The global recognition India commands in these fields today is a result of visionary and consistent policies,” he said.

    Space technology, once confined to rocket launches, is now part of everyday life, improving services such as telemedicine, agricultural forecasting, and digital classrooms. Dr. Singh praised the JAM trinity (Jan Dhan-Aadhaar-Mobile) and Swachh Bharat Mission for transforming public service delivery and igniting mass social movements that transcend politics.

    Another key initiative, Special Campaign 4.0, was highlighted for its focus on systemic efficiency. Government departments across the country used the campaign to clear backlogs, responsibly dispose of e-waste, and free thousands of square feet of space by removing redundant materials. “What was once waste is now wealth,” Dr. Singh remarked, calling it a model for responsible governance.

    On the administrative front, Dr. Singh underlined the success of reforms like performance-based assessments and lateral entry of professionals, which have begun to change the culture of governance. He described Mission Karmayogi—a flagship bureaucratic training reform—as a cornerstone of this transformation.

    Dr. Singh also elaborated on new pension reforms introduced under the Modi government, particularly those aimed at supporting women. These include continued family pension benefits for childless widows after remarriage and entitlements for divorced daughters whose legal proceedings were initiated while their parents were alive. Additionally, female government employees can now nominate their children for family pensions in cases of marital dispute.

    Commenting on India’s foreign policy, Dr. Singh noted that the country has earned new respect on the global stage. He praised India’s proactive role during global crises, including the COVID-19 pandemic, as proof of the nation’s growing reliability and strategic importance.

    Looking ahead, Dr. Singh said the government has laid the foundation for the next 25 years as India moves toward its centenary in 2047. “This is just the beginning. The next phase will be about accelerating the gains of the last decade and ensuring India’s rightful place in the global order,” he concluded.

  • MIL-OSI USA: Kugler, The Economic Outlook and Appropriate Monetary Policy

    Source: US State of New York Federal Reserve

    Thank you, Barbara, and thank you for the invitation to speak to you today. It is an honor to join other members of the Federal Open Market Committee (FOMC) who have addressed the Economic Club of New York over the years.1
    My subject is the current state of the U.S. economy, the economic outlook, and the implications for monetary policy. The short version is that the labor market appears resilient and stable and economic activity is continuing to grow, although at a more moderate pace than in the second half of last year.
    While the labor market is currently at or near the FOMC’s goal of maximum employment, there is the prospect that trade and other policy changes could raise the unemployment rate and push employment away from our objective. These policies, especially higher import tariffs, could also raise inflation over the rest of this year. In fact, while progress toward the FOMC’s goal of 2 percent inflation has continued, we have seen an escalation in goods inflation and data from surveys, and non-traditional sources point to some inflationary pressures as well.
    In addition to increases in U.S. import tariffs and retaliatory increases in the tariffs foreign countries apply to U.S. exports, other policy changes, either proposed or already underway relate to immigration, fiscal policy and regulation. Those policies could affect economic conditions, and since it is the FOMC’s job to set monetary policy that is best able to achieve our mandated goals of maximum employment and stable prices, we must consider the effects of these policies. So far, we are beginning to see the impact only of higher tariffs on inflation. Still, thinking about the outlook requires consideration of how the economy could be affected by all these policy changes moving forward.
    It remains difficult to judge the current strength of economic activity, based on data through the first four months of 2025, primarily because of the front-loading of imports ahead of the implementation of tariffs. While real gross domestic product (GDP) declined slightly in the first quarter, that was largely because of a surge in imports ahead of anticipated tariff increases, a surge that will likely reverse. Putting aside fluctuations in trade and in inventories and focusing on the April data, personal income and consumption point to a slight moderation in economic activity. While personal disposable income increased at a healthy pace so far this year, consumption grew more slowly in April, which may indicate consumers are becoming more cautious. That said, there is considerable uncertainty about imports in the second quarter and uncertainty about the impact that higher prices will have on spending, so I will be looking for more evidence about economic activity in May ahead of the FOMC’s next meeting, June 17 and 18.
    One encouraging sign about economic activity is the resilience of the labor market. We will get the May employment report tomorrow, but the data in hand indicate that employment has continued to grow and that labor supply and demand remain in relative balance. In April, employers added 177,000 jobs, slightly higher than the average for the previous six months. The unemployment rate was steady in April at 4.2 percent, in the historically low range of 4 percent to 4.2 percent that it has remained in since May 2024. Data on job openings and quits for April likewise point to a resilient but somewhat looser labor market with a balance of supply and demand. The vacancy rate, a measure of demand for workers, was 4.4 percent, down from a peak of 7.4 percent three years ago and roughly the same level as just before the pandemic.2 The quits rate, an indicator of the confidence workers feel in finding a job, has been in the narrow range of 1.9 to 2.2 percent since December 2023, and just a bit below the average level in 2019.3
    Ahead of tomorrow’s employment report, other data that we have for May are generally consistent with this picture of the labor market but may suggest some cooling. The average of private-sector forecasters’ predictions for total job creation is 130,000.4 Also, while the pace of job layoffs remained at historically low levels through the final week of May, based on the number of new claims for unemployment benefits, other measures suggest modest increases in layoffs. For instance, Worker Adjustment and Retraining Notifications (WARN notices) of layoffs have ticked up since the beginning of the year, as have the mentions of layoffs in the Fed’s Beige Book survey and job cuts data reported by Challenger, Gray and Christmas.
    The other side of the FOMC’s dual mandate is price stability. Progress in lowering inflation toward the Committee’s 2 percent target has slowed some since last summer, even if headline and core inflation have continued to decline. The FOMC’s preferred inflation gauge, based on personal consumption expenditures (PCE), grew at a 2.1 percent annual rate in April. While that is quite close to the FOMC’s target, it was dragged down by a decline in energy prices. Core inflation—which excludes volatile prices for food and energy and is a good guide to future inflation—came in at 2.5 percent, so I do believe that our monetary policy stance, which I view as modestly restrictive, is currently appropriate to achieve and sustain 2 percent inflation over the longer term.
    Sticking with core inflation, to help me judge ongoing progress toward price stability, I like to look at the 12-month change in each of the three main categories of core inflation: housing services, services excluding housing, and goods. The PCE price index for housing services has declined markedly in the past year, from 5.7 percent in April 2024 to 4.2 percent in April this year, but it is still considerably above the level that persisted before the pandemic. Meanwhile, the PCE price index for core services excluding housing, which makes up more than half of core PCE inflation, has declined from 3.6 percent in April last year to 3 percent in April 2025, still somewhat above the level that prevailed before the pandemic. And the third category is core goods inflation, which rose at a 0.2 percent annual rate in the 12 months through April, compared with April 2024 when it had actually fallen 0.5 percent over the previous 12 months. In recent decades, core goods prices have typically fallen over time, helping to keep a lid on overall inflation, so this is a meaningful reversal of the disinflationary process. To sum up, while core services inflation has fallen, it is still running above the rate before the pandemic, and the progress on core goods inflation has reversed. I have been paying attention to this reversal for some time and how this could be exacerbated by the announced and implemented tariffs.
    Research published recently by Federal Reserve Board staff calculates the pass-through of tariffs enacted before April 2 to individual product categories tracked in personal consumption expenditures.5 Using PCE data from February through April, the authors estimate that the 20 percentage point increase in tariffs on Chinese imports earlier in the year raised overall core PCE prices by two tenths of 1 percent. Since tariffs on China are currently higher than 20 percent, and tariffs have increased for other countries, these results tell me, first, that the pass-through of tariffs into prices is relatively quick, and, second, should elevated tariffs persist, even just in the short run, larger effects may be coming soon. The import surge I mentioned earlier, ahead of sharp tariff increases, has delayed the price effects associated with those tariffs, and the reversal in that surge that I expect in the next few months will likely signal larger price increases.
    An important feature of most of the data I have mentioned so far is that it is released with significant lags. For example, the initial estimate of GDP is released about 30 days after the end of the quarter, and two later revisions mean that we may not get a clear idea of how output increased until nearly three months afterward. Monthly data on job openings are typically released with a one-month delay. The reasons for these lags are well known. For instance, statistical agencies can only survey households and businesses every so often, and it takes time to compile and publish high-quality statistics. Still, if policymakers solely rely on these traditional data to forecast what the economy will do in the future, they end up focusing on the past, which is a little like driving down the road by looking in a rearview mirror.
    As I mentioned in my speech last year to the National Association for Business Economics, there has been an explosion of nontraditional or soft data produced by the private sector, giving us an opportunity to measure economic developments with greater timeliness (sometimes even in real time), at a higher frequency, and with more granularity.6 These data are released closer to the time of collection, such as several surveys from the Federal Reserve Banks. Given today’s fast-changing and uncertain environment, soft and non-traditional data becomes all the more important.
    That said, nontraditional data often face their own challenges, including issues with representativeness, the lack of methodological consistency, and a short time-series history. And, to be clear, while some non-traditional data are indeed “soft data” in that they capture sentiment or expectations, other data in this category are decidedly “hard,” since they are based on actual decisions and actions by businesses and households. In evaluating both traditional and nontraditional data on the economy, I face a tradeoff between timeliness and precision, but both sources are essential for me in formulating an outlook.
    So, in the context of hard data that has lately been providing a less-than-clear view of the economy, what are the nontraditional data telling me about meeting the FOMC’s two economic objectives? On the price-stability side, survey data from businesses suggest that price increases are coming. These surveys report diffusion indexes, which are calculated as the percentage of total respondents reporting increases in prices minus the percentage reporting declines. Surveys for May point to indexes for inputs and selling prices being elevated relative to the beginning of the year, probably reflecting effects from higher tariffs. Manufacturing and non-manufacturing surveys from the Institute for Supply Management (ISM), as well as several surveys from the Federal Reserve Banks report increases in material prices and prices charged to customers, with many respondents volunteering that this is related to tariff increases.
    I believe expectations of future inflation are an important determinant of current inflation, and data for May continue to point to increases in measures of near-term inflation expectations. An average of private-sector economists published by the Survey of Professional Forecasters finds that expectations for core PCE inflation over the next year moved up from 2.4 percent in April to 2.9 percent in May. Among data on inflation expectations, the most dramatic increases have been seen in the University of Michigan Surveys of Consumers. While I take seriously the concern that recent methodological changes in the survey may have made this measure less reliable, this survey is a longstanding and important barometer of consumer sentiment, and I still monitor the signals it is giving us closely. According to the Michigan survey, consumers expect inflation in the next year to average 6.6 percent and over the next 5 to 10 years to average 4.2 percent. Tariffs continued to be an important issue in the Michigan survey, with nearly three-quarters of consumers mentioning them, up from almost 60 percent in April. Firms have also raised their inflation expectations, with a survey by the Cleveland Fed reporting an increase in one-year-ahead expectations from 3.2 percent in the first quarter to 3.9 percent in the second.
    However, I still see stability in most measures of longer-run inflation expectations. Notably, expectations among professional forecasters for inflation 6 to 10 years ahead decreased from 2.1 percent in April to 2 percent in May. That provides me some comfort, as it points to confidence from the public in the Fed to bring inflation to our goal of 2 percent over the medium term.
    Recent developments and the data I have been monitoring have led me to consider at least three channels through which tariffs could have a persistent influence on inflation. First, as I have mentioned in some previous speeches, while it is true that short-run inflation expectations are influenced by short-term economic shocks, I value them because they often represent the horizon of decisionmaking for businesses and consumers.7 The increase in short-run inflation expectations that I previously mentioned may give businesses more leeway to raise prices, thus increasing the persistence of inflation. A second channel for tariffs influencing inflation could be opportunistic pricing by firms, if they take advantage to increase prices of items not directly affected by tariffs. This, along with tariffs on intermediate goods, could generate second-round effects on inflation. And a third channel is that lower productivity may lead to upward pressure on prices. As firms adjust to the higher input costs and lower demand, they may cut back on capital investment and shift to a less-efficient combination of inputs. While, so far, I have only seen anecdotal evidence for the opportunistic pricing among these three channels, I am closely monitoring any signs of increased persistence on inflation.
    Nontraditional data indicators of real activity suggest that the economy might be starting to slow. Measures of household sentiment about economic conditions remain downbeat, such as those from the University of Michigan or the Conference Board. As for businesses, manufacturing surveys, such as the ISM, report a slowing in new orders. Additionally, the May Beige Book reports that economic activity has declined slightly relative to April. On the services side, representing the majority of businesses, the ISM PMI has trended down in the past few months and reached a level in May consistent with stagnation. Focusing on the ISM services new order component, it declined significantly in May to one of its lowest levels in recent years.
    In summary, the nontraditional data on economic activity are consistent with my overall assessment that we might be seeing some moderation in the growth of economic activity but not yet a significant slowdown. As policies on fiscal matters and immigration take shape, I find it important to also account for their implications for the U.S. economic outlook. On the fiscal side, the omnibus bill passed by the House would add stimulus to the economy.8 On the immigration side, we have seen inflows substantially down since last year, which decreases the labor supply and could add meaningful upward pressure to inflation by the end of the year in sectors reliant on immigrant labor such as agriculture, construction, food processing, and leisure and hospitality. That said, I have not yet seen much of an imprint on wages from these developments.
    Let me conclude with the implications of all this for monetary policy. As inflation has declined over the past two years, due in part to tighter monetary policy, the U.S. economy has remained resilient, with stable labor markets and employment near its maximum sustainable level. Disinflation has slowed, and we are already seeing the effects of higher tariffs, which I expect will continue to raise inflation over 2025. I see greater upside risks to inflation at this juncture and potential downside risks to employment and output growth down the road, and this leads me to continue to support maintaining the FOMC’s policy rate at its current setting if upside risks to inflation remain. I view our current stance of monetary policy as well-positioned for any changes in the macroeconomic environment.
    Thank you for the opportunity to speak to you today, and I look forward to what I expect will be interesting questions.

