NewzIntel.com

Category: Politics

  • PM Modi arrives in Trinidad and Tobago, receives ceremonial welcome

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi arrived in Trinidad and Tobago on Thursday (local time) for the second leg of his five-nation tour, receiving a ceremonial welcome from his counterpart Kamla Persad-Bissessar and senior members of the government.

    The PM was greeted at the Port of Spain airport by Persad-Bissessar, who was joined by 38 ministers and four members of parliament.

    The visit marks PM Modi’s first to the Caribbean nation as prime minister, and the first bilateral visit at the prime ministerial level since 1999.

    Persad-Bissessar wore traditional Indian attire to receive the PM Modi, in a gesture seen as a mark of respect for Indian culture. The Prime Minister was also accorded a guard of honour upon arrival.

    During his two-day visit, PM Modi will hold talks with President Christine Carla Kangaloo and Prime Minister Persad-Bissessar. 

    The PM is also expected to address a joint sitting of Trinidad and Tobago’s Parliament.

  • MIL-OSI USA: Tax Relief for the Heart of America

    Source: Congressman Nathaniel Moran (R-TX-01)

    Congressman Nathaniel Moran (R-TX-01) released the following statement after the House passed the final version of the “One, Big, Beautiful Bill” sending it to President Trump’s desk:

    “Today, we renewed our commitment to the American people: to the families working hard to make ends meet, to the small businesses striving to grow, and to the next generation who deserve to inherit a stronger, freer nation.

    With the final passage of the One, Big, Beautiful Bill, we are charting a bold course of individual prosperity and economic growth. One that lowers taxes, empowers families, strengthens rural communities, and reignites the engines of American industry. Failing to pass this bill would result in the largest tax increase in American history, and that’s not acceptable to me.

    This bill isn’t about Washington. It’s about the welder, lineman, teacher, small business owner, farmer, and every other hardworking East Texan. It’s about making sure they get to keep more of what they earn so they and their families can realize the American Dream with less interference from the federal government. 

    Like any major legislation, this bill is not perfect. But the outcome is a clear win for the American people. It reflects our belief that personal prosperity should never be punished; that government should never stand in the way of grit and hard work; and that the American Dream must remain within reach for every citizen, no matter their zip code.”

    Background on the “One, Big, Beautiful Bill”: 

     

    For Small Businesses:

    ·    Makes permanent the 199A small business deduction, supporting over 30 million small businesses and generating $284 billion in additional manufacturing-based economic growth

    ·    Reinstates immediate expensing for R&D, making it easier for businesses to invest in research practices that will make America dominant again

    ·    Revitalizes American manufacturing by allowing 100% immediate expensing for new factories, equipment, and facility improvements

    ·    Doubles the Small Business Expensing threshold to $2.5 million, allowing greater breathing room for small businesses so they can invest more in their employees

    ·    Reduces administrative burdens by repealing the Democrats’ $600 1099-K gig worker rule, and re-setting it to $2,000 threshold

    For Families:

    ·    Expands tax relief for families and seniors, including: no tax on tips, no tax on car loan interest, tax relief for those working overtime, and additional tax relief for seniors

    ·    Expands the enhanced standard deduction and increases the Child Tax Credit for over 40 million families

    ·    Empowers working families through permanent paid leave tax credits, expanded childcare access, and new savings accounts for every child at birth

    ·    Increases access to the Adoption Tax Credit for those families looking to change the lives of our little ones through the gift of adoption

    For Rural America:

    ·    Protects family farms and rural small businesses by making the doubled Death Tax exemption permanent

    ·    Revives and expands Opportunity Zones to bring $100 billion in investment to rural and distressed communities

    ·    Unleashes rural growth with 100% expensing for new factories, agricultural improvements, and equipment—empowering producers to expand and invest

    ###

    MIL OSI USA News –

  • MIL-OSI Russia: Islamic Republic of Mauritania: IMF Executive Board Completes Fourth Reviews of the Extended Arrangement under the Extended Credit Facility and the Extended Fund Facility Arrangement and Third Review of the Resilience and Sustainability Facility Arrangement

    Source: IMF – News in Russian

    July 3, 2025

    • The Executive Board of the International Monetary Fund (IMF) concluded the Fourth Reviews of Mauritania’s Extended Credit Facility and the Extended Fund Facility arrangements, and the Third Review under the Resilience and Sustainability Facility Arrangement. The decisions allow for an immediate disbursement of SDR 36.16 million (about US$ [49.2] million).
    • Rule-based fiscal consolidation, supported by robust tax collection, and flexibilization of the exchange rate —alongside ongoing reforms to monetary operations and banking supervision—have strengthened the Mauritanian economy resilience, amid heightened global uncertainties and regional security risks.
    • A strong reform agenda, including the recent adoption by the parliament of key anti-corruption laws, should bolster governance and help promote private sector investments.

    Washington, DC: The IMF Executive Board completed today the Fourth Reviews under the 42‑month blended Extended Credit Facility arrangement (ECF) and the Extended Fund Facility arrangement (EFF), and the Third Review under the Resilience and Sustainability Facility arrangement (RSF). The ECF/EFF were approved by the IMF Executive Board in January 2023 (see PR 23/15) and the RSF was approved in December 2023 (see PR23/465). The completion of the reviews allows for the immediate disbursement of SDR 36.16 million (about US$ 49.8 million) of which SDR 6.44 million (about US$ 8.9 million) under the ECF/EFF and SDR 29.72 million (about US$ 40.9 million) under the RSF, bringing the cumulative disbursements to SDR 125.9 million (about US$ 166.5 million).

    The Mauritanian economy has proven resilient, notwithstanding heightened global uncertainty and increasing regional security risks, with economic activity estimated to have decelerated slightly to 5.2 percent in 2024. Following a further deceleration to 4.0 percent in 2025, growth is expected to remain favorable in the medium term, supported by the government infrastructure drive and by private investment. Inflation is expected to remain contained within the Central Bank’s target. The reforms in the areas of governance, monetary and financial sector, investment policies, and vocational training are expected to support efforts to diversify the economy away from the extractive industries.

    Program performance has been strong, with all end-December 2024 quantitative targets met, and most of the structural benchmarks under the ECF/EFF implemented. Reforms under the RSF are also progressing.

