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Category: Politics

  • MIL-OSI USA: Chairman Aguilar: Democrats are on the side of working people

    Source: US House of Representatives – Democratic Caucus

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI – March 04, 2025

    WASHINGTON, D.C. — Today, House Democratic Caucus Chair Pete Aguilar and Vice Chair Ted Lieu were joined by Congressional Progressive Caucus Chair Greg Casar and New Democrat Coalition Chair Brad Schneider for a press conference highlighting House Democrats’ unity against the Republican Budget that cuts Medicaid to pay for tax cuts for billionaires. 

    CHAIRMAN AGUILAR: Good morning. Pleased to be joined with my colleague Ted Lieu, Vice Chair of the Democratic Caucus, as well as Greg Casar, the Chair of the Congressional Progressive Caucus and the Chair of the New Democratic Coalition, Brad Schneider.

    Last week, House Democrats from every corner of our Caucus voted against the House Republican Budget, which cut Medicaid $880 billion to pay for tax cuts for billionaires. We want to make health care more affordable and more available to the American people. This is in stark contrast to Republicans who voted to kick children off their health care and to put seniors at risk.

    As President Trump prepares for tonight’s speech, it’s clear that Democrats are on the side of working people, while Republicans are only looking out for their billionaire friends. Trump and Republicans have broken their promise to lower costs on day one, which was his commitment, to focus on tax giveaways for corporations and billionaires who don’t need any more help. In fact, Trump’s reckless tariffs, just announced last night, will raise prices on gas, produce at grocery stores, beer, lumber to build homes, crude oil and parts that make cars.

    As families struggle to make ends meet, Democrats are united against Trump and Elon Musk dismantling the services that families rely on, while steering more taxpayer dollars to themselves and their billionaire friends. They’re dismantling the VA health care and laying off thousands of veterans, as Trump stands with Putin and risks our national security. Tonight, we expect the President to put on a master class in dishonesty. We expect the President will focus not on everyday Americans, but on his friends and his ego. No matter what he says, he cannot change the damage he’s done already and the fact that his agenda is going to raise prices for everyday Americans. 

    Vice Chair Ted Lieu.

    VICE CHAIR LIEU: Thank you, Chairman Aguilar. Honored to be here with Representatives Greg Casar and Brad Schneider. I want to tell you about a meeting I had today with Vote Vets. They brought in a number of veterans who were fired, and I want to tell you a story about one of them. Her name is Eileen. She is an Air Force veteran. She then went to work for FEMA. She’s in a rural part of Alabama. She was one of the first to volunteer with FEMA to deploy to Hurricane Helene. On President’s Day, she got an email firing her with no notice, and she couldn’t even go back to her office. They sent her UPS boxes saying, ‘You put your government cell phone and laptop in this box and you ship it back to us.’ A few days later, she had to go out to a field where her supervisor from FEMA had to walk out and give her her box from her items at her office. She has two kids, four and 10. She now has no job. 

    This is not how we should treat veterans, not how we should treat federal employees, not how we should treat any American. And this is what Donald Trump did to her. And he’s done that to a large number of federal employees. And if you look at the federal workforce, about one in four are veterans. This is not how they should be treated, and most of these actions are simply brazenly illegal. We have a number of court cases being filed. We’re winning a number of those cases. Others are going to go into litigation, and I call on the Administration to stop illegally firing our veterans and other federal employees. 

    I also now want to touch on the subject of tariffs. You’ve seen with the indiscriminate tariffs that the President has both imposed and threatened to impose, that not only is the stock market tanking, but also inflation is up, consumer sentiment is down, and the Atlanta Fed has now predicted that we’re going to contract this quarter in terms of GDP. That is shocking, and that is all because of actions of one person, the President, who is massively harming our economy. 

    And then, I’d like to conclude now on Ukraine. I don’t know why Donald Trump is scared of Putin. He clearly is. He acts like he’s scared of Putin. And right now, with his pause in funding to Ukraine, I just want to let Ukrainians know to please hang in there. The President of the United States cannot extend that pause because it would be illegal. Congress, on a bipartisan basis, appropriated that funding to Ukraine. Ukraine is going to get that funding. And with that, I’d like to introduce our amazing Representative from Austin, Texas, Greg Casar. He has done a fantastic job as leader of the Congressional Progressive Caucus.

    REP. CASAR: Thank you so much Vice Chair Lieu and Chairman Aguilar. I also want to thank New Dems Chairman Brad Schneider, who I’m proud to call a partner in the fight to protect Medicare, Medicaid, Social Security and the American people.

    Tonight, millions of Americans will tune in to watch the President address a Joint Session of Congress. I do not know what Trump will say, but I can guarantee you that he is going to lie to the American people and not tell the truth about what MAGA Republicans in Congress want to do to you right now. So let me say it clearly, whatever political games that Donald Trump plays tonight, whatever lies he tells and whatever show he puts on, people watching at home should know that Trump and House Republicans want to steal your health care, steal your taxpayer money and hand it over to their billionaire buddies and to their donors.

    In Congress, Republicans are advancing a budget that would end Medicaid as we know it. And Elon Musk is trying to cut your Medicare and your Social Security. Social Security that seniors earned throughout their lifetime is what Elon Musk just recently called a ‘Ponzi scheme.’ I’ll say it again. Elon Musk just called Social Security, ‘the biggest Ponzi scheme of all time.’ That’s right, a guy that makes $8 million per day from federal government contracts thinks that seniors getting $65 a day from Social Security is a ‘Ponzi scheme.’ Their plan is plain and simple: guys like Elon Musk get richer and you get screwed. 

    But here’s the good news, Democrats are united and fighting back to protect your Social Security, your Medicare and your Medicaid. New Democrats, Congressional Progressive Caucus Democrats, the two biggest ideological caucuses here in the Congress, have put out a joint letter that includes 100% of our members from our two Coalitions saying we will not vote to cut your Medicare, your Medicaid and your Social Security. Over 200 House Democrats showed just in a matter of days that we are united with the American people in this fight. So while we may not all agree on every single issue, we are saying with one voice, hands off Medicare, hands off Medicaid and hands off of Americans’ Social Security.

    So now the question becomes: will any three House Republicans grow a backbone? Will any three House Republicans do the right thing and act like U.S. Representatives instead of like Trump employees, and join us? Because if three Congressional House Republicans join together with Democrats to do the right thing, there will be no Social Security cuts. We can prevent cuts to Medicaid and Medicare and to Social Security. But if House Republicans choose instead unanimously to come after Social Security and Medicaid and Medicare, then they will own the terrible consequences for working people.

    Thank you so much. And now I’d like to hand this over to my partner, the Chairman of the New Democratic Coalition, Brad Schneider.

    REP. SCHNEIDER: Thank you Chair Casar, Chairman Aguilar, Vice Chair Lieu. It’s good to be standing here with you in one common voice. 

    Before I read my prepared remarks and talk about our joint letter, I want to touch on what Vice Chair Lieu talked about, veterans. I have the privilege of representing Naval Station Great Lakes in North Chicago, Illinois. Every single sailor, recruit, who enlists in the Navy shows up in North Chicago for 10 weeks of basic training. I’ve had the privilege of attending those graduations. I see those 17-, 18-, and 19-year-old young people, men and women, who say, ‘I want to serve my country. I want to put on the uniform of the United States, go to places I do not know, do things I have no idea if I’ll be able to do, to protect the American people and the American way of life.’ Many of those people serve two years, four years. Many serve 20 years or more. All of them, committed and dedicated to bettering our country. And many of them, when they finish their service, are not done serving our country. They go to work with the federal government. 

    They’re dedicated federal workers who are serving their nation in their local communities, many here in Washington. They’re the people who work in Social Security, the Forest Rangers in our national parks, the folks who provide care at VA hospitals, and they are the ones who are getting the letters from Elon Musk and DOGE in the middle of the night saying, ‘Your service is no longer desired and we no longer value your performance.’ 

    This is wrong, and this is weakening our country, and this is why we are standing before you united to say it has to stop. I’m very proud that the CPC, Congressional Progressive Caucus, New Democrat Coalition, others have come together. We’ve made a very strong statement. I’m proud to lead 110 members of the New Democrat Coalition in joining in that statement, saying, ‘We cannot allow dangerous cuts to programs that Americans have actually paid for out of their hard earned dollars.’ Medicare, Medicaid, Social Security. 

    The headline is and should be, House Democrats are united, in deep contrast to what we’re seeing from our Republican colleagues. While the Democrats are focused on lowering costs, Republicans are pushing a budget that will result in cuts to health care and benefits that have been earned by hard working Americans. While Democrats are focused on making our community safe, Musk and DOGE are firing thousands of employees who help keep planes in the sky, prevent diseases like bird flu and measles from spreading and serve our veterans after they complete their service to our nation. 

    Democrats are working tirelessly to bring down prices of everyday products, while President Trump, just today, levied 25% taxes on the American consumer that will raise costs for groceries, for cars and trucks, gasoline, new construction for houses and many other everyday products. Meanwhile, President Trump and Congressional Republicans are doing everything they can to give a free ride to oligarchs like Elon Musk and his wealthy billionaire friends, and they’re putting the burden for all of this on our seniors, our children, our first responders, on people who educate our children, build our houses, work on the factory floor, who take care of our communities and tend to us when we are sick. It is these hard working people who are in the crosshairs of the Republicans’ actions. 

    One of these people is my guest tonight. Adam Mulvey is a 20-year Army veteran who served three tours in Iraq and one in Afghanistan. He’s one of 6,000 of these veterans we’ve talked about who was fired between February 13th and 24th. He works, or worked, at Lovell Federal Health Care Center. James A. Lovell Center is the only hospital in our country that serves both veterans and active military and every one of those recruits I just mentioned. His job was to help provide emergency management services, planning and preparing in the case of a tornado or another emergency or even an active shooter. He served 35,000 veterans in our area, tens of thousands of active duty sailors and other military members and the 40- to 50,000 people each year who go through Naval Station Great Lakes. 

    We all believe government should be efficient, but Trump and Musk are taking a sledgehammer to Americans’ lives and our livelihoods. And I am proud to stand with all of my colleagues here today saying it has to stop. Thank you, and I am proud to yield back to Chairman Aguilar. 

    Video of the full press conference can be viewed here.

    ###

    MIL OSI USA News –

    March 6, 2025

  • MIL-OSI Security: Nigerian Man Extradited to the United States to Face Computer Intrusion and Theft Charges

    Source: Office of United States Attorneys

    Defendant allegedly conspired to use stolen taxpayer information to file over 1,000 fraudulent tax returns seeking millions of dollars in tax refunds

    BOSTON – A Nigerian national living in Mexico has been extradited to the United States for his role in a scheme to break into Massachusetts tax preparation firms’ computer networks and to file fraudulent tax returns.

    Matthew A. Akande, 36, was arrested in October 2024 at Heathrow Airport in the United Kingdom at the request of the United States and extradited to the United States on March 5, 2025. He appeared in federal court in Boston today. Akande was indicted by a federal grand jury in July 2022 with one count of conspiracy to obtain unauthorized access to protected computers in furtherance of fraud and to commit theft of government money and money laundering; one count of wire fraud; four counts of unauthorized access to protected computers in furtherance of fraud; 13 counts of theft of government money; and 14 counts of aggravated identity theft.

    Co-conspirator, Kehinde H. Oyetunji, 33, a Nigerian national living in North Dakota, pleaded guilty in December 2022 to one count of conspiracy to obtain unauthorized access to protected computers in furtherance of fraud and to commit theft of government money and money laundering. Oyetunji’s sentencing hearing has not yet been scheduled by the Court.

    Between in or about June 2016 and June 2021, Akande, Oyetunji and others are alleged to have worked together to steal money from the United States government using taxpayers’ personally identifiable information (PII) to file fraudulent tax returns in the taxpayers’ names. In addition, between in or about February 2020, the scheme involved stealing taxpayers’ PII from Massachusetts tax preparation firms via phishing attacks and computer intrusions.

    To carry out the scheme, Akande is alleged to have caused fraudulent phishing emails to be sent to five Massachusetts tax preparation firms. The emails purported to be from a prospective client seeking the tax preparation firms’ services but in truth were used to trick the firms into downloading remote access trojan malicious software (RAT malware), including malware known as Warzone RAT. Akande allegedly used the RAT malware to obtain the PII and prior year tax information of the tax preparation firms’ clients, which Akande then used to cause fraudulent tax returns to be filed seeking refunds. The tax returns directed that the fraudulent tax refunds be deposited in bank accounts allegedly opened by Oyetunji and others. Once the refunds were issued, Oyetunji and others withdrew the stolen money in cash in the United States and then transferred a portion to third parties in Mexico, allegedly at Akande’s direction, while keeping a portion for themselves. In total, Akande and his coconspirators are alleged to have filed more than 1,000 fraudulent tax returns seeking over $8.1 million in fraudulent tax refunds over approximately five years. They are alleged to have successfully obtained over $1.3 million in fraudulent tax refunds.

    Federal authorities encourage all businesses that suspect they have been the target and/or victim of a cyberattack to file a complaint with the Internet Crime Complaint Center at www.ic3.gov. Taxpayers and tax preparation firms that suspect they have been the target and/or victim of a phishing attack can also forward phishing email(s) to phishing@irs.gov.

    The charge of conspiracy provides for a sentence of up to five years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. The charge of wire fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. The charge of unauthorized access to protected computers in furtherance of fraud provides for a sentence of up to five years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. The charge of theft of government money provides for a sentence of up to 10 years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. The charge of aggravated identity theft provides for a mandatory sentence of two years in prison to be served consecutive to any other sentence imposed, one year of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    United States Attorney Leah B. Foley; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service’s Criminal Investigations in Boston made the announcement. The Justice Department’s Office of International Affairs coordinated with authorities in the United Kingdom to secure the extradition of Akande. Assistant U.S. Attorney David M. Holcomb of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.

    The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

    March 6, 2025

  • MIL-Evening Report: Consumer resistance is rising in the age of Trump. History shows how boycotts can be effective

    Source: The Conversation (Au and NZ) – By Garritt C. Van Dyk, Senior Lecturer in History, University of Waikato

    Justin Sullivan/Getty Images

    Boycotts are back. With people worried about everything from labour practices and human rights to tariffs and equal opportunity initiatives, collective consumer resistance has been rising globally.

    Right now, there are several month-long boycotts of Target underway in the United States due to the company abandoning its diversity, equity and inclusion (DEI) programme. Longer boycotts of specific corporations, beginning with Amazon, are scheduled for March and April.

    Last week, the non-partisan, grassroots People’s Union USA organised a “national economic blackout” by urging consumers to avoid buying anything beyond essentials. The inaugural event was, in part, spurred by anger at government cuts being made in the US by President Donald Trump and Elon Musk, with organisers saying:

    Our strength lies in economic power. If corporations control politicians through money, then we control corporations by withholding ours. Targeted boycotts, economic blackouts, and financial pressure will make them listen.

    More widely, the Palestinian-led Boycott, Divestiture, and Sanction (BDS) campaign against Israeli goods and companies has been operating for years now. And anti-American boycotts are underway in Canada as increased tariffs take effect .

    As these campaigns gain momentum, some consumers will question how effective boycotts are at changing corporate behaviour. But there is a long history of ordinary citizens successfully “voting with their wallets”, even before the term “boycott” was coined.

    Origins of the boycott

    In 1792, a British campaign to stop buying sugar produced by enslaved Africans in the West Indies began. This originated in the American colonies with Quakers rejecting sugar in the 1750s. They viewed enslaved Africans as stolen people, and therefore slave products as stolen goods.

    In Britain, the abolitionist movement appealed to women as household managers to give up slave products and sign a petition to end slavery. The power of this ethical consumerism gave women, not yet allowed to vote, a voice to parliament and a tangible way to participate in the cause.

    The word “boycott” itself originated during the 1880 Irish Land Wars, and referred to the resistance to English land agent and former army officer Captain Charles Boycott. Tenants of the absentee landlord he represented complained he “treated his cattle better than he did us”.

    Protests outside the gates of Captain Boycott’s residence during the Land League boycott in Ireland in 1880.
    Hulton Archive/Getty Images

    After Boycott imposed fines and employed police to attempt evictions, the Irish Land League responded with a campaign to ostracise him. Crowds intimidated workers so his crops would not be harvested, local shops refused to sell to him, and the post boy was threatened to stop deliveries.

    The parish priest, Father John O’Malley, adopted the term “boycott” for this collective action because he thought the County Mayo locals wouldn’t remember the word “ostracise”. Boycott was forced to flee Ireland, and the new term spread across the country.

    Some 75 years later, across the Atlantic, Rosa Parks was arrested for refusing to give up her seat to a white woman, as required by Alabama’s racial segregation laws. In 1955, the Montgomery Improvement Association organised a 13-month long boycott of the city’s buses, led by Martin Luther King Jr.

    African-Americans, who made up 75% of passengers, refused to ride the buses. In 1956, the US Supreme Court ruled segregated public buses were unconstitutional.

    American civil rights activist Rosa Parks sparked the 381 day Montgomery bus boycott, part of the wider civil rights movement in the US.
    Underwood Archives/Getty Images

    Can boycotts work in the 21st century?

    Boycotts are not the exclusive province of progressive activists. Across the political spectrum, the rejection of brands because of corporate behaviour has had moments of significant traction.

    In 2023, beer company Bud Light collaborated with transgender influencer Dylan Mulvaney as a brand ambassador. A backlash from conservative consumers saw the boycott cost parent company Anheuser-Busch Inbev an estimated US$1 billion.

    Bud Light also lost is status as the best-selling beer in the US to Mexican import Modelo. The brand then tried to back away from its marketing strategy, which only alienated the LGBTQIA+ community.

    Broad campaigns, such as the historical ones mentioned here, can be successful. But specifically targeted boycotts tend to be more effective in attracting media attention and sustaining momentum in the modern consumer age.

    This is especially true if consumers have a wide range of alternative goods or outlets that make it easier to avoid a brand or retailer.

    The most recent economic data show US consumer confidence is faltering, with its biggest drop since the summer of 2021. Inflation and the potential impact of a trade war are dampening retail sentiment.

    This fragile economic environment may amplify the effects of boycotts, if not in terms of profit, then in terms of brand reputation. As messaging becomes more common in the news and on social media, the current consumer boycotts in the US will be a test of how effective the strategy still is.

    Garritt C. Van Dyk has received funding from the Getty Research Institute.

    – ref. Consumer resistance is rising in the age of Trump. History shows how boycotts can be effective – https://theconversation.com/consumer-resistance-is-rising-in-the-age-of-trump-history-shows-how-boycotts-can-be-effective-251448

    MIL OSI Analysis – EveningReport.nz –

    March 6, 2025

  • MIL-Evening Report: 50 new urgent care clinics are on the cards. But are the existing ones working? Here’s what we know so far

    Source: The Conversation (Au and NZ) – By Henry Cutler, Professor and Director, Macquarie University Centre for the Health Economy, Macquarie University

    Over the weekend the Australian government announced A$644 million to build an extra 50 Medicare urgent care clinics around Australia. This is on top of nearly $600 million previously committed to establish 87 clinics.

    Once these 50 new clinics open in the 2025–26 financial year, the government says four in five Australians will live within a 20 minute drive to a clinic. While this seems like a worthy pursuit, the question is whether they are worth the taxpayer dollar, when we already have GPs and emergency departments.

    So what does the evidence say? Are urgent care clinics worth the money?

    Remind me, what are urgent care clinics?

    Urgent care clinics provide bulk-billed care for urgent but not life-threatening conditions, seven days a week for extended business hours. No appointment is necessary and anyone with a Medicare card can walk in and receive care. You can search online for your closest clinic.