    1. The views expressed here are my own and not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. Return to text
    2. The vacancy rate is defined as the number of vacant jobs as a percentage of total employment. Return to text
    3. The quits rate is defined as the percentage of employees who voluntarily quit their jobs relative to total employment. Return to text
    4. I report here the median of economists’ expectations for total nonfarm payrolls polled by Bloomberg. Return to text
    5. See Robert Minton and Mariano Somale (2025), “Detecting Tariff Effects on Consumer Prices in Real Time,” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, May 9). Return to text
    6. See Adriana D. Kugler (2024), “The Challenges Facing Economic Measurement and Creative Solutions,” speech delivered at the 21st Annual Economic Measurement Seminar, National Association for Business Economics Foundation, Washington, June 16. Return to text
    7. See Adriana D. Kugler (2025), “Inflation Expectations and Monetary Policymaking,” speech delivered at the Griswold Center for Economic Policy Studies and the Julis-Rabinowitz Center for Public Policy and Finance, Princeton University, Princeton, N.J., April 2. Return to text
    8. See Congressional Budget Office (2025), Preliminary Analysis of the Distributional Effects of the One Big Beautiful Bill Act (Washington: CBO, May). Return to text

    MIL OSI USA News –

  • MIL-OSI Global: Trump’s travel ban casts shadow over the upcoming Fifa Club World Cup and other US-hosted sporting events

    Source: The Conversation – UK – By Eric Storm, Senior Lecturer in General History, Leiden University

    Donald Trump’s controversial announcement of a travel ban on people from 12 countries visiting the US, immediately sparked questions about the implications for the upcoming Fifa Club World Cup and next year’s men’s football World Cup, both hosted in the US, as well as the 2028 Olympics in Los Angeles.

    The Fifa Club World Cup starts on June 15 and is hosted at venues across the US including at stadiums in Miami, Los Angeles and New York. Teams will travel from across the world to the US for the tournament.

    The travel ban will start on June 9, just before the major tournament, which features some of the biggest football clubs in the world, will start.

    While the announcement says athletes competing will be exempt from the ban, it is not obvious that this will extend to fans. And further restrictions on who can enter the country may add to the fear many travellers are feeling of being stopped at the US border.

    The announcement states that “any athlete or member of an athletic team, including coaches, persons performing a necessary support role, and immediate relatives travelling for the World Cup, the Olympics, or other major sporting events as defined by the Secretary of State” will be exempted from the ban. There’s not yet a list of which sporting events will be included in the exemption, or clarification of how the phrase “support role” may be interpreted.

    Some teams that have qualified for the Club World Cup have players from countries listed in the travel ban, and Iran, which is listed, has already qualified for the 2026 World Cup. The countries listed in the travel ban are: Afghanistan, Myanmar, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. Nationals from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela may also face some restrictions.

    President Trump announces a travel ban on 12 countries.

    The US relationship with both of its co-hosts (Mexico and Canada) for the world cup in 2026 is already rather tense, because of the current geopolitics, rhetoric and US tariffs. There’s already been a significant downturn in Canadian travel to the US, and a boycott of US products, after Trump’s assertions that he could take over his northern neighbour. This has also resulted in some tension at sports matches.

    The rivalry against US teams is likely to be more intense than normal. And it’s possible that many foreign fans could take out their frustration with Trump on US sportspeople. The president, who chairs the taskforce for the 2026 footballing event, could take that personally. And hostilities between rival groups of fans might escalate during the event.

    In the current polarised atmosphere some artists may not want to participate in the opening ceremony, unless they are aligned with Trump’s politics.

    Historical sporting conflicts

    Historically, political tension has had some impact on international sporting events, and affected how they were carried out. During the cold war, 60 countries, including the US, boycotted the Moscow Olympic Games of 1980 in protest against the recent Soviet invasion of Afghanistan. Four years later, 15 countries from the Soviet orbit responded by boycotting the Los Angeles games in 1984.

    After the fall of the Berlin wall in 1989 brought an end to the cold war, international relations generally became more relaxed and this was also reflected in major sport events. Fifa sought to reconcile Japan and South Korea, who had a difficult shared history of colonisation and war-time exploitation, by pressuring them to host the 2002 World Cup together.

    The tournament became a great success, patching up relations between the two countries. Both national teams performed better than anticipated, leading to outbursts of feelgood patriotism. This was unprecedented for Japan, burdened by the memory of the second world war.

    Four years later, the world cup was held in a recently reunited Germany. Fans from around the world, dressed up in their national colours, were welcomed in the host cities. The German public threw off its generally restrained attitude – and celebrated by waving the national flag with enthusiasm. It was felt to be a symbol of a new positive phase of a reunified Germany.

    Since the reelection of Trump, the United States has signalled it is reviewing its support for many international organisations, and is largely disregarding traditional avenues for soft power, (influence through cultural means such as film, art or foreign aid). Trump has also shocked Nato partners by suggesting that the US may not be willing to defend them.

    In the shadow of these international events and the growing geopolitical tensions, the upcoming football world cups may find their atmosphere somewhat dampened.

    Eric Storm 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. Trump’s travel ban casts shadow over the upcoming Fifa Club World Cup and other US-hosted sporting events – https://theconversation.com/trumps-travel-ban-casts-shadow-over-the-upcoming-fifa-club-world-cup-and-other-us-hosted-sporting-events-253496

    MIL OSI – Global Reports –

  • The Q4 Growth Numbers Have A Pleasant Message for India

    Source: Government of India

    Source: Government of India (4)

    More good news for India’s economy. Following the news of India becoming the fourth-largest economy, at more than $4 trillion, the numbers for the fourth quarter of FY25 are out. At 7.4 per cent, the growth numbers have exceeded the market expectations, leaving many pleasantly surprised.

    We finished the third quarter at 6.4 per cent, the second quarter at 5.6 per cent, and the first quarter at 6.5 per cent. Interestingly, in FY24, the GDP grew at 9.5 per cent in Q3 and 8.4 per cent in Q4. So, what happened?

    We must factor in the external factors at play here. In FY25, the first quarter, between April and June, was lost to the national elections. Business activity was largely muted, cash flows were restricted, and new orders were delayed. Nothing unusual, for elections of this magnitude and importance do leave the businesses on the precautionary backfoot.

    The second quarter, between July and September, was about getting used to a new avatar of the Narendra Modi Government. People were sceptical, given an unusual alliance in the Centre. However, it was soon visible to everyone that things were not going to change. The Lok Sabha numbers had not dented PM Modi’s socio-economic pursuits, and the show was to go on, uninterrupted.

    Whatever little doubts that remained were decimated on the morning of October 8, 2024. The flip in numbers, within twenty minutes, around 10:00 AM, sealed the political fate of the Congress. The Bharatiya Janata Party had triumphed expectations and predictions, and became the first party to register a third consecutive win (with complete five-year terms). The Haryana victory set up the third quarter for an economic resurgence.

    By the beginning of the fourth quarter, the BJP was in the driver’s seat. Maharashtra had been won with a thumping majority, and the party was eyeing Delhi next. The Budget came with the good news of a tax cut, enabling zero income tax for citizens with Rs. 12.75 Lakh annual income (standard deduction included).

    The larger message behind the fourth quarter numbers must be acknowledged. Political stability is directly proportional to growth numbers. While elections are an unavoidable occurrence in the trajectory of our democracy, the idea of ‘One Nation, One Election’, must be discussed with greater vigour. The continuity offered by the Narendra Modi government, in its third term, has also given the economy a critical thrust.

    From here, it’s a journey of a few years until we become the third-largest economy on the planet, trailing China and the United States of America. The evolution of our economy will add to our geopolitical heft, inevitably. As the largest free market in the world, with over a billion people, consumerism and the growing middle class offers enough nudge for the MSMEs and other aspiring entrepreneurs to embrace manufacturing.

    The tax cuts will also kick in next year, ushering in at least Rs. 1 Lakh Crore more into the economy. This will soon reflect in automobile sales numbers, tourism revenue, and other indirect taxes, as the spending goes up. The mere fact that the Modi Government was able to introduce these tax cuts is a testament to their stupendous fiscal management in the last eleven years.

    The other message is that of self-reliance. While the pandemic, Russia-Ukraine war, and the global supply chains crisis have put the manufacturing ambition into a hyperdrive mode, we can do more. India Stack and UPI are a stunning example of how self-reliance can propel success in other sectors, like the service economy. Close to 1,868 Crore UPI transactions in May 2025 further showcase the resolve of the Indian market.

    However, it’s now time to go big on hardware. The ongoing ‘Operation Sindoor’ proves how warfare is evolving, and why we should not rely on external players, especially China, for critical components. This is where our focus must be. The services industry has sustained the aspiring Indian middle class for almost three decades. It’s now time for manufacturing to take over.

    As we grow to become a ten trillion dollar economy by 2035, the nature of employment will evolve as well. Artificial Intelligence applications, offered at throwaway prices, are making several jobs redundant. The cycle of time moves, as it did when computers replaced typewriters, but no reason for India to be disheartened. Our economy evolved well with computers, it’ll do so with AI and hardware as well.

    The 7.4 per cent growth number has a message for India: keep the hustle going. Do not be afraid to evolve with the times, and while the ten trillion mark is a decade away, start preparing for it today. On the policy front, we must begin pondering ideas that allow us to minimise disruption (One Nation, One Election). On the innovation front, let’s get people to start aspiring for jobs that involve not sitting before a computer, but manufacturing one.

    This is India’s decade. The rise is inevitable and indispensable for the world.

    (Tushar Gupta is a Delhi-based journalist and a political commentator)

  • MIL-OSI Europe: REPORT on financing for development – ahead of the Fourth International Conference on Financing for Development in Seville – A10-0101/2025

    Source: European Parliament

    MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

    on financing for development – ahead of the Fourth International Conference on Financing for Development in Seville

    (2025/2004(INI))

    The European Parliament,

    – having regard to UN General Assembly Resolution 70/1 of 25 September 2015 entitled ‘Transforming our world: the 2030 Agenda for Sustainable Development’, adopted at the UN Sustainable Development Summit in New York and establishing the Sustainable Development Goals (SDGs),

    – having regard to the Addis Ababa Action Agenda of the Third International Conference on Financing for Development held in Addis Ababa from 13 to 16 July 2015,

    – having regard to the Paris Agreement of 12 December 2015, adopted at the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change,

    – having regard to the United Nations Declaration on the Rights of Indigenous People (UNDRIP) of 13 September 2007,

    – having regard to the document of the United National Conference on Trade and Development (UNCTAD) of January 2012 entitled ‘Principles on Promoting Responsible Sovereign Lending and Borrowing’,

    – having regard to the United Nations Framework Classification for Resources (UNFC),

    – having regard to the UN General Assembly Resolution 68/304 of 9 September 2014 entitled ‘Towards the Establishment of a Multilateral Legal Framework for Sovereign Debt Restructuring Processes’,

    – having regard to the UN General Assembly Resolution of 10 September 2015 on the ‘Basic Principles on Sovereign Debt Restructuring Processes’,

    – having regard to the report of the Organisation for Economic Co-operation and Development (OECD) of 10 November 2022 entitled ‘Global Outlook on Financing for Sustainable Development 2023: No Sustainability Without Equity’,

    – having regard to the report of the Organisation for Economic Co-operation and Development of 5 September 2024 entitled ‘Multilateral Development Finance 2024’,

    – having regard to the UN Secretary-General’s SDG stimulus to deliver Agenda 2030 of February 2023,

    – having regard to UN General Assembly Resolution 79/1 of 22 September 2024 entitled ‘The Pact for the Future’, adopted at the Summit of the Future in New York,

    – having regard to the partnership agreement between the EU and its Member States, of the one part, and the Members of the Organisation of African, Caribbean and Pacific States, of the other part[1] (the Samoa Agreement),

    – having regard to the joint statement by the Council and the representatives of the governments of the Member States meeting within the Council, the European Parliament and the Commission of 30 June 2017 entitled ‘The new European consensus on development: Our world, our dignity, our future’[2],

    – having regard to the Council conclusions of 10 June 2021 on enhancing the European financial architecture for development,

    – having regard to its resolution of 17 April 2018 on enhancing developing countries’* debt sustainability[3],

    – having regard to its resolution of 24 November 2022 on the future European Financial Architecture for Development[4],

    – having regard to its resolution of 14 March 2023 on Policy Coherence for Development[5],

    – having regard to its resolution of 15 June 2023 on the implementation and delivery of the Sustainable Development Goals[6],

    – having regard to the EU Gender Action Plan (GAP III),

    – having regard to the Youth Action Plan (YAP) in European Union external action for 2022-2027,

    – having regard to Regulation (EU) 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU of the European Parliament and of the Council and repealing Regulation (EU) 2017/1601 of the European Parliament and of the Council and Council Regulation (EC, Euratom) No 480/2009[7],

    – having regard to the Climate Bank Roadmap of the European Investment Bank (EIB) of 14 December 2020,

    – having regard to the joint communication from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 1 December 2021 entitled ‘The Global Gateway’ (JOIN(2021)0030),

    – having regard to Rule 55 of its Rules of Procedure,

    – having regard to the report of the Committee on Development (A10-0101/2025),

    A. whereas Article 208 of the Treaty on the Functioning of the European Union (TFEU), dictates the reduction, and in the long-term eradication, of poverty as the primary objective of the EU’s development cooperation; whereas Article 21(2) of the Treaty on European Union (TEU) reaffirms its commitment to supporting human rights, preserving peace and preventing conflict, assisting populations, countries and regions confronting natural or man-made disasters, and to the sustainable management of global natural resources;

    B. whereas Article 18(4) TEU calls on the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy to ensure the consistency of the Union’s external action;

    C. whereas, at this critical juncture, with just five years remaining before we reach the 2030 target date for the SDGs, the increasing number of crises worldwide, the rise in extreme poverty and hunger, and the increasingly frequent and severe consequences of climate change have meant that, according to the 2024 UN SDG Report, only 17 % of the Sustainable Development Goals are currently on track to be achieved by 2030, despite progress in certain areas; whereas developing countries’[*] domestic revenue mobilisation remained low, due, among other factors, to illicit financial flows and also often corruption, causing crucial resources to be diverted from healthcare, education, and infrastructure development;

    D. whereas more than 700 million people worldwide are living in extreme poverty, a figure that keeps increasing; whereas poverty disproportionately affects women and girls globally, and the gender-poverty gap persists to this day; whereas the wealth gap and inequality within and between countries is widening, hindering sustainable development;