    At the conclusion of the Executive Board’s discussion, Mr. Okamura, Deputy Managing Director and Chair stated:

    “Program performance under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements has been strong. Supported by the authorities’ prudent and well-calibrated policies, Mauritania’s economy continued to grow in 2024, albeit at a slower pace than in 2023, while inflation decreased. The fiscal performance, including the implementation of a fiscal anchor, is supporting the authorities’ medium-term goal of stabilizing debt. The current account widened in 2024, but international reserves remained at comfortable levels.”

    “The authorities’ prudent fiscal stance, underpinned by the fiscal anchor, helps insulate public spending from commodity price volatility and contributes to stabilizing debt. Continuing with this prudent fiscal policy, and complementing it with reforms in tax policy and administration, would create fiscal space for social spending and public investment while safeguarding the credibility of the medium-term budget framework.”

    “With inflation easing, the Central Bank of Mauritania has begun lowering interest rates. Effective liquidity management, supported by continued development of monetary policy instruments, helps anchor inflation expectations while fostering the development of domestic debt markets. Continued reforms to deepen the foreign exchange market would enhance exchange rate flexibility and resilience to external shocks. Strengthening the banking sector’s resilience requires close monitoring of financial sector trends and consistent enforcement of prudential regulations.”

    “Decisive implementation of structural reforms is essential to support higher, more inclusive and diversified, private-sector-led growth. Priorities include operationalizing recent governance reforms, strengthening accountability and transparency, developing human capital, promoting financial inclusion, and enhancing the business climate.”

    “Effective implementation of the ECF and EFF arrangements, along with intensified reform efforts under the Resilience and Sustainability Facility, will help Mauritania address its medium- and long-term challenges and secure additional financing. These programs aim to maintain adequate international reserves, strengthen macroeconomic policy frameworks, and promote sustainable growth, thereby supporting the country’s climate agenda, human capital development, and poverty reduction.”

    Mauritania: Selected Economic Indicators, 2020–25

    2020

    2021

    2022

    2023

    2024

    2025

    3rd Review

    Est.

    Projections

    National accounts and prices

    (Annual change in percent)

    Real GDP 

    -0.4

    0.7

    6.8

    6.5

    4.6

    5.2

    4.0

    Real extractive GDP

    7.1

    -19.2

    18.3

    9.4

    -0.5

    3.2

    -1.0

    Real non-extractive GDP

    -1.7

    6.0

    3.8

    5.9

    5.7

    5.6

    5.1

    Consumer prices (end of period)

    1.8

    5.7

    11.0

    1.6

    3.0

    1.5

    3.5

    Central government operations

    (in percent of nonextractive GDP, unless otherwise indicated)

    Revenues and grants

    20.8

    22.7

    25.0

    22.5

    24.1

    22.5

    25.6

    Nonextractive

    16.6

    16.2

    18.2

    17.0

    18.9

    18.1

    19.9

    Taxes

    10.9

    11.7

    13.4

    12.6

    14.3

    14.1

    15.5

    Extractive

    2.1

    4.2

    5.1

    3.7

    3.4

    3.2

    3.8

    Expenditure and net lending

    18.5

    20.8

    28.7

    25.0

    25.4

    23.9

    26.1

       Of which: Current

    12.0

    13.0

    17.2

    16.4

    15.5

    15.1

    14.4

       Capital

    6.6

    7.8

    11.5

    8.7

    9.8

    8.8

    11.7

    Primary balance (excl. grants)

    1.2

    0.5

    -4.5

    -3.3

    -2.1

    -1.6

    -1.5

    Overall balance (in percent of GDP)

    2.2

    1.9

    -3.7

    -2.5

    -1.2

    -1.4

    -0.5

    Public sector debt (in percent of GDP)

    56.5

    52.4

    48.5

    46.4

    44.3

    42.1

    41.2

    External sector

     

     

     

     

     

     

     

     

     

     

     

    Current account balance (in percent of GDP)

    -6.8

    -8.6

    -14.9

    -8.8

    -7.7

    -9.5

    -6.2

    Excl. externally financed extractive capital goods imports

    2.2

    1.0

    -0.8

    -0.3

    -1.4

    -1.4

    -0.2

    Gross official reserves (in millions of US$, eop)

    1,542

    2,347

    1,877

    2,032

    2,039

    1,921

    1846

    In months of prospective non-extractive imports

    6.7

    8.2

    6.2

    6.4

    6.5

    6.4

    5.9

    External public debt (in millions of US$)

    4,113

    4,204

    3,970

    3,959

    3921

    3,980

    4050

    In percent of GDP

    49.1

    45.8

    42.3

    40.0

    36.3

    36.3

    34.5
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Mayada Ghazala

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

    https://www.imf.org/en/News/Articles/2025/07/03/pr25240-mauritania-imf-comp-4th-rev-of-ext-arr-under-ecf-and-eff-arr-and-3rd-rev-of-rsf-arr

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA News: Presidential Message on the 162nd Anniversary of the Battle of Gettysburg

    Source: US Whitehouse

    Today, our Nation solemnly commemorates the 162nd anniversary of the Battle of Gettysburg—the single deadliest battle of the Civil War and a defining milestone in America’s epic struggle to preserve our Union and secure the sacred blessings of freedom and democracy. 

    In the spring of 1863, the Civil War had been raging for over 2 years, and the future of the United States hung in the balance.  Emboldened by a string of recent Confederate victories, General Robert E. Lee’s Army of Northern Virginia launched an invasion of the North with a set of clear goals: push the fighting from war-torn Virginia past the Mason-Dixon line, defeat the Union troops on their own soil, and force President Abraham Lincoln into peace negotiations.

    With the very fate of the Republic at stake, the Union forces remained steadfast in their resolve to defend the freedom of their fellow countrymen as their last full measure of devotion.  The Union Army of the Potomac—led first by General Joseph Hooker and then by General George Meade—marched north to pursue the Confederate forces.  Divisions of the two forces met near Gettysburg, Pennsylvania, on July 1, 1863.

    What began as an unplanned encounter quickly erupted into an epochal struggle with the entire war and the very fate of our Nation at stake.  As Union defensive lines, known as the famed “fishhook,” came under attack by Confederate forces from three directions, brother met brother amid fierce clashes in places whose names have been indelibly marked in the chapters of American history: Little Round Top, Devil’s Den, and the Peach Orchard, to name but a few.  With the failure of Pickett’s Charge on Cemetery Ridge on July 3, the battle was won, the high-water mark of the Confederacy had been reached, and the course of the remaining years of the Civil War was set.  The Confederacy would never recover from their loss at Gettysburg—paving the way to the ultimate surrender of Lee’s Army at Appomattox Court House on April 9, 1865, and the end of the Confederacy itself.