    Clinics are staffed by GPs and nurses. They treat people who perhaps don’t want to wait for a GP appointment, attend an emergency department or call healthdirect. Injuries and illnesses treated include minor infections and cuts, minor sports injuries and respiratory illness.

    Patients may benefit from urgent care clinics through quicker access to care and lower costs if they would not otherwise be bulk billed.

    They don’t however get to see their regular GP, which may reduce the appeal for patients who value continuity of care, such as those with chronic or mental health conditions.

    Why were they introduced?

    The Australian health-care system faces significant pressures as chronic disease increases, our population ages, and our health-care workforce remains stretched.

    Long emergency department waiting times and ambulance ramping (when an emergency department is too full to accept patients delivered by ambulance) are common across Australia.

    Meanwhile, access to GP bulk-billing services has declined. The government is trying to address this by paying GPs billions more to reduce costs for patients.

    Medicare urgent care clinics were introduced to reduce workload pressure on GPs, take pressure off public hospital emergency departments, and improve access to affordable primary care.

    They were first announced by the Labor Party in 2022 when in opposition. Labor wanted to build its reputation as being “Medicare’s guardian”, a theme continued in the lead up to this next federal election.

    Is there any evidence they work?

    Medicare urgent care clinics were first established less than two years ago. While some states had already introduced these types of clinics, it will take time for Medicare urgent care clinics to embed themselves into the health-care system and for patients to become familiar with them.

    Cost and waiting times are significant factors for people choosing between primary care, urgent care clinics and the emergency department.

    Around 19% of people visited an emergency department in 2022–23 because the GP was not available when required.

    Research suggests many people may have used urgent care clinics to avoid GP co-payments, and many may have used them because waiting times to see a GP were too long.

    People might visit urgent care clinics because the wait to see a GP is too long.
    Irina Mikhailichenko/Shutterstock

    The Albanese government reported there had been one million visits to urgent care clinics as of December 2024 (about 1.5 years after they first opened). While this may seem impressive, it should be viewed in the context of emergency department presentations. There were 9 million of those in 2023–24.

    Direct evidence on whether Medicare urgent care clinics are taking pressure off emergency departments does not yet exist. While research from the United States suggests these types of clinics reduce emergency department presentations, the effects won’t necessarily be the same in Australia.

    The amount of time patients spend in emergency departments continues to rise across Australia.

    Many patients will still use emergency departments despite access to clinics. Around 40% of emergency department presentations address an ailment that an urgent care clinic may handle, but only 16% of people who attend an emergency department think their care could have been delivered by a GP.

    How can we improve their chance of success?

    We need targeted public messaging to make sure patients understand how and when to best use urgent care clinics.

    If we channel minor injuries and illness after hours into an urgent care clinic, rather than funding multiple after hours general practices to remain open, we could reduce health system costs. That is because the cost per patient will go down as the number of patients treated within a clinic increases.

    None of this will work unless we have enough health workers to staff these clinics. Currently there are shortages of GPs and nurses, so urgent care clinics are competing with general practices for their workforce.

    These workforce shortages are less than ideal and could increase GP waiting times or reduce the viability of urgent care clinics. The Mount Gambier urgent care clinic recently went into liquidation amid staff shortages.

    The government has announced additional funding to train more GPs and nurses. Workforce investment is crucial to meet increasing demands, but will take time.

    To the future

    The government has committed more than $1 billion to urgent care clinics to date. Understanding whether urgent care clinics substitute for GP or emergency department presentations, or merely provide additional health-care access, is vital to their success. We need comprehensive and long-term evaluations to fully understand the extent to which urgent care clinics meet their objectives.

    Henry Cutler has previously received funding from Northern Territory Health.

    – ref. 50 new urgent care clinics are on the cards. But are the existing ones working? Here’s what we know so far – https://theconversation.com/50-new-urgent-care-clinics-are-on-the-cards-but-are-the-existing-ones-working-heres-what-we-know-so-far-251261

    MIL OSI Analysis – EveningReport.nz –

    March 6, 2025

  • MIL-OSI Global: The US energy market has its troubles, though it may not be a ‘national emergency’

    Source: The Conversation – USA – By Seth Blumsack, Professor of Energy and Environmental Economics and International Affairs, Penn State

    This Montana refinery processes crude oil imported from Canada. AP Photo/Matthew Brown

    President Donald Trump’s declaration of a “national energy emergency” on his first day in office – and which he reiterated during his address to Congress on March 4, 2025 – might have seemed to echo other national emergencies, like those presidents declared in the wake of the Sept. 11, 2001, terrorist attacks and to deal with the COVID-19 pandemic in 2020.

    But there has never before been a national energy emergency. During the energy crises of the 1970s, President Jimmy Carter declared local or regional energy emergencies in a handful of states. These actions suspended some environmental regulations, such as air-pollution limits for coal-fired power plants, for very short periods to make sure those states’ residents had enough electricity.

    When a president declares a national emergency, he claims significant powers under the National Emergencies Act, which allow him to take steps to solve the emergency. In this situation, Trump might seek to override environmental regulations, order utility companies to buy power from particular power plants, or invoke the Defense Production Act to secure materials needed for power plant construction.

    A natural gas well pad in Washington County, Pa., is one of many sites around the nation where fracking has boosted U.S. energy production.
    Rebecca Droke/AFP via Getty Images

    Six weeks into his presidency, Trump had not taken any action to address this emergency, though during his speech to Congress he said he wants to increase drilling and build a new natural gas pipeline in Alaska. And Trump’s discussion of energy policy has not directly referred to the consumer price hikes expected as a result of the 10% tariffs he imposed on Canadian oil, gas and electricity starting on March 4, 2025.

    Critics of the president’s declaration have described it as a “giveaway” to the fossil fuel industry in the form of looser regulations and measures to make it easier to drill for oil on government-owned land. In fact, the executive order’s definition of “energy” excludes energy generated from wind and solar, as well as efforts to conserve energy – all of which were major parts of the Biden administration’s energy strategy.

    As someone who has studied energy markets for decades, I have seen several events that might qualify as energy-related emergencies, such as meltdowns at nuclear power plants around the world, shortages of electricity and natural gas, and massive power blackouts.

    But over the past 15 years, the United States has become a global energy superpower even without any emergency declarations. The advent of hydraulic fracturing unleashed a wave of oil and gas production, even as U.S. energy demand barely budged. In a time of such energy abundance, there is no clear emergency on the scale of the energy crises of the 1970s. But there are some causes for concern.

    Big increases in domestic production

    One goal Trump’s declaration sets out is to increase what the executive order calls the nation’s “energy security.” Usually that phrase refers to an ability to operate using energy produced within the U.S. rather than overseas – particularly from countries that have long-standing conflicts or disagreements with the United States.

    Based on raw numbers, however, the U.S. is already quite energy secure. In 2023, the nation produced nearly 13 million barrels of oil per day, which is more than any country has ever produced in the history of the oil business. Since 2015, when a federal ban on oil exports was lifted, the U.S. has been increasing the amount of oil it exports every year. And for the past several years, the U.S. has been the world’s leading exporter of gasoline, sending 10% of its total annual production to other countries.

    Since the start of the shale-fracking boom in the mid-2000s, U.S. production of natural gas has also been increasing. The country’s natural gas exports have also risen over the past 10 years, though they have been limited by the number of ports that can handle liquefied natural gas cargo.

    Still a net importer of oil

    The U.S. produces plenty of oil to meet its demands, but not the kinds of oil that American refineries are designed to process into useful fuels.

    Therefore, despite the increases in domestic production, the U.S. is still a net importer of crude oil. In 2023, the U.S. imported almost twice as much oil as it exported.

    And U.S. refineries’ output of gasoline and heating oil depends on imported oil. Most oil refineries in the U.S. are quite old and were engineered to process so-called “heavy” crude oil produced in countries such as Canada, which is historically the United States’ biggest source of imported oil.

    Most of the recent increase in U.S. oil production comes from hydraulic fracturing of shale and is so-called “light” crude oil. Refining light crude would require new refineries or a major reengineering of existing refineries, with new equipment, expanded capacity or both.

    Making those changes would be very expensive. So refinery owners are hesitant to make these kinds of investments because there is a risk that the investments won’t pay off. Because U.S. refineries produce so much gasoline and have limited capacity, the U.S. also continues to import some refined petroleum fuels such as jet fuel.

    A liquefied natural gas tanker ship moves toward Cameron Pass near Cameron, La.
    Washington Post via Getty Images

    A fragile power grid

    Concern over the nation’s aging electric power grid is another focus of Trump’s energy emergency declaration. Experts have been issuing warnings for years. A 2024 study on the national transmission grid commissioned by the U.S. Department of Energy has concluded the U.S. needs to double the size of the grid in the next couple of decades.

    For the first time in nearly half a century, the U.S. is facing the prospect of rapidly increasing electricity demand. The demand for power has always gone up and down a bit with population and the health of the economy, but this time is different. Growth in electricity demand is now driven by the construction of massive data centers and by electrification of cars and heating and cooling systems. The Department of Energy reports that data center electricity use in particular has tripled in the past 10 years and could easily double in the next few years. At that rate, data centers could account for over 10% of all electricity demand in the country before 2030.

    The U.S. supply of power generation in many regions is not ready for this surge in demand. Many power plants – particularly the older ones and those that burn coal – have shut down in the past several years, driven by a combination of economic pressures and environmental regulations. Building new power plants in many parts of the U.S. has become bogged down in regulatory red tape, public opposition and economic uncertainty. The North American Electric Reliability Corp., which develops standards for grid reliability, has placed over half of U.S. states at some level of risk for not having enough power generation to meet anticipated future demand.

    A study has found that the nation’s electricity grid is expected to need significant investment to handle rising demand.
    Paul Bersebach/MediaNews Group/Orange County Register via Getty Images

    Will declaring an emergency help?

    Under Trump’s energy emergency declaration, the administration seems likely to take actions that will make it easier to drill for more oil and gas. And the federal government may also make it easier to build power plants that run on coal, natural gas and possibly nuclear fuel.

    But expanded fracking, in and of itself, will probably not address any energy security issues in the U.S., unless there are major investments in refineries to handle the increased oil production. Reducing the barriers to building power plants addresses a much more pressing problem, but the country would still need to expand the transmission grid itself, which does not get as much attention in the president’s declaration.

    Time will tell whether the energy emergency declaration will be used to solve real problems in the nation’s energy supplies, or whether it will be used to further bolster oil and gas producers that have already made the U.S. a global energy powerhouse.

    Seth Blumsack receives funding from the U.S. National Science Foundation, Department of Energy, NASA, the Alfred P. Sloan Foundation and the Heising Simons Foundation.

    – ref. The US energy market has its troubles, though it may not be a ‘national emergency’ – https://theconversation.com/the-us-energy-market-has-its-troubles-though-it-may-not-be-a-national-emergency-249336

    MIL OSI – Global Reports –

    March 6, 2025

  • MIL-OSI Russia: Transcript of Press Briefing on the Completion of the Third Review for the IMF Extended Fund Facility for Sri Lanka

    Source: IMF – News in Russian

    March 5, 2025

    PARTICIPANTS:

    PETER BREUER

    Senior Mission Chief for Sri Lanka

    KATSIARYNA SVIRYDZENKA

    Deputy Mission Chief for Sri Lanka

    MARTHA TESFAYE WOLDEMICHAEL

    Resident Representative in Sri Lanka

    MODERTOR:

    RANDA ELNAGAR

    Senior Media Officer

    TRANSCRIPT:


    Ms. Elnagar:      Good morning to our participants who are joining us from Asia and good evening to our participants in DC. Welcome to the press conference on of the Third review of Sri Lanka’s Extended Fund Facility Arrangement with the International Monetary Fund. I am Randa Elnagar, with the IMF’s communications department.

    I am joined today by three speakers. Peter Breuer, IMF’s Senior Mission Chief for Sri Lanka; Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka; and Martha Tesfaye Woldemichael, IMF’s Resident Representative in Sri Lanka.

    By now you should have seen the press release, which we issued on Friday and the staff report is not on IMF.org. First, Peter will give some opening remarks, and then we will take your questions.

    We are kindly asking you to mute your microphones throughout the briefing, unless you are asking a question. Peter the floor is yours.

    started transcription


    Mr. Breuer:     Thank you, Randa. Good morning, all, thank you very much for being here and for your interest in Sri Lanka’s IMF-supported economic reform program.

    I am pleased to announce that, on Friday February 28, the IMF Executive Board approved the third review under the 48-month Extended Fund Facility Arrangement with Sri Lanka. This provides the country with immediate access to about US$334 million to support its economic policies and reforms.

    It brings the total IMF financial support dispersed so far to about $1.3 billion.
    The IMF continues to support Sri Lanka’s efforts to restore and maintain macroeconomic stability and debt sustainability while protecting the poor and vulnerable rebuilding external buffers. Safeguarding financial sector stability and enhancing growth oriented structural reforms, including by strengthening governance.

    The IMF Executive Board’s approval to complete the third review recognizes the strong program performance. All quantitative targets for end December 2024 were met, except for the indicative target on social spending.
    Most structural benchmarks do by end January 2025 were either met or implemented with delay.

    Turning to through the macroeconomic situation, it is encouraging to see that reforms in Sri Lanka are bearing fruit with the economic recovery gaining momentum, inflation remains slow.

    Revenue collection is improving and reserves continue to accumulate.
    Economic growth averaged 4.3% since growth resumed in the third quarter of 2023.
    The recovery is expected to continue in two thousand 2025 now. Despite these positive developments, the economy is still vulnerable.
    It is critical to sustain the reform momentum to ensure macroeconomic stability and debt sustainability.

    And to promote long term inclusive growth, there is no room for policy errors.
    Let me emphasize that sustained revenue mobilization is crucial to restoring fiscal sustainability.

    And ensuring that the government can continue to provide essential services.
    Boosting tax compliance and refraining from tax exemptions are key to maintaining support for economic reforms.

    Let me also emphasize that to ease economic hardship and ensure the poor and vulnerable can participate in Sri Lanka’s recovery, it is important to meet social spending targets and continue with reforms of the social safety net going forward. Social support needs to be well targeted towards the.

    Most disadvantaged, so as to promote inclusive growth with limited fiscal space.
    Restoring cost recovery, electricity pricing without delay is needed to contain fiscal risks from state owned enterprises.
    A smoother execution of capital spending within the fiscal envelope would foster medium term growth.

    The recent successful completion of the bond exchange is a major milestone towards restoring debt sustainability, timely finalization of bilateral agreements with creditors in the official creditor committee, and with remaining creditors is a priority now. Regarding monetary policy, I would like to highlight that it should prioritize maintaining price. Stability supported by sustained commitment to prohibit monetary financing and.

    To safeguard central bank independence. Continued exchange rate, flexibility and gradually phasing out the balance of payments measures remain critical to rebuild external buffers and facilitate rebalancing.

    As for the financial sector, resolving non performing loans, strengthening governance and oversight of state owned banks and improving the insolvency and resolution frameworks are important priorities to revive credit growth and support the economic recovery.

    Finally, prolonged structural challenges need to be addressed to unlock Sri Lanka’s long term potential, including steadfast implementation of governance reforms.
    I would like to thank the authorities for their commitment and excellent collaboration.

    Let me also take this opportunity to announce that as part of a standard staff rotation process, I will soon be transitioning from the role of mischief for Sri Lanka.
    And I will be handing over to the next mission Chief Evan Papageorgiou, during the next mission. It has been an honor to accompany Sri Lanka on his journey out of this.

    Severe crisis for nearly three years. While there are more challenges ahead, the IMF team will remain a steadfast partner for Sri Lanka and its people on the road to a more sustainable and inclusive recovery.
    I will be moving to another assignment soon and wish the people of Sri Lanka continued success with the economic recovery.
    With this, let me hand it back to Rhonda. Thank you.


    Ms. Elnagar:     Thank you so much, Peter.
    Colleagues, please raise your hand and identify yourself if you want to ask your question and turn on your camera, if possible and the mic. Thank you. I see the first hand, please.


    QUESTIONER:     Thank you, Randa. This is Shihar Anis from economy next.
    I hope you can hear you.


    Ms. Elnagar:     We can hear you well, Shihar. Thank you.


    QUESTIONER:     OK. So my question is now there is a delay in the SOE restructuring because we don’t see the same speed that the previous government was doing, the SOE restructuring this government has been. Basically, they are not into privatization, but they are looking into a different model. How concerned are you on that? You know, delay or the current restructuring model.
    Thank you.


    Ms. Elnagar:     Thank you. We’ll take another couple of questions and then answer them in groups.


    Ms. Elnagar:     The audio. Zulfiq there is a lot of static on your mic.


    QUESTIONER:     Hope you can hear me. I have two questions. That is, it has come to light that the Sri Lankan Government plans not to proceed with the imputed rental income tax as a revenue measure. So has this been discussed with the IMF and is there any other alternative that is being put forward and at the same time, what is IMF stake on the budget that was presented recently?


    Ms. Elnagar:     Let’s take another question. Sampath, please.


    QUESTIONER:     Hi I’m Sampath Dissanayake from BBC Sinhala service.
    The government is increasing the tax as per the IMF advice to increase government revenue. The number of people receiving Social Security benefit in benefits in Sri Lanka is increasing annually. So do you believe that the increase in tax burden is increase for reason for this?


    Ms. Elnagar:      Peter, we can take these three questions.


    Mr. Breuer:     Yes, thank you very much. So let me answer some of the questions.
    On the budget and fiscal, and maybe Katie can answer the question on the.
    SOE reforms so the. Imputed rental income tax was a measure proposed by the previous administration as part of a possible revenue package for 2025, and the new authorities have proposed a slightly different package that is aligned with their mandate and priorities. And staff and the authorities have assessed that this package is sufficient to meet the revenue targets under the program. Now of course, should those measures prove insufficient, then additional revenue measures would be needed. And so that also. Ties in with the question on the budget and tax revenues. So yes, we have looked at the budget. And have, of course, disgusted with the authorities. There’s more detailed explanation in the staff report that should be online now, so there’s a table on page 12 that kind of lists some of the main measures needed to. reach the goal for tax revenue for next year. Yeah, reallybthe objective here is as you know tax revenue was a key driver of the crisis in 2022.
    Sri Lanka was the lowest that the country with the lowest tax take amongst.
    Middle income countries and low income countries in the world, and so it has made significant progress since then. Tax as a share of GDP, he has increased by 5 percentage points from somewhere. You know 7 to somewhere 12.4% or so last year. So that’s a significant increase, but by no means is excessive and. The essential services that the government provides need to be funded and for that reason.
    Working on ensuring that there is sufficient tax revenue remains a priority.
    And so social services, which was the 3rd question is just a portion of the overall essential services that that the government provides and is just a component on that actually. Maybe Marta can add on that point and cut you a can speak to the SOE reforms.


    Ms. Svirydzenka:     So should I go first? OK. So on the on the SOE restructuring, the most crucial element is that the state owned enterprises are managed in a prudent manner so as to avoid the accumulation of losses or debts that then would eventually need to be repaid by the taxpayers. And in that sense, the SOEs can be managed prudently while remaining state owned or they can be divested partially or completely.

    We are reassured by the authorities commitment to ensure that this enterprises do not become a burden for the budget or for the government debt in terms of other key elements under the program has been the cost, reflective pricing of services provided by so especially in the area of electricity and fuel prices. Other commitments under the program include making SOEs more transparent, in particular by publishing audited financial statements of the largest, SOEs in a timely manner.

    And then finally, to allow the economy to grow, it is important that the consumers of services receive the best value for the price of being charged. So this involves running, SOEs in the most efficient manner and ensuring that they are following the best governance principles. So in that sense, we’re quite satisfied with the progress, yes.