    E. whereas mobilising even a small fraction of global wealth for sustainable development remains difficult, with UN Trade and Development estimating that the annual SDG financing gap in developing countries* has increased to USD 4–4.3 trillion, representing a more than 50 % increase over pre-pandemic estimates and requiring an unprecedented mobilisation of financial resources, both public and private, at the global level, especially to tackle the climate crisis, biodiversity loss and rising inequalities;

    F. whereas food insecurity has significantly risen as a result of Russia’s war of aggression against Ukraine, as well as due to the impact of other armed conflicts and is therefore a barrier of achieving the SDGs; whereas EU cooperation needs to tackle the challenge of food security effectively with partner countries in a sustainable manner;

    G. whereas leading global donors in development cooperation are abandoning their commitments to finance sustainable development;

    H. whereas it is estimated that, if Member States had met the commitment to devote 0.7% of gross national income (GNI) to official development assistance (ODA) since 1970, more than EUR 1.2 trillion could have been allocated for development cooperation, a figure that is likely even to be much higher when taking into account the remainder of donor countries worldwide;

    I. whereas developing countries* face significantly higher borrowing costs, paying on average twice as much interest on their total sovereign debt stock compared to developed (higher income) countries, due to imbalanced global financial structures, but also due to the rating of country-specific risk factors, governance challenges or macroeconomic instability, which further exacerbates the finance divide;

    J. whereas, according to the latest data, almost two-thirds of low-income countries in the world are currently either in debt distress or at high risk thereof, with over 100 countries struggling due to the combination of debt and interest; whereas low-income countries (LICs) spent nearly 20 % of government revenues on servicing external debt in 2023, up fourfold since 2013; whereas debt spending in over three-quarters of low income countries is several times the spending on public goods such as education, health, social protection, or climate change, thus creating one of the most important obstacles for global south countries to advance the SDGs;

    K. whereas if indebted countries are also hit by a catastrophic external shock, such as a natural disaster, they often resort to further borrowing to pay for the reconstruction and recovery costs;

    L. whereas developing countries* in debt distress are projected to face annual debt servicing costs of USD 40 billion between 2023 and 2025, severely constraining their fiscal space for essential public investments;

    M. whereas achieving sustainable development requires more than just curbing debt solutions and securing external finance, it also involves strengthening the economic self-sufficiency of developing countries*, including through enhanced domestic resource mobilisation, qualitative investment-friendly policies, favouring the promotion of local entrepreneurship and local private sector growth;

    N. whereas a fifth of the world’s population lives in countries with high levels of inequality and, according to data from 2023, the richest 1 % of the world owns 47.5 % of all global wealth, and the effective tax rates on the richest 1 % are often lower than the tax rates for the rest of the population;

    O. whereas Climate Resilient Debt Clauses (CRDC) are clauses that can be added to loan or bond contracts and that are triggered by certain specified external catastrophic events, notably climate-related events, which allow the borrower to temporarily suspend debt payments;

    P. whereas the structure of creditors is changing and becoming more complex, with private creditors and new bilateral creditors outside the Paris Club playing a much larger role; whereas China, in particular, issues loans under opaque conditions, which is why stronger international regulation and disclosure of this debt is necessary;

    Q. whereas the upcoming Fourth International Conference on Financing for Development in 2025 presents a critical moment for the necessary reform of the global financial architecture and for addressing the growing financing challenges;

    R. whereas the current international financial architecture is based on the Bretton Woods Agreements of 1944, which represent an architecture that today is incapable of meeting the needs of the 21st century multipolar world, specifically the needs of so-called Global South countries – characterised by deeply integrated economies and financial markets, but also marked by geopolitical tensions, growing systemic risks and the effects of climate change, and persists in upholding the existing power imbalance that favours countries in the so-called Global North;

    S. whereas in order to address unsustainable and illegitimate debts, all governments must participate on an equal footing in the decision-making on debt crisis prevention and resolution, as well as different aspects of debt management, beyond creditor-dominated forums;

    T. whereas an improved global financial safety net is necessary to deal with systemic risks and global financial, economic and health crises and shocks;

    U. whereas indebted countries tend to avoid debt restructuring at all costs, i.e. to secure access to the financial market in the future; whereas in order to make external debt payments possible, governments tend to implement harsh austerity programmes, on many occasions following the IMF assessment;

    V. whereas conditionalities imposed by the IMF and some multilateral development banks (MDBs) are focused on fiscal consolidation and market solutions, thus limiting public investment to advance the SDGs; whereas the ultimate consequence of austerity programmes is a deep breach of people’s human rights in the Global South; whereas the G20 Common Framework has done little to solve those limitations, since priority is given to debt rescheduling and reprofiling;

    W. whereas tax resources as a share of GDP remain low in most developing countries*, which are confronted with social, political and administrative difficulties in establishing a sound public finance system, thereby making them particularly vulnerable to tax evasion and avoidance activities of individual taxpayers and corporations;

    X. whereas globalisation creates both opportunities and challenges, as in the case of the increased prevalence and size of multinational enterprises and changes in business models that may enable base erosion and tax avoidance and profit shifting on a significant scale, severely undermining domestic revenue collection, particularly in developing countries*; whereas as a result, taxes on corporate profits have been declining around the world; whereas international tax cooperation needs more solidarity to address national and global challenges;

    Y. whereas climate change has a negative impact on global sustainable development, exacerbating biodiversity loss, breakdown of ecosystems, natural disasters and extreme weather events, and disproportionately affecting historically marginalised groups, in particular women;

    Z. whereas development aid is increasingly being militarised, with funds originally intended for poverty eradication and social progress being diverted towards migration control, security cooperation, and geopolitical competition;

    Aa. whereas illicit financial flows out of developing countries*, challenges such as trade mispricing, loopholes in international tax rules and corruption continue to pose a serious obstacle, often undermining fair and inclusive development efforts, and impacting developing countries’* national budgets and social policy, thus severely reducing funds available for sustainable development; whereas responsible tax behaviour by multinational enterprises is an essential element of the principles of corporate social responsibility;

    Ab. whereas the potential of taxing extractive industries to boost fiscal revenues is largely untapped in developing countries*, primarily due to inadequate global tax rules and the challenges of enforcing them, as transnational companies frequently employ tax avoidance strategies; whereas this challenge is all the more acute for low-income countries that are heavily dependent on natural resources for their economic development;

    Ac. whereas current investment choices continue to diverge from the sustainable development goals, with vast capital flows supporting carbon-intensive industries, while funding for decarbonisation and the energy transition remains insufficient;

    Ad. whereas Russia is expanding its foothold in developing countries* in Africa, most notably in the Sahel region, spreading anti-European propaganda and offering alternatives to European ODA through bilateral deals;

    Ae. whereas the digitalisation of the economy has exacerbated existing problems relating to corporate tax avoidance and evasion, and the importance of ensuring fair and effective taxation of digital services;

    Af. whereas the EIB, through its development arm EIB Global, has committed to increasing the impact of international partnerships and development finance outside the European Union, presenting an opportunity for an enhanced EU contribution to global sustainable development;

    Ag. whereas the EIB has expanded its regional presence, including by opening new regional representation offices, such as the one in Jakarta, Indonesia, to strengthen engagement in south-east Asia and the Pacific;

    Ah. whereas the EIB, through EIB Global, is committed to sustainable development, climate action and innovative investments in low- and middle-income countries;

    Ai. whereas on 20 January 2025, the United States issued an Executive Order, enacting a 90-day suspension and reassessment of all foreign assistance programmes, including those administered by  United States Agency for International Development (USAID), and reaffirmed its withdrawal from the World Health Organisation (WHO) and the Paris Agreement, actions that have serious implications for humanitarian, health and climate initiatives in the Global South; whereas other countries, including some EU countries, also cut their global aid budgets, placing immense pressure on the international development and humanitarian sector;

    Aj. whereas the US withdrawal from foreign assistance programmes puts the EU in a decisive position in global development cooperation and the EU should assess how to strategically address critical shortfalls, particularly in sectors where stability, economic development, and humanitarian support are at risk, while ensuring a coordinated approach with international partners;

    Ak. whereas using regional multilateral development banks (MDBs) as a source of funding could lead to more balanced and equitable collaborations in support of efforts to reform the international financial architecture;

    Al. whereas official development assistance (ODA) has been cut back in many countries, including in the EU; whereas in 2023 only five countries worldwide met or exceeded the UN target of spending 0.7 % of their GNI on official development assistance (ODA); whereas the EU collectively undertook to provide 0.7 % of GNI as ODA, and 0.2 % as ODA to least developed countries (LDCs) by 2030, reaffirmed in the Council conclusions of June 2024, in the European Consensus on Development and in the Council conclusions of 26 May 2015; whereas the successful mobilisation of further capital, both private and public, in addition to ODA and other existing forms of development finance, is critical;

    Am. whereas the New Collective Quantified Goal (NCQG) agreed upon during the COP29 in Baku on 24 November 2024 includes commitments to mobilise at least USD 300 billion per year for climate change mitigation and adaptation in developing countries*; whereas the launch of the Baku-Belém Roadmap requires reaching at least an additional USD 1.3 trillion per year for development cooperation by 2035;

    An. whereas the fragmentation of government approaches to sustainable development financing remains a challenge, with the OECD noting that better policy coherence is needed to align tax, budgetary and development policies;

    Principles and objectives

    1. Stresses the importance for the international community to utilise the opportunities presented by the 4th Financing for Development Conference (FfD4) in Seville to promote structural reform of the international financial architecture to democratise international development cooperation and create equal power sharing, and to call for equitable and inclusive development cooperation policies that support gender equality;

    2. Calls on the EU as a key multilateral actor and its Member States to increase their efforts in development cooperation, increasing their presence, to improve the EU’s global credibility as a reliable partner and strengthen partnerships based on shared values;

    3. Reiterates that EU development policy must be driven by the principles and objectives set out in the UN 2030 Agenda for Sustainable Development, the Paris Agreement and the Addis Ababa Action Agenda and must ensure the application of a human rights based and human-centred approach, in line with Article 208 TFEU, the European Consensus on Development, the GAP III, the YAP, and International Human Rights Law;

    4. Acknowledges that the existing financial architecture presents ongoing challenges to preventing and addressing debt crises, highlighting the need to strengthen the tools available to promote responsible financing and long-term debt sustainability; considers that, in view of the insufficient progress towards the SDGs, the SDG financing gap, and the multitude of recent crises, the FfD4 is an urgently needed opportunity to set up a fair and efficient multilateral debt work-out mechanism, to help strengthen multilateralism, support systemic changes that address long-standing inequalities, define concrete commitments, reinforce the EU’s credibility as a development partner, as well as make substantial progress on ensuring stable financing for sustainable development worldwide; stresses that the mobilisation and effective use of domestic resources, underpinned by the principle of national ownership, are also essential for sustainable development;

    5. Calls on the EU to take effective measures against the shrinking of civic space, and ensure civil society participation in the reform of the current structures for development finance;

    6. Reiterates that at least 93 % of EU development policy expenditure must fulfil the criteria for ODA, and that at least 85 % of new actions should have gender equality as a principal or significant objective, and that at least 5 % should have gender equality as the principal objective;

    7. Emphasises the need for a comprehensive, integrated and people-centred approach to development finance in line with the Bridgetown Initiative, which calls for liquidity and debt sustainability issues to be addressed, for democratisation of financial institutions and debt relief to be implemented, for development and climate finance to be scaled up and for private capital to be increased to achieve the SDGs; stresses the importance of strengthening cooperation with like-minded partners;

    8. Calls for the EU to lead by example in reforming the international financial architecture to better meet the needs of the 21st century, characterised by deeply integrated economies, financial markets, and growing systemic risks;

    9. Recalls the commitment taken at COP 29 in form of the Baku-Belem roadmap to mobilise USD 1.3 trillion per year for development cooperation by 2035; urges the EU and its Member States to work together with their partners towards achieving this goal on the global level, encouraging cumulative polluters to take their part in climate change mitigation and adaptation in developing countries*, as well as for loss and damages, through public concessional and non-debt creating instruments, in line with the ‘Baku to Belem Roadmap’ agreed at COP 29; emphasises in this context the need for private investment to provide the necessary funds;

    10. Recalls that progressive taxation is pivotal to making progress on the ecological transition as well as on social and economic justice; stresses the need to look to new sources of financing, notably from sectors contributing the least to taxation while benefiting the most from globalisation, including those with the largest carbon and greenhouse gas emissions; in particular, calls for the exploration of innovative financing mechanisms, including market-based instruments and for contributions from sectors benefiting from globalisation, and establishment of specific taxes, to help finance global public goods, reduce inequalities within and between countries, contribute to climate objectives and support regional sustainable development; notes that growth, competitiveness and stability of developed economies is also a necessary precondition for increasing ODA financing;

    11. Stresses the importance of policy coherence for development (PCD), including gender and climate goals, as a fundamental part of the EU’s contribution to achieving the SDGs; calls for mainstreaming development goals into all EU policies that affect developing countries*, taking into account their legitimate concerns as regards the impact from European legislation; welcomes the Global Gateway strategy and highlights the importance of any EU development initiative to comply with a rights-based approach and to be linked to human development at all times; insist that EU development initiatives should never contribute in any way to enhancing the debt crisis or increasing inequalities; stresses furthermore that PCD implementation is essential to address the structural causes of the Global South’s unsustainable indebtedness;

    12. Stresses the importance of supporting enabling environments for civil society engagement through development programmes and ensuring their participation in decision-making processes on development aid, including ensuring an inclusive process in the FfD4, supporting civil society participation and access to negotiations and information, and support their role in monitoring and following up on decisions made;

    13. Underlines that underinvestment in critical social sectors threatens progress towards meeting the SDGs and exacerbates inequalities, including gender inequality; stresses the need to close financing gaps in the provision of essential public services, including health, education, energy, water and sanitation, and building social protection systems;

    14. Recognises the primary objective of EU development policy to be the reduction and, in the long term, the eradication of poverty, while also contributing to fostering sustainable economic, social and environmental development in developing countries*;