    From July 1-3, 1863, of the estimated 51,000 casualties on both side, 7,058 souls were lost—3,155 Union and 3,903 Confederate were, making the Battle of Gettysburg the bloodiest battle to ever take place on American soil.  Just months later, in November of 1863, President Lincoln would stand on these hallowed grounds and immortalize these heroic sacrifices in his historic Gettysburg Address, proclaiming that “we here highly resolve that these dead shall not have died in vain — that this nation, under God, shall have a new birth of freedom — and that government of the people, by the people, for the people, shall not perish from the earth.”

    These words continue to inspire citizens all across our land.  In the darkest days of our Nation’s history, thousands of courageous men left behind their homes and families for the noble causes of duty, honor, and country.  On the anniversary of the Battle of Gettysburg, we pay tribute to the patriots who valiantly shed their blood to cast out slavery and preserve our glorious Union.  Their unwavering courage, selfless sacrifice, and unfailing devotion to our founding principles define the eternal triumph of the American spirit. 

    MIL OSI USA News –

  • MIL-OSI USA: The One, Big, Beautiful Bill delivers on President Trump’s promises to the American people. It secures massive tax cuts for American families and businesses, complete border security, a supercharged economy, and accountability in taxpayer-funded programs,

    Source: United States House of Representatives – Representative Dale Strong (Alabama)

    WASHINGTON – Today, Representative Dale W. Strong (AL-05) issued the following statement after final passage of the One Big Beautiful Bill Act.

    “The One, Big, Beautiful Bill delivers on President Trump’s promises to the American people. It secures massive tax cuts for American families and businesses, complete border security, a supercharged economy, and accountability in taxpayer-funded programs, while reducing out-of-control government spending,” said Representative Dale Strong.  

    “From our space, defense, and manufacturing sectors to our working families, farmers, and small business owners — all of North Alabama will benefit from President Trump’s Big Beautiful Bill,” continued Strong.  

    ALABAMA WINS

    Marshall Space Flight Center

    • $4.1 billion for two Space Launch System rockets for the Artemis IV and V missions through Fiscal Year 2029
    • $20 million for Orion and integration of Orion with SLS
    • $100 million for construction and infrastructure projects at Marshall Space Flight Center

    Rural Healthcare

    • Locks in Alabama’s 6% hospital provider tax rate  
    • $50 billion national fund to support rural health through 2030, with $500 million in funding for Alabama in formula dollars alone  

    Farmers and Agriculture

    • Delivers much-needed enhancements in the farm safety net – including higher reference prices that reflect the current agricultural economy
    • Expands access to more affordable crop insurance while making it more responsive to risk

    National Defense  

    • $25 billion for the Golden Dome which Redstone Arsenal will play a significant role in supporting
    • $150 billion for defense spending through 2034, including $19 billion to restock America’s arsenal  

    Tax Cuts for Families and Small Businesses

    • Prevents a 22% tax hike for the average worker
    • Take-home pay for a family of 4 increases by $7,600-$10,900 per year  
    • No tax on tips, overtime pay, and made in America car loan interest
    • Additional tax relief for seniors

    AMERICA FIRST WINS
     

    Border Security Investments

    • 701 miles of primary wall and construction, and 900 miles of river barriers
    • Increases funding to ICE for transportation and mass deportation operations  
    • 3,000 new Border Patrol agents, 5,000 new Office of Field Operations customs officers

    Restores Fiscal Sanity

    • Cuts waste, fraud abuse of programs to preserve them for people who truly need them
    • Implements work requirements for able-bodied Americans without young dependents to receive SNAP and Medicaid  
    • Ends Medicaid benefits for 1.4 million illegal immigrants
    • Repeals Biden-era Green New Deal agenda  

    MIL OSI USA News –

  • There is a lot of excitement among people, says Indian envoy ahead of PM Modi’s Trinidad and Tobago visit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi’s visit to Trinidad and Tobago has generated “intense desire” for greater engagement and collaboration between the two countries, India’s High Commissioner to Trinidad and Tobago, Pradeep Singh Rajpurohit, said on Thursday.

    “There is a lot of enthusiasm and excitement among the people. Everyone is looking forward to this visit,” Rajpurohit told ANI. “There is already an intense desire here for broader cooperation across sectors. Both the people and the government are keen to build a longstanding, broad-based partnership with India.”

    Rajpurohit underlined the historical ties between the two countries, pointing out that nearly half of Trinidad and Tobago’s population is of Indian origin. “They have been here for the last 180 years. Many are now fifth- or sixth-generation descendants,” he said, adding that the diaspora has played a key role in preserving India’s heritage abroad.

    “There is great excitement among the diaspora. They closely follow developments in India and feel a deep emotional connection,” he said.

    The High Commissioner said discussions during the visit are expected to build on the groundwork laid during Modi’s visit to Guyana last year for the Second India-CARICOM Summit. “Many of the areas discussed then — agriculture, IT, health and pharmaceuticals, renewable energy — are likely to figure in talks again. We expect tangible outcomes,” he said.

    Rajpurohit noted that Trinidad and Tobago’s new government has several ministers of Indian origin. “There is great enthusiasm among them to bring the benefits of India’s growth journey here,” he said. He added that the country was the first in the Caribbean to adopt India’s flagship UPI platform and is working towards its implementation.

    (ANI)

  • There is a lot of excitement among people, says Indian envoy ahead of PM Modi’s Trinidad and Tobago visit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi’s visit to Trinidad and Tobago has generated “intense desire” for greater engagement and collaboration between the two countries, India’s High Commissioner to Trinidad and Tobago, Pradeep Singh Rajpurohit, said on Thursday.

    “There is a lot of enthusiasm and excitement among the people. Everyone is looking forward to this visit,” Rajpurohit told ANI. “There is already an intense desire here for broader cooperation across sectors. Both the people and the government are keen to build a longstanding, broad-based partnership with India.”