    Martha Tesfaye Woldemichael:     So let me maybe come in then to compliment a bit Peter’s response on the social spending, right. So there’s a question. Why social spending is increasing? I think this is a good opportunity to remind that protecting the poor and vulnerable is really an important component of the EFF program. So the EFF supports this objective through the different reforms through macro stabilization. But importantly, there is also a floor on social spending in the program that we assess on a quarterly basis. So this means the government has to spend a minimum amount to protect the poor and vulnerable.

    So in this context, the key commitment is really for the authorities to continue strengthening the coverage, the adequacy and the targeting of social spending. So recent announcement related to the expected decrease in the payments, for instance for the poor and extremely poor categories under a ASWASUMA or the.
    Announcement that the payments would also increase for the elderly, the disabled and chronic kidney patients are aligned with the authorities commitments to continue strengthening, strengthening social safety Nets and I think it is also very important to make sure that this coverage under the ASWASUMA program. Is above the poverty rates that are currently observed. I think I will stop here. Thank you very much. Back to you, Randa.


    Ms. Elnagar:     Thank you, Martha. We’re first going to take a question from Kelum.
    I think Shihar you had your hand raised, so it’s from the first question. So if you can, please put your hand down because it’s a bit confusing, but we’re going to go to Kellum 1st and then Asante. So Kelum, please go ahead.


    QUESTIONER:     Thank you. Can you hear me?


    Ms. Elnagar:     Yes.


    QUESTIONER:     Yes, I’m Kelum Bandara, from Daily Mirror newspaper. So my question is wanting the overall assessment about the budget, actually that was answered was that next day and the next question is, how important is it for the government to proceed with this Economic Transformation Act to reach the economic targets? Actually in searching by MFN or for the broader infrastructure of the country.


    Ms. Elnagar:      Thank you Asante. If you can, please pose your question.


    QUESTIONER:     Yeah, so, the government has started the import duty on vehicles, which just knocked out earlier. Yeah, I think all the taxes were kind of like excise taxes. And so have you made any assessment on whether this will lead to an increase in assembled vehicles, which earlier didn’t get this tax protection and how much leakage of revenue might happen to the assembled sector and whether any effect to publish a kind of a tax expenditure statement to say how much of the import duties lost due to any increase or the sales of the assembled vehicles which are like got CKD, I think tax free the parts and also have you had any discuss? With the central bank. On offloading their government securities now that the Treasury bills

    Ms. Elnagar: Thank you, Asantha. There is a question in the chat which we’re going to take and then move to the ones online. Amal, you didn’t verify your organization.


    QUESTIONER:     Oh, and I have actually done that. I’m from AFP, the French news agency, Agence France Press.


    Ms. Elnagar:     Hi would you like to ask? Yeah, because you post in the in the chat.


    QUESTIONER:     Oh yeah. I mean, if you want to save time, can just answer that.
    I mean basically I was trying to ask Peter how concerned you are about sort of emerging labor unrest, particularly now in the medical field. The doctors are threatening to go on strike from tomorrow, although there is a pay increase that the increase is less than the. Reduction of their allowances. So this is something that affects a lot of not just the medical sector. So how concerned are you that this kind of growing unrest, labor unrest, how it will affect the overall IMF backed program?


    Ms. Elnagar:      Peter, do you want to take another question?
    So they are three. So I think Indiqa is next.


    Mr. Breuer:      Well, there’s actually an under. It feels like there’s a bunch of questions.
    Should we try and answer these?


    Ms. Elnagar:      OK. Sounds good.


    Mr. Breuer:      And maybe Katya can speak to the Economic Transformation Act.
    And also to the central bank question so. On this important question with respect to the potential for unrest. Well, I suppose there is potential, but I think what really should be remembered is that this budget really sought to address some of the concerns that the government and ourselves have hurt that. You know, civil servants have been concerned about. The wages that they have been receiving and so.
    There is for the first time in a long time, an increase in civil service wages, while at the same time the personal income tax regime is were being changed and reducing personal income taxes considerably, at least for some. Income earners, including civil servants, you have to remember who are the ones who earn an income and pay taxes that really is the upper 20% of income earners in Sri Lanka. There has been a massive crisis in 2022 with huge costs to the population of Sri Lanka and in order for the government to keep on providing the essential services that the citizens of Sri Lanka expected, expect the government to provide and in order to bring along the poorer segments of society. Everyone who can needs to make a sacrifice.
    This is how the society can pull together and continue to function, and so.
    I think we all know how painful this crisis has been there’s no doubt about it.
    We have travelled around the country, we have met with many people.
    You know the plantation workers in Noro, alia have shown us their income statements and their bills. And it was very, very clear that this is a very severe crisis, but how else to address it. So, sticking with the reforms is really the best way out for Sri Lanka to assure its sustainability, and I think it’s important for everyone in Sri Lanka to recognize that.

    If you put it into the broader perspective the adjustment, this is the last budget.
    Where there is still a bit of an increase in in revenue is needed 1.5 percentage points of GDP, but all the hard adjustment has already taken place in the previous two years. You know revenue have increased 5 percentage points of GDP over the last two years. This is, you know, the last sort of big push. Not quite as big as in the previous years, and there after it’ll be much easier going forward.

    So on the cars I mean that’s a specific question. Does is there some import substitution? I can’t answer that. I would assume that after five years or so of a ban of imported cars that there will be some demand for finished cars from overseas.
    I do take your point that it’s possible that there may be some assembly of cars domestically.

    Katya, can you answer the other two questions please?


    Ms. Svirydzenka:     Sure. So on the economic transformation, bill, we understand there was a recent announcement that the new government will propose amendments to the bill. And so we look forward to reviewing the amended economic transformation bill. We expect it to be consistent with program objectives, including for example with the authorities’ commitment to refrain from granting tax.
    Incentives until the STP act is revised to provide clear and transparent criteria on the granting of tax incentives on the. Central Bank Securities, I understand the question was that the Central Bank has sold T-bills but has a stock of on marketable bonds. And this is correct. And under the program at this point, because there’s no market for this restructured bonds, we do not envision they unwinding of this stock and over the next 12 months you can see it in the program targets in table one on page 95 of the published report under the category of net credit to the government.
    I hope that answers the question. If I understood it correctly.

     

    QUESTIONER: So, I am trying to find out what’s the alternative if you want to sterilize the inflows. I mean, kind of issuing central banks equity or something, but you have reserve target.


    Ms. Svirydzenka:     Is this more than a question about the operation of monetary policy and how to sterilize reserve accumulation?


    QUESTIONER:     Yeah. Yeah. Because you don’t you?


    Ms. Svirydzenka    : Perhaps I misunderstood.


    QUESTIONER:     You no longer have the tables to sell. What is the alternative securities they can sell to build?


    Ms. Svirydzenka    : Yes, I understand. Thank you so much for clarifying. Yeah. So there are many alternatives that the Central bank can use. For example, they can engage in repo operations or also issue their own securities. But I guess what is important to highlight for your question is that the Central Bank so far has been able to meet the inflation target and if anything, they’re a little bit undershooting as you saw with the breach of the MPCC clause in June and in December. So in that sense, the central bank is quite effective in terms of reaching the inflation objectives and we think the tools they have in their, in their in their hands should be enough.


    Ms. Elnagar:      Thank you, Katya. We have more questions, Peter.
    We have Indika first please.


    QUESTIONER:      Hi, Randa. Thank you, I think. I hope I’m audible.


    Ms. Elnagar:     Yes you are.


    QUESTIONER:     My questions, question to Peter is in the budget, there is a budget proposal to recruit about 30,000 people to the public sector. So we already have a bloated public sector in the country. So what’s your what’s IMF’s opinion on that? And the other question is on their flight, electricity, the price, reflective electricity tariffs. So we were under the impression that that is already happening because the government is already. Adjusting prices periodically, but in the press release that was released on Friday. The sort of insinuated that Sri Lanka S deviated. What is what is the situation there? Thank you.


    Ms. Elnagar    : Peter, we can take a couple more questions this round.


    QUESTIONER:     Randa, I hope I’m audible.


    Ms. Elnagar:     Yes you are.


    QUESTIONER:     Great. I just have one question. Peter, could you please outline what are the key goal posts that Sri Lanka has to hit as it moves forward to the 4th review now, right. And when will there be an IMF delegation coming to Colombo?
    Thank you.


    Ms. Elnagar:     We can take more questions. There are two questions in the chat, Peter, One is asking, why was the proposed property tax under the IMF program withdrawn, and why wasn’t the existing under taxed Council tax system rebased instead? How much revenue was expected from the input rental tax and why could this be? Couldn’t this be raised adjusting Council taxes? There’s another one we can take, or that’s enough for now this round.


    Mr. Breuer:     Yeah. Why don’t we get going with these ones? Thank you.


    Ms. Elnagar:      Yeah, because Shehar already had a chance at the beginning, so let’s take a different group now. Thank you.


    Mr. Breuer:     So thanks so much for these questions. On the size of the public sector, that’s really not for us to judge the government needs to sort of identify the resources it needs to provide the services that it’s expected to provide.
    And do all of that within the envelope of the program. So there may be other institutions. The World Bank, for example, you know that can provide some more assistance, technical assistance to help with making the government as efficient as as possible. But. I don’t really have a comment there. The electricity tariff.
    So there was a reduction in the electricity tariffs in January, and this is when we feel that the cost reflective pricing was no longer met because on a forward-looking basis. That tariff cut meant that Ceb wouldn’t be able to avoid any losses.
    So these cuts. Essentially, at least on a forward-looking basis, implied that losses would be run now of course. These profits and losses by the electricity company depend on many factors, including the weather, the rain and so forth.
    So what turns out ex post may be different from what happens ex ante, but this is a concern that we have because it could mean that that starts building up again in the electricity company. That could ultimately become a contingent liability for the government. This is something that, of course, Sri Lanka has experienced before, and avoiding this and making sure that consumers on average pay for how much it costs to generate and distribute the electricity is an important part of the program.

    And this actually also goes towards answering the question of what are some of the main goal posts for the 4th review. So ensuring that cost reflective energy pricing is restored is of course a key. Part of what we would like to see for the next.
    Review I should say there are some mechanisms that give us hope that this will happen automatically. The SD bulk supply transaction account, which is sort of a mechanism that is supposed to kick in when losses at CB become too large when they are cash balances become. You know, negative beyond a certain value.
    Then there’s meant to be an automatic increase in the tariff. That would prevent these losses from accumulating, so so they are already mechanisms in place.
    It’s important that these mechanisms be allowed to function, and then, of course, at the next tariff setting, it’s important to ensure that tariffs will once again be set to  cover the costs. Another important Issue for the next review will of course be.
    The budget that the budget that is finally passed at the end of this month is in fact consistent with the program parameters. So this is something that we will be watching very carefully. So those are two issues that may matter.

    The next mission we expect to be visiting Colombo.in the coming weeks or months or so. So the exact dates will be announced closer to the time.
    With respect to the property tax. That is a property tax. Is very common in many countries it is a form of wealth tax whereby those who have more wealth, meaning more expensive homes, larger homes that are worth more, need to make larger contributions to the tax coffers and support the government. So, now it’s it had been discussed for quite some time previously, and in fact many preparations have been made under this program for property tax with respect to, you know sales price and rents register, and various databases to estimate the values of homes. So lots of preparations have been have been made. Then there were some concerns and this goes towards the question with respect to the local authorities how this tax could be raised and how it could be shared with at the at the central government level. So some of these issues still need to be resolved and so this is this is something I think that is as yet you know to be addressed. Let me stop there. Thank you.


    Ms. Elnagar:      Peter, we can take a couple more questions because we are out of time. So we can take from Sisira, who has been waiting patiently, and then we have a couple of questions in the chat. So Sisira, please go ahead. We can’t hear you.
    Sisira do you have a question? You have your hand raised?


    QUESTIONER:     Yeah. Can you hear me?


    Elnagar, Randa Mohamed:     Yes.


    QUESTIONER:      My question is, what is the impact?


    Ms. Elnagar:     Your mic is a bit muffled.


    QUESTIONER:     Can you hear me?


    Ms. Elnagar:     Peter, can you hear him?


    Mr. Breuer:     It’s very, very soft. I don’t know whether you can bring the mic closer to him.


    QUESTIONER:     Yeah, my question is what is the projected impact of Sri Lanka’s foreign reserves?


    Mr. Breuer:     I think the question is what is the impact of the car imports on reserves? Yeah, OK.


    Ms. Elnagar:     Vehicle import. Yeah. And then we have a couple of questions here.
    Amal already asked the question, a supplementary question regarding what Asantha raised about vehicle imports. So it’s the same topic and then we have. One from Ishara. Even though the IMF program has put Sri Lanka’s economy on the right track, a recent poverty study revealed that more than 50% of households are below the poverty line. Additionally, the Central bank mentioned that brain drain could severely impact efforts to accelerate growth. In this scenario, how can Sri Lanka reach its anticipated IMF recovery targets? And these are the last questions of the press conference.


    Mr. Breuer:    :Yeah. Thank you very much. On the car imports. So yes, removing the import restrictions on car imports will allow cars to be imported which means they have to be paid for and so that could have an impact on the balance of payments. But as you know there’s a question to what extent you know the Central bank should intervene to make those reserves available versus allowing the exchange rate to fluctuate in response to market forces. So, that is something that remains to be seen, but maybe just to highlight the fact that reserves have increased. Significantly, so far under the program they have reached about half of the program objective already, which is very impressive.

    On the question with respect to the anticipated IMF recovery targets, so. I think it’s quite clear that things really have turned around significantly in Sri Lanka. I mean, you all live there, so you experience it much more than us. But when I first got to Sri Lanka in June 2022. Everybody was standing in a line somewhere in, you know, to get fuel, to get cooking gas to get food or medications and economic activity was was very subdued, I think in real terms. Sri Lanka lost, you know, 10% or so of its economic activity. As a result of this crisis and since then in the short amount of time.
    That the program has been there basically since 2023 it has already recovered 40% of the income it has lost. In the preceding five years, so in a very short amount of time, you have already a very significant recovery. You have the most recent growth number of 5.5%.

    So I think things are turning around significantly in Sri Lanka and that will have an impact on the indicators that we care about, such as poverty, so.
    As economic opportunities return to Sri Lanka. Incomes will increase and poverty will be reduced, and also it’ll be more attractive to remain in Sri Lanka and not leave and emigrate or those who have emigrated may find opportunities back in in Sri Lanka again so. You know, as you look at our projections, we have increased these quite a bit. For 2025 and beyond and so based on these, I would say I’m quite optimistic about the recovery in Sri Lanka.


    Ms. Elnagar:     I think we’re out of time, Peter. If you guys have any further questions, please, please feel free to send them by e-mail. We are always very responsive or via WhatsApp. With that I would like to thank our speakers Peter, Katia, and Martha, and I would like to thank you all for participating in this press conference.
    We’re going to be posting the recording and the transcript by tomorrow.
    And we look forward in seeing to seeing you again in the future.
    Thank you very much.


    Mr. Breuer:      Thank you.

     

    Ms. Woldemichael: Thank you.


    Ms. Svirydzenka:     Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/03/05/tr-030525-sri-lanka-transcript-of-press-briefing-on-completion-of-3rd-rev-for-eff

    MIL OSI

    MIL OSI Russia News –

    March 6, 2025

  • MIL-OSI USA: Cotton, Banks: States Should Fight True Child Abuse, Not Punish Parents for Rejecting Sex Changes for Minors

    US Senate News:

    Source: United States Senator for Arkansas Tom Cotton

     

    FOR IMMEDIATE RELEASE
    Contact: Caroline Tabler or Patrick McCann (202) 224-2353
    March 5, 2025

    Cotton, Banks: States Should Fight True Child Abuse, Not Punish Parents for Rejecting Sex Changes for Minors

    Washington, D.C. — Senator Tom Cotton (R-Arkansas) and Jim Banks (R-Indiana) today reintroduced legislation to stop state governments from discriminating against parents who oppose “gender transitions” for children. The Guaranteeing Unalienable and Anatomical Rights for Dependents (GUARD) Act would make a state government ineligible for Child Abuse Prevention and Treatment Act (CAPTA) funds if that state discriminates against a parent or guardian in custody disputes for opposing medical treatment, clothing changes, or social changes related to a child’s subjective “gender identity.”

    “If you don’t let your kid ‘transition’ to the opposite sex, certain state governments will help remove them from your custody. It sounds like dystopian science fiction, but it’s happening in the United States of America. Our bill would take funding away from states that abuse their power by taking away parents’ rights simply for opposing radical gender experiments,” said Senator Cotton.

    “The government has no business punishing parents for protecting their kids from radical gender ideology. My bill ensures that states respecting parental rights aren’t strong-armed into embracing dangerous social experiments,” said Senator Banks.

    This legislation is supported by the American Principles Project, Family Policy Alliance, Concerned Women for America Legislative Action Committee, and Heritage Action.

    Full text of the bill may be found here.

    The GUARD Act would:

    • Make any state government ineligible for Child Abuse Prevention and Treatment Act (CAPTA) funds if they discriminate in child custody disputes, child services, or cases against a parent or guardian based on their opposition to medical, surgical, pharmacological, psychological treatment, or clothing and social changes related to affirming the subjective claims of so-called “gender identity” expressed by any minor, if such claimed identity is at odds with the minor’s biological sex.
    • Create a private right of action for individuals to sue if they were subject to the prohibited discrimination. If a suit is successful, CAPTA funds granted to the state are required to be returned to the Treasury. 

    Background:

    • Left-leaning states such as California, Oregon, and Washington have been removing children from their non-affirming parents’ care for years. This violates the religious freedom, conscience, and medical rights of parents.
    • In the case of Abby Martinez, her daughter was removed from her care. She ultimately committed suicide.

    MIL OSI USA News –

    March 6, 2025

  • MIL-OSI Europe: President Nadia Calviño opens third edition of EIB Group Forum, highlighting security and economic prosperity as mutually reinforcing

    Source: European Investment Bank

    • The EIB Group Forum brings together senior policymakers, business leaders, academics, and civil society representatives to discuss Europe’s prosperity, security and global cooperation.
    • President Calviño puts security of our societies at the heart of the EIB Group’s activity, thanks to investments in industries, security and defence, energy grids, green transition, social infrastructure and global partnerships.    
    • The launch of the flagship EIB Group Investment Report calls for EU market integration, simplification and investments in innovation, echoing the most recent European Commission initiatives.

    Nadia Calviño, President of the European Investment Bank Group, inaugurated today the third edition of the EIB Group Forum, emphasising the critical role of investment in shaping Europe’s economic future, and the focus on security in everything the EIB Group does.

    “In such turbulent times, it’s back to basics – we must safeguard “security” – said President Calviño. This is a big word, with many facets, which includes an environment of freedom and peace for our countries, stability, certainty and opportunities to grow for our businesses and it means an inclusive society where people are confident about the future for themselves and their children… Security and shared economic prosperity are mutually reinforcing and work in tandem. In this sense, every euro invested by the EIB Group is an investment into our collective security”.

    Security and Defence

    During her speech, President Calviño said that following a comprehensive market testing, the EIB will propose to its Board of Directors later this month that the EIB Group further expands its security and defence financing eligibilities, to ensure that excluded activities are more precisely defined and as limited as possible in scope. This will enable the EIB Group to respond to financing needs in a way which safeguards the EIB’s operations and financial position.

    “There is a need to join forces, and have a coordinated approach, where each institution focuses on where it can provide more value. These changes reflect the EIB Group’s readiness to remain responsive and relevant in a shifting global landscape”, added President Calviño.

    The EIB Group also intends “to embed the existing eight billion euros programme into a new cross-cutting and permanent public policy goal”.

    Please find here the President’s speech and here the full Forum agenda, taking place in Luxembourg from 5-7 March. You can also watch and download the full recording here on EBS / Europe by Satellite.