    15. Emphasises that inadequate investment in agrifood systems continues to aggravate food insecurity; stresses that a strategic approach that ensures better alignment and synergy among the different sources of financing, particularly in developing countries*, is needed to address food insecurity and malnutrition;

    16. Underlines the importance of fostering stronger, more inclusive multi-stakeholder partnerships that fully consider the views and standpoints of our development partner countries – at national, regional and local levels – as well as those of other stakeholders such as international institutions, development banks, non-governmental and civil society organisations, academia and think tanks; believes these development partnerships should be based on equality and tailored to reflect the capacities and needs of partner countries, as outlined in the European Consensus on Development; considers that, while financial support for partner countries is often essential, it cannot fully replace domestic efforts, but should complement them with the aim of catalysing economic growth, strengthening social protection systems and supporting investments in comprehensive human development, particularly education and job creation, which are key tools in eradicating poverty; underlines, in line with the principle of common but differentiated responsibilities, that partnerships should be grounded in mutual interests and shared values, prioritising sustainable development and the needs of people; stresses the importance of respecting human rights and ensuring a people-centred approach;

    17. Stresses the importance of transparency, accountability and proper oversight, emphasising that all EU funding for development cooperation must be carefully managed and monitored to prevent misuse, diversion, or inefficiency, while ensuring that resources are directed towards projects and initiatives that achieve the greatest positive impact in terms of the SDGS;

    Debt

    18. In view of the increasing number of low-income countries in debt distress or at high risk thereof; calls for the opening of an intergovernmental process to set up a UN Framework Convention on Sovereign Debt to address responsible financing with the purpose of preventing and resolving unsustainable debts; urges the EU and its Member States to support this process, to ensure fair burden-sharing among all creditors, including multilateral development banks, where necessary, without jeopardising MDBs’ financial health, to deal in particular with problems such as enormous delays in implementing restructurings and the lack of a common understanding and enforceable rules as regards the comparability of treatment of official and private creditors;

    19. Considers that the reform of the current debt structure should provide countries in the Global South with fair and lasting solutions to a crisis that is already having devastating effects on populations, particularly on women and the most vulnerable communities;

    20. Believes that, in many cases, only general debt relief and cancellation of debt, free of economic policy conditions and accepted by all creditors, can put a country back on a sustainable path of financing, instead of deferring debt repayments; stresses the need to develop domestic legislation to enforce private creditor’s participation in debt restructuring deals;

    21. Finds, however, that any such debt relief must be accompanied by internationally agreed principles on responsible borrowing and lending, including implementation and monitoring mechanisms, alongside enhanced transparency and accountability standards, capacity building and efforts to combat corruption; highlights that, in order to be effective, responsible lending and borrowing principles need to go beyond voluntary approaches; highlights in this context the importance of committing to international human rights, civic and civil society engagement;

    22. Recognises that women are often overrepresented in the public sector, and thereby disproportionally vulnerable to and impacted by budget cuts; emphasises therefore the importance of including a gender perspective in debt collection;

    23. Emphasises the need for enhanced international cooperation to address the changing creditor structure, where private creditors now hold more than a quarter of the external debt stock of developing countries*, and new bilateral creditors outside the Paris Club are involved in debt restructuring efforts, particularly in jurisdictions governing significant portions of sovereign debt, such as New York and the United Kingdom;

    24. Stresses the importance of increasing public and grants-based finance for climate mitigation and adaptation, and that climate finance in the form of loans risks further aggravating the debt distress of low- and middle-income countries; notes that only 50 % of the EU’s total climate finance continues to be provided in the form of grants; urges the EU and all Member States to increase grant-based finance, particularly for adaptation, and especially for least developed countries and small island developing states*;

    25. Calls for closer and stronger cooperation and coordination between the European Parliament, the European Commission, the European External Action Service and EU delegations, particularly in developing countries* in fragile contexts, in order to facilitate discussions and cooperation with relevant actors on the ground in order to identify the most effective projects;

    26. Urges the UN member states to develop a harmonised framework to strengthen domestic sovereign debt restructuring laws across its member countries, with the aim of facilitating more efficient and equitable debt treatment;

    27. Emphasises the need for greater policy coherence in addressing sovereign debt issues, aligning tax, budgetary, and development policies to effectively respond to cross-cutting challenges such as climate change and inequality;

    Reform of the international financial architecture

    28. Calls for an increase in the financing power of MDBs, and the expansion of their mandates to tackle global challenges;

    29. Calls for grants and highly concessional financing of the ecological transition, in particular for mobilising more resources for adaptation and the operationalisation of the Loss and Damage Fund; in addition, believes that all public lenders – governments, MDBs and other official lenders, including the IMF – should include, in their contracts, state-contingent clauses that are tied to climate and other economic exogenous shocks;

    30. Considers it necessary to guarantee new, additional, predictable funding that is readily accessible to women, indigenous peoples and the most vulnerable communities;

    31. Calls for the implementation of a rules-based, automatic quota reallocation system in the International Monetary Fund (IMF) to better reflect the changing global economic landscape and ensure fairer representation of emerging economies, as well as low income and least developed countries; in the meantime, calls for IMF special drawing rights to be rechannelled to developing countries* and multilateral development banks (MDBs), in line with the Bridgetown initiative, the UN Secretary-General’s SDG Stimulus and the initiatives of the African Development Bank (AfDB) and the Inter-American Development Bank (IDB), and for such rights to continue to be regularly allocated; in line with the principle of common but differentiated responsibilities;

    32. Underlines that EU financing must uphold the EU’s role as the world’s leading provider of development aid and climate finance in line with the Union’s global obligations and commitments; calls for sustainable financing models that prioritise resilience, reduce fiscal dependence and support structural transformation to prevent recurrent financial distress in developing economies*;

    33. Welcomes the commitment to gender balance on executive boards of all international organisations in the Zero Draft on the FfD4 Outcome; supports the establishment of a joint committee for governance reforms in the Bretton Woods Institutions to enhance transparency, inclusivity, such as through a fairer representation in decision-making bodies and fair access to finance and diversity in leadership and staff;

    34. Underlines that civil society organisations and smaller non-governmental organisations as well as churches and faith-based organisations are key development partners, since they work closely together with populations on the ground and are therefore better acquainted with their needs, and retain a presence after many other aid providers have withdrawn; calls for the adoption of guidelines on partnerships with churches and faith-based organisations in the area of development cooperation;

    35. Recalls that the regulation of the financial system is essential to advancing towards the prevention and fair resolution of debt crises;

    36. Calls for stronger regulation of global commodity futures markets, which is especially important for food and fuel products, and digital financial markets; stresses equally the need to encourage appropriate finance for social and environmental objectives, while discouraging the financing of high-carbon activities;

    Private business and finance

    37. Emphasises again the crucial role of the mobilisation of private finance to close the financing gap in achieving the SDGs and calls for more action to facilitate private sector involvement in development cooperation and to encourage companies to invest in less developed countries; recalls, however, that private sector investment and blended finance instruments have not always proven to be effective or sufficient in least developed and fragile states, especially in critical public services such as health, education and social protection, and they cannot fully replace public investment, thus requiring special attention from international donors, governments and MDBs; recognises, however, the potential role of enhanced public-private partnerships (PPPs), particularly in the field of technical and vocational training, upskilling and reskilling;

    38. Recalls the need to promote investments in education and vocational training in order to prioritise sustainable job creation and contribute to achieving the SDGs; further notes that trade, investment and job creation are a vital part of EU engagement for development and are contributing to sustainable development;

    39. Underlines the lack of transparency regarding the functioning of the Global Gateway in EU partner countries and absence of clear mechanisms for assessing its impact, particularly in fragile contexts where the Global Gateway may not apply; emphasises that there must be a continuous evaluation of the Global Gateway to assess its effectiveness and strategic direction;

    40. Insists that a conducive business enabling environment is essential for private investment, including through the rule of law, transparency, good governance, anti-corruption measures, investor and consumer protection, and fair competition; calls on the Commission to monitor and further improve mechanisms that will provide a security guarantee for European investors, on the other hand, stresses the need to rebalance investors’ rights with obligations towards the host state i.e. by supporting the local economy through technology transfer and by utilising local labour and inputs, so as to ensure that FDI translates into wider socio-economic benefits for society; calls for further improved access to affordable financing for the informal sector, dominated by micro- and small businesses, often led by women; calls for scaled-up EIB guarantee programmes to financially support small and medium-sized enterprises;

    41. Recalls that the security landscape is a decisive factor for investments and for sustainable development; highlights in this context the role and activities of religious institutions, women and all civil-society actors in conflict resolution and management, contributing to peace and security; more generally, emphasises the interconnectedness of development and security and stresses the necessity of further advancing a clearly defined nexus between development, peace and security;

    42. Emphasises that blended public and private finance must be aligned with the SDGs, focusing on development and requiring frameworks and legislation that focus on sustainable business and finance, sustainability disclosure and transparency and the set-up of a global SDG finance taxonomy;

    43. Calls on the EU to constructively engage towards the adoption of the UN Treaty on Business and Human Rights to regulate the activities of transnational corporations and other business enterprises and to allow victims to seek redress;

    44. Calls for the establishment of a dedicated SDG investment facilitation mechanism supported by the international community to identify and develop investment-ready opportunities aligned with the SDGs in least developed countries, leveraging the UNDP SDG Investor Platform’s success in identifying over 600 investment opportunity areas in emerging markets; recalls that SMEs play an important role in achieving the SDGs and therefore need to be encouraged and incentivised by EU policies to actively participate in initiatives contributing to sustainable development in developing countries*; also urges the EU and its Member States to prioritise allocation of grants and concessional financing based on vulnerabilities, namely in LDCs, fragile or conflict-affected countries, and to engage in coordination with relevant stakeholders including civil society actors;

    45. Urges the expansion of innovative financing mechanisms to mobilise private capital for SDG-aligned projects in LDCs and fragile states, emphasising the need to double current finance flows to nature-based solutions from USD 154 billion to at least USD 384 billion per year by 2025 to effectively address biodiversity loss, land degradation ecosystem destruction and climate change;

    46. Stresses the importance of capacity building and technical assistance for LDCs to develop long-term viable and SDG-aligned projects, advance human development and improve their investment climates, thereby attracting more private sector investment in critical sectors such as renewable energy, healthcare, and sustainable agriculture;

    47. Advocates the creation of a global risk mitigation facility consolidated within current UN-frameworks to address the higher perceived risks and borrowing costs faced by low- and middle-income countries; calls for the regulation of the credit rating system, which currently benefits countries in the Global North disproportionately over those in the Global South, which pay on average twice as much interest on their sovereign debt compared to developed countries, to address these higher perceived risks and borrowing costs;

    48. Emphasises the need for clearly defined access to development finance for local and regional governments in partner countries to ensure more balanced and transparent allocation of resources; stresses that overly centralised funding structures risk reinforcing inefficiencies and the politically motivated distribution of funds; underlines that empowering local governments – many of which play a crucial role in delivering public services and fostering inclusive economic development – would enhance community-based investments, accountability and governance reforms;

    49. Emphasises the need to promote PPPs and private investments, which drive economic growth and sustainable regional development;

    50. Highlights that PPPs are needed to cover the financial gap for development objectives in partner countries, further notes that private sector investments also need to serve the development of local communities and encourage, in this context, investments in education and vocational training;

    51. Highlights the special challenges faced by persons with disabilities and their families in terms of accessing development aid; calls for the special needs of persons with disabilities to be taken into account in development financing;

    Tax cooperation

    52. Welcomes the two-pillar solution for addressing the tax challenges arising from the digitalisation and globalisation of the economy, as agreed by the members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting, as a step forward; takes note, however, that a group of developing countries* has expressed dissatisfaction with the outcome, highlighting concerns around equity and inclusivity within the OECD Inclusive Framework; regrets that Pillar 1 on reallocation of taxing rights has still not entered into force and calls for the acceleration of its implementation, ensuring a fair reallocation of taxing rights to market jurisdictions, particularly benefiting developing countries*; calls for the EU and its Member States to ensure that the agreed global minimum corporate tax rate of 15 % for multinational enterprises is effectively applied, and urges the EU to support capacity building initiatives in developing* countries to effectively implement that minimum tax rate, ensuring they can benefit from the new rules and increase their domestic resource mobilisation;

    53. Urges the international community to take concrete steps in the creation and implementation of a UN Framework Convention on International Tax Cooperation; takes the view that this UN Convention on Tax should be designed with a view to ensuring a fair division of taxing rights between nation states, and, while duly considering national tax sovereignty, support efforts to tackle harmful tax practices and illicit financial flows; stresses, in this context, that the EU should play a proactive role in enabling developing countries* to mobilise domestic resources, in particular through enhanced tax governance, and that the EU should take the lead in combating illicit financial flows;

    54. Advocates further assistance for developing countries* and international cooperation for the purpose of strengthening tax systems, transparency and accountability in public financial management systems and of increasing domestic resource mobilisation, including through the digitalisation of tax systems and administrations;

    55. Supports the decision of G20 finance ministers to ensure that ultra-high net worth individuals are taxed effectively; considers that Brazil’s initiative at the latest G20 summit for a coordinated minimum tax on ultrahigh net worth individuals equal to 2 % of their wealth, which it is estimated would raise up to USD 250 billion annually, is worth further consideration;

    56. Emphasises the need to continue working on efforts to combat illicit financial flows, in particular out of low- and middle-income countries, and corruption, inter alia by investing in human capacities and skills, digitalisation, building up accessible and interoperable data, strengthening governance structures, enhancing regulatory frameworks and promoting regional cooperation;

    57. Recalls that the extractive sector in Africa is particularly prone to illicit outflows; takes the view that the review of tax treaties should aim to strengthen the bargaining position of host governments so they can obtain better returns from their natural resources and stimulate diversification of their economies; in addition, believes that the Extractive Industries Transparency Initiative (EITI) should be made mandatory and extended to focus not only on governments but also on producer firms and commodity trading companies;

    58. Advocates the creation of a global beneficial ownership registry to enhance transparency and combat tax evasion and illicit financial flows, building on existing EU initiatives in this area;