    Rajpurohit underlined the historical ties between the two countries, pointing out that nearly half of Trinidad and Tobago’s population is of Indian origin. “They have been here for the last 180 years. Many are now fifth- or sixth-generation descendants,” he said, adding that the diaspora has played a key role in preserving India’s heritage abroad.

    “There is great excitement among the diaspora. They closely follow developments in India and feel a deep emotional connection,” he said.

    The High Commissioner said discussions during the visit are expected to build on the groundwork laid during Modi’s visit to Guyana last year for the Second India-CARICOM Summit. “Many of the areas discussed then — agriculture, IT, health and pharmaceuticals, renewable energy — are likely to figure in talks again. We expect tangible outcomes,” he said.

    Rajpurohit noted that Trinidad and Tobago’s new government has several ministers of Indian origin. “There is great enthusiasm among them to bring the benefits of India’s growth journey here,” he said. He added that the country was the first in the Caribbean to adopt India’s flagship UPI platform and is working towards its implementation.

    (ANI)

  • MIL-OSI Economics: Bahrain Sees Robust Pipeline of Financial Institutions: 16 New Financial Institutions Licensed, 52 in Progress Surge of new financial institutions Reinforces Bahrain’s Regional Financial Hub Status

    Source: Central Bank of Bahrain

    Bahrain Sees Robust Pipeline of Financial Institutions: 16 New Financial Institutions Licensed, 52 in Progress Surge of new financial institutions Reinforces Bahrain’s Regional Financial Hub Status

    Published on 3 July 2025

    Manama, Bahrain – 3 July 2025: The Central Bank of Bahrain (CBB) has reported a significant increase in financial institution licensing, with 16 new financial firms approved and 52 additional applications underway from early 2024 through mid-2025.

    This surge highlights Bahrain’s growing appeal as a destination for digital-first financial services, with nearly 75% of the 68 applications coming from international applicants. The influx is expected to create over 850 jobs initially, with more opportunities anticipated as newly licensed firms scale their operations.

    The license applications span a diverse range of categories, including wholesale banks, payments, investment services, insurance, and crypto-asset services. This diverse portfolio reasserts Bahrain as a hub for financial innovation and solidifies its reputation as a competitive launchpad for regional and international firms.

    Notably, 16 applicants have been licensed during this period, including two wholesale banks, with additional bank license applications currently in the pipeline. The CBB continues to work closely with the remaining applicants to support them in meeting the licensing requirements.

    Commenting on this, H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain said, “This increase in licensing applications reflects the CBB’s dual mandate of ensuring stability while fostering growth, and underscores the strength of our regulatory framework and the Kingdom’s unique ability to attract innovation without compromising financial stability. This achievement is the result of close collaboration with our partners across government and industry, and reaffirms Bahrain’s role as a gateway for regional and global growth in financial services.”

    Central to this success is the CBB’s unified regulatory model, which provides licensees with a single point of contact across all financial sub-sectors. This model eliminates conflicting requirements from multiple authorities, streamlines compliance, and offers consistent oversight.

    The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain’s advancements in digital banking, payments infrastructure, and talent development.

    Share this

    MIL OSI Economics –

  • MIL-OSI USA: Scholten Statement on House Passage of Republicans’ ‘Big Ugly Bill’

    Source: United States House of Representatives – Congresswoman Hillary Scholten – Michigan

    After Republicans finally broke a historically long stalemate on the House Floor, they passed their Big Ugly Bill that will rip health care away from millions of Americans and raise costs on working families. On behalf of West Michiganders, Congresswoman Hillary Scholten (MI-03) voted no.

    “I just voted no on H.R. 1 for the good people of West Michigan—for our health care, for our children, for our farmers, for our seniors, for our veterans, and for each and every one of you. You need no further evidence of how disastrous this bill will be than the narrow margin by which it passed and the hours upon hours that it took House Republicans to be convinced that this bill was good for their constituents,” said Rep. Scholten.

    “Our work is not over. As I told my neighbors at my town hall last night, I will fight the provisions of this bill tooth and nail in the days ahead. There is nothing more important to me than ensuring our community is set up for success by the federal government – from access to quality health care, to affordable housing, to a fair tax system. This bill accomplishes none of those things. Today is a disappointing day for our nation, but we will continue to work towards the future that West Michigan deserves,” concluded Rep. Scholten.

    This betrayal of a bill:

    • Cuts roughly $1.3 trillion from health care and food assistance for families and gives roughly $1.3 trillion in tax breaks to people making over $500,000—a historic wealth transfer from middle-class Americans to the wealthiest few.
    • It makes the largest cut to health care in American history and will cause approximately 425,000 Michiganders to lose their health care.
    • It jeopardizes SNAP for the 34,000 MI-03 residents who participate in the program.
    • Increases household energy costs by an average of $400 and will lead to millions of jobs lost, $197 billion in lost wages, and $290 billion in economic investment that will be ceded to countries like China.
    • Will add $4 trillion to the national debt, including $700 billion in interest.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Scholten Statement on House Passage of Republicans’ ‘Big Ugly Bill’

    Source: United States House of Representatives – Congresswoman Hillary Scholten – Michigan

    After Republicans finally broke a historically long stalemate on the House Floor, they passed their Big Ugly Bill that will rip health care away from millions of Americans and raise costs on working families. On behalf of West Michiganders, Congresswoman Hillary Scholten (MI-03) voted no.

    “I just voted no on H.R. 1 for the good people of West Michigan—for our health care, for our children, for our farmers, for our seniors, for our veterans, and for each and every one of you. You need no further evidence of how disastrous this bill will be than the narrow margin by which it passed and the hours upon hours that it took House Republicans to be convinced that this bill was good for their constituents,” said Rep. Scholten.

    “Our work is not over. As I told my neighbors at my town hall last night, I will fight the provisions of this bill tooth and nail in the days ahead. There is nothing more important to me than ensuring our community is set up for success by the federal government – from access to quality health care, to affordable housing, to a fair tax system. This bill accomplishes none of those things. Today is a disappointing day for our nation, but we will continue to work towards the future that West Michigan deserves,” concluded Rep. Scholten.