    EIB Group Investment Report

    During her address, President Calviño highlighted the EIB Group Investment Report 2024/2025, the flagship economic report of the EIB Group that provides a comprehensive analysis of investment trends based on a survey of about 13,000 European firms.

    “The report confirms that there are three main levers to boost Europe’s competitiveness and security: market integration, simplification and large-scale investment in innovation. The EIB Group is playing its part across all three of these levers”- said President Nadia Calviño.

    “To secure Europe’s future, we must prioritise structural transformation, innovation, digitalisation, and decarbonisation. Increasing our investments in these vital areas, along with dedicated financing for scaling key technologies, is essential. The findings of our Investment Report serve as a crucial roadmap for policymakers and investors, guiding us through the challenges and opportunities that lie ahead. The new geopolitical context only reinforces the urgency to act.” added EIB Chief Economist Debora Revoltella.

    Key findings from the EIB Investment Report:

    A significant portion of European firms faces challenges due to market fragmentation, emphasizing the need for a unified market.

    Additionally, the report highlights Europe’s robust industrial and research base as an opportunity to leverage artificial intelligence and digital technologies in industrial processes, pointing to the substantial productivity gains that can be achieved through the integration of AI into manufacturing and services.

    The findings also underscore that Europe’s ambitious climate policies are beginning to bear fruit, with notable advancements in renewable energy and securing Europe as a central node in Greentech patenting global collaborations.

    A consistent regulatory framework is presented as a driver for investment in sustainable technologies, with the recent wave of simplification bringing pragmatism, while preserving clarity on long term direction of travel. Moreover, the EIB’s analysis indicates that social investment brings economic returns, particularly in addressing the skills gap.

    Enhancing labour force participation, especially among women, could lead to significant economic benefits for Europe. Finally, the report stresses the importance of targeted policy instruments and EU-level coordination in maximizing the impact of public investment. Tailored support mechanisms are shown to significantly enhance the likelihood of firms investing in energy efficiency and innovation.

    Additional information on the EIB Investment Report is available here.

    Background information

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: At a Glance – Current membership of the European Council – 05-03-2025

    Source: European Parliament

    The European Council consists of the 27 Heads of State or Government of the EU Member States, who are voting members, together with the President of the European Council and the President of the European Commission, who have no vote (Article 15(2) Treaty on European Union). The chart shows the current members, the national office they hold, their most recent European political affiliation, and the year their membership began.

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Answer to a written question – Commission plans to reduce the budget and personnel of delegations around the world – P-002951/2024(ASW)

    Source: European Parliament

    In her appearance before the European Parliament’s Committee on Budgetary Control (2023 discharge), the High Representative/Vice-President (HR/VP) stated that, in principle, no EU Delegations would close, while underlining that the European External Action Service’s effectiveness and efficiency could be further improved in close coordination with the Commission with regard to its staff in EU Delegations and their functions.

    In the context of reduced budgetary resources and the new priorities and policies of the EU, it is necessary to ensure that the Delegations network is able to effectively deliver, including with relevant expertise in the field and new EU priorities.

    The EU will continue to strengthen and develop relations with partners globally, acting together with Member States in a Team Europe approach.

    In Africa, the EU will aim at consolidating a partnership of equals, notably through a co-investment agenda under the Global Gateway[1], as stated in the HR/VP hearing.

    Moreover, EU Delegations are key in promoting the EU’s foreign policy objectives including by reinforcing and sustaining the EU’s fight against foreign information manipulation and interference.

    The EU Delegations play an essential role in the EU’s representation on the global stage. In the current complex geopolitical context, including with the EU’s main partners, the EU will continue to reflect and examine on the effectiveness and efficiency of its Delegations network around the world.

    No decision has been made on strengthening the EU’s presence in any particular country.

    • [1] https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/stronger-europe-world/global-gateway_en
    Last updated: 5 March 2025

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Answer to a written question – Enforcement of the Digital Services Act (DSA) vis-à-vis large social network platforms in the light of recent allegations of algorithmic bias and foreign interference – P-000143/2025(ASW)

    Source: European Parliament

    Democracy is a core value of the EU, with free and fair elections at its heart. Member States are responsible for organising elections according to national constitutional rules, legislation, international obligations, and EU law.

    The Commission supports Member States and competent authorities in election matters[1]. For example, ahead of the German federal election in February 2025, the Bundesnetzagentur and the Commission organised an election roundtable[2] and a stress test[3], with very large online platforms (VLOPs) and very large online search engines (VLOSEs), German authorities, and civil society organisations.

    Signatories of the EU Code of Conduct on Disinformation, which also contains commitments related to elections, also activated the Rapid Response System (RRS) for the German elections[4].

    The Commission has opened four proceedings[5] to address risks to civic discourse and elections focusing on the design and functioning of online platforms’ systems .

    The Commission recently ordered the provider of X[6] to preserve documents on future changes to the design and functioning of its recommender algorithms for information on past changes and access to certain technical interfaces to allow fact-finding on content moderation and virality of accounts.

    The Digital Services Act (DSA) requires providers of VLOPs and VLOSEs to give researchers access to public data and more far-reaching data to identify systemic risks. For the latter, the Commission is preparing a delegated act[7].

    • [1] The Commission has published guidelines for providers of VLOPs and VLOSEs on the mitigation of systemic risks for electoral processes, https://digital-strategy.ec.europa.eu/en/library/guidelines-providers-vlops-and-vloses-mitigation-systemic-risks-electoral-processes
    • [2] https://digital-strategy.ec.europa.eu/en/news/digital-services-coordinator-germany-hosts-roundtable-online-platforms
    • [3] https://digital-strategy.ec.europa.eu/en/news/german-digital-services-coordinator-tests-platforms-readiness-under-digital-services-act
    • [4] Previously used in EU, French and Romanian elections, the RRS allows non-platform signatories to swiftly report time-sensitive content, accounts, or trends that they deem to present threats to the integrity of the electoral process and discuss them with the platforms in light of their respective policies.
    • [5] https://digital-strategy.ec.europa.eu/en/policies/list-designated-vlops-and-vloses
    • [6] https://digital-strategy.ec.europa.eu/en/news/commission-addresses-additional-investigatory-measures-x-ongoing-proceedings-under-digital-services
    • [7] Pursuant to DSA Article 40(13).
    Last updated: 5 March 2025

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Answer to a written question – Electricity grid / Ukraine – E-000029/2025(ASW)

    Source: European Parliament

    On 28 June 2017, the transmission system operators (TSOs) of Continental Europe signed with their respective counterparts Ukrenergo and Moldelectrica the agreements to interconnect the power systems under the auspices of ENTSO-E (European Network of Transmission System Operators for Electricity).

    Following the start of Russia’s full-scale war of aggression and responding to an urgent request by Ukrenergo and Moldelectrica, on 11 March 2022 Continental Europe TSOs concluded that the conditions for an emergency synchronisation were met.

    Subsequently, the trial synchronisation was completed on 16 March 2022[1]. The TSOs acted in the context of political support expressed at the extraordinary Energy Council meeting of 28 February 2022.

    The European Council meeting of 24 March 2022 endorsed the emergency synchronisation as ‘a remarkable achievement’.

    Ukrenergo has since completed the permanent synchronisation project as confirmed by the Continental Europe TSOs on 28 November 2023.

    • [1] https://www.entsoe.eu/news/2022/03/16/continental-europe-successful-synchronisation-with-ukraine-and-moldova-power-systems/
    Last updated: 5 March 2025

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Answer to a written question – Ensuring housing as a fundamental right – P-000269/2025(ASW)

    Source: European Parliament

    The Commission shares the Honourable Member’s view that housing affordability has deteriorated over the last years. Most Member States are suffering critical housing shortages, and citizens in many Member States consider access to affordable housing a major priority.

    The Commission President’s decision to appoint an EU Commissioner responsible for housing reflects the strong commitment of the Commission to contribute to solutions.

    The Commission has established a Task Force for Housing to coordinate effectively the work strands across the Commission services, and support the Commissioner for Energy and Housing in putting forward the first-ever European Affordable Housing Plan.

    This plan will inter alia reflect on the work of the European Parliament’s Special Committee and aims to address structural drivers of housing crisis and help unlock the public and private investment needed.

    The Commission has started working with the European Investment Bank to establish a pan-European investment platform for affordable and sustainable housing, engaging also with international financial institutions, national promotional banks and institutions and other stakeholders.

    In addition, the Commission plans to tackle systemic issues with short-term accommodation rentals and the inefficient use of the current housing stock. As a first step, the EU has adopted a regulation[1].

    The Commission is also examining how state aid rules for housing could be revised to enable housing support measures for affordable housing and energy efficiency.

    This assessment will take into account among others, the necessity to avoid undue distortions in the commercial housing market and a detrimental effect on social housing, which supports the more vulnerable.

    • [1] Regulation (EU) 2024/1028 of the European Parliament and of the Council of 11 April 2024 on data collection and sharing relating to short-term accommodation rental services (OJ L, 2024/1028, 29.4.2024 https://eur-lex.europa.eu/eli/reg/2024/1028/oj/eng) will apply from 20 May 2026 and aims to increase transparency and obtain data from platforms on short-term accommodation rental services supporting national and local governments in taking evidence-based decisions.
    Last updated: 5 March 2025

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Germany: INERATEC secures €70 million financing commitment for Europe’s largest e-Fuel-production plant in Frankfurt

    Source: European Investment Bank

    Ineratec

    • INERATEC agrees up to €40 million venture debt loan with the European Investment Bank and up to €30 million grant from Breakthrough Energy Catalyst to scale-up its e-Fuel production capabilities
    • Landmark investment follows EU-Catalyst Partnership initiated in 2021 and supported by the Innovation Fund through the InvestEU Programme.
    • Backing demonstrates European commitment to clean energy innovation and follows earlier Horizon 2020 support

    Sustainable e-Fuel production pioneer INERATEC today formally agreed a  €40 million venture debt loan with the European Investment Bank (EIB) and €30 million grant with Breakthrough Energy Catalyst. The combined €70 million backing will finance construction of Europe`s largest sustainable e-Fuel production plant in Frankfurt and e-Fuel research and development of future, key steps in decarbonising aviation.

    The new e-Fuel financing was announced at the EIB-Group-Forum taking place this week in Luxembourg and underscores the strategic importance of e-Fuels in decarbonizing hard-to-abate sectors such as aviation. The new investment will enable INERATEC to scale up production capacity and commercialize its innovative reactor technology, which converts green hydrogen and CO2 into synthetic aviation fuel. The committed project funding, confirmed earlier this year, represents a significant step in commercialisation of INERATEC’s Power-to-Liquid technology, accelerating the transition towards a net-zero future.

    Transforming the Energy Landscape with e-Fuels

    INERATEC’s production process uses hydrogen, which is then combined with CO2 from biogenic sources like biogas plants or industrial emissions, using INERATEC’s Power-to-Liquid technology. This approach enables the production of synthetic crude oil, which can be processed into a range of synthetic fuels, including Sustainable Aviation Fuel (SAF), marine fuels and e-Diesel. The use of CO2, which would otherwise be released into the atmosphere, reduces the carbon-footprint of the fuel and will help to cut carbon emissions.

    At the production site outside Frankfurt, the main feedstock is supplied from the industrial park: the CO2 comes from a biogas plant that recycles waste, and the hydrogen is a by-product from an existing chlorine production facility. By utilizing compact and modular production units, INERATEC’s approach ensures efficient scalability and adaptability to different production sites.

    Beyond sustainable fuels for aviation, the synthetic oil that INERATEC produces can also be used as a base chemical for different sustainable products like plastics. This extends the contribution of INERATEC’s technology to sustainable supply for the chemical industry.

    Scaling Up to Meet Market Demand

    After building and operating plants at demonstration and industrial pilot scale, INERATEC now focuses on scaling up production and optimizing commercial deployment. The funding commitment backed by the EIB and Breakthrough Energy Catalyst will enable the company to deliver commercial-scale production, ensuring a steady supply of e-Fuels to meet increasing market demand and is critical in making synthetic fuels economically viable.  

    The plant will produce up to 2,500 tons of e-Fuel annually that will be delivered to the aviation sector, among others. One long haul flight between Frankfurt and New York uses 80 tons of kerosene. e-SAF from INERATEC could make flying on this route more sustainable by replacing fossil kerosene fully or partially on many flights. This clearly shows the importance of increasing the e-SAF production capacities beyond a pioneer plant. 

    The political requirement to shift to more sustainable forms of energy is supported by the European ReFuelEU Aviation-regulation which requires Airlines to use a minimum e-SAF blend of 1.2% by 2030, creating market opportunities.

    Bridging Innovation and Climate Goals

    The collaboration between INERATEC and the EU-Catalyst Partnership demonstrates how public and private sector partnerships can drive the commercialization of innovative and clean climate technologies. By building on past EU grant support and leveraging new investment mechanisms, this partnership provides a blueprint for scaling up other clean energy solutions.

    Accordingly, it shows the EU’s commitment to support innovative technologies that will help EU industry becoming cleaner and stay competitive. The lending by the EIB is made possible thanks to the support of the InvestEU programme, which is backed by an Innovation Fund top-up guarantee. The Innovation Fund is financed by the EU Emissions Trading System.

    The transformation of the European industry to clean technologies is being driven by a number of technological innovations, including the efficient production of hydrogen. EIB supports the latter by also funding an electrolysis-project by the Dresden-based start-up Sunfire. Sunfire and INERATEC were partners in a research project in 2019, when both enterprises for the first time demonstrated the production of sustainable e-Fuels from air-captured CO2 and solar power in a fully integrated plant.

    EIB Vice-President Nicola Beer said: “The EIB is committed to a competitive net-zero economy, especially in hard-to-decarbonize sectors like aviation. Through partnerships such as the EU-Breakthrough Catalyst initiative, we’re enabling a green transition for transport and are ultimately contributing to making prices of e-Fuels more economical.”

    Mario Fernandez, Head of Breakthrough Energy Catalyst: “INERATEC is on a promising path towards demonstrating that e-fuels can be economically produced at scale with the support of catalytic funding. Decarbonizing aviation requires real-world projects to drive down costs and crowd in investment. Breakthrough Energy Catalyst is proud to partner with INERATEC to accelerate deployment and unlock the potential to make e-fuels a reality.”

    INERATEC CEO Dr. Tim Boeltken commented: “This funding marks a new era for INERATEC. With the funding commitment from the EIB and Breakthrough Energy Catalyst, we are accelerating the industrialization of e-Fuel production. This will make a tangible impact in reducing CO2 emissions in sectors where direct electrification is not feasible. The focus now is on scaling up and deploying our technology where it is needed most.”

    Background information

    The EU-Catalyst partnership was launched in 2021 at COP26 in Glasgow by EU-President Ursula von der Leyen, EIB-President Werner Hoyer and Bill Gates, with the aim to develop large-scale green tech projects based in Europe and boost investments in critical climate technologies. The Partnership creates a blueprint for public-private support for clean tech innovative technologies.

    The European Investment Bank, as implementing partner of the Commission under InvestEU, has been tasked to deploy for the benefit of this partnership up to €420 million, made available from both Horizon Europe (EUR 200 million), and the Innovation Fund, which has committed EUR220 million. Breakthrough Energy Catalyst mobilizes equivalent private capital and philanthropic grants to fund the selected projects. The EU-Catalyst Partnership does not exclude potential additional contributions from EU Member States or other private partners that decide to further support the projects. Interested projects can apply for support through the Breakthrough Energy Catalyst website.

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023.

    All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    Breakthrough Energy is committed to accelerating the world’s journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action, accelerating progress at every stage.

    Breakthrough Energy Catalyst is a novel platform that funds and invests in first-of-a-kind commercial projects for emerging climate technologies. By investing in these opportunities, Catalyst seeks to accelerate the adoption of these technologies worldwide and reduce their costs.

    Catalyst currently focuses on five technology areas: clean hydrogen, sustainable aviation fuel, direct air capture, long-duration energy storage, and manufacturing decarbonization. In addition to capital, Catalyst leverages the team’s energy-infrastructure-investing and project-development expertise to work with innovators on advancing their projects from the development stage to funding and ultimately, to construction. Learn more about Breakthrough Energy and Catalyst at breakthroughenergy.org.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds to mobilise private investments for the European Union’s policy priorities, such as the European Green Deal. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects leveraging the EU budget guarantee of €26.2 billion. To this amount, further guarantees have been added from the EU’s Horizon programme and the Innovation Fund to support initiatives such as the EU-Catalyst partnership. 

    The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.  

    EIB venture debt is a quasi-equity investment product suitable for early and growth stage ventures, combining a long-term loan with an instrument linking the return to the performance of the company. Since 2015, the EIB has invested €6 billion in Venture Debt, backing over 200 companies and realising over 50 exits. With the backing of InvestEU, the EIB aims to support European ventures and scale-ups in the cleantech, deep-tech and life sciences sectors.

    The Innovation Fund: With an estimated revenue of €40 billion from the EU Emissions Trading System between 2020 and 2030, the Innovation Fund aims to support innovative net-zero technologies and support Europe’s transition to climate neutrality. The Innovation Fund contributes a €220 million top-up guarantee to the InvestEU Programme for the EU Catalyst Partnership, having enabled until now more than €100 million in lending from EIB.

    INERATEC is committed to defossilizing and decarbonizing the world. The company produces e-Fuels and e-chemicals: carbon-neutral fossil fuel substitutes for use in the aviation, shipping and chemical industries.

    Its modular, scalable plants use renewable hydrogen and biogenic CO2 to produce synthetic kerosene, gasoline, diesel, waxes, methanol or natural gas. It is building what will be the world’s largest e-fuels plant to date, in Frankfurt, which will produce up to 2,500 tonnes of ultra-low-carbon aviation fuel per year. The company is based in Karlsruhe, Germany and backed by diverse international investors.

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    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Written question – Mandatory relocation of migrants – doubts surrounding the implementation of the Pact on Migration and Asylum – E-000588/2025

    Source: European Parliament

    Question for written answer  E-000588/2025/rev.1
    to the Commission
    Rule 144
    Piotr Müller (ECR)

    Doubts are being raised about the implementation of the Pact on Migration and Asylum as a result of ambiguity about the time frames for migrant relocation and the contents of the pact itself, as well as contradictory statements from government representatives, including the German Foreign Minister. Of particular concern is the question of the forced relocation of migrants, which has been met with resistance from many Member States.

    In light of this:

    • 1.Does the Commission have an up-to-date schedule for implementing the Pact on Migration and Asylum, including the stages and time frames for relocating migrants to other Member States? If so, could it please provide details.
    • 2.Is the Commission considering taking legislative action to withdraw from the Pact on Migration and Asylum due to many Member States’ staunch opposition to the forced relocation of migrants and their concerns about security and societal stability?
    • 3.Given that Polish Prime Minister Donald Tusk has repeatedly stressed to the media that Poland would not implement any migration pact or any provisions of that nature[1], does this mean that the Commission has changed its position of 17 January 2025[2], when it stated that no country was exempt from implementing the migration pact?

    Please provide detailed responses to the above questions.