    Official development assistance (ODA) and financing development cooperation

    59. Emphasises that, despite the EU and its Member States remaining the largest global ODA provider, accounting for 42 % of global ODA in 2022 and 2023, the collective ODA/gross national income ratio has declined from 0.56 % in 2022 to 0.51 % in 2023, falling well short of the 0.7 % target; calls for urgent action to address the cumulative shortfall in meeting the 0.7 % target; is alarmed by the worrying trends that further cut ODA in many Member States and in the EU budget as well as by other leading global donors, leading to a further increase in the global financing gap for development; encourages Member States to increase their ODA budgets in the light of the current geopolitical situation; stresses the need to use development cooperation efficiently, to invest more specifically in those partner countries that promote, among other things, democratic reform efforts, access to social security systems and economic self-reliance;

    60. Rejects the idea that the traditional donor-recipient model has become obsolete and that ODA is no longer relevant; underlines that, despite evolving financing mechanisms and partnerships, ODA remains a vital tool for poverty reduction, addressing inequalities, and supporting the most vulnerable communities, particularly in fragile countries and LDCs;

    61. Urges the EU and the Member States to prioritise reaching the immediate target of devoting 0.15 % of GNI to ODA for LDCs, and to take concrete actions to fulfil this commitment, with a view to rapidly scaling up efforts to achieve a level of 0.20 % of GNI as ODA for LDCs; notes that the impact of development finance also depends on the efficiency of implementation of funding;

    62. Urges the Commission to increase efforts to implement the development finance objectives under the GAP III, namely that 85 % of all new actions integrate a gender perspective and support gender equality;

    63. Regrets that women’s rights organisations receive less than 1 % of global ODA and SDG5 remains among the least-funded SDGs, although improvement on SDG5 has been shown to be a cross-cutting driver for sustainable development; reiterates that women-led organisations are often best adapted to respond to humanitarian crises; calls on the international community to set ambitious targets for funding to women’s rights organisations;

    64. Expresses concern over the increasing trend of tied aid, which reached EUR 4.4 billion (6.5 % of total bilateral ODA) in 2022, and calls for measures to reverse this trend and ensure that ODA primarily benefits partner countries rather than donor economies;

    65. Calls on the EU and the Member States to devote 15 % of their ODA to education by 2030;

    66. Calls on the EU and the Member States to ensure that ODA includes long-term, sustainable funding for United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), guaranteeing access to essential services for Palestinian refugees and preventing further humanitarian crises;

    67. Emphasises that education must remain a central pillar of EU development assistance, including continued support for UNRWA schools, which provide education to over 500 000 Palestinian children, ensuring their right to quality education despite ongoing displacement and conflict;

    68. Stresses the need for a comprehensive approach to development financing, aligning the Neighbourhood, Development and International Cooperation Instrument (NDICI) – Global Europe with the SDGs and the Paris Agreement, while ensuring that the allocation of EUR 79.5 billion for 2021-2027 is used effectively to address global challenges; urges the creation of a system for Parliamentary oversight of NDICI-capital flows to ensure their alignment with the dedicated targets for development;

    69. Reiterates the urgent need to rethink and reform global governance of international development cooperation given the suspension of USAID and reductions in global aid by countries such as the UK, Netherlands, Belgium etc.; stresses that reform to the international financial architecture must be underpinned by a commitment to multilateralism and fit for a more crisis-prone world;

    °

    ° °

    70. Instructs its President to forward this resolution to the Council and the Commission, the European Investment Bank and the United Nations.

    MIL OSI Europe News –

  • MIL-OSI: Draganfly Showcases Tactical Drone Innovation at Global Defense Summit in Latvia

    Source: GlobeNewswire (MIL-OSI)

    Tampa, Florida, June 05, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8), an award-winning drone solutions and systems developer, is pleased to announce its successful participation at the Global Drone Innovation and Defense Coalition Summit (Drone Coalition) – Summer 2025, held May 29 in Riga, Latvia.

    Co-hosted by the Latvian and UK Ministries of Defense, the limited invite-only summit welcomed more than 1,500 participants from 28 countries across the government, defense, and drone technology sectors. The summit marked the formal expansion of the Drone Coalition from 17 to 20 member states and highlighted €4 billion in collective investment toward advancing coalition-aligned drone capabilities.

    Draganfly was featured as a leading provider, prominently positioned, and showcased multiple systems from its interoperable family of tactical drone platforms, including The Commander 3XL, The APEX, and the modular Flex FPV.

    Draganfly was the only provider demonstrating a fully modular and interchangeable FPV platform, and the only company offering multiple tactical deployment drone systems with field-proven validation.

    “We were honored to have participated in a summit that is shaping the future of allied drone strategy and deployment,” said Cameron Chell, President and CEO of Draganfly. “The interest in our modular Flex FPV system and integrated drone platforms reinforces our focus on innovation, mission adaptability, and coalition-aligned development priorities.”

    The company also engaged with representatives from leading academic and research institutions to explore potential collaborative initiatives in military drone advancement and demining technologies.

    Draganfly’s presence underscored its long-standing support for Ukraine and its commitment to field-driven innovation shaped by real-time operational feedback.

    Draganfly has been invited to return to Riga in August 2025 for the upcoming Security Conference, with further planning underway.

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize the way organizations operate. Recognized as being at the forefront of technology for over 25 years, Draganfly is an award-winning industry leader serving the public safety, public health, mining, agriculture, industrial inspections, security, and mapping and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.

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    Media Contact
    Erika Racicot
    Email: media@draganfly.com

    Company Contact
    Email: info@draganfly.com

    Forward-Looking Statements

    This release contains certain “forward looking statements” and certain “forward-looking ‎‎‎‎information” as ‎‎‎‎defined under applicable securities laws. Forward-looking statements ‎‎‎‎and information can ‎‎‎‎generally be identified by the use of forward-looking terminology such as ‎‎‎‎‎“may”, “will”, “expect”, “intend”, ‎‎‎‎‎“estimate”, “anticipate”, “believe”, “continue”, “plans” or similar ‎‎‎‎terminology. Forward-looking statements ‎‎‎‎and information are based on forecasts of future ‎‎‎‎results, estimates of amounts not yet determinable and ‎‎‎‎assumptions that, while believed by ‎‎‎‎management to be reasonable, are inherently subject to significant ‎‎‎‎business, economic and ‎‎‎‎competitive uncertainties and contingencies. Forward-looking statements ‎‎‎‎include, but are not ‎‎‎‎limited to, statements with respect to Draganfly’s participation in the Global Drone Innovation and Defense Coalition Summit as well as statements regarding the company engaging with representatives from leading academic and research institutions to explore potential collaborative initiatives in military drone advancement and demining technologies. Forward-‎‎‎‎looking statements and information are subject to various ‎known ‎‎and unknown risks and ‎‎‎‎‎uncertainties, many of which are beyond the ability of the Company to ‎control or ‎‎predict, that ‎‎‎‎may cause ‎the Company’s actual results, performance or achievements to be ‎materially ‎‎different ‎‎‎‎from those ‎expressed or implied thereby, and are developed based on assumptions ‎about ‎‎such ‎‎‎‎risks, uncertainties ‎and other factors set out here in, including but not limited to: the potential ‎‎‎‎‎‎‎impact of epidemics, ‎pandemics or other public health crises, including the ‎COVID-19 pandemic, on the Company’s business, operations and financial ‎‎‎‎condition; the ‎‎‎successful integration of ‎technology; the inherent risks involved in the general ‎‎‎‎securities markets; ‎‎‎uncertainties relating to the ‎availability and costs of financing needed in the ‎‎‎‎future; the inherent ‎‎‎uncertainty of cost estimates; the ‎potential for unexpected costs and ‎‎‎‎expenses, currency ‎‎‎fluctuations; regulatory restrictions; and liability, ‎competition, loss of key ‎‎‎‎employees and other related risks ‎‎‎and uncertainties disclosed under the ‎heading “Risk Factors“ ‎‎‎‎in the Company’s most recent filings filed ‎‎‎with securities regulators in Canada on ‎the SEDAR ‎‎‎‎website at www.sedar.com and with the United States Securities and Exchange Commission (the “SEC”) on EDGAR through the SEC’s website at www.sec.gov. The Company undertakes ‎‎‎no obligation to update forward-‎looking ‎‎‎‎information except as required by applicable law. Such forward-‎‎‎looking information represents ‎‎‎‎‎managements’ best judgment based on information currently available. ‎‎‎No forward-looking ‎‎‎‎statement ‎can be guaranteed and actual future results may vary materially. ‎‎‎Accordingly, readers ‎‎‎‎are advised not to ‎place undue reliance on forward-looking statements or ‎‎‎information.‎

    The MIL Network –

  • MIL-OSI United Nations: 4 June 2025 Departmental update Global health leaders urge action on immunization priorities at Seventy-eighth World Health Assembly

    Source: World Health Organisation

    During the Seventy-eighth World Health Assembly, held from 19 to 27 May 2025, Member States and global health partners urged continued action on vaccine-preventable diseases—such as cervical cancer, measles, meningitis, polio, and rubella—through Assembly agenda items and side events aimed at accelerating global immunization efforts and preventing future outbreaks. 

    Innovation, integration and investment to outsmart outbreaks 

    Immunization discussions kicked off at the high-level side event, “Outsmarting Outbreaks: Innovation, Integration & Investment”, hosted by Chile, Democratic Republic of the Congo, Madagascar, Niger, Somalia, and Zambia, and supported by the Gates Foundation, the United Nations Foundation and other partners. The event underscored the alarming resurgence of measles, cholera, and polio amid escalating conflict and climate threats, urging countries to safeguard immunization progress, complete polio eradication efforts, and strengthen preparedness for emerging health risks.  

    Attendees shared successes and challenges, particularly from countries facing simultaneous outbreaks, while emphasizing the criticality of routine immunization, cross-sector partnerships, and innovative techniques – including wastewater monitoring and digital disease modeling for surveillance and the use of electronic registries for immunization in low-resource settings – to controlling preventable diseases and avoid outbreaks.  

    Discussions also emphasized the necessity of a ‘SMART’ approach—strategic, measurable, aligned, resilient, and timely collaboration—as well as innovative solutions like the AI-powered All Hazard Information Management Toolkit, to enhance rapid response capabilities. A call to action capped the event, urging concerted efforts to sustain investment in immunization programmes, build trust in vaccines through community engagement, and ensure robust pandemic preparedness, including through surveillance. 

    Countries reaffirm commitment to defeat meningitis 

    Member States praised WHO’s launch of new guidelines on meningitis diagnosis, treatment and care, and the continued rollout of new vaccines, including Men5CV, in high-burden countries. They also emphasized the strong commitment of national leaders, partners, civil society organizations and the dedicated teams supporting the road map at all levels of WHO. 

    Despite progress, delegates raised key challenges including vaccine affordability and equitable access, shortages in trained healthcare personnel, insufficient laboratory infrastructure, and gaps in surveillance systems.  

    Member States called for technical and financial support, maintaining emergency vaccine stockpiles, research and innovations, particularly of early detection, strengthened community engagement and awareness campaigns among both communities and health care workers as well as supported rehabilitation services.  

    Meningitis was further discussed during an official side event hosted by Mali, Nigeria and Pakistan, along with Gavi, the Vaccine Alliance on integrating solutions to defeat malaria, meningitis and polio. The event aimed to highlight how an integrated approach to elimination or eradication goals of the three diseases could maximize available resources and improve health service delivery for people and communities. 

    “We are at an inflection point in global health,” said Dr Sania Nishtar, Chief Executive Officer, Gavi, the Vaccine Alliance in her remarks. “We all know the challenges that we face as partners in global health. Between now and 2030, we will have to work smarter, more collaboratively, and with the needs of countries at the center of everything we do.”  

    Attendees discussed how integration can be achieved within disease surveillance, diagnosis, treatment and long-term care, and prevention through equitable access to vaccines. Several countries presented examples of delivering polio, malaria and meningitis vaccines through integrated campaigns alongside bed net distribution.  The event closed on a call for increased technical and financial support to accelerate integration across the three programmes in order to end polio, malaria, and meningitis. 

    (Left to Right) Derrick Sim, Managing Director of Vaccine Markets & Health Security at Gavi; Dr Hanan Balkhy, WHO Regional Director for the Eastern Mediterranean; Dr Jo Mulligan, Senior Health Advisor,Foreign, Commonwealth & Development Office, United Kingdom; H.E. Dr Colonel Assa Badiallo Touré, Minister of Health and Social Development, Mali; H.E. Dr Iziaq Adekunle Salako, Minister of State for Health and Social Welfare, Nigeria, and Ambassador Bilal Ahmad, Permanent Representative of Pakistan to the United Nations. 

    Life-saving power of measles and rubella vaccines emphasized 

    Amidst a global surge in measles outbreaks and with millions of children still lacking protection, global health leaders convened at a high-level side event titled “The Power of Prevention – Immunizing for a Safer, Healthier World” to deliver a unified message: these outbreaks are preventable—if we act decisively and without delay. 

    Co-hosted by Oman, Somalia, the Gates Foundation, Gavi, the Vaccine Alliance, the International Federation of Red Cross and Red Crescent Societies (IFRC), UNICEF, and the United Nations Foundation, on behalf of the Measles & Rubella Partnership, the side event focused on accelerating global immunization efforts and promoting equity in vaccine access.  

    “The Measles & Rubella Partnership has been a backbone of measles and rubella programs, surveillance and outbreak response across the world,” said Dr Razia Pendse, WHO Chef de Cabinet in her opening remarks. “Yet, these gains are fragile. Measles is making a dangerous comeback threatening communities, economies and global health security. We must remain steadfast in our commitment to investing in measles vaccination and other vaccines, investments that will lead healthier children, communities, and a more resilient future for people of all ages.” 

    Dr Razia Pendse, WHO Chef de Cabinet and Dr. Hilal bin Ali bin Halil Alsabti, Minister of Health of Oman. 

    The meeting was moderated by Mr. Jarrett Barrios, senior vice-president of the American Red Cross. Dr Sania Nishtar, CEO of Gavi, the Vaccine Alliance reminded countries of what is at stake if targets for the organization’s ongoing replenishment are not met—millions of children remaining unprotected and increasing outbreaks. 