    This betrayal of a bill:

    • Cuts roughly $1.3 trillion from health care and food assistance for families and gives roughly $1.3 trillion in tax breaks to people making over $500,000—a historic wealth transfer from middle-class Americans to the wealthiest few.
    • It makes the largest cut to health care in American history and will cause approximately 425,000 Michiganders to lose their health care.
    • It jeopardizes SNAP for the 34,000 MI-03 residents who participate in the program.
    • Increases household energy costs by an average of $400 and will lead to millions of jobs lost, $197 billion in lost wages, and $290 billion in economic investment that will be ceded to countries like China.
    • Will add $4 trillion to the national debt, including $700 billion in interest.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Harshbarger’s Statement on House Passage of President Trump’s One Big Beautiful Bill

    Source: United States House of Representatives – Representative Diana Harshbarger (R-TN)

    WASHINGTON, D.C. — Congresswoman Diana Harshbarger (TN-01) released the following statement after the U.S. House of Representatives passed President Donald J. Trump’s comprehensive One Big Beautiful Bill (OBBBA):

    “Today, the House took a historic step toward restoring trust in government by passing meaningful reforms that put the American people first. The One Big Beautiful Bill is about ensuring taxpayer dollars are used wisely, those who genuinely need help receive it, and our communities are safer, stronger, and more secure. This bill enhances Medicaid for the truly vulnerable, strengthens our border, cuts wasteful spending, and invests in the future of American families. It reflects the values of accountability, compassion, and commonsense that folks in East Tennessee and across the country expect from their government. That is why I voted yes for the One Big Beautiful Bill.” – Congresswoman Harshbarger

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Latta Votes to Ensure Tax Relief, Strengthen Medicaid, Prioritize American Energy Dominance, & Reduce Fraud & Abuse in Federal Government

    Source: United States House of Representatives – Congressman Bob Latta (R-Bowling Green Ohio)

    Latta Votes to Ensure Tax Relief, Strengthen Medicaid, Prioritize American Energy Dominance, & Reduce Fraud & Abuse in Federal Government

    Legislation Heads to President Trump to Sign into Law

    Washington, July 3, 2025

    Today, Congressman Bob Latta (R-OH-5) released the following statement after voting to ensure tax relief, strengthen Medicaid, prioritize American energy dominance, and reduce fraud and abuse in the federal government by supporting H.R. 1, the One Big Beautiful Bill Act:   

    “Northern Ohioans work hard to provide for their families, that’s why today I voted to ensure they receive the real tax relief they deserve through the One Big Beautiful Bill Act. This bill prioritizes American energy dominance, promotes economic growth, supports families, seniors, and small businesses, strengthens our border security. Most importantly, it puts America first, including our farmers who deserve the ability to grow their operations and access more flexible, lower-cost loans. Today’s vote takes us one step closer to cutting wasteful spending and reducing fraud and abuse in the federal government and I urge President Trump to quickly sign this bill into law.” 

    Read Congressman Latta’s statement following his support for the Energy and Commerce budget reconciliation markup here, and his statement after voting to send the Reconciliation Bill to the Senate here.  

    MIL OSI USA News –

  • MIL-OSI USA: Latta Votes to Ensure Tax Relief, Strengthen Medicaid, Prioritize American Energy Dominance, & Reduce Fraud & Abuse in Federal Government

    Source: United States House of Representatives – Congressman Bob Latta (R-Bowling Green Ohio)

    Latta Votes to Ensure Tax Relief, Strengthen Medicaid, Prioritize American Energy Dominance, & Reduce Fraud & Abuse in Federal Government

    Legislation Heads to President Trump to Sign into Law

    Washington, July 3, 2025

    Today, Congressman Bob Latta (R-OH-5) released the following statement after voting to ensure tax relief, strengthen Medicaid, prioritize American energy dominance, and reduce fraud and abuse in the federal government by supporting H.R. 1, the One Big Beautiful Bill Act:   

    “Northern Ohioans work hard to provide for their families, that’s why today I voted to ensure they receive the real tax relief they deserve through the One Big Beautiful Bill Act. This bill prioritizes American energy dominance, promotes economic growth, supports families, seniors, and small businesses, strengthens our border security. Most importantly, it puts America first, including our farmers who deserve the ability to grow their operations and access more flexible, lower-cost loans. Today’s vote takes us one step closer to cutting wasteful spending and reducing fraud and abuse in the federal government and I urge President Trump to quickly sign this bill into law.” 

    Read Congressman Latta’s statement following his support for the Energy and Commerce budget reconciliation markup here, and his statement after voting to send the Reconciliation Bill to the Senate here.  

    MIL OSI USA News –

  • MIL-OSI USA: Newhouse Statement on Passage of H.R. 1

    Source: United States House of Representatives – Congressman Dan Newhouse (4th District of Washington)

    Headline: Newhouse Statement on Passage of H.R. 1

    WASHINGTON, D.C. – Today, Rep. Dan Newhouse (WA-04) released the following statement upon final House passage of the Senate-amended H.R. 1. The legislation, which passed 218-214 now goes to President Trump’s desk to be signed into law. 

    “At the start of this Congress, we made a commitment to reduce government spending, keep taxes low for hard working Americans, and make reforms to federal assistance programs to ensure their long-term sustainability. This is by no means a perfect bill, but it delivers on our commitment while benefiting farmers, families, and small business owners across central Washington. 

    H.R.1 prevents the largest tax hike in American history, increases the Child Tax Credit, and unleashes American energy production to lower costs and reduce inflation. It makes the largest-ever investment in border security and makes our nation safer by strengthening our military. I was able to secure continued investment in our current and future nuclear energy fleet, which is vital to the Tri-Cities and the surrounding region. 

    We include major portions of the Farm Bill to deliver critical assistance for our farmers and ranchers, including my long-time priority of doubling the Market Access Program and Foreign Market Development Program to open new markets for our ag exports. I worked with House Leadership not once, but twice, to successfully prevent the sale of our public lands in this bill. 

    We are protecting Medicaid and SNAP for those who truly need it by requiring part-time work requirements for able bodied adults without dependents and establishing a $50 billion fund for our rural hospitals. By reducing improper payments to deceased individuals and defunct providers, we are ensuring there are more funds for the low-income individuals, families, and seniors who rely on the program. I am committed to keeping our rural hospitals open, and I will utilize my position on the House Appropriations Committee to do just that. 

    Working families, small businesses, rural hospitals, and farmers across Central Washington have been at the top of my mind throughout this process. For weeks since we first passed H.R. 1, I have heard from my constituents about the legislation’s benefits and downsides, and I have truly given serious thought to the legislation. This was a hard, thoroughly considered vote that I believe will benefit the people of my district.” 