    Submitted: 9.2.2025

    • [1] https://tvn24.pl/polska/tusk-o-pakcie-migracyjnym-polska-nie-bedzie-implementowala-st8291869?
    • [2] https://www.europarl.europa.eu/doceo/document/E-10-2024-002557-ASW_EN.html
    Last updated: 5 March 2025

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Written question – Agricultural policy comments during Grüne Woche – E-000596/2025

    Source: European Parliament

    Question for written answer  E-000596/2025/rev.1
    to the Commission
    Rule 144
    Gerben-Jan Gerbrandy (Renew)

    During Grüne Woche (Green Week), Commissioner Hansen reportedly said that the time for a one-size-fits-all approach is over: based on available space and population size within each country, different countries should adhere to different rules. He is not open to pleas to reduce livestock. Recently, the Dutch court reprimanded the national government once again for refusing to adopt policies to reduce the nitrogen surplus in the Netherlands, which is damaging the surrounding natural environment beyond the point of no return. Agriculture is responsible for 76 % of Dutch-sourced nitrogen emissions, and the Netherlands has the highest livestock density in Europe. This raises several questions:

    • 1.If EU-wide nature preservation and restoration targets are to be mixed with tailor-made agricultural rules per Member State, can the Commission clarify when the population of an EU Member State is entitled to more or less nature?
    • 2.Can the Commission assess, in relation to harmful ammonia deposits and a manure surplus – both effects of concentrated livestock farming – the capacity of a Member State to sustain its current livestock density without harming EU nature goals and water quality targets?
    • 3.Could the Commission provide us with the scientific basis for rejecting livestock reduction as a policy option?

    Submitted: 10.2.2025

    Last updated: 5 March 2025

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Canada: Improving safety in combative sport: Minister Schow

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

    March 6, 2025

  • MIL-OSI USA: Governor Lamont Commemorates International Open Data Day and Open Data in Connecticut

    Source: US State of Connecticut

    (HARTFORD, CT) – Governor Ned Lamont today is marking International Open Data Day – which is celebrated this year on Wednesday, March 5, 2025 – by highlighting the availability of data from Connecticut state government that is made available to the public through the Connecticut Open Data Portal at data.ct.gov.

    The portal was launched to make data collected by the state government more open and easily accessible to its owners, the residents and taxpayers of Connecticut. It aims to make data easily accessible to individuals, researchers, entrepreneurs, academics, policymakers, and other state agencies to spur innovation and collaboration in the state.

    “Connecticut’s Open Data portal, data.ct.gov, and the related Connecticut Geodata Portal, geodata.ct.gov, provides residents, researchers, reporters, and others with a tremendous amount of information to help make informed decisions,” Governor Lamont said. “The state’s open data efforts are extraordinarily beneficial to our residents, businesses, and governments, as we can make the data instantly available and customizable to the user. With this, we have been able to accurately report spending, learn about the impact of pandemic recovery efforts, assist with human resources planning, economic development, public health, and sustainability, and address historical inequities. Our efforts have already received national recognition, and I look forward to seeing the growing continuation of these open data efforts.”

    Eleven years since its establishment, the Connecticut Open Data Portal continues to make data collected by state agencies accessible to the public to promote government transparency. The portal hosts more than 600 datasets published by state agencies and over 35 data stories that highlight trends in the data hosted on the portal, serving more than 185,000 users in the last year.

    The portal provides transparency on critical topics that impact Connecticut and inform policymakers, employers, and residents. In the past year, additions to the portal have included:

    Other recent open data initiatives in Connecticut include:

    • Convening open data users in state government for Open Data Day on March 5 to learn about open data initiatives in the state and celebrate the open data program in Connecticut.
    • Supporting agency capacity by publishing the Data Visualization and Accessibility Guidelines, which include best practices on developing accessible data visualizations.
    • Inventorying the use of artificial intelligence in Connecticut state agencies.
    • Making data more accessible through the development of new data stories including:

    Open Data Day is an annual celebration of open data – data that can be accessed and used by anyone for any purpose – all over the world. Groups from around the world create local events on the day where they will use open data in their communities. It is an opportunity to show the benefits of open data and encourage the adoption of open data policies in government, business, and civil society.

     

    MIL OSI USA News –

    March 6, 2025

  • MIL-OSI USA: NEA and ACLU Sue U.S. Department of Education Over Unlawful Attack on Educational Equity

    Source: US National Education Union

    CONCORD, N.H. – Today, the National Education Association (NEA), the National Education Association–New Hampshire, the American Civil Liberties Union, the ACLU of New Hampshire, and the ACLU of Massachusetts filed a lawsuit in U.S. District Court in New Hampshire, against the U.S. Department of Education (ED). The lawsuit challenges the Department of Education’s Feb. 14, 2025, Dear Colleague Letter, which threatens federal funding cuts for education institutions nationwide for engaging in diversity, equity, and inclusion (DEI) efforts; and a 14-day window before “appropriate measures” would be taken.  

    The lawsuit argues that ED has overstepped its legal authority by:

    • Imposing unfounded and vague legal restrictions that violate due process and the First Amendment;
    • Limiting academic freedom; and 
    • Impermissibly dictating what educators can teach and what students are allowed to learn.  

    “Across the country educators do everything in their power to support every student — no matter where they live, how much their family earns, or the color of their skin — ensuring each feels safe, seen, and is prepared for the future. Now, the Trump administration is threatening to punish students, parents and educators in public schools for doing just that: fostering inclusive classrooms where diversity is valued, history is taught honestly, and every child can grow into their full brilliance,” said Becky Pringle, president of the National Education Association. “We’re urging the court to block the Department of Education from enforcing this harmful and vague directive and protect students from politically motivated attacks that stifle speech and erase critical lessons. Teaching should be guided by what’s best for students, not by threat of illegal restrictions and punishment.” 

    The Department of Education claims, without legal or factual basis, that a broad range of DEI-related education policies and practices are unlawful. The lawsuit contends that ED has no authority to dictate curriculum or educational programs, and that federal law explicitly protects education institutions’ ability to shape their own curriculum, including programs that reflect and celebrate diversity.

    “For over a century, the ACLU has fought unlawful efforts to muzzle free speech by over-zealous government officials. It’s clear that the Trump administration is trying to shut down speech it doesn’t like – especially when it deals with race in our educational institutions.  The Dear Colleague Letter  is a brazen attempt to intimidate schools into abandoning lawful efforts to create inclusive learning environments,” said Anthony D. Romero, ACLU executive director. “This is a blatant attack on free speech and academic freedom, aiming to deprive students of a full and honest education. We will not stand by as the Department of Education uses fear and coercion to force schools and educators into self-censorship by threatening to strip federal funding.”

    Educators across the country are already feeling the chilling effects of the ED’s overreach. By unlawfully restricting speech and academic freedom, and opening educators to arbitrary and discriminatory enforcement, ED seeks to violate fundamental constitutional and legal protections. In response, the lawsuit challenges the letter on four key legal grounds:

    • Violation of the First Amendment – The letter unconstitutionally restricts speech by prohibiting educators from teaching about race, diversity, equity, and inclusion. It also broadly bans DEI programs, including student groups and faculty associations, coercing educational institutions into self-censorship through the threat of losing federal funding. In higher education, the government cannot dictate what professors teach, and in K-12 schools, Congress has prohibited the federal government from dictating curriculum.
    • Violation of the Fifth Amendment – The letter fails to define key terms and practices, leaving educators uncertain about what is prohibited and vulnerable to arbitrary enforcement. By failing to establish clear standards, ED creates a chilling effect, forcing teachers to avoid important discussions in history, English literature, and more, or to risk arbitrary and discriminatory enforcement that threatens their professions.
    • Violation of the Administrative Procedure Act (APA) – The letter imposes new legal obligations without the required process and justification, making it arbitrary, capricious, and legally invalid. ED oversteps its authority and ignores decades of legal precedent and its own prior guidance on civil rights law, failing to explain why it is now reversing course on long-standing principles of equity and inclusion. 
    • Misrepresentation of Supreme Court Precedent – The letter misstates and overstates the Supreme Court’s 2023 ruling in Students for Fair Admissions v. Harvard. The decision only addressed race as a formal admissions factor in higher education — it did not ban curriculum, student groups, DEI programming, or race-neutral diversity initiatives. 

    “Like New Hampshire’s classroom censorship law that we successfully challenged in court, this unconstitutionally vague letter is an attack on educators who are simply doing their job,” said Gilles Bissonnette, legal director of the ACLU of New Hampshire. “Teachers are already reporting being afraid to teach for fear of having their teaching deemed unlawful, and that deprives Granite State students of the complete education that they deserve.”

    The complaint can be found online here.

    -###-

    MIL OSI USA News –

    March 6, 2025

  • MIL-OSI: Minutes of the annual general meeting held on 5 March 2025

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq Copenhagen
    Euronext Dublin
    London Stock Exchange
    Other stakeholders

    Date        5 March 2025

    Minutes of the annual general meeting held on 5 March 2025

    The bank held its Annual General Meeting (AGM) today, Wednesday, 5 March 2025, with the agenda as previously published.

    Minutes of decisions of the AGM as per the items on the agenda:

    The chairman of the board of directors, Martin Krogh Pedersen, opened the general meeting and welcomed the attendees.

    1. Election of chairperson        
    Allan Østergaard Sørensen, attorney-at-law, of Ringkøbing, deputy chairman of the shareholders’ committee, was elected chairman of the AGM.

    2. The board’s report on the bank’s activities in the previous year
    Martin Krogh Pedersen, chairman of the board of directors, presented the board’s report on the bank’s activities during the previous year, among these Martin Krogh Pedersen also reviewed the proposals regarding the agenda items: 5. Consultative vote on the remuneration report, 6. Approval of the remuneration of the board of directors for the current financial year, and 7. Remuneration policy.

    The board’s report was noted.

    3. Presentation of the annual report for approval, and
    4. Decision on allocation of profit or covering of loss under the approved annual report
    John Fisker, CEO, presented the annual report for 2024 for approval and explained the proposed profit allocation.

    The annual report for 2024 was approved.

    The AGM resolved to distribute the total comprehensive income for the year as follows (thousand DKK):        

    Appropriated for ordinary dividend, DKK 11 per share 293,774  
    Appropriated for charitable purposes 2,000  
    Transfer to net revaluation reserve under the equity method -3  
    Transfer to retained earnings 2,005,075  
         
    Total 2,300,846  
         

    5. Consultative vote on the remuneration report
    As part of his presentation of the board’s report on the bank’s activities during the previous year, Martin Krogh Pedersen, chairman of the board of directors, presented the remuneration report for 2024 for a consultative vote.

    The remuneration report for 2024 was approved.

    6. Approval of the remuneration of the board of directors for the current financial year
    As part of his presentation of the board’s report on the bank’s activities during the previous year, Martin Krogh Pedersen, chairman of the board of directors, presented the proposal for the remuneration of the board of directors for the current financial year for approval.

    The proposal for the remuneration of the board of directors for the current financial year (2025) was approved.

    7. Remuneration policy
    As part of his presentation of the board’s report on the bank’s activities during the previous year, Martin Krogh Pedersen, chairman of the board of directors, presented an updated remuneration policy for approval.

    The updated remuneration policy was approved.

    8. Election of members to the shareholders’ committee
    In accordance with the decision made by the bank’s annual general meeting held on 28 February 2024, the following members of the shareholders’ committee, whose terms of office end in 2025 and 2026, retired in rotation: Mette Bundgaard, Per Lykkegaard Christensen, Ole Kirkegård Erlandsen, Thomas Sindberg Hansen, Tonny Hansen, Kim Jacobsen, Morten Jensen, Kasper Lykke Kjeldsen, Lotte Littau Kjærgaard, Niels Erik Burgdorf Madsen, Martin Krogh Pedersen, Poul Kjær Poulsgaard, Kristian Skannerup, Allan Østergaard Sørensen, Jørgen Kolle Sørensen, Sten Uggerhøj, Lasse Svoldgaard Vesterby and Christina Ørskov.

    In addition, Lars Møller and Yvonne Skagen must retire from the shareholders’ committee due to the age requirement in the articles of association.

    Martin Krogh Pedersen, chairman of the board of directors, presented the recommendation, made by the shareholders’ committee and the board of directors, regarding elections of members to the shareholders’ committee.

    The following members were re-elected to the shareholders’ committee:

    • Mette Bundgaard, police superintendent, No, born 1966
    • Per Lykkegaard Christensen, farmer, Hjallerup, born 1959
    • Ole Kirkegård Erlandsen, butcher, Snejbjerg, born 1962
    • Thomas Sindberg Hansen, grocer, Kloster, born 1978
    • Tonny Hansen, former college principal, Ringkøbing, born 1958
    • Kim Jacobsen, manager, Aalborg, born 1969
    • Morten Jensen, attorney-at-law (Supreme Court), Dronninglund, born 1961
    • Kasper Lykke Kjeldsen, timber merchant, Højbjerg, born 1981
    • Lotte Littau Kjærgaard, manager, Holstebro, born 1969
    • Niels Erik Burgdorf Madsen, manager, Ølgod, born 1959
    • Martin Krogh Pedersen, CEO, Ringkøbing, born 1967
    • Poul Kjær Poulsgaard, farmer, Madum, born 1974
    • Kristian Skannerup, manufacturer, Tim, born 1959
    • Allan Østergaard Sørensen, attorney-at-law (High Court), Ringkøbing, born 1982
    • Jørgen Kolle Sørensen, sales representative and branch manager, Hvide Sande, born 1970
    • Sten Uggerhøj, car dealer, Frederikshavn, born 1959
    • Lasse Svoldgaard Vesterby, manager, Ringkøbing, born 1978
    • Christina Ørskov, manager, Gærum, born 1969

    The following new members were elected to the shareholders’ committee:

    • Rasmus Alstrup, farmer, Videbæk, born 1985
    • Rikke Ahnfeldt Kjær, CFO, Gistrup, born 1980
    • Pia Stevnhøj Sommer, sales director, Lind, born 1979

    9. Election of one or more auditors
    The chairperson, Allan Østergaard Sørensen, presented the recommendation of the shareholders’ committee, the board of directors and the audit committee to re-elect as external auditor and as sustainability auditor Revisionsfirmaet PricewaterhouseCoopers, Statsautoriseret Revisionspartnerselskab.

    The shareholders re-elected as external auditor and as sustainability auditor:

    • Revisionsfirmaet PricewaterhouseCoopers, Statsautoriseret Revisionspartnerselskab

    10. Authorisation for the board of directors to permit the bank to acquire its own shares
    The chairperson, Allan Sørensen, presented the board of directors’ proposal for the authorisation.

    The authorisation of the board of directors proposed below was adopted:
    ‘The board of directors proposes that it be granted authorisation to permit the bank to acquire its own shares, in accordance with current legislation, until the next annual general meeting, to a total nominal value of ten percent (10%) of the share capital, such that the shares can be acquired at current market price plus or minus ten percent (+/-10%) at the time of acquisition.’

    11. Any proposals from the board of directors, the shareholders’ committee or shareholders

    11.a. Proposed amendments to the articles of association (articles 2a and 2b)
    The chairperson, Allan Østergaard Sørensen, explained the amendments to the articles of association proposed by the shareholders’ committee and the board of directors.

    The amendments to the articles of association, as stated in the full proposals, were adopted.

    11.b. Proposal to reduce the bank’s share capital by nom. DKK 1,315,042 by cancellation of its own shares
    The chairperson, Allan Østergaard Sørensen, presented the board of directors’ proposal for a reduction of the bank’s share capital.

    The following proposal for the reduction of the share capital and the amendment of the articles of association was adopted:
    ‘The board of directors proposes a reduction in the bank’s share capital from nom. DKK 26,706,739 to nom. DKK 25,391,697 by cancellation of 1,315,042 nom. DKK 1 shares from the bank’s holding of its own shares of a nominal value of DKK 1,315,042.

    Please note that, in accordance with section 188(1) of the Danish Companies Act, the purpose of the reduction in the bank’s share capital is payment to shareholders. The amount of the reduction has been used as payment to shareholders for shares acquired by the bank under the authorisation previously granted to the board of directors by the general meeting.

    The share capital will consequently be reduced by nom. DKK 1,315,042 and the bank’s holding of its own shares will be reduced by 1,315,042 nom. DKK 1 shares. Please note that, in accordance with section 188(2) of the Danish Companies Act, the shares in question were acquired for a total sum of DKK 1,524,948,149. This means that, apart from the reduction in nominal capital, DKK 1,523,633,107 has been paid to shareholders.

    The purpose of the board of directors’ proposed reduction of the share capital is to maintain flexibility in the bank’s capital structure.

    If the proposal is adopted, the following changes will be made to articles 2, 2a, 2b and 2c of the articles of association:

    • Art. 2: The amount of “26,706,739” will be changed to “25,391,697”
    • Art. 2a: The amount of “5,341,347” will be changed to “5,078,339”
    • Art. 2b: The amount of “2,670,673” will be changed to “2,539,169”
    • Art. 2c: The amount of “5,341,347” will be changed to “5,078,339”.’

    11.c. Proposed authorisation for the board of directors or its appointee
    The chairperson, Allan Østergaard Sørensen, presented the board of directors’ proposal for authorisation of the board of directors or its appointee.

    The following proposed authorisation of the board of directors or its appointee was adopted:
    ‘The board of directors proposes that the board of directors, or its appointee, be authorised to report the decisions which have been adopted at the general meeting for registration and to make such changes to the documents submitted to the Danish Business Authority as the Authority may require or find appropriate in connection with registration of the decisions of the general meeting.’

    11.d. Proposal from a shareholder
    The chairperson, Allan Østergaard Sørensen, presented the board of directors’ proposal for the
    following proposal submitted by a shareholder.

    Proposal submitted by shareholder Poul Aksel Andersen, Hobro:
    ‘Reason for the proposal:
    The minutes of the 2024 annual general meeting state that: “In recruiting and proposing candidates for the shareholders’ committee (election and re-election), the committee and board of directors have focused on ensuring a diverse committee membership in terms of business experience, professional qualifications and expertise, gender, age etc.”

    Despite this, it is evident from the minutes that all of the elected members of the shareholders’ committee in 2024 were in leading positions. The shareholders’ committee is therefore hardly representative of the bank’s shareholders or customers in terms of business experience, professional qualifications or expertise.

    Proposal:
    It is proposed, that Ringkjøbing Landbobank’s work of recruiting and proposing of candidates in the future should focus on making the composition of the shareholders’ committee representative of the bank’s shareholders and customers; that the bank should make the process of admitting committee members transparent for all shareholders who might be interested in joining the shareholders’ committee; and that the bank’s work should focus specifically on ensuring that at least 25% of the members of the shareholders’ committee are employees without responsibilities for managing other staff.

    The board of directors’ recommendation regarding the proposal:
    The members of the bank’s board of directors are elected by the shareholders’ committee. Six of the eight current board members elected by the shareholders’ committee came from the membership of the shareholders’ committee. The shareholders’ committee is thus a recruitment channel for the board of directors. It is relevant, therefore, that the members of the shareholders’ committee possess the right competences for onward recruitment to the board of directors. In addition, the authorities nowadays impose a number of requirements on serving members of boards of directors of financial undertakings, including in relation to their competences, and there are also requirements regarding the collective competences of the plenary board of directors.

    The board of directors, the board of directors’ nomination committee and the shareholders’ committee are already working to promote diversity in the shareholders’ committee.

    The board of directors does not consider it appropriate to tie the board of directors’ nomination committee, the board of directors and the shareholders’ committee to a specific framework in future recruitment processes for nominations of candidates to the shareholders’ committee.

    For the above reasons, the board of directors does not support the proposal.‘

    The proposal submitted by shareholder Poul Aksel Andersen, Hobro, was not adopted.

    Yours faithfully
    Ringkjøbing Landbobank

    John Fisker
    CEO

    Attachment

    • Meddelelse om afholdt generalforsamling 2025 endelig EN

    The MIL Network –

    March 6, 2025

  • MIL-OSI Global: What’s behind Erdoğan’s calculated shift on Kurds and its potential consequences

    Source: The Conversation – Canada – By Spyros A. Sofos, Assistant Professor in Global Humanities, Simon Fraser University

    On March 1, the start of the holy month of Ramadan — observed by most of Turkey’s Sunni population — the imprisoned leader of the banned Kurdistan Workers’ Party, Abdullah Öcalan, made a historic call for the party to disarm and end its 40-year-long armed struggle against the Turkish state.