    A key focus of the discussion was WHO’s updated rubella vaccine recommendation, which removes the requirement for 80% measles coverage before introducing the combined measles-rubella vaccine. This policy shift allows all countries to include rubella vaccination in routine immunization—opening the door for the 13 remaining countries to introduce the vaccine, save lives, and prevent future outbreaks. 

    Grace Melia, an Indonesian mother who recently lost her daughter after a 12-year battle against the devastating effects of congenital rubella, concluded the event by sharing her testimonial and calling for action. “They say knowledge is power,” she said. “With all due respect, knowledge applied into action would be much more powerful. And I hope we are all here today to be part of that action.” 

    Reaffirmed commitments to achieving a polio-free world 

    During the Assembly, Member States reaffirmed their full support for achieving and sustaining a polio-free world, acknowledging WHO and its partners’ efforts to see the job done. Voicing concern about ongoing variant outbreaks and the need for interruption of wild poliovirus transmission in Afghanistan and Pakistan, Member States called for continued resourcing to the effort, and smart integration of polio functions within broader public health services. Other key themes were strengthened routine immunization – including with inactivated polio vaccine – through coordination with GAVI, and the need for strong oral polio vaccine cessation planning, the safe and secure containment of polioviruses in research and vaccine manufacturing facilities.  

    Read more about polio here. 

    World Cervical Cancer Elimination Day announced as official WHO campaign  

    As part of ongoing efforts to eliminate cervical cancer, the Assembly established World Cervical Cancer Elimination Day as an official WHO awareness campaign to be marked on 17 November, annually. World Cervical Cancer Elimination Day will promote actions to end the disease and protect the health of women and girls, including increasing access and update of human papillomavirus (HPV) vaccines.  

    Historic Pandemic Agreement  

    Member States formally adopted the world’s first Pandemic Agreement. The landmark decision by the World Health Assembly culminates more than three years of intensive negotiations launched by governments in response to the devastating impacts of the COVID-19 pandemic and driven by the goal of making the world safer from – and more equitable in response to – future pandemics. The agreement boosts global collaboration to ensure stronger, more equitable response to future pandemics. Next steps include negotiations on Pathogen Access and Benefits Sharing system. 

    —- 

    MIL OSI United Nations News –

  • MIL-OSI United Kingdom: Measles outbreaks continue with risk of holidays causing surge

    Source: United Kingdom – Executive Government & Departments

    News story

    Measles outbreaks continue with risk of holidays causing surge

    Latest UKHSA data shows outbreaks continuing, with 109 cases confirmed in April and 86 so far in May.

    The UK Health Security Agency (UKHSA) today publishes its monthly update on measles cases in England, which shows outbreaks continuing, with 109 cases confirmed in April and 86 so far in May. Cases have predominantly been in unvaccinated children aged 10 years and under, with on-going outbreaks in a number of regions and London reporting almost half of all cases in the past 4 weeks.

    There has also been a global increase in measles cases including Europe over the last year and the Agency is concerned, that with travelling for holidays or to visit family this summer, there is a risk this could lead to another surge of measles cases in England.

    The latest measles epidemiology report on the UKHSA Data Dashboard today reports:

    • since 1 January there have been 420 laboratory confirmed measles cases reported in England
    • 109 measles cases were confirmed in April and to date 86 in May (number of laboratory confirmed measles cases by month of symptom onset, data reporting lags impact on most recent 4 weeks and therefore the figures are likely to be an underestimate)
    • the majority (276/420, 66%) of these cases were in children aged 10 years and under, but there are also cases being reported in young people and adults
    • London has seen the highest number of cases overall this year (162/420, 39%) and in the last 4 weeks (35/75, 47%)
    • a number of other regions are also reporting outbreaks – with 25% (19/75) of cases in the North West, and 11% (8/75) in the West Midlands in the last 4 weeks

    Since the introduction of the measles vaccine in 1968, at least 20 million measles cases and 4,500 deaths have been prevented in the UK.

    However, measles remains endemic in many countries around the world, and with declines in MMR vaccine uptake observed over the last decade, exacerbated by the COVID-19 pandemic, we have also seen large measles outbreaks in Europe and other countries. 

    An analysis by the World Health Organization (WHO) Europe and the United Nations Children’s Fund (UNICEF), reported 127, 350 measles cases in the European Region for 2024, double the number of cases reported for 2023 and the highest number since 1997.

    This year outbreaks have been seen in several other European countries, including France, Italy, Spain and Germany, and WHO recently reported that Romania, Pakistan, India, Thailand, Indonesia and Nigeria currently have among the largest number of measles cases worldwide.

    In England, the decline of the uptake of childhood vaccinations including MMR in the past decade (well below the WHO 95% target) means that many thousands of children are left unprotected with the risk of outbreaks linked to nurseries and schools.

    London has the lowest MMR uptake rates compared with other English regions (MMR2 uptake at 5 years is just 73.3% in London compared to English average of 83.9%).

    From Autumn 2023 to summer 2024, England experienced the biggest outbreak of measles since 2012, particularly affecting young children. Since the peak last year cases have declined but local outbreaks continue.

    Measles is one of the most highly infectious diseases and spreads rapidly among those who are unvaccinated. The UKHSA is concerned that more outbreaks may occur again on a larger scale this summer as families with unvaccinated children and adults travel to countries where there are outbreaks.

    It is important that anyone travelling for summer holidays or to visit family, especially parents of young children, check that all members of their family have received both their MMR vaccines.

    Getting vaccinated means you are also helping protect others who can’t have the vaccine, including infants under 1 year and people with weakened immune systems, who are at greater risk of serious illness and complications from measles.

    Dr Vanessa Saliba, Consultant Epidemiologist at the UK Health Security Agency:

    It’s essential that everyone, particularly parents of young children, check all family members are up to date with 2 MMR doses, especially if you are travelling this summer for holidays or visiting family. Measles cases are picking up again in England and outbreaks are happening in Europe and many countries with close links to the UK.

    Measles spreads very easily and can be a nasty disease, leading to complications like ear and chest infections and inflammation of the brain with some children tragically ending up in hospital and suffering life-long consequences. Nobody wants this for their child and it’s not something you want to experience when away on holiday.

    The MMR vaccine is the best way to protect yourself and your family from measles. Babies under the age of 1 and some people who have weakened immune systems can’t have the vaccine and are at risk of more serious complications if they get measles. They rely on the rest of us getting the vaccine to protect them.

    It is never too late to catch up, if you’re not sure if any of your family are up to date, check their Red Book or contact your GP practice. Don’t put it off and regret it later.

    Dr Amanda Doyle, National Director for Primary Care and Community Services at NHS England, said:

    Tens of thousands of additional MMR vaccinations were delivered following NHS action last year to protect children against measles, mumps and rubella, and the recent increase in cases seen in England and Europe should act as an important reminder to ensure your child is protected.

    Too many babies and young children are still not protected against the diseases, which are contagious infections that spread very easily and can cause serious health problems. MMR jabs are provided free as part of the NHS routine immunisation programme – and I would encourage all parents to act on invites or check vaccination records if they think they may have missed their child’s vaccination.

    The first MMR vaccine is offered to infants when they turn one year old and the second dose to pre-school children when they are around 3 years and 4 months old. 

    Around 99% of those who have 2 doses will be protected against measles and rubella. Although mumps protection is slightly lower, cases in vaccinated people are much less severe. 

    Anyone, whatever age, who has not had 2 doses can contact their GP surgery to book an appointment. It is never too late to catch-up. 

    It’s particularly important to check you’ve had both doses if you are: 

    • about to start college or university 
    • travelling overseas
    • planning a pregnancy 
    • a frontline health or social care worker 
    • if you work with young children or care for people as part of your work

    For more information on measles, mumps and rubella see the UKHSA resource: https://www.gov.uk/government/publications/mmr-for-all-general-leaflet

    Updates to this page

    Published 5 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: ATIF Holdings Limited Announces Strategic Diversification to Bitcoin Business

    Source: GlobeNewswire (MIL-OSI)

    Irvine, California, June 05, 2025 (GLOBE NEWSWIRE) — ATIF Holdings Limited (NASDAQ: ZBAI), today announced its strategic expansion into the Bitcoin (BTC) sector with an ambitious five-year plan to accumulate 1,000 BTC through a combination of direct purchases, and mining operations.

    As part of this initiative, ATIF Holdings will deploy a hybrid approach in the next five years including:

    • – Direct acquisition of BTC in the open market;
    • – Building and Operating proprietary BTC mining facilities; and/or acquiring operating BTC mining sites

    The company has tentatively selected West Texas as the primary location for its proprietary mining operations. This decision is driven by several key factors: Texas’ favorable regulatory environment for digital asset mining, abundant and affordable land, and a well-developed, deregulated electricity market with competitive power costs. Additionally, ATIF Holdings aims to implement advanced power utilization strategies to further reduce production costs and enhance overall operational efficiency.

    “We view Bitcoin not only as a long-term store of value but also as a strategic asset for growth and diversification,” said Kamran Khan, the CEO. “Our investment in mining infrastructure—particularly in a power-efficient region like West Texas—positions us to participate directly in Bitcoin’s network while optimizing cost control and scalability.”

    The planned mining facilities will emphasize energy efficiency, sustainable operations, and smart grid integration, aligning with broader industry trends towards responsible and forward-looking crypto infrastructure development.

    The company has purchased BTC in the open market and plans to continue to do so in the near future.   

    This move marks a significant evolution in ATIF Holdings’ business and underscores its commitment to innovation and long-term value creation in emerging technologies.

    About ZBAI

    ATIF Holdings Limited (NASDAQ: ZBAI) is a business consulting company that specializes in providing professional IPO, M&A advisory and post-IPO compliance services to small and medium-sized companies seeking to go public on a stock exchange in the United States. The Company is currently exploring business opportunities in the BTC sector.

    Forward-Looking Statements

    Certain statements in this press release are “forward-looking statements” within the meaning of the “safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, “estimated,” “projected,” Words such as “expect”, “anticipate”, “predict”, “plan”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “propose” and variations of these words or similar expressions (or the opposite of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements do not guarantee future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control and may cause actual results or achievements to differ materially from those discussed in the forward-looking statements.

    Important factors include:

    • Bitcoin price and uncertainty in the regulatory of the crypto currency industry;
    • future financial and operating results, including revenues, income, expenses, cash balances and other financial items;
    • Ability to manage business development, growth and expansion; Current and future economic and political conditions;
    • The ability to compete in industries with low barriers to entry;
    • The ability to obtain additional financing to fund capital expenditure for the planned business in the future.
    • Ability to attract new customers and further enhance brand awareness;
    • Ability to hire and retain qualified management and key staff for the current and planned business;
    • Trends and competition in the financial advisory services industry;
    • Pandemic or epidemic disease and etc.

    Except as required by law, the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the expected results expressed or implied by the forward-looking statements we make. You should not interpret forward-looking statements as predictions of future events. Forward-looking statements represent only the beliefs and assumptions of our management as of the date such statements are made. The above forward-looking statements are made as of the date of this press release.

    Contact Information

    Name: Christina

    Email: Christina@zbai.co

    The MIL Network –

  • MIL-OSI United Nations: 5 June 2025 Departmental update Vaccinating at every age is key to unlocking the full potential of immunization

    Source: World Health Organisation

    Yet, while childhood immunization programmes have saved millions of lives, vaccination of adults remains an overlooked tool—especially in low- and middle-income countries, where efforts have historically focused on reaching children, adolescents, and women of reproductive age. 

    A recent World Health Organization (WHO) study published in Vaccines underscores the value of adult vaccination to achieve healthy aging, while meeting the challenge of rising healthcare costs and antimicrobial resistance.  

    Although WHO recommends vaccines against diseases such as influenza, COVID-19, pneumococcal disease, tetanus, and respiratory syncytial virus (RSV), among others, for different adult population groups, the study finds that access remains unequal. Many low- and middle-income countries have yet to include vaccines targeting adults in their national schedules—leaving millions unprotected.  

    “As outbreaks of vaccine-preventable diseases increase, it’s more critical than ever that people receive every recommended dose—through every stage of life—to stay protected,” said Dr Alba Vilajeliu, lead author and technical officer in the Department of Immunization, Vaccines and Biologicals at WHO. “This isn’t just about saving lives; it’s also about increasing the quality of life for adults, their productivity within communities and alleviating the burden on already overstretched health systems.”  

    Under Immunization Agenda 2030, a global strategy for vaccination, countries envision a world where everyone, everywhere, at every age benefits from vaccines. Expanding adult immunization programmes will not only benefit older populations it will strengthen immunization programmes across the life course by enhancing health worker capacity, infrastructure and confidence in vaccines. 

    Adult immunization can be scaled quickly – as shown by COVID-19 

    The COVID-19 pandemic thrust adult vaccination into the global spotlight, driving major shifts in policies, attitudes, and health systems traditionally focused on childhood immunization. By the end of 2023, more than 13.6 billion COVID-19 vaccine doses had been administered globally, reaching 89% of health workers and 84% of older adults.  

    However, the WHO-study found those efforts have yet to translate to other adult vaccines. Despite seasonal influenza causing 3 to 5 million severe cases and up to 650 000 deaths annually, just 4% of low-income countries offer influenza vaccines to pregnant women, and only 8% to older adults. In contrast, high-income countries include them in 87% and 89% of national immunization schedules for these groups, respectively.  

    More than 50 years ago, countries began providing tetanus-containing vaccines for pregnant women to prevent maternal and neonatal tetanus. Today, 73% of low-income and 80% of lower-middle-income countries offer these vaccines. The experience of these and other vaccines for pregnant women offers valuable lessons for introducing new ones, like the maternal RSV vaccine to protect infants or future vaccines to prevent Group B streptococcus and malaria in pregnancy. 

    A recent Office of Health Economics (OHE) report also found that scaling up adult vaccination programmes for seasonal influenza, RSV, herpes zoster and pneumococcal disease in just 10 high- and upper middle-income countries returned up to 19 times their initial investment, offering a potential greater return in low- and middle-income countries. This amounted to up to US$ 4637 per individual full vaccination course. 