    The following are provisions in H.R. 1 that Rep. Newhouse worked to secure.  

    Market Access for Farmers and Ranchers 

    • Doubles funding for the Market Access Program and Foreign Market Development Program to give Central Washington producers the upper hand in global markets.

    Nuclear Energy Tax Credits Preservation 

    • Protects the small nuclear reactor project in Richland.
    • Allows advanced nuclear projects to utilize the Production Tax Credit (45Y) and Investment Tax Credits (48E) once they have commenced construction.
    • Maintains the Nuclear Power Production Tax Credit (45U) through 2031 for existing nuclear reactors. 

    Protections for Rural Hospitals 

    • Commitments that funds from the Rural Health Transformation program will support rural hospitals in Washington state. 

    H.R. 1 delivers an economy that is pro-growth, pro-worker, pro-family, and pro-business:  

    • Makes the 2017 tax cuts permanent, preventing the largest tax hike in American history on the middle class.
    • Removes taxes on tips, overtime pay, and Social Security for seniors.
    • Makes permanent the 20 percent Small Business Tax Deduction, delivering $250 million in GDP growth and 5,000 jobs to Washington’s Fourth District annually.

    H.R. 1 makes historic investments into the agriculture industry:  

    • Increases the coverage level and affordability of certain crop insurance policies used by specialty crop producers.
    • Provides more affordable crop insurance for beginning farmers and ranchers for the first ten years of farming.
    • Expands access to standing disaster programs and conservation programs.
    • Improves the livestock programs to be more responsive to drought and predation and expands producer eligibility for the tree assistance program.

    H.R. 1 makes the largest investment into border security in American history: 

    • Funds over 700 miles of border wall at the southwest border.
    • Funds 3,000 new Border Patrol agents and 5,000 new Customs and Border Protection officers.
    • Invests in cutting-edge technology to combat the flow of fentanyl across the border.

    H.R. 1 makes common-sense reforms to Medicaid to ensure the program’s long-term sustainability: 

    • Work requirements for able-bodied adults without dependents to work, volunteer, or pursue further education 80 hours per month to receive benefits.
    • Prevents illegal immigrants from receiving taxpayer-funded benefits.
    • Ensures the program will continue to efficiently serve eligible participants who truly need it.
    • Establishes the Rural Health Transformation Program at $50 billion to states and to covered facilities including a wide array of small, rural, and Medicare-dependent hospitals, rural health clinics, community mental health centers, opioid treatment programs, and more.

    H.R. 1 reforms the Supplemental Nutrition Assistance Program (SNAP) to support recipients and end abuse of the program: 

    • Saves taxpayers nearly $200 billion through reforms to SNAP that ensure the program works the way Congress intended by reinforcing work, rooting out waste, and instituting long-overdue accountability incentives to control costs.
    • Implements modest state cost-share for SNAP to ensure states manage program resources responsibly.
    • Incentivizes correcting error rates in SNAP payments by allowing states with an error rate below six percent to be exempt from paying the cost-share for benefits.

    ### 

    MIL OSI USA News –

  • MIL-OSI USA: ‘Shameful, Dangerous, and Unforgivable’ | Pingree Statement on Final Passage of Trump’s Megabill

    Source: United States House of Representatives – Congresswoman Chellie Pingree (1st District of Maine)

    Today, after the U.S. House passed the One Big Beautiful Bill Act without any Democratic support, Maine First District Congresswoman Chellie Pingree released the following statement:

    Today, the House passed the most harmful, heartless, and regressive bill I’ve seen in my time in Congress. It’s difficult to overstate the scale of devastation this legislation will unleash on families across the country.

    This bill represents one of the largest wealth transfers in American history—cutting more than $1 trillion from Medicaid and putting health care for millions of people at risk. It slashes SNAP benefits by nearly $300 billion, threatening food security for working families and children. The burden this will put on states, whose budgets are already strained—particularly with respect to health care and food security—is enormous and will almost certainly lead to higher state and local taxes. And they’re doing it all to hand more than $1 trillion in tax breaks to billionaires and corporations, adding $3.3 trillion to the national deficit. They’re willing to sacrifice the health and wellbeing of hardworking Americans, struggling families, and marginalized communities to make the rich ever richer. It’s deeply immoral and needlessly cruel.

    And let’s not forget the absurd political vendettas and pet projects tucked in the bill, like raising taxes on clean energy, showering the oil and gas industry with subsidies, building the President’s so-called ‘Garden of Heroes’, and moving the Space Shuttle Discovery to Texas. It hands ICE over $75 billion—more than we spend in a year on the Marine Corps or medical research–to create a sprawling, secretive deportation force and a vast network of detention centers, enriching private prison companies while subjecting immigrant communities to unfathomable fear and suffering.

    The impact of this legislation here in Maine will be devastating. Tens of thousands could lose access to health care and food assistance. We’re already seeing the closure of hospitals and clinics across the state. This bill puts even more pressure on our state’s already strained health infrastructure. And immigrants in our communities—many of whom have already survived unimaginable hardship and who contribute actively to our communities and local economies—will be forced to live in even greater fear of being detained or disappeared.

    That Speaker Johnson chose to keep the procedural rule vote open for hours last night while holdouts made backroom deals with the President on their own pet issues, forcing debate on the bill into the dead of night, underscores the chaos that has defined this process from the very beginning. 

    Leader Jeffries’ extraordinary floor speech today laid bare just how dangerous and damaging this bill truly is, and how Republicans are betraying the people they represent. Meanwhile, it’s clear from the President’s own comments that he doesn’t even know what’s in his signature legislation, or that it will kick 17 million people off their health care. The ignorance and apathy on display is staggering.

    This bill is not about helping everyday Americans. It’s an assault on the working class, a gift to the ultra-wealthy, a climate disaster, and a ticking time bomb for the economy. 

    It’s shameful. It’s dangerous. And it’s unforgivable.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: REP LIEU VOTED NO ON TRUMP BILL TO CUT MEDICARE AND MEDICAID

    Source: United States House of Representatives – Congressman Ted Lieu (33 District of California)

    WASHINGTON – Today, Congressman Ted W. Lieu (D-Los Angeles County) issued the following statement after voting against Donald Trump’s Big Ugly Bill, H.R. 1. The bill passed the House 218-214 and will now be signed into law. In California, more than 2.3 million people will lose health insurance and 368,000 could lose access to food assistance because of this bill. 