    Though seemingly unexpected, this call for peace — made a few weeks before Nowruz, the Kurdish New Year, on March 20 — followed months of negotiations between Turkey’s ruling coalition made up of President Recep Tayyip Erdoğan’s Justice and Development Party (AKP), Devlet Bahçeli’s Nationalist Action Party (MHP) and Kurdish officials.

    In a political landscape long shaped by conflict, Erdoğan’s recent overtures to Kurdish political forces mark a striking shift. In his speech during his party’s congress in Trabzon earlier this year, Erdoğan emphasized the unity and shared history among Turks and Kurds — the latter of whom have long been victims of imperialist designs of dividing the region and have been a mainstay of his populist rhetoric.

    Change of course on the Kurds

    Erdoğan’s speech suggested not only a willingness to re-engage with Kurds but also the possibility of a broader political compromise.

    In October 2024, Erdoğan ally and MHP leader Bahçeli, in a move carefully choreographed with the Turkish president’s change of course, opened the way to such a rapprochement by inviting Öcalan to parliament. Bahçeli also proposed Öcalan’s release in exchange for a ceasefire.

    This is not Erdoğan’s first attempt to resolve the Kurdish issue. In 2009, he launched the “Kurdish Opening,” aimed at ending the conflict through dialogue. Similar initiatives followed in 2008–11 and 2013–15.

    But all initiatives ultimately collapsed due to political disagreements, shifting alliances and Erdoğan’s increasingly authoritarian approach to governance.

    This latest initiative follows the same transactional logic that marked the earlier processes. Erdoğan’s renewed interest in engaging with the Kurds appears driven less by a desire for peace-making and more by political necessity.

    Domestically, Erdoğan’s AKP has grown increasingly reliant on its alliance with ultra-nationalist MHP. While this partnership secured his 2023 re-election as president, its fragility became evident in the country’s 2024 local elections, when opposition candidates won key mayoral races throughout the country. They were aided by the tacit support of the pro-Kurdish Peoples’ Equality and Democracy Party (DEM.)



    Read more:
    What’s next for Turkey after local elections put Erdoğan on notice

    Destabilizing the opposition

    The process that led to Öcalan’s statement from prison is quite likely to bring significant realignments to Turkish politics.

    By engaging with the broader Kurdish movement, Erdoğan seeks to destabilize the fragile and fractured opposition coalition, whose unity hinged on their shared opposition to him. Their continued relevance also depends on the tacit support of DEM and its Kurdish voters.

    By opening a new dialogue, Erdoğan may tip the balance in his favour by positioning DEM as a privileged negotiating partner. Drawing Kurdish political support away from the opposition and securing Kurdish backing for constitutional reforms would allow him to seek another presidential term.

    With 57 parliamentary seats, DEM holds significant sway and can make all the difference if Erdoğan initiates a constitutional amendment process.

    Regional and strategic implications

    Erdoğan’s overtures also carry significant regional implications. Turkey’s military operations in Syria and Iraq have strained relations with Kurdish factions across the region.

    At the same time, Turkey has strengthened ties with Iraq’s Kurdistan Regional Government, highlighting Erdoğan’s pragmatism when dealing with Kurdish entities.

    By addressing the Kurdish issue domestically, Erdoğan could strengthen his hand regionally, perhaps replicating his co-operation with Iraq in relations with the Democratic Union Party in Northern Syria, positioning Turkey as a stabilizing force in both Iraq and Syria.

    What comes next?

    Despite Erdoğan’s conciliatory tone, the future of this peace process remains highly uncertain. Previous negotiations unravelled due to unresolved questions about Kurdish political autonomy, cultural rights and power-sharing.

    The AKP’s emphasis on disarmament without addressing broader Kurdish political demands resulted in the eventual breakdown of dialogue.

    Internal divisions within Kurdish political forces also complicate the process. While Öcalan’s influence remains strong, some Kurdish factions may resist concessions without meaningful political guarantees. And despite Bahçeli’s recent statements, Erdoğan’s MHP allies remain deeply skeptical of any reconciliation efforts.

    As Nowruz approaches, Erdoğan’s engagement with Kurdish political forces could culminate in a new phase of dialogue — or serve as a strategic manoeuvre to consolidate power ahead of the next election cycle.

    Whether his shift leads to genuine reconciliation or remains a political gambit will depend on Erdoğan’s willingness to address Kurdish demands for autonomy and cultural recognition.

    If the past is any indicator, pro-Kurdish parties and civil society organizations currently engaged in negotiations may once again be discarded if they no longer serve Erdoğan’s interests. For now, the Kurdish question remains one of the most critical — and volatile — fault lines in Turkish politics.

    Whether lasting peace is on the horizon, or another cycle of repression and conflict, will depend on how any potential peace process unfolds in the coming months.

    Spyros A. Sofos receives funding from SSHRC and SFU.

    – ref. What’s behind Erdoğan’s calculated shift on Kurds and its potential consequences – https://theconversation.com/whats-behind-erdogans-calculated-shift-on-kurds-and-its-potential-consequences-246879

    MIL OSI – Global Reports –

    March 6, 2025

  • MIL-OSI United Kingdom: ESFA Update: 5 March 2025

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    ESFA Update: 5 March 2025

    Latest information and actions from the Education and Skills Funding Agency for academies, schools, colleges, local authorities and further education providers.

    Applies to England

    Documents

    ESFA Update further education: 5 March 2025

    HTML

    ESFA Update academies: 5 March 2025

    HTML

    ESFA Update local authorities: 5 March 2025

    HTML

    Details

    Latest for further education

    Article Title
    Action Register to deliver T Level and T Level foundation year study programmes for academic year 2026 to 2027
    Information 16 to 19 funding arrangements for academic year 2025 to 2026
    Information 16 to 19 in-year growth funding for academic year 2024 to 2025
    Information Post-16 budget grant for April to July 2025
    Information 16 to 19 subcontracting data for academic year 2022 to 2023
    Information Update to post-16 subcontracting exemption forms for 2025 to 2026 requests
    Information Changes to the financial statements submissions process for independent training providers, special post-16 institutions and non-maintained special schools
    Information Your Apprenticeship app has launched

    Latest information for academies

    Article Title
    Action Register to deliver T Level and T Level foundation year study programmes for academic year 2026 to 2027
    Information 16 to 19 funding arrangements for academic year 2025 to 2026
    Information 16 to 19 in-year growth funding for academic year 2024 to 2025
    Information Post-16 budget grant for April to July 2025
    Information PE and sport premium allocations for 2024 to 2025 academic year
    Information 16 to 19 subcontracting data for academic year 2022 to 2023
    Information Improvements to DfE Connect
    Events and webinars Risk protection arrangement (RPA) members only – mock trial
    Events and webinars Hiring supply teachers and agency workers for your school
    Events and webinars DfE energy for schools service – simplified buying of gas and electricity
    Events and webinars Academy finance professionals March power hour – Financial Benchmarking and Insights Tool
    Events and webinars Q&A drop-in sessions – academies chart of accounts and automation

    Latest information for local authorities

    Article Title
    Action Register to deliver T Level and T Level foundation year study programmes for academic year 2026 to 2027
    Information 16 to 19 funding arrangements for academic year 2025 to 2026
    Information 16 to 19 in-year growth funding for academic year 2024 to 2025
    Information Post-16 budget grant for April to July 2025
    Information Early years expansion grant 2025 to 2026
    Information Dedicated schools grant (DSG) recoupment guide for 2025 to 2026
    Information PE and sport premium allocations for 2024 to 2025 academic year
    Information 16 to 19 subcontracting data for academic year 2022 to 2023
    Information Update to post-16 subcontracting exemption forms for 2025 to 2026 requests
    Events and webinars Risk protection arrangement (RPA) members only – mock trial
    Events and webinars Hiring supply teachers and agency workers for your school
    Events and webinars DfE energy for schools service – simplified buying of gas and electricity

    Updates to this page

    Published 5 March 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

    March 6, 2025

  • MIL-OSI United Nations: United Nations Proved Resilient amid COVID-19, Fifth Committee Told, as It Examines Business Continuity in Crises

    Source: United Nations MIL OSI b

    Fifth Committee (Administrative and Budgetary) delegates today reviewed the United Nations’ ongoing efforts to strengthen its response to disruptive events, such as pandemics, terrorist attacks and severe weather events.

    They heard that the Organization continued delivering mandates during the COVID-19 pandemic, showcasing its resilience and adaptability under difficult circumstances.  However, the Secretariat was urged to include more detail — including a visual representation of responsibilities and reporting lines, along with cost breakdowns — in future reports on business continuity.

    Olga De La Piedra, Director of the Office of the Under-Secretary-General for Management Strategy, Policy and Compliance, introduced the Secretary-General’s report “Progress in the implementation of the organizational resilience management system” (document A/79/692).  First approved by the General Assembly in June 2013, the organizational resilience management system uses a multidisciplinary framework to integrate areas, such as crisis management, information and communications technology (ICT), emergency medical support, safety and security, and other areas to keep the Organization running smoothly in the face of disruptive events.

    At the General Assembly’s request, the report, which covers the 2022 to 2024 calendar years, includes an annex with comprehensive information on the Organization’s response to the COVID-19 pandemic.

    Ms. Del la Piedra said the report describes the system’s architecture and coordination mechanisms, and includes the cost of carrying out the system in the Secretariat, efforts to strengthen the resiliency system in special political missions, as well as the work of the UN system’s working group on organizational resilience management system.  The Secretariat’s response to the COVID-19 pandemic was guided by the system, she said, as crisis management teams were activated in early 2020 across duty stations to roll out a coherent response.

    “Close collaboration and coordination proved to be key in the dynamic and agile response process required by the pandemic, not only across the UN Secretariat, but also with UN system organizations and with continuous consultation of Member States,” she said.  “It also required coordination with local authorities, vendors, implementation partners and others to be able to continue delivering mandates, even in the most difficult times.”

    She said the response involved many functions carried out around the world, including policy, safety and security, medical, conference servicing, facilities management, human resources, supply chain management, financial support and overall operational support.  She said the Organization, particularly its staff, “demonstrated that it is resilient and can learn and adapt even under the most trying of circumstances”.

    Udo Fenchel, Vice-Chair of the Advisory Committee on Administrative and Budgetary Questions (ACABQ), then presented that body’s related report (document A/79/7/Add.45).  The Advisory Committee acknowledges the progress achieved in the system’s development and implementation, particularly its positive impact on the Organization’s response to the COVID-19 pandemic.  The Advisory Committee trusts that efforts to strengthen the system will continue, based on lessons learned and considering current and possible future challenges.

    To enhance future progress reports, the Advisory Committee encourages a higher level of details on the architecture of the organizational resilience management system, including an illustration of the responsibilities and reporting lines at Headquarters, offices away from Headquarters and field missions for the Secretariat, and information for the United Nations system, Mr. Fenchel said. 

    The progress report should also include a detailed accounting of the full costs of the activities that support the system, including staff costs, ICT investments, training exercises, consultancies and insurance, he said.  These details would include a consolidated summary of the overall costs and possible efficiencies.  “The Advisory Committee stresses the importance of efficiency and cost-effectiveness in maintaining a full and effective emergency preparedness and response to critical situations, ensuring business continuity in the work of the Organization,” he added.

    MIL OSI United Nations News –

    March 6, 2025

  • MIL-OSI Canada: Soutien continu aux services en français | Continued support for French-language services

    [. La communauté francophone compte maintenant plus de 261 000 personnes et il est essentiel de préserver et de soutenir ces personnes qui font partie intégrante du tissu social de la province.

    Il est essentiel d’améliorer les services en français et de préserver le patrimoine francophone en Alberta à mesure que la communauté francophone croît. S’il est adopté, le budget de 2025 investira plus de 4 millions de dollars à l’appui d’initiatives qui renforcent les ressources en français et élargissent l’accès aux expériences culturelles et éducatives en français.

    « En investissant dans les services en français, nous renforçons le soutien à notre communauté francophone, et nous veillons à ce que toutes les Albertaines et tous les Albertains puissent se rapprocher de l’histoire et du patrimoine que nous partageons, et les célébrer. Nous nous assurons que les Albertains peuvent accéder à des services du gouvernement, des réseaux de ressources pour les familles aux services de recherche et d’archives, dans la langue de leur choix. »

    Tanya Fir, ministre des Arts, de la Culture et de la Condition féminine

    Grâce au soutien du gouvernement, les Archives provinciales de l’Alberta ont été en mesure d’agrandir leur collection en français, notamment des documents de familles clés et des archives de la communauté francophone. À ce jour, les Archives provinciales ont traduit près de 200 documents aux fins d’accès par le public, et embauché des employés bilingues pour appuyer la recherche sur l’histoire francophone en Alberta.

    « Les Archives provinciales de l’Alberta sont les principaux détenteurs des documents des francophones dans la province. Grâce au financement du Plan d’action, notre archiviste et notre technicien en archivistique bilingues continuent de documenter la communauté francophone, et de rendre ces documents accessibles non seulement aux francophones en Alberta, mais au Canada et ailleurs dans le monde. Nous sommes fiers de notre travail, qui rend ces documents accessibles en ligne et sur place à quiconque souhaite se renseigner au sujet de la culture et de l’histoire des francophones, du français et de l’expérience francophone dans l’Ouest canadien. »

    Heather Innes, directrice générale, Archives provinciales de l’Alberta

    Les investissements prévus au budget de 2025 soutiendraient en outre la Société historique francophone de l’Alberta, qui joue un rôle crucial pour ce qui est de préserver et de partager l’histoire francophone de la province. Par le biais de ressources, de publications et d’outils éducatifs, la Société aide les Albertains francophones à découvrir leur patrimoine, à tisser des liens avec lui et à le transmettre aux générations futures.

    « Préserver, transmettre et faire rayonner l’histoire des francophones en Alberta demande des ressources et un engagement constant. Investir dans les services en français permet non seulement de mieux documenter cette histoire, mais de la rendre plus accessible à tous. Assurer le rayonnement de notre histoire nous permet de mieux la placer dans le récit collectif de l’Alberta. Cela contribue à renforcer notre identité et la vitalité de notre communauté. »

    Claudette D. Roy, C.M., présidente, Société historique francophone de l’Alberta

    Les efforts continus sont en harmonie avec le plan d’action de la Politique en matière de francophonie de l’Alberta, qui décrit les mesures touchant divers secteurs, notamment l’appui aux organismes francophones, l’amélioration de la prestation des services culturels et l’offre de ressources sur la santé et la justice en français.

    Le budget de 2025 est un plan tourné vers l’avenir qui vise à renforcer les services en français, en assurant un meilleur accès et davantage de possibilités à la population albertaine francophone afin qu’elle puisse s’épanouir et contribuer à la prospérité de la province.

    En bref

    • L’Alberta compte plus de 261 000 francophones et le français est la langue la plus couramment parlée après l’anglais dans la province (Statistique Canada, 2021).
    • Statistique Canada prévoit que la croissance de la population francophone en Alberta sera la plus élevée au pays. On prévoit une hausse de 25 % à 50 % d’ici 2036.

    Renseignements connexes

    • Plan d’action 2024-2028 de la Politique en matière de francophonie  
    • Politique en matière de francophonie du gouvernement de l’Alberta 
    • Ressources en français des Archives provinciales de l’Alberta

    Nouvelles connexes

    • Une offre améliorée de services en français partout en Alberta | More French services in every corner of Alberta (16 décembre 2024)

    Multimédia

    • Regarder la conférence de presse (en anglais seulement)

    Alberta’s government is continuing to invest in improving access to programs and services for French-speaking Albertans.

    The French language has been a foundational part of Alberta’s culture and heritage, contributing significantly to the Albertan identity. As the province’s French-speaking community has grown to more than 261,000 people, it is vital to preserve and support this foundational part of Alberta’s societal fabric.

    Enhancing French-language services and sustaining Alberta’s Francophone heritage are crucial as the province’s francophone community grows. If passed, Budget 2025 would invest more than $4 million to support initiatives that boost French resources and broaden access to cultural and educational experiences in French.

    “By investing in French-language services, we are not only strengthening support for our francophone community but also ensuring that all Albertans can connect with and celebrate our shared history and heritage. We are ensuring Albertans can access government services, from family resource networks to research and archival services, in the language of their choice.”

    Tanya Fir, Minister of Arts, Culture and Status of Women

    Through government support, the Provincial Archives of Alberta has been able to expand its French holdings, including key family records and francophone community archives. To date, the provincial archives has translated almost 200 French records for public access and hired bilingual staff to support Albertans researching francophone history.

    “The Provincial Archives of Alberta is the premier holder of records of the francophones in the province. Thanks to this Action Plan funding, our bilingual archivist and archival technician continue to document the French community, and to make these records available not just to Francophones here in Alberta, but in Canada and internationally. We are proud of the work we do to make these records accessible online and onsite at the Archives to anyone that wants to learn about francophone culture, history, French language and the francophone experience in the west.”

    Heather Innes, executive director, Provincial Archives of Alberta

    Investments through Budget 2025 would also support the Société historique francophone de l’Alberta, which plays a crucial role in preserving and sharing Alberta’s francophone history. Through resources, publications and educational tools, the society helps French-speaking Albertans learn, connect with and transmit their heritage to future generations.

    “Preserving, transmitting, and promoting the history of francophones in Alberta requires resources and ongoing commitment. Investing in French-language services not only helps document this history more effectively but also makes it more accessible to everyone. Showcasing our history allows us to better position it within Alberta’s collective narrative, strengthening both our identity and the vitality of our community.”

    Claudette D. Roy, C.M., president, Société historique francophone de l’Alberta

    The ongoing efforts align with Alberta’s French Policy Action Plan, which outlines actions that span various sectors, including supporting francophone organizations, enhancing cultural service delivery and providing health and justice resources in French.

    Budget 2025 is a forward-looking plan to strengthen French-language services, ensuring greater access and opportunities for French-speaking Albertans to thrive and contribute to the province’s prosperity.

    Quick facts

    • With more than 261,000 speakers, French is the most spoken language in Alberta after English (Statistics Canada, 2021).
    • Statistics Canada projects Alberta to lead the country in the growth of the French-speaking population, with an increase between 25 and 50 per cent by 2036.

    Related information 

    • Alberta’s French Policy 2024-28 Action Plan 
    • Alberta’s French Policy 
    • Provincial Archives of Alberta French Resources

    Related news 

    • Une offre améliorée de services en français partout en Alberta | More French services in every corner of Alberta (Dec. 16, 2024)

    Multimedia

    • Watch the news conference

    MIL OSI Canada News –

    March 6, 2025

  • MIL-OSI USA: Governor Kehoe Announces Launch of Missouri Blue Shield Program to Recognize Communities Dedicated to Effective Law Enforcement and Community Safety

    Source: US State of Missouri

    MARCH 5, 2025

    Jefferson City — Today, Governor Mike Kehoe announced Missouri counties, towns, and cities can now apply for Missouri Blue Shield designation, recognizing their commitment to enhancing public safety, strengthening support for law enforcement, and building sustainable public safety partnerships.

    The Blue Shield Program, as outlined in Executive Order 25-03, is part of the Governor’s Safer Missouri initiative announced on his first day in office. Achieving the Blue Shield designation allows communities to access state grants for law enforcement training and equipment.

    “Improving public safety is the top priority of our administration, and Missouri communities that are making public safety and support of law enforcement a priority should be recognized,” Governor Kehoe said. “We urge Missouri communities to apply for the Blue Shield designation to spread the word about the safer communities they’re building. We will continue to work with the General Assembly to make $10 million in grant funding for law enforcement training and equipment available to Blue Shield communities.”

    The Missouri Department of Public Safety (DPS) is administering the Blue Shield Program. Applications should be made by an official from the jurisdictions seeking the Blue Shield designation in coordination with the jurisdiction’s chief law enforcement officer. Applications and all supporting materials should be submitted online at this link.