    New vaccines and innovations will broaden adult immunization 

    In addition to scaling up existing adult vaccines, new vaccines in development—like the next generation of tuberculosis vaccines, and vaccines for combinations of respiratory viruses—are expanding target groups beyond childhood. Through new platform technologies, such as mRNA, vaccine candidates are advancing into clinical testing at faster rates, without compromising safety. 

    Countries will need to continue to strengthen immunization programmes as part of primary health care services in order to introduce new- and under-utilized adult vaccines, scale-up existing vaccines, and ensure strong demand and uptake for adult immunization. Additionally, health workers will need to be trained to communicate on the importance of immunization across the life course. Engaging community leaders and healthcare professional networks will be essential for developing tailored communication for adult populations. 

    “As vaccination expands across the life course, now is the moment for countries to lay a strong foundation,” says Dr Kate O’Brien, Director of the Department of Immunization, Vaccines and Biologicals at WHO. “When we prioritize disease prevention to support lifelong health, we create continuous opportunities for health and well-being—and shift from a disease-centered model to one that truly puts people first. Adult immunization is central to that shift.” 

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    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: President Lai welcomes President Bernardo Arévalo of Republic of Guatemala with military honors  

    Source: Republic of China Taiwan

    Details
    2025-06-03
    President Lai confers decoration on President Hilda C. Heine of Republic of the Marshall Islands, hosts state banquet  
    At noon on June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, conferred a decoration upon President Hilda C. Heine of the Republic of the Marshall Islands, and hosted a state banquet for President Heine and her husband at the Presidential Office. In remarks, President Lai thanked President Heine for her commitment to deepening the diplomatic partnership between our nations and speaking up for Taiwan in the international arena. He also expressed hope for Taiwan and the Marshall Islands to work together to address various challenges through an even greater diversity of exchanges, and that together, we can contribute even more to peace, stability, and development throughout the Pacific region. At the decoration ceremony, President Lai personally conferred the Order of Brilliant Jade with Grand Cordon on President Heine before delivering remarks, a translation of which follows:  The Marshall Islands was the first Pacific ally that I visited after taking office as president. When I arrived there, I was immediately drawn to its beautiful scenery. And I received a very warm welcome from the local people. This gesture showed the profound friendship between our two nations. I was truly touched. I also remember trying your nation’s special Bob Whisky for the first time. The flavor was as unique and impressive as the landscape of the Marshall Islands.  In addition to welcoming our distinguished guests today, we also presented President Heine with the Order of Brilliant Jade with Grand Cordon. On behalf of the people of Taiwan, I want to thank President Heine for her commitment to deepening the diplomatic partnership between our nations, and for staunchly speaking up for Taiwan in the international arena. Both I and the people of Taiwan are profoundly grateful to President Heine for her friendship and support. Over the past few years, cooperation between Taiwan and the Marshall Islands has grown ever closer. And this visit by our distinguished guests will allow our two countries to further expand areas of bilateral exchange. I have always believed that only through mutual assistance and trust can two countries build a longstanding and steadfast partnership. I once again convey my sincere aspiration that Taiwan and the Marshall Islands work together to address various challenges through an even greater diversity of exchanges. Together, we can contribute even more to peace, stability, and development throughout the Pacific region. In closing, I want to thank President Heine and First Gentleman Thomas Kijiner, Jr. for leading this delegation to Taiwan, which deepens the foundations of our bilateral relationship. May our two nations enjoy a long and enduring friendship. President Heine then delivered remarks, stating that she felt especially privileged to receive the Order of Brilliant Jade with Grand Cordon of the Republic of China (Taiwan), and humbly accepted the honor with the utmost gratitude, humility, and deep responsibility. This is a deep responsibility, she said, because she understands that since its inception in 1933, this order has been bestowed upon a select few. She then thanked President Lai for this great honor. President Heine stated that the banquet was not just a celebration of our bilateral friendship, but a true reflection of the generosity of the Taiwan spirit and a testament to the enduring ties between our nations, founded on shared values and aspirations, including a respect for the rule of law, the preservation of human dignity, and a deep commitment to democracy. President Heine stated that the Taiwan-Marshall Islands partnership continues to evolve through practical cooperation and mutual support. In recent years, she said, our countries have worked hand in hand across a range of vital sectors, including the recent opening of the Majuro Hospital AI and Telehealth Center and the ongoing and successful Taiwan Health Center, various technical training and scholarship programs, and various climate change adaptation projects in renewable energy, coastal resilience, and sustainable agriculture.   President Heine emphasized that the Marshall Islands continues to be a proud and vocal supporter of Taiwan’s meaningful participation in the United Nations system and other international organizations. Taiwan’s exclusion from these platforms, she said, is not only unjust, but is bad for the world, and the global community needs Taiwan’s voice and expertise.  President Heine also expressed sincere appreciation to all of the Taiwanese friends who have contributed their efforts to deepening bilateral relations, including government officials, healthcare workers, teachers, engineers, and volunteers. The people of the Marshall Islands, she said, deeply appreciate and value everyone’s efforts and service. President Heine said that as we celebrate our partnership, let us look to the future with hope and determination, continue to work together, learn from one another, and support one another to champion a world where all nations can chart their own course based on peace and international law. Also attending the state banquet were Marshall Islands Council of Iroij Chairman Lanny Kabua, Minister of Foreign Affairs and Trade Kalani R. Kaneko, Minister of Finance David Paul, Nitijela Standing Committee on Foreign Affairs and Trade Chairperson Joe Bejang, and Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.  

    Details
    2025-06-03
    President Lai and President Hilda C. Heine of Marshall Islands hold bilateral talks and witness signing of agreements
    On the morning of June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Hilda C. Heine of the Republic of the Marshall Islands at the Presidential Office following a welcome ceremony with military honors for her and her husband. The leaders also jointly witnessed the signing of a letter of intent for sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund. President Lai then presided over a launch ceremony for a loan program to purchase aircraft. In remarks, President Lai thanked the government and the Nitijela (parliament) of the Marshall Islands for their longstanding support for Taiwan’s international participation and for voicing staunch support for Taiwan at numerous international venues. President Lai said that Taiwan looks forward to continuing to deepen its diplomatic partnership with the Marshall Islands and build an even closer cooperative relationship across a range of fields, engaging in mutual assistance for mutual benefits and helping each other achieve joint and prosperous development to yield even greater well-being for our peoples. A translation of President Lai’s remarks follows: I once again warmly welcome President Heine, First Gentleman Thomas Kijiner, Jr., and our guests to Taiwan. During my visit to the Marshall Islands last year, I said that Taiwan and the Marshall Islands are truly a family. When Vice President Hsiao and I took office last year, President Heine led a delegation to Taiwan. It is now one year since our inauguration, and I am delighted to see President Heine once again, just as if I were seeing family arrive from afar. Through my visit to the Marshall Islands, I gained a profound sense of the friendship between the peoples of our two nations, well-demonstrated by bilateral exchanges in such areas as healthcare, agriculture, and education. And it is thanks to President Heine’s longstanding support for Taiwan that our countries have been able to further advance collaboration on even more issues, including women’s empowerment and climate change. In recent years, the geopolitical and economic landscape has changed rapidly. We look forward to Taiwan and the Marshall Islands continuing to deepen our partnership and build an even closer cooperative relationship. In just a few moments, President Heine and I will witness the signing of several documents, including a memorandum of understanding and a letter of intent, to expand bilateral cooperation in such fields as sports, education, and transportation. Taiwan will take concrete action to work with the Marshall Islands and advance mutual prosperity and development, writing a new chapter in our diplomatic partnership. I would also like to take this opportunity to express gratitude to the government and Nitijela of the Marshall Islands. In recent years, the Nitijela has passed annual resolutions backing Taiwan’s international participation, and President Heine and Marshallese cabinet members have been some of the strongest advocates for Taiwan’s international participation, voicing staunch support for Taiwan at numerous international venues. Building on the pillars of democracy, peace, and prosperity, Taiwan will continue to work with the Marshall Islands and other like-minded countries to deepen our partnerships, engage in mutual assistance for mutual benefits, and help one another achieve joint and prosperous development. I have every confidence that the combined efforts of our two nations will yield even greater well-being for our peoples and see us make even more contributions to the world. President Heine then delivered remarks, and began by conveying warm greetings of iokwe from the people and government of the Republic of the Marshall Islands to the people and government of the Republic of China (Taiwan). She said she was deeply honored to be in Taiwan for an official visit, and extended appreciation to President Lai and his government for their gracious invitation and warm welcome. President Heine stated that this year marks 27 years of diplomatic ties between our two nations, and that they are proud of this enduring friendship. This special and enduring relationship, she said, is grounded in our shared Austronesian heritage, and strengthened by mutual respect for each other’s democratic systems and our steadfast commitment to the core values of freedom, justice, and the rule of law. President Heine stated that Taiwan’s continued support has been invaluable to the people and national development of the Marshall Islands, particularly in the areas of health, education, agriculture, and climate change. She also expressed deep appreciation to Taiwan for providing Marshallese students with opportunities to study in Taiwan, and for the care extended to Marshallese who travel here for medical treatment. President Heine also announced that she would be presenting a copy of a resolution by the people and government of the Republic of the Marshall Islands reiterating their appreciation for the support provided by the people and government of the Republic of China (Taiwan), and calling on the United Nations to take immediate action to resolve the inappropriate exclusion of Taiwan’s 23 million people from the UN system. She added that she looked forward to the bilateral discussions later that day, and to continuing the important work that both countries carry out together. After the bilateral talks, President Lai and President Heine witnessed the signing of a letter of intent regarding sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund by Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Marshallese Minister of Foreign Affairs and Trade Kalani R. Kaneko. President Lai then presided over a launch ceremony for a loan program to purchase aircraft, marking the formal beginning of Taiwan-Marshall Islands air transport cooperation. The visiting delegation also included Council of Iroij Chairman Lanny Kabua, Minister of Finance David Paul, and Nitijela Standing Committee on Foreign Affairs and Trade Chair Joe Bejang. They were accompanied to the Presidential Office by Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.

    Details
    2025-06-03
    President Lai welcomes President Hilda C. Heine of Republic of the Marshall Islands with military honors  
    President Lai Ching-te welcomed President Hilda C. Heine of the Republic of the Marshall Islands and her husband on the morning of June 3 with full military honors. In remarks, President Lai thanked President Heine and the people and government of the Marshall Islands for demonstrating such high regard for our nations’ diplomatic ties. The president said that over our 27 years of diplomatic relations, our cooperation in healthcare, agriculture, fisheries, education and training, and climate change has yielded many positive results. And moving ahead, he said, Taiwan will continue to deepen collaboration across all domains for mutual prosperity and growth. The welcome ceremony began at 10:30 a.m. in the plaza fronting the Presidential Office. President Lai and President Heine each delivered remarks after a 21-gun salute, the playing of the two countries’ national anthems, and a review of the military honor guard. A translation of President Lai’s remarks follows: On behalf of the people and government of the Republic of China (Taiwan), it is a great pleasure to welcome President Heine, First Gentleman Thomas Kijiner, Jr., and their delegation with full military honors as they make this state visit to Taiwan. When I traveled to the Marshall Islands on a state visit last December, I was received with great warmth and courtesy. I once again thank President Heine and the people and government of the Marshall Islands for demonstrating such high regard for our nations’ diplomatic ties. Taiwan and the Marshall Islands share Austronesian cultural traditions, and we are like-minded friends. Throughout our 27 years of diplomatic relations, we have always engaged with each other in a spirit of reciprocal trust and mutual assistance. Our cooperation in healthcare, agriculture, fisheries, education and training, and climate change has yielded many positive results. This is President Heine’s first state visit to Taiwan since taking office for a second time. We look forward to engaging our esteemed guests in in-depth discussions on issues of common concern. And moving ahead, Taiwan will continue to deepen collaboration with the Marshall Islands across all domains for mutual prosperity and growth. In closing, I thank President Heine, First Gentleman Kijiner, and their entire delegation for visiting Taiwan. I wish you all a pleasant and successful trip.  A transcript of President Heine’s remarks follows: Your Excellency President Lai Ching-te, Vice President [Bi-khim] Hsiao, honorable members of the cabinet, ambassadors, distinguished guests, ladies and gentlemen: It is my pleasure to extend warm greetings of iokwe on behalf of the people and the government of the Republic of the Marshall Islands. I wish to also convey my appreciation to Your Excellency President Lai, for the hospitality and very warm welcome – kommol tata. This visit marks my seventh official state visit to this beautiful country. It’s a testament to my strong commitment to further deepening ties between the Republic of the Marshall Islands and the Republic of China (Taiwan). During this visit, I look forward to engaging in meaningful discussions with Your Excellency President Lai to further strengthen the bilateral relationship between our two nations and our peoples.  For over a quarter-century, Taiwan has been a strong ally and friend to the Marshall Islands. Our partnership has thrived across many sectors, including education, healthcare, infrastructure, and economic development. Through Taiwan’s generous support and collaboration, we have made significant progress in improving the lives of our people, empowering our communities, and fostering sustainable growth. The Marshall Islands deeply values our partnership with Taiwan and appreciates Taiwan’s support over the years. Despite our small size and limited voice on the global stage, the Marshall Islands deeply cherishes our friendship with Taiwan, and to that end, I wish to reaffirm my government’s commitment to Taiwan’s meaningful participation in the United Nations system. Taiwan has consistently demonstrated its commitment to the principles of democracy, human rights, and the rule of law. In light of current constraints in global affairs, it is now more urgent than ever that the international community of nations recognize the fundamental rights of the 23 million Taiwanese people and recognize Taiwan’s aspiration to engage fully in global affairs. It is with this in mind that I wish to reiterate to Your Excellency President Lai, the Taiwanese people, and the world that under my government, Marshall Islands will continue to acknowledge Taiwan’s contribution on the global stage and urge like-minded countries to advocate for Taiwan’s meaningful engagement in the international arena. In closing, may I once again extend our sincere appreciation to Your Excellency President Lai, the people and government of the Republic of China (Taiwan), for your warm welcome.  Also in attendance at the welcome ceremony were Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands, Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman, and members of the foreign diplomatic corps in Taiwan.  