    “Republicans just passed the Big Ugly Bill. The bill cuts approximately $1 trillion from Medicaid. The bill results in cuts of $500 billion to Medicare. The bill will kick 17 million Americans off their health care. The bill also cuts essential anti-hunger programs, increases utility bills, defunds Planned Parenthood, and blows a $4.5 trillion hole in the federal deficit. Why did Republicans go through all this trouble? To give tax breaks to billionaires.

    “I will not mince words: this is an absolute betrayal. A betrayal of hardworking Americans who are struggling with the high cost of living in Trump’s terrible economy. A betrayal of children, seniors, and veterans who rely on Medicaid, Medicare and anti-hunger programs.  A betrayal of everyone who believes our government should help our communities thrive, not make Americans sicker, hungrier, and poorer.

    “All 212 House Democrats voted no. We fought back against this bill every way we could. We assembled on the Capitol steps to call on four Republicans to stand up with us, I joined my colleagues to go live on social media to speak about how the American people will be harmed, and I demanded Republicans reverse their cuts to Medicaid and anti-hunger programs on the House Floor. Democratic Leader Hakeem Jeffries broke a record by speaking on the House Floor for nearly nine hours straight to delay the vote and share real stories of Americans who will be hurt by the Republican bill.

    “All we needed was four Republicans to do the right thing and protect their constituents. Instead, they voted to betray the American people. My heart breaks for the Americans who will be harmed by this bill. What Republicans did is shameful. This is a distressing moment in our nation’s history. But I will not stop fighting for you. House Democrats are in this for the long haul – we will not be silent, and we will keep doing everything we can to fight against the Republican attacks on everyday people.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Mike Levin Honors Nani Love as June 2025 Constituent of the Month

    Source: United States House of Representatives – Representative Mike Levin (CA-49)

    June 30, 2025

    Nani Love

    Vista, CA–Today, Rep. Mike Levin (CA-49) recognized Nani Love, a case manager and victim’s advocate at the North County LGBTQ Resource Center, as his June 2025 Constituent of the Month.

    Born and raised on O?ahu, Hawaii, Nani moved to the mainland and volunteered at the Center for two years before joining as full-time staff. She has been recognized for her outstanding work leading the organization’s housing service program, where she has connected countless families to wrap around services, referrals, and permanent housing.

    See below for Rep. Levin’s statement recognizing Nani Love in the Congressional Record:

    “M. Speaker, I am proud to recognize Nani Love as my June 2025 Constituent of the Month

    “As a young girl born and raised on O’ahu, Nani had a passion for serving others that has guided her entire life and career. Nani has served as a local government case manager and victim’s advocate in Southern California helping individuals through the toughest times in their life.

    “Nani volunteered as a case manager at the North County LGBTQ Resource Center and was hired full time to continue her work with LGBTQ community to access affordable housing and health care.

    “Nani’s dedication to helping others has made the community a better and safe place, and I am proud to honor her as my Constituent of the Month.”

    ABOUT THE CONSTITUENT OF THE MONTH PROGRAM:

    Rep. Levin’s Constituent of the Month program recognizes outstanding North County San Diego and South Orange County residents who have gone above and beyond to help their neighbors, give back to their community, and represent the best of our country. Rep Levin’s May 2025 Constituent of the Month was Rohen Vargo, the founder of a student-run blood pressure screening clinic, and his April 2025 Constituent of the Month was Amanda Reuther, an advocate for children with disabilities.

    ###

    MIL OSI USA News –

  • MIL-OSI Africa: Protecting Libyan lives: Mine Action partners unite to address the threats of Unexploded Ordnance (UXO) in Libya

    Source: APO – Report:

    .

    The United Nations Support Mission in Libya (UNSMIL) hosted yesterday a meeting for the Mine Action implementing partners, bringing together 22 participants, including national and international non-governmental organizations (NGOs). The meeting, co-organized by the Libyan Mine Action Centre (LibMAC) and the Mine Action Programme, was joined by UNICEF, and representatives from the League of Arab States, Ghana, Italy, and the United Kingdom.

    Director of LibMAC, Khalil Elshelb, provided an update on the development of the Libyan Mine Action Strategy, announced on Mine Action Day last year as a key sector priority. The Libyan Mine Action Standards are currently under review—a crucial step in implementing the strategy—with support from the Geneva International Centre for Humanitarian Demining (GICHD) and the Mine Action Programme.

    LibMAC identified Mezda, the Mashrou Al Mooz (Banana Project) area between Ain Zara and Alsabaa in Tripoli, and Khalij al-Bumbah in the east as priority zones due to high contamination levels. It also shared the results of a three-week response to recent clashes in Tripoli, which caused new UXO contamination across 14 neighborhoods. LibMAC tasked NGO Explosive Ordnance Disposal (EOD) and Explosive Ordnance Risk Education (EORE) teams with response efforts. Awareness activities reached around 19,500 people, including more than 4,700 women and 3,800 children.

    Chief of the Mine Action Programme, Fatma Zourrig, emphasized the need for stronger collaboration between international and national NGOs. She highlighted the importance of ensuring access to remote areas, supporting life-saving efforts, and expanding outreach to affected communities. Zourrig also reiterated the technical support offered by the Mine Action Programme and urged all stakeholders to take part in an upcoming capacity-mapping exercise, which will serve as a key advocacy tool for the sector.

    Four international and three national NGOs presented activity updates from April to June 2026, covering progress in clearance and risk education. Discussions addressed key challenges, including reduced funding, limited non-technical staff capacity to identify minefields, and the dangers of individuals collecting metal objects—often remnants of war—for resale. This practice has contributed to an increase in UXO-related incidents and civilian casualties.

    – on behalf of United Nations Support Mission in Libya (UNSMIL).

    MIL OSI Africa –

  • MIL-OSI Africa: South Africa: Select Committee on Public Infrastructure Welcomes the Department’s Bold Reform Agenda for Infrastructure and Job Creation

    Source: APO – Report:

    .

    The Select Committee on Public Infrastructure and Minister in the Presidency has welcomed the Department of Public Works and Infrastructure’s strategic and annual performance plans for the 2025/26 financial year.