    DPS will review applications and begin making determinations on Blue Shield designations for counties, cities, and towns within two weeks of application submission. DPS encourages communities to apply early, because if grant funding is approved by the General Assembly, the department will begin accepting grant applications in July, when the fiscal year 2026 funding  becomes available. Questions on the application process can be directed to Courtney Kawelaske, Courtney.Kawelaske@dps.mo.gov.

    Among the Blue Shield designation eligibility criteria are:

    • Passage of a resolution demonstrating a commitment to public safety, including to reduce violent crime within the jurisdiction;
    • Extraordinary investments in public safety funding;
    • Community policing initiatives or local partnerships to invest in and/or improve public safety;
    • Law enforcement officer recruitment and retention program;
    • Demonstrated effectiveness in reducing crime or innovative programs that attempt to reduce crime;
    • Participates in regional anti-crime task forces, or a commitment to be a willing partner with these in the future; and
    • Compliance with Missouri crime reporting and traffic stop data requirements and other related statutes.

    Blue Shield counties, cities, and towns must maintain their commitments each year to retain the Blue Shield designation via annual reporting on their ongoing efforts to support public safety to DPS. Once local governments are approved for a Blue Shield designation, they will receive a public relations toolkit to showcase their community’s commitment to public safety.

    ###

    MIL OSI USA News –

    March 6, 2025

  • MIL-OSI USA: U.S. Justice Department Launches Investigation of University of California Under Title VII of the Civil Rights Act of 1964

    Source: US State of North Dakota

    The Federal Task Force to Combat Anti-Semitism announced that the Justice Department has opened a civil pattern or practice investigation into the University of California (UC) under Title VII of the Civil Rights Act of 1964. The investigation will assess whether UC has engaged in a pattern or practice of discrimination based on race, religion and national origin against its professors, staff and other employees by allowing an Antisemitic hostile work environment to exist on its campuses.

    “This Department of Justice will always defend Jewish Americans, protect civil rights, and leverage our resources to eradicate institutional Antisemitism in our nation’s universities,” said Attorney General Pamela Bondi.

    “Our country has witnessed a disturbing rise of Antisemitism at educational institutions in California and nationwide,” said Acting Associate Attorney General and Department of Justice Chief of Staff Chad Mizelle. “The Department of Justice is committed to upholding Title VII of the Civil Rights Act and protecting Jewish Americans as we investigate this potential pattern of discrimination.”

    Leading Task Force member and Senior Counsel to the Assistant Attorney General for Civil Rights Leo Terrell said, “Following the October 7, 2023 Hamas terror attacks in Israel, there has been an outbreak of antisemitic incidents at leading institutions of higher education in America, including at my own alma mater at the UCLA campus of UC. The impact upon UC’s students has been the subject of considerable media attention and multiple federal investigations. But these campuses are also workplaces, and the Jewish faculty and staff employed there deserve a working environment free of antisemitic hostility and hate. The President, the Attorney General and this Task Force are committed to combatting antisemitism for all Jewish Americans.”

    The employment discrimination investigation will be conducted pursuant to Title VII of the Civil Rights Act of 1964, which prohibits employment discrimination on the basis of race, color, national origin, sex, and religion. Under Title VII, the Justice Department has the authority to initiate investigations against state and local government employers where it has reason to believe that a “pattern or practice” of employment discrimination exists.

    Collaboration between the Justice Department and other federal agencies plays an important role in combating antisemitism in schools and college campuses. The Department coordinates with other federal agencies as part of the multi-agency Task Force to Combat Anti-Semitism, as well as when sharing enforcement jurisdiction with other agencies. For state and local governments and related entities like public universities, the Department of Justice shares enforcement authority under Title VII with the Equal Employment Opportunity Commission (EEOC). The EEOC receives, investigates, and conciliates EEOC charges against state- and local-government employers, before referring those charges to the Civil Rights Division of the Department of Justice for potential litigation.

    “The EEOC is committed to partnering with the Department of Justice to stamp out the scourge of anti-Semitism on campus workplaces,” said EEOC Acting Chair Andrea Lucas.

    If you have been discriminated against, you can file a complaint with the Civil Rights Division, at Contact the Civil Rights Division | Department of Justice (https://civilrights.justice.gov). If you work for an university or college and have experienced anti-Semitic harassment at work, you can file a charge with the EEOC, at How to File a Charge of Employment Discrimination | U.S. Equal Employment Opportunity Commission (https://www.eeoc.gov/how-file-charge-employment-discrimination). Learn more about addressing anti-Semitism at work here: What To Do If You Face Antisemitism at Work.

    President Trump’s Executive Order can be found here: Additional Measures to Combat Anti-Semitism – The White House.

    MIL OSI USA News –

    March 6, 2025

  • MIL-OSI Security: U.S. Justice Department Launches Investigation of University of California Under Title VII of the Civil Rights Act of 1964

    Source: United States Attorneys General 2

    The Federal Task Force to Combat Anti-Semitism announced that the Justice Department has opened a civil pattern or practice investigation into the University of California (UC) under Title VII of the Civil Rights Act of 1964. The investigation will assess whether UC has engaged in a pattern or practice of discrimination based on race, religion and national origin against its professors, staff and other employees by allowing an Antisemitic hostile work environment to exist on its campuses.

    “This Department of Justice will always defend Jewish Americans, protect civil rights, and leverage our resources to eradicate institutional Antisemitism in our nation’s universities,” said Attorney General Pamela Bondi.

    “Our country has witnessed a disturbing rise of Antisemitism at educational institutions in California and nationwide,” said Acting Associate Attorney General and Department of Justice Chief of Staff Chad Mizelle. “The Department of Justice is committed to upholding Title VII of the Civil Rights Act and protecting Jewish Americans as we investigate this potential pattern of discrimination.”

    Leading Task Force member and Senior Counsel to the Assistant Attorney General for Civil Rights Leo Terrell said, “Following the October 7, 2023 Hamas terror attacks in Israel, there has been an outbreak of antisemitic incidents at leading institutions of higher education in America, including at my own alma mater at the UCLA campus of UC. The impact upon UC’s students has been the subject of considerable media attention and multiple federal investigations. But these campuses are also workplaces, and the Jewish faculty and staff employed there deserve a working environment free of antisemitic hostility and hate. The President, the Attorney General and this Task Force are committed to combatting antisemitism for all Jewish Americans.”

    The employment discrimination investigation will be conducted pursuant to Title VII of the Civil Rights Act of 1964, which prohibits employment discrimination on the basis of race, color, national origin, sex, and religion. Under Title VII, the Justice Department has the authority to initiate investigations against state and local government employers where it has reason to believe that a “pattern or practice” of employment discrimination exists.

    Collaboration between the Justice Department and other federal agencies plays an important role in combating antisemitism in schools and college campuses. The Department coordinates with other federal agencies as part of the multi-agency Task Force to Combat Anti-Semitism, as well as when sharing enforcement jurisdiction with other agencies. For state and local governments and related entities like public universities, the Department of Justice shares enforcement authority under Title VII with the Equal Employment Opportunity Commission (EEOC). The EEOC receives, investigates, and conciliates EEOC charges against state- and local-government employers, before referring those charges to the Civil Rights Division of the Department of Justice for potential litigation.

    “The EEOC is committed to partnering with the Department of Justice to stamp out the scourge of anti-Semitism on campus workplaces,” said EEOC Acting Chair Andrea Lucas.

    If you have been discriminated against, you can file a complaint with the Civil Rights Division, at Contact the Civil Rights Division | Department of Justice (https://civilrights.justice.gov). If you work for an university or college and have experienced anti-Semitic harassment at work, you can file a charge with the EEOC, at How to File a Charge of Employment Discrimination | U.S. Equal Employment Opportunity Commission (https://www.eeoc.gov/how-file-charge-employment-discrimination). Learn more about addressing anti-Semitism at work here: What To Do If You Face Antisemitism at Work.

    President Trump’s Executive Order can be found here: Additional Measures to Combat Anti-Semitism – The White House.

    MIL Security OSI –

    March 6, 2025

  • MIL-OSI Economics: Transcript of Press Briefing on the Completion of the Third Review for the IMF Extended Fund Facility for Sri Lanka

    Source: International Monetary Fund

    March 5, 2025

    PARTICIPANTS:

    PETER BREUER

    Senior Mission Chief for Sri Lanka

    KATSIARYNA SVIRYDZENKA

    Deputy Mission Chief for Sri Lanka

    MARTHA TESFAYE WOLDEMICHAEL

    Resident Representative in Sri Lanka

    MODERTOR:

    RANDA ELNAGAR

    Senior Media Officer

    TRANSCRIPT:


    Ms. Elnagar:      Good morning to our participants who are joining us from Asia and good evening to our participants in DC. Welcome to the press conference on of the Third review of Sri Lanka’s Extended Fund Facility Arrangement with the International Monetary Fund. I am Randa Elnagar, with the IMF’s communications department.

    I am joined today by three speakers. Peter Breuer, IMF’s Senior Mission Chief for Sri Lanka; Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka; and Martha Tesfaye Woldemichael, IMF’s Resident Representative in Sri Lanka.

    By now you should have seen the press release, which we issued on Friday and the staff report is not on IMF.org. First, Peter will give some opening remarks, and then we will take your questions.

    We are kindly asking you to mute your microphones throughout the briefing, unless you are asking a question. Peter the floor is yours.

    started transcription


    Mr. Breuer:     Thank you, Randa. Good morning, all, thank you very much for being here and for your interest in Sri Lanka’s IMF-supported economic reform program.

    I am pleased to announce that, on Friday February 28, the IMF Executive Board approved the third review under the 48-month Extended Fund Facility Arrangement with Sri Lanka. This provides the country with immediate access to about US$334 million to support its economic policies and reforms.

    It brings the total IMF financial support dispersed so far to about $1.3 billion.
    The IMF continues to support Sri Lanka’s efforts to restore and maintain macroeconomic stability and debt sustainability while protecting the poor and vulnerable rebuilding external buffers. Safeguarding financial sector stability and enhancing growth oriented structural reforms, including by strengthening governance.

    The IMF Executive Board’s approval to complete the third review recognizes the strong program performance. All quantitative targets for end December 2024 were met, except for the indicative target on social spending.
    Most structural benchmarks do by end January 2025 were either met or implemented with delay.

    Turning to through the macroeconomic situation, it is encouraging to see that reforms in Sri Lanka are bearing fruit with the economic recovery gaining momentum, inflation remains slow.

    Revenue collection is improving and reserves continue to accumulate.
    Economic growth averaged 4.3% since growth resumed in the third quarter of 2023.
    The recovery is expected to continue in two thousand 2025 now. Despite these positive developments, the economy is still vulnerable.
    It is critical to sustain the reform momentum to ensure macroeconomic stability and debt sustainability.

    And to promote long term inclusive growth, there is no room for policy errors.
    Let me emphasize that sustained revenue mobilization is crucial to restoring fiscal sustainability.

    And ensuring that the government can continue to provide essential services.
    Boosting tax compliance and refraining from tax exemptions are key to maintaining support for economic reforms.

    Let me also emphasize that to ease economic hardship and ensure the poor and vulnerable can participate in Sri Lanka’s recovery, it is important to meet social spending targets and continue with reforms of the social safety net going forward. Social support needs to be well targeted towards the.

    Most disadvantaged, so as to promote inclusive growth with limited fiscal space.
    Restoring cost recovery, electricity pricing without delay is needed to contain fiscal risks from state owned enterprises.
    A smoother execution of capital spending within the fiscal envelope would foster medium term growth.

    The recent successful completion of the bond exchange is a major milestone towards restoring debt sustainability, timely finalization of bilateral agreements with creditors in the official creditor committee, and with remaining creditors is a priority now. Regarding monetary policy, I would like to highlight that it should prioritize maintaining price. Stability supported by sustained commitment to prohibit monetary financing and.

    To safeguard central bank independence. Continued exchange rate, flexibility and gradually phasing out the balance of payments measures remain critical to rebuild external buffers and facilitate rebalancing.

    As for the financial sector, resolving non performing loans, strengthening governance and oversight of state owned banks and improving the insolvency and resolution frameworks are important priorities to revive credit growth and support the economic recovery.

    Finally, prolonged structural challenges need to be addressed to unlock Sri Lanka’s long term potential, including steadfast implementation of governance reforms.
    I would like to thank the authorities for their commitment and excellent collaboration.

    Let me also take this opportunity to announce that as part of a standard staff rotation process, I will soon be transitioning from the role of mischief for Sri Lanka.
    And I will be handing over to the next mission Chief Evan Papageorgiou, during the next mission. It has been an honor to accompany Sri Lanka on his journey out of this.

    Severe crisis for nearly three years. While there are more challenges ahead, the IMF team will remain a steadfast partner for Sri Lanka and its people on the road to a more sustainable and inclusive recovery.
    I will be moving to another assignment soon and wish the people of Sri Lanka continued success with the economic recovery.
    With this, let me hand it back to Rhonda. Thank you.


    Ms. Elnagar:     Thank you so much, Peter.
    Colleagues, please raise your hand and identify yourself if you want to ask your question and turn on your camera, if possible and the mic. Thank you. I see the first hand, please.


    QUESTIONER:     Thank you, Randa. This is Shihar Anis from economy next.
    I hope you can hear you.


    Ms. Elnagar:     We can hear you well, Shihar. Thank you.


    QUESTIONER:     OK. So my question is now there is a delay in the SOE restructuring because we don’t see the same speed that the previous government was doing, the SOE restructuring this government has been. Basically, they are not into privatization, but they are looking into a different model. How concerned are you on that? You know, delay or the current restructuring model.
    Thank you.


    Ms. Elnagar:     Thank you. We’ll take another couple of questions and then answer them in groups.


    Ms. Elnagar:     The audio. Zulfiq there is a lot of static on your mic.


    QUESTIONER:     Hope you can hear me. I have two questions. That is, it has come to light that the Sri Lankan Government plans not to proceed with the imputed rental income tax as a revenue measure. So has this been discussed with the IMF and is there any other alternative that is being put forward and at the same time, what is IMF stake on the budget that was presented recently?


    Ms. Elnagar:     Let’s take another question. Sampath, please.


    QUESTIONER:     Hi I’m Sampath Dissanayake from BBC Sinhala service.
    The government is increasing the tax as per the IMF advice to increase government revenue. The number of people receiving Social Security benefit in benefits in Sri Lanka is increasing annually. So do you believe that the increase in tax burden is increase for reason for this?


    Ms. Elnagar:      Peter, we can take these three questions.


    Mr. Breuer:     Yes, thank you very much. So let me answer some of the questions.
    On the budget and fiscal, and maybe Katie can answer the question on the.
    SOE reforms so the. Imputed rental income tax was a measure proposed by the previous administration as part of a possible revenue package for 2025, and the new authorities have proposed a slightly different package that is aligned with their mandate and priorities. And staff and the authorities have assessed that this package is sufficient to meet the revenue targets under the program. Now of course, should those measures prove insufficient, then additional revenue measures would be needed. And so that also. Ties in with the question on the budget and tax revenues. So yes, we have looked at the budget. And have, of course, disgusted with the authorities. There’s more detailed explanation in the staff report that should be online now, so there’s a table on page 12 that kind of lists some of the main measures needed to. reach the goal for tax revenue for next year. Yeah, reallybthe objective here is as you know tax revenue was a key driver of the crisis in 2022.
    Sri Lanka was the lowest that the country with the lowest tax take amongst.
    Middle income countries and low income countries in the world, and so it has made significant progress since then. Tax as a share of GDP, he has increased by 5 percentage points from somewhere. You know 7 to somewhere 12.4% or so last year. So that’s a significant increase, but by no means is excessive and. The essential services that the government provides need to be funded and for that reason.
    Working on ensuring that there is sufficient tax revenue remains a priority.
    And so social services, which was the 3rd question is just a portion of the overall essential services that that the government provides and is just a component on that actually. Maybe Marta can add on that point and cut you a can speak to the SOE reforms.


    Ms. Svirydzenka:     So should I go first? OK. So on the on the SOE restructuring, the most crucial element is that the state owned enterprises are managed in a prudent manner so as to avoid the accumulation of losses or debts that then would eventually need to be repaid by the taxpayers. And in that sense, the SOEs can be managed prudently while remaining state owned or they can be divested partially or completely.

    We are reassured by the authorities commitment to ensure that this enterprises do not become a burden for the budget or for the government debt in terms of other key elements under the program has been the cost, reflective pricing of services provided by so especially in the area of electricity and fuel prices. Other commitments under the program include making SOEs more transparent, in particular by publishing audited financial statements of the largest, SOEs in a timely manner.

    And then finally, to allow the economy to grow, it is important that the consumers of services receive the best value for the price of being charged. So this involves running, SOEs in the most efficient manner and ensuring that they are following the best governance principles. So in that sense, we’re quite satisfied with the progress, yes.


    Martha Tesfaye Woldemichael:     So let me maybe come in then to compliment a bit Peter’s response on the social spending, right. So there’s a question. Why social spending is increasing? I think this is a good opportunity to remind that protecting the poor and vulnerable is really an important component of the EFF program. So the EFF supports this objective through the different reforms through macro stabilization. But importantly, there is also a floor on social spending in the program that we assess on a quarterly basis. So this means the government has to spend a minimum amount to protect the poor and vulnerable.

    So in this context, the key commitment is really for the authorities to continue strengthening the coverage, the adequacy and the targeting of social spending. So recent announcement related to the expected decrease in the payments, for instance for the poor and extremely poor categories under a ASWASUMA or the.
    Announcement that the payments would also increase for the elderly, the disabled and chronic kidney patients are aligned with the authorities commitments to continue strengthening, strengthening social safety Nets and I think it is also very important to make sure that this coverage under the ASWASUMA program. Is above the poverty rates that are currently observed. I think I will stop here. Thank you very much. Back to you, Randa.


    Ms. Elnagar:     Thank you, Martha. We’re first going to take a question from Kelum.
    I think Shihar you had your hand raised, so it’s from the first question. So if you can, please put your hand down because it’s a bit confusing, but we’re going to go to Kellum 1st and then Asante. So Kelum, please go ahead.


    QUESTIONER:     Thank you. Can you hear me?


    Ms. Elnagar:     Yes.


    QUESTIONER:     Yes, I’m Kelum Bandara, from Daily Mirror newspaper. So my question is wanting the overall assessment about the budget, actually that was answered was that next day and the next question is, how important is it for the government to proceed with this Economic Transformation Act to reach the economic targets? Actually in searching by MFN or for the broader infrastructure of the country.


    Ms. Elnagar:      Thank you Asante. If you can, please pose your question.


    QUESTIONER:     Yeah, so, the government has started the import duty on vehicles, which just knocked out earlier. Yeah, I think all the taxes were kind of like excise taxes. And so have you made any assessment on whether this will lead to an increase in assembled vehicles, which earlier didn’t get this tax protection and how much leakage of revenue might happen to the assembled sector and whether any effect to publish a kind of a tax expenditure statement to say how much of the import duties lost due to any increase or the sales of the assembled vehicles which are like got CKD, I think tax free the parts and also have you had any discuss? With the central bank. On offloading their government securities now that the Treasury bills

    Ms. Elnagar: Thank you, Asantha. There is a question in the chat which we’re going to take and then move to the ones online. Amal, you didn’t verify your organization.


    QUESTIONER:     Oh, and I have actually done that. I’m from AFP, the French news agency, Agence France Press.


    Ms. Elnagar:     Hi would you like to ask? Yeah, because you post in the in the chat.