    Details
    2025-05-29
    President Lai attends 2025 Europe Day Dinner
    On the evening of May 29, President Lai Ching-te attended the 2025 Europe Day Dinner. In remarks, President Lai stated that Taiwan looks forward to further establishing institutionalized mechanisms with Europe for our trade and investment ties and hopes to take an innovative and diverse approach to sign an economic partnership agreement with the European Union, to provide a more transparent, stable, and predictable business environment for our enterprises. The president said that Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains, and noted that Taiwan and Europe have endless potential for collaboration, whether it is in safeguarding freedom and democracy or advancing our economic and trade relationship. He expressed hope to further strengthen our partnership and work together toward global peace, stability, and prosperity. A transcript of President Lai’s remarks follows: Chairman [Henry] Chang (張瀚書), thank you for the invitation, and congratulations on your second term. I’m confident that under your leadership, the ECCT [European Chamber of Commerce Taiwan] will build even more bridges for cooperation between Taiwan and Europe. I would also like to thank EETO [European Economic and Trade Office] Head [Lutz] Güllner and all the European country representatives stationed in Taiwan. Your hard work over the years has helped deepen Taiwan-Europe relations and brought about such fruitful cooperation. Thank you. This year we celebrate the 75th anniversary of the Schuman Declaration. In 1950, then-French Foreign Minister Robert Schuman proposed to create a European federation dedicated to preserving peace. The declaration symbolized a new flowering in the post-war era of democracy, unity, and cooperation. As we face the geopolitical challenges and drastic economic changes of today’s world, the Schuman Declaration still speaks to us profoundly. This year is also the 80th anniversary of the end of World War II in Europe. Moving forward, Taiwan will continue to advance cooperation with our democratic partners, and will join hands with Europe to build a partnership of even greater resilience and mutual trust. Europe is Taiwan’s third largest trading partner. It is also Taiwan’s largest source of foreign direct investment. Last year, bilateral trade between Taiwan and Europe totaled US$84.7 billion. This demonstrates our vibrant economic and trade ties and reflects the high levels of confidence our businesses have in each other’s markets and systems. We look forward to Taiwan and Europe further establishing institutionalized mechanisms for our trade and investment ties. And we hope to take an innovative and diverse approach to sign an economic partnership agreement with the EU, to provide a more transparent, stable, and predictable business environment for our enterprises. Today’s Taiwan has an internationally recognized democracy and a semiconductor industry vital to global security and prosperity. This enables us to play a key role in restructuring global democratic supply chains and the economic order. In particular, we see supply chains dominated by a new authoritarian bloc expanding their influence through non-market mechanisms, price subsidies, and monopolies on resources, as they seek global control of critical technologies and manufacturing capabilities. Their actions not only distort principles of market fairness, but also threaten the international community’s basic expectations for democracy, the rule of law, and corporate responsibility. In response, Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains. We will also introduce an initiative on semiconductor supply chain partnerships for global democracies. This is more than a proposal for economic cooperation; it is an alliance of shared values and advanced technology. Security in the Taiwan Strait and regional peace and stability have always been issues of mutual interest for Taiwan and Europe. So here today, on behalf of all the people of Taiwan, I would like to thank the EU and European nations for continuing to take concrete actions in public support of peace and stability across the strait. Such actions are vital to regional security and prosperity. Taiwan will continue to bolster itself to achieve real peace through strength, and will work with democratic partners to safeguard freedom and democracy, thereby showing our determination for regional peace. At this critical time, Taiwan and Europe have endless potential for collaboration, whether it’s in safeguarding freedom and democracy or advancing our economic and trade relationship. I look forward to our joining hands at this strategic juncture to further strengthen our partnership and work together toward global peace, stability, and prosperity. Also in attendance at the event was British Office Taipei Representative Ruth Bradley-Jones.

    Details
    2025-05-28
    President Lai meets US delegation led by Senator Tammy Duckworth
    On the afternoon of May 28, President Lai Ching-te met with a delegation led by United States Senator Tammy Duckworth. In remarks, President Lai thanked the US Congress and government for their longstanding and bipartisan support for Taiwan. The president stated that Taiwan will continue to strengthen cooperation with the US and jointly safeguard regional peace and stability. He pointed out that the Taiwan government has already proposed a roadmap for deepening Taiwan-US trade ties and will encourage mutual investment between Taiwanese and US businesses. He then expressed hope of deepening Taiwan-US ties and creating more niches for both sides. A translation of President Lai’s remarks follows: I warmly welcome this delegation led by Senator Duckworth, a dear friend of Taiwan. Senator Duckworth previously visited in May last year to convey congratulations after the inauguration of myself and Vice President Bi-khim Hsiao. Your bipartisan delegation was the first group from the US Senate that I met with as president. Today, you are visiting just after the first anniversary of my taking office, demonstrating the staunch support of the US and our deep friendship. On behalf of the people of Taiwan, I extend my sincere appreciation and greetings. And I invite you to come back and visit next year, the year after that, and every year. Taiwan and the US share the values of democracy and the rule of law and believe in free and open markets. Both sides embrace a common goal of peace, stability, and prosperity in the Indo-Pacific region. I thank the US Congress and government for their longstanding, bipartisan, and steadfast support for Taiwan. In 2021, to help Taiwan overcome the challenges of the COVID-19 pandemic, Senator Duckworth made a special trip here to announce that the US government would be donating vaccines to Taiwan. In recent years, Senator Duckworth has also promoted the TAIWAN Security Act, STAND with Taiwan Act, and Taiwan and America Space Assistance Act in the US Congress, all of which have further deepened Taiwan-US cooperation and steadily advanced our ties. For this, I express my deepest appreciation. I want to emphasize that the people of Taiwan have an unyielding determination to protect their homeland and free and democratic way of life. Over the past year, the government and private sector have been working together to enhance Taiwan’s whole-of-society defense resilience. The government is committed to reforming national defense, and it has proposed prioritizing special budget allocations to ensure that our defense budget exceeds three percent of GDP. This will continue to bolster Taiwan’s self-defense capabilities. Moving forward, Taiwan will continue to strengthen cooperation with the US. In addition to jointly safeguarding regional peace and stability, we also aspire to deepen bilateral trade and economic ties. At the SelectUSA Investment Summit in Washington, DC, earlier this month, Taiwan’s delegation was once again the biggest delegation attending the event – proof positive of our close economic and trade cooperation. We have already proposed a roadmap for deepening Taiwan-US trade ties. We will narrow the trade imbalance through the procurement of energy and agricultural and other industrial products from the US. We will encourage mutual investment between Taiwanese and US businesses to stimulate industrial development on both sides, especially in such industries as national defense and shipbuilding. We therefore look forward to Congress passing the US-Taiwan Expedited Double-Tax Relief Act as soon as possible, as this would deepen Taiwan-US trade ties and create more niches for business. In closing, I once again thank Senator Duckworth for making the trip to Taiwan. Let us continue to work together to elevate Taiwan-US ties. I wish you a pleasant and successful visit. Senator Duckworth then delivered remarks, saying that she is happy to be back in Taiwan and that she wanted to make sure to come back just after President Lai’s one-year anniversary of taking office to show the dedication and the outstanding friendship that we have. She noted that because no matter who is in the White House, no matter which political party is in power in Washington, DC, she has always believed that if America wants to remain a leader on the global stage, it has to show up for friends like Taiwan.  Senator Duckworth mentioned that in the years that she has been coming to Taiwan since pre-COVID times, she has seen a remarkable increase in participation in its defense and the support of the Taiwanese people for defending the homeland. She then thanked Taiwan for making the commitment to its self-defense, and also for being a partner with other nations around the world.  The STAND with Taiwan Act, the senator noted, is so named because the US wants to stand side by side with Taiwan. Pointing out that Taiwan is an important leader in the Indo-Pacific and on the global stage, she reiterated that there is support on both sides of the aisle in Washington for Taiwanese democracy, and added that the people of Taiwan are showing that they are willing to shore up their own readiness. Senator Duckworth said that whether it is delivering vaccines to Taiwan or making sure that the US National Guard works with Taiwan’s reserve forces or even with its civilian emergency response teams, these are all important components to the ongoing partnership between our nations.  Senator Duckworth indicated that there are many great opportunities moving forward beyond our military cooperation with one another. Whether it is in chip manufacturing, agricultural investments, shipbuilding, or in the healthcare field, those investments in both nations will facilitate stability and development in both our nations. She said that is why she wants to continue the Taiwan-US relationship, underlining that they are in it for the long haul. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Virgin Australia is coming back to the share market. Here’s what this new chapter could mean

    Source: The Conversation (Au and NZ) – By Rico Merkert, Professor in Transport and Supply Chain Management and Deputy Director, Institute of Transport and Logistics Studies (ITLS), University of Sydney Business School, University of Sydney

    Petr Podrouzek/Shutterstock

    It is finally happening. After five years of being a private company, Virgin Australia will relist on the Australian Securities Exchange (ASX) on June 24. The company is expected to raise A$685 million through the initial public offering (IPO).

    So, who will benefit from Virgin Australia’s return to the share market? Having paid $3.5 billion for the bankrupt carrier back in 2020, private equity firm Bain Capital will be the most immediate winner.

    Earlier this year, Bain had sold 25% of the company to Qatar Airways. Now, with the IPO, Bain will reduce its stake from about 70% down to 40%.

    With Virgin’s anticipated market capitalisation close to $2.3 billion and enterprise value of reportedly up to $3.6 billion, it is now evident that Bain Capital has – with Jayne Hrdlicka at the helm of the airline – not only managed to turn the company around, but to also profit nicely from doing so.

    Without Bain’s rescue at the beginning of the pandemic (which was catastrophic for airlines globally), the situation may have become quite detrimental for travellers. It also avoided having the Australian taxpayer foot the bill for a bailout.

    Whether the airline’s customers end up better off will depend on what Virgin Australia ends up doing with the $685 million it raises, on top of the substantial profits it has recently been able to generate.

    Stronger competition for Qantas?

    Looking at the strategies of both Virgin Australia and its biggest competitor, Qantas, in recent years, it seems both have learned to love playing the duopoly game.

    Based on our own calculations, Virgin controls roughly 33% of Australia’s domestic seat capacity and the Qantas group (which includes Jetstar) much of the rest on the country’s core flight network.

    In the 2010s, the two airlines were out-competing themselves in adding capacity to the market, which drove down yields (or revenue per passenger) and nearly killed Virgin Australia 1.0.

    Now, Qantas and Virgin have new chief executives who understand both airlines can be very profitable if they show some (capacity) discipline in how many seats they create and sell.

    Better services

    For that reason, it’s likely not much will change in terms of competition, at least in the domestic market. But this is only true as far as capacity is concerned.

    It seems reasonable to assume Virgin’s raised capital will only support future growth if it is profitable. The majority of the funds will likely go towards fleet renewal and improvement of the airline’s product.

    For consumers, this wouldn’t necessarily mean lower airfares in the domestic market. But it would mean newer aircraft and enhanced services, which is a positive for both flyers and the environment.

    International departures

    Virgin Australia will become a more formidable competitor to Qantas, thanks to its newly formed relationship with international partner Qatar Airways and the additional cash from relisting.

    It will be interesting to observe what Qatar will do next and whether a new player – perhaps Singapore Airlines – will enter the scene and take a stake in the airline once Virgin Australia is trading publicly again.

    It would not be the first time an international airline has taken a stake in Virgin Australia, and could create some interesting dynamics.

    Another beneficiary is Virgin Australia’s management team, who’ve been somewhat shackled by the priority of getting the IPO off the ground. The IPO will free up management to deploy resources towards more longer-term priorities.

    Many will see a significant payday – it’s estimated staff are sitting on shares that could soon collectively be worth $180 million.

    Why now?

    Bain Capital has timed this IPO carefully. Virgin Australia has (in tandem with Qantas) produced a stellar financial performance in the last financial year. It may deliver an even better one in the current reporting period.

    To maximise returns, it is likely Bain did not want to waste the opportunity to capitalise on the moment. Global markets are still full of volatility and geopolitical uncertainty. What may diminish is the financial performance of the core business Bain Capital is trying to sell.

    At $2.90 a share, Virgin Australia will have a price-to-earnings ratio (used to assess how relatively expensive a share price is) of seven times its expected earnings this financial year. This is lower than Qantas’ ratio of ten times expected earnings this financial year.

    Profits are likely to remain high this year, with continuing strong demand, high yields and low jet fuel prices. The brokers and underwriting investment banks will use this to sell the story.

    IPOs can sometimes deliver those already holding shares in a company significant day-one windfall profits. In this case, however, Bain’s expertise in the venture capital market means it is unlikely to leave any money on the table.

    One may also argue while Virgin appears to be priced at a discount compared to Qantas, there may be legitimate reasons for the price differential, such as Qantas’ very profitable loyalty business.

    Given uncertainties around demand and geopolitical tensions, there is no guarantee the share price of Qantas will remain at record highs for too long, which means the opportunity to present Virgin shares as a bargain may be short-lived.

    In the long term, it is widely agreed airlines are by definition volatile investments and not necessarily something the average investor should have in their portfolio.

    Moving forward

    Symbolically, the decision for Virgin to use a new stock ticker – VGN instead of the old VAH – may avoid bringing back bad memories.

    Five years can be a lifetime in aviation, but maybe not to bond holders who got just 10 cents in the dollar and shareholders (including the large airline partners who held equity stakes) who got nothing when the airline collapsed in 2020.

    From a strategy perspective, it will be important for management to avoid history repeating itself with international airlines buying into Virgin and securing board seats.

    This can be one way of influencing the strategy of the carrier’s domestic arm to funnel more passengers to their own international flights.

    It is positive, for both Virgin Australia and the Australian aviation industry, that Bain Capital appears set to pull this off and that the revitalised airline is now truly Virgin Australia 2.0.

    Rico Merkert and his team of PhD students receive funding from the Australian Research Council through a discovery project and various research industry project, including with Thales and Air New Zealand. He has previously worked on research with and for international airlines, including Qantas and Virgin Australia.

    – ref. Virgin Australia is coming back to the share market. Here’s what this new chapter could mean – https://theconversation.com/virgin-australia-is-coming-back-to-the-share-market-heres-what-this-new-chapter-could-mean-258179

    MIL OSI Analysis – EveningReport.nz –