    QUESTIONER:     Oh yeah. I mean, if you want to save time, can just answer that.
    I mean basically I was trying to ask Peter how concerned you are about sort of emerging labor unrest, particularly now in the medical field. The doctors are threatening to go on strike from tomorrow, although there is a pay increase that the increase is less than the. Reduction of their allowances. So this is something that affects a lot of not just the medical sector. So how concerned are you that this kind of growing unrest, labor unrest, how it will affect the overall IMF backed program?


    Ms. Elnagar:      Peter, do you want to take another question?
    So they are three. So I think Indiqa is next.


    Mr. Breuer:      Well, there’s actually an under. It feels like there’s a bunch of questions.
    Should we try and answer these?


    Ms. Elnagar:      OK. Sounds good.


    Mr. Breuer:      And maybe Katya can speak to the Economic Transformation Act.
    And also to the central bank question so. On this important question with respect to the potential for unrest. Well, I suppose there is potential, but I think what really should be remembered is that this budget really sought to address some of the concerns that the government and ourselves have hurt that. You know, civil servants have been concerned about. The wages that they have been receiving and so.
    There is for the first time in a long time, an increase in civil service wages, while at the same time the personal income tax regime is were being changed and reducing personal income taxes considerably, at least for some. Income earners, including civil servants, you have to remember who are the ones who earn an income and pay taxes that really is the upper 20% of income earners in Sri Lanka. There has been a massive crisis in 2022 with huge costs to the population of Sri Lanka and in order for the government to keep on providing the essential services that the citizens of Sri Lanka expected, expect the government to provide and in order to bring along the poorer segments of society. Everyone who can needs to make a sacrifice.
    This is how the society can pull together and continue to function, and so.
    I think we all know how painful this crisis has been there’s no doubt about it.
    We have travelled around the country, we have met with many people.
    You know the plantation workers in Noro, alia have shown us their income statements and their bills. And it was very, very clear that this is a very severe crisis, but how else to address it. So, sticking with the reforms is really the best way out for Sri Lanka to assure its sustainability, and I think it’s important for everyone in Sri Lanka to recognize that.

    If you put it into the broader perspective the adjustment, this is the last budget.
    Where there is still a bit of an increase in in revenue is needed 1.5 percentage points of GDP, but all the hard adjustment has already taken place in the previous two years. You know revenue have increased 5 percentage points of GDP over the last two years. This is, you know, the last sort of big push. Not quite as big as in the previous years, and there after it’ll be much easier going forward.

    So on the cars I mean that’s a specific question. Does is there some import substitution? I can’t answer that. I would assume that after five years or so of a ban of imported cars that there will be some demand for finished cars from overseas.
    I do take your point that it’s possible that there may be some assembly of cars domestically.

    Katya, can you answer the other two questions please?


    Ms. Svirydzenka:     Sure. So on the economic transformation, bill, we understand there was a recent announcement that the new government will propose amendments to the bill. And so we look forward to reviewing the amended economic transformation bill. We expect it to be consistent with program objectives, including for example with the authorities’ commitment to refrain from granting tax.
    Incentives until the STP act is revised to provide clear and transparent criteria on the granting of tax incentives on the. Central Bank Securities, I understand the question was that the Central Bank has sold T-bills but has a stock of on marketable bonds. And this is correct. And under the program at this point, because there’s no market for this restructured bonds, we do not envision they unwinding of this stock and over the next 12 months you can see it in the program targets in table one on page 95 of the published report under the category of net credit to the government.
    I hope that answers the question. If I understood it correctly.

     

    QUESTIONER: So, I am trying to find out what’s the alternative if you want to sterilize the inflows. I mean, kind of issuing central banks equity or something, but you have reserve target.


    Ms. Svirydzenka:     Is this more than a question about the operation of monetary policy and how to sterilize reserve accumulation?


    QUESTIONER:     Yeah. Yeah. Because you don’t you?


    Ms. Svirydzenka    : Perhaps I misunderstood.


    QUESTIONER:     You no longer have the tables to sell. What is the alternative securities they can sell to build?


    Ms. Svirydzenka    : Yes, I understand. Thank you so much for clarifying. Yeah. So there are many alternatives that the Central bank can use. For example, they can engage in repo operations or also issue their own securities. But I guess what is important to highlight for your question is that the Central Bank so far has been able to meet the inflation target and if anything, they’re a little bit undershooting as you saw with the breach of the MPCC clause in June and in December. So in that sense, the central bank is quite effective in terms of reaching the inflation objectives and we think the tools they have in their, in their in their hands should be enough.


    Ms. Elnagar:      Thank you, Katya. We have more questions, Peter.
    We have Indika first please.


    QUESTIONER:      Hi, Randa. Thank you, I think. I hope I’m audible.


    Ms. Elnagar:     Yes you are.


    QUESTIONER:     My questions, question to Peter is in the budget, there is a budget proposal to recruit about 30,000 people to the public sector. So we already have a bloated public sector in the country. So what’s your what’s IMF’s opinion on that? And the other question is on their flight, electricity, the price, reflective electricity tariffs. So we were under the impression that that is already happening because the government is already. Adjusting prices periodically, but in the press release that was released on Friday. The sort of insinuated that Sri Lanka S deviated. What is what is the situation there? Thank you.


    Ms. Elnagar    : Peter, we can take a couple more questions this round.


    QUESTIONER:     Randa, I hope I’m audible.


    Ms. Elnagar:     Yes you are.


    QUESTIONER:     Great. I just have one question. Peter, could you please outline what are the key goal posts that Sri Lanka has to hit as it moves forward to the 4th review now, right. And when will there be an IMF delegation coming to Colombo?
    Thank you.


    Ms. Elnagar:     We can take more questions. There are two questions in the chat, Peter, One is asking, why was the proposed property tax under the IMF program withdrawn, and why wasn’t the existing under taxed Council tax system rebased instead? How much revenue was expected from the input rental tax and why could this be? Couldn’t this be raised adjusting Council taxes? There’s another one we can take, or that’s enough for now this round.


    Mr. Breuer:     Yeah. Why don’t we get going with these ones? Thank you.


    Ms. Elnagar:      Yeah, because Shehar already had a chance at the beginning, so let’s take a different group now. Thank you.


    Mr. Breuer:     So thanks so much for these questions. On the size of the public sector, that’s really not for us to judge the government needs to sort of identify the resources it needs to provide the services that it’s expected to provide.
    And do all of that within the envelope of the program. So there may be other institutions. The World Bank, for example, you know that can provide some more assistance, technical assistance to help with making the government as efficient as as possible. But. I don’t really have a comment there. The electricity tariff.
    So there was a reduction in the electricity tariffs in January, and this is when we feel that the cost reflective pricing was no longer met because on a forward-looking basis. That tariff cut meant that Ceb wouldn’t be able to avoid any losses.
    So these cuts. Essentially, at least on a forward-looking basis, implied that losses would be run now of course. These profits and losses by the electricity company depend on many factors, including the weather, the rain and so forth.
    So what turns out ex post may be different from what happens ex ante, but this is a concern that we have because it could mean that that starts building up again in the electricity company. That could ultimately become a contingent liability for the government. This is something that, of course, Sri Lanka has experienced before, and avoiding this and making sure that consumers on average pay for how much it costs to generate and distribute the electricity is an important part of the program.

    And this actually also goes towards answering the question of what are some of the main goal posts for the 4th review. So ensuring that cost reflective energy pricing is restored is of course a key. Part of what we would like to see for the next.
    Review I should say there are some mechanisms that give us hope that this will happen automatically. The SD bulk supply transaction account, which is sort of a mechanism that is supposed to kick in when losses at CB become too large when they are cash balances become. You know, negative beyond a certain value.
    Then there’s meant to be an automatic increase in the tariff. That would prevent these losses from accumulating, so so they are already mechanisms in place.
    It’s important that these mechanisms be allowed to function, and then, of course, at the next tariff setting, it’s important to ensure that tariffs will once again be set to  cover the costs. Another important Issue for the next review will of course be.
    The budget that the budget that is finally passed at the end of this month is in fact consistent with the program parameters. So this is something that we will be watching very carefully. So those are two issues that may matter.

    The next mission we expect to be visiting Colombo.in the coming weeks or months or so. So the exact dates will be announced closer to the time.
    With respect to the property tax. That is a property tax. Is very common in many countries it is a form of wealth tax whereby those who have more wealth, meaning more expensive homes, larger homes that are worth more, need to make larger contributions to the tax coffers and support the government. So, now it’s it had been discussed for quite some time previously, and in fact many preparations have been made under this program for property tax with respect to, you know sales price and rents register, and various databases to estimate the values of homes. So lots of preparations have been have been made. Then there were some concerns and this goes towards the question with respect to the local authorities how this tax could be raised and how it could be shared with at the at the central government level. So some of these issues still need to be resolved and so this is this is something I think that is as yet you know to be addressed. Let me stop there. Thank you.


    Ms. Elnagar:      Peter, we can take a couple more questions because we are out of time. So we can take from Sisira, who has been waiting patiently, and then we have a couple of questions in the chat. So Sisira, please go ahead. We can’t hear you.
    Sisira do you have a question? You have your hand raised?


    QUESTIONER:     Yeah. Can you hear me?


    Elnagar, Randa Mohamed:     Yes.


    QUESTIONER:      My question is, what is the impact?


    Ms. Elnagar:     Your mic is a bit muffled.


    QUESTIONER:     Can you hear me?


    Ms. Elnagar:     Peter, can you hear him?


    Mr. Breuer:     It’s very, very soft. I don’t know whether you can bring the mic closer to him.


    QUESTIONER:     Yeah, my question is what is the projected impact of Sri Lanka’s foreign reserves?


    Mr. Breuer:     I think the question is what is the impact of the car imports on reserves? Yeah, OK.


    Ms. Elnagar:     Vehicle import. Yeah. And then we have a couple of questions here.
    Amal already asked the question, a supplementary question regarding what Asantha raised about vehicle imports. So it’s the same topic and then we have. One from Ishara. Even though the IMF program has put Sri Lanka’s economy on the right track, a recent poverty study revealed that more than 50% of households are below the poverty line. Additionally, the Central bank mentioned that brain drain could severely impact efforts to accelerate growth. In this scenario, how can Sri Lanka reach its anticipated IMF recovery targets? And these are the last questions of the press conference.


    Mr. Breuer:    :Yeah. Thank you very much. On the car imports. So yes, removing the import restrictions on car imports will allow cars to be imported which means they have to be paid for and so that could have an impact on the balance of payments. But as you know there’s a question to what extent you know the Central bank should intervene to make those reserves available versus allowing the exchange rate to fluctuate in response to market forces. So, that is something that remains to be seen, but maybe just to highlight the fact that reserves have increased. Significantly, so far under the program they have reached about half of the program objective already, which is very impressive.

    On the question with respect to the anticipated IMF recovery targets, so. I think it’s quite clear that things really have turned around significantly in Sri Lanka. I mean, you all live there, so you experience it much more than us. But when I first got to Sri Lanka in June 2022. Everybody was standing in a line somewhere in, you know, to get fuel, to get cooking gas to get food or medications and economic activity was was very subdued, I think in real terms. Sri Lanka lost, you know, 10% or so of its economic activity. As a result of this crisis and since then in the short amount of time.
    That the program has been there basically since 2023 it has already recovered 40% of the income it has lost. In the preceding five years, so in a very short amount of time, you have already a very significant recovery. You have the most recent growth number of 5.5%.

    So I think things are turning around significantly in Sri Lanka and that will have an impact on the indicators that we care about, such as poverty, so.
    As economic opportunities return to Sri Lanka. Incomes will increase and poverty will be reduced, and also it’ll be more attractive to remain in Sri Lanka and not leave and emigrate or those who have emigrated may find opportunities back in in Sri Lanka again so. You know, as you look at our projections, we have increased these quite a bit. For 2025 and beyond and so based on these, I would say I’m quite optimistic about the recovery in Sri Lanka.


    Ms. Elnagar:     I think we’re out of time, Peter. If you guys have any further questions, please, please feel free to send them by e-mail. We are always very responsive or via WhatsApp. With that I would like to thank our speakers Peter, Katia, and Martha, and I would like to thank you all for participating in this press conference.
    We’re going to be posting the recording and the transcript by tomorrow.
    And we look forward in seeing to seeing you again in the future.
    Thank you very much.


    Mr. Breuer:      Thank you.

     

    Ms. Woldemichael: Thank you.


    Ms. Svirydzenka:     Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

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

    @IMFSpokesperson

    MIL OSI Economics –

    March 6, 2025

  • MIL-OSI USA: VIDEO: Peters Takes to Senate Floor to Denounce Trump Administration’s Illegal Firing of Thousands of Veterans Throughout Federal Workforce

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    WASHINGTON, DC – U.S. Senator Gary Peters (MI) delivered a speech on the Senate floor denouncing the Trump Administration’s illegal firing of thousands of veterans throughout the federal government. Veterans make up nearly 30 percent of the federal workforce, or approximately 640,000 employees. Since taking office, the Trump Administration has already laid off about 6,000 former servicemembers without cause, including veterans who worked in federal agencies like the Department of Veterans Affairs (VA), Department of Defense (DOD), and the Treasury Department for several years. In his remarks, Peters underscored the talent and value that veterans bring to the federal civil service and called on the Trump Administration to immediately reinstate these employees. 

    “Employing our nation’s veterans when they transition to civilian life is not just a responsibility, it is a smart business decision,” said Senator Peters. “That’s why the federal government has long taken advantage of this absolutely remarkable talent pool.”  

    Peters continued, “These are Americans who put their lives on the line to defend this country. They took up a job to continue to serve the people of this country. They represent the best of our nation, and we need them in our federal workforce. I’m calling on the Administration to reinstate these veteran employees immediately.” 

    To watch a video clip of Senator Peters’ remarks, click here.

    In his remarks, Peters also highlighted the stories of Michigan veterans who were impacted by these firings:

    “My staff met with a veteran who has worked for the VA in Michigan for nearly 30 years. Last year, they were moved to a new role within VA and were promoted to supervisor shortly thereafter. No surprise, because they had never received less than an excellent performance review over 30 years. But because they were relatively new to that specific role, they were swept up in the widespread firings, both within VA and across government, of all probationary employees. They were one of many veterans fired abruptly without cause, without reason.”

    “In another case, a veteran with 8 years of active-duty service in the Air Force was fired from a VA in Michigan after receiving an ‘outstanding’ performance review. Their probationary period was set to expire last week, just 12 days after they were let go.”

    Peters has been a continued advocate for America’s veterans. In January 2024, two bipartisan bills authored by Peters were signed into law to protect burial benefits for both veterans and military families. Peters also helped pass the Sergeant First Class Heath Robinson Honoring our Promise to Address Comprehensive Toxics (PACT) Act into law – which delivered VA health care and benefits to all generations of toxic-exposed veterans – and their survivors – for the first time in our nation’s history. In 2016, Peters’ Fairness for Veterans Act was signed into law to help veterans who may have been erroneously given less than honorable discharge from the military due to negative behavior resulting from mental health traumas, such as post-traumatic stress disorder (PTSD) or Traumatic Brain Injury (TBI). In 2017, Peters was recognized as Legislator of the Year by the Vietnam Veterans of America for his work authoring and enacting the Fairness for Veterans Act.   

    Peters served more than a decade in the U.S. Navy Reserve, where he earned a Seabee Combat Warfare Specialist designation and rose to the rank of Lieutenant Commander. After the September 11th terrorist attacks on our country, he volunteered again for drilling status and served overseas as part of his Reserve duty. 

    MIL OSI USA News –

    March 6, 2025

  • MIL-OSI USA: Tillis Leads Legislation to Eliminate Biden’s “Pill Penalty,” Restore Incentives for Life-Saving Drug Innovation

    US Senate News:

    Source: United States Senator for North Carolina Thom Tillis

    WASHINGTON, D.C. – This week, Senators Thom Tillis (R-NC), Ted Budd (R-NC), Marsha Blackburn (R-TN), James Lankford (R-OK), and Steve Daines (R-MT) introduced the Ensuring Pathways to Innovative Cures (EPIC) Act, bipartisan, bicameral legislation that fixes the Inflation Reduction Act’s small molecule “pill penalty” to ensure continued R&D investments into small molecule medicines. 

    “For patients battling cancer, rare diseases, and chronic conditions, timely access to innovative treatments can mean the difference between life and death,” said Senator Tillis. “Unfortunately, the Inflation Reduction Act disincentivizes research on small molecule treatments and undermines development of the most accessible and affordable medications. The EPIC Act of 2025 will ensure patients of today and tomorrow have uninterrupted access to life-saving and life-changing therapies.” 

    “President Biden’s Inflation Reduction Act ‘pill penalty’ has hindered important research and development for potentially life-saving cures,” said Senator Budd. “The EPIC Act will right this wrong by encouraging more investment in innovative medicines and treatments that are needed to help North Carolinians live long and healthy lives.”

    “Montanans in need of life-saving medicine should not have to worry about government overreach that stifles critical research and development for much-needed cures,” said Senator Daines. “I’m proud to join my colleagues in introducing this bill to bolster innovation so that Montanans and patients across the country can get the care they deserve.”

    “Incubate Coalition appreciates Senator Tillis’ leadership in addressing the flaws of the IRA and supporting the EPIC Act, which restores incentives for life sciences investment based on scientific potential rather than arbitrary policy barriers,” said John Stanford, Executive Director of the Incubate Coalition. “His dedication to ending the pill penalty will create a fairer system, drive innovation, and ensure patients have access to the breakthrough treatments they need.” 

    “The schizophrenia community has been marginalized for decades. Now, people with this brain disease stand to suffer even more as the IRA endangers the promise of new schizophrenia treatments,” said Gordon Lavigne, CEO of the Schizophrenia & Psychosis Action Alliance. “The EPIC Act is a much-needed fix that will help ensure that everyone with schizophrenia has access to a treatment that works for them. For the 2.5 million people living with schizophrenia in the United States, future treatment innovation is a matter of survival and dignity.”

    “As an organization representing the voice of cancer patients, survivors, and caregivers across America, the Cancer Support Community (CSC) would like to thank Senator Tillis alongside Senators Blackburn, Budd, Lankford, and Daines for introducing the Ensuring Pathways to Innovative Cures (EPIC) Act,” said Sally Werner, Chief Executive Officer, Cancer Support Community. “Small molecule drugs are essential for the treatment of many cancers and are more accessible for patients due to their cost and convenience of taking them at home. Innovative oral cancer drugs are bringing improved efficacy and reduced side effects to patients, improving their treatment and lives. The EPIC Act would eliminate the unnecessary distinction between small and large molecule drugs in the IRA, allowing both to be eligible for negotiation eleven years after FDA approval. We must continue to ensure that all patients have access to the treatment best suited for them and that policies accurately reflect the needs and input of patients who will be most impacted by them.”

    Background:

    Under the Inflation Reduction Act’s price-fixing model, small molecule drugs are eligible for selection in the “Medicare Drug Price Negotiation” program seven years after FDA approval. A two-year “negotiation period” follows, with price controls taking effect in year nine. Conversely, biologics become eligible for selection 11 years after FDA approval, with price controls going into effect in year 13. 

    The cost to bring a new drug to market can range from several hundred million to several billion dollars. The IRA is crippling innovation by reducing the ability to recoup losses incurred during drug research and development, with many pharmaceutical companies halting research into groundbreaking treatments. This has left individuals battling cancer, mental health conditions, and rare disease without hope.  

    The impact is already devastating. R&D funding for small molecule medicines has plummeted by 70% since the IRA’s introduction in September 2021 and funding continues to be shifted to other projects. According to a University of Chicago policy brief, due to the 9-13 disparity, 188 fewer small molecule medicines will come to market, leading to a staggering 116 million life-years lost. 

    Full text of the bill is available HERE. 

    MIL OSI USA News –

    March 6, 2025
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