    The Chairperson of the committee, Mr Rikus Badenhorst, described the plans as a clear and credible turning point for infrastructure-led development in South Africa. He said: “This is not a mere tweak of the department, but a fundamental shift in how it understands and executes its core mandate. Minister Macpherson agenda marks a critical departure towards a department that is a catalyst for infrastructure-led growth, a partner in job creation, and a driver of economic recovery.”

    Following a detailed presentation by the Minister of the department, Mr Dean Macpherson, the committee affirmed its support for the department’s renewed vision to serve as a catalyst for economic recovery, job creation, and inclusive growth. The plans are strongly aligned to the National Development Plan and Medium-Term Strategic Framework, and reflect an earnest commitment to reform, delivery and measurable impact.

    At the centre of this renewed vision is the repositioning of the Expanded Public Works Programme (EPWP) from a temporary job relief measure to a structured, skills-based employment pipeline. With a R7.2 billion allocation over the MTEF period, this reform aims to transform the EPWP into a credible contributor to long-term, dignified employment.

    Mr Badenhorst said the shift from welfare to workforce is one of the most important interventions in restoring both human dignity and economic resilience, remarked. “We will monitor its implementation with keen interest,” emphasised Mr Badenhorst.

    The committee also welcomed the department’s strategic focus on urban regeneration, repurposing hijacked and underutilised buildings, and optimising state assets for greater public value, particularly within inner-city precincts. This renewed developmental posture is essential to reversing years of stagnation, inefficiency and fiscal wastage.

    Minister Macpherson was frank in his assessment of the department’s historic shortcomings, including systemic inefficiencies, audit deficiencies, and skills shortages. The committee commended the Minister’s openness, and noted the department’s new risk management framework as a strong response, particularly its intention to clamping down on tender irregularities, tighten controls on lease agreements, and combat collusion in the supply chain.

    Committee members posed rigorous questions during the session, including queries about the R589 million allocation for infrastructure support, the need to strengthen capacity in the EPWP, and concerns about the alignment of budget allocations with strategic intent. Particular attention was given to the transition to digital systems and its impact on job security, as well as the Department’s plans to reduce its lease portfolio and address the long-standing maintenance backlog across government buildings.

    In response, the department indicated its commitment to prudent asset management, exploring alternative ownership models, and ensuring that modernisation does not come at the expense of employment or service continuity.

    Mr Badenhorst said to Minister Macpherson: “It is clear that you bring political will to the table. This committee will match it with rigorous oversight, constructive engagement, and institutional support. Together, we can turn this department, and indeed South Africa, into a construction site of progress.”

    The committee reaffirmed its commitment to supporting the department’s reform trajectory, underscoring the centrality of infrastructure to the nation’s economic and social recovery.

    – on behalf of Republic of South Africa: The Parliament.

    MIL OSI Africa –

  • MIL-OSI Africa: International Monetary Fund (IMF) Executive Board Completes the Second Reviews Under the Extended Credit Facility and the Resilience and Sustainability Facility Arrangements with the Republic of Madagascar

    Source: APO – Report:

    .

    • The IMF Executive Board completed the Second Reviews under the Extended Credit Facility (ECF) arrangement and the Resilience and Sustainability Facility (RSF) arrangement for the Republic of Madagascar, allowing for an immediate disbursement of SDR 77.392 million (about US$107 million).
    • Madagascar’s performance under the ECF and RSF has been satisfactory. The recent adoption of a recovery plan for the public utilities company (JIRAMA) and the continued implementation of the automatic fuel price adjustment mechanism will release space for critical development needs while helping improve energy supply.
    • Recent weather-related events, reduction in official development assistance (ODA) and the U.S tariff hike risk setting Madagascar back; they constitute a wakeup call.

    The Executive Board of the International Monetary Fund (IMF) completed today the Second Reviews under the 36-month Extended Credit Facility (ECF) arrangement and under the 36-month Resilience and Sustainability Facility (RSF) arrangement. The ECF and RSF arrangements were approved by the IMF Executive Board in June 2024 (see PR24/232). The authorities have consented to the publication of the Staff Report prepared for this review.[1]

    The completion of the reviews allows for the immediate disbursement of SDR 36.66 million (about US$50 million) under the ECF arrangement and of SDR 40.732 million (about US$56 million) under the RSF arrangement.

    Madagascar has been hit by a myriad of shocks this year, including weather-related events and the dual external shock of ODA reduction (by about 1 percent of GDP) and U.S. tariff hike (47 percent initially). These developments would take a toll on growth, considering the country’s high dependence on external financial support and the exposure of its vanilla sector and textile industry to the U.S. market. Growth in 2025 would be lower-than-previously expected at 4 percent.

    The current account deficit widened to 5.4 percent of GDP in 2024, due to continued weak performance in some mining subsectors; it is expected to widen further (to 6.1 percent of GDP) this year, amidst challenging prospects in the textile industry and the vanilla sector.

    Program performance has been satisfactory, with all end-December 2024 quantitative performance criteria and three out of four indicative targets having been met. M3 growth was within the bands of the Monetary Policy Consultation Clause. All but one structural benchmark for the review period were also met. On the RSF front, a new forest carbon framework that promotes private sector participation in the reforestation was adopted and the National Contingency Fund for disaster risk management was operationalized.

    At the conclusion of the Executive Board discussion, Mr. Nigel Clarke, Deputy Managing Director, and Acting Chair, made the following statement:

    “Performance improved gradually over the first half year of the program, following delays related to mayoral elections; all but one of the end-December 2024 quantitative targets were met, and notable progress was achieved in the structural reform agenda. Recent weather-related and external shocks call for spending reprioritization, deliberate contingency planning in budget execution, and letting the exchange rate act as a shock absorber.

    “The recent adoption of a recovery plan for the public utilities company (JIRAMA) is a step in the right direction. Its swift implementation will help address pervasive disruptions in the provision of electricity to households and businesses, while limiting calls on the State budget. The continued implementation of the automatic fuel pricing mechanism will also help contain fiscal risks with targeted measures to support the most vulnerable.

    “Pressing ahead with domestic revenue mobilization efforts and enhancing public financial management and the public investment process remain key to fiscal sustainability. Early preparations for the 2026 budget will allow for stronger buy-in from domestic stakeholders; the budget should be anchored in a well-articulated medium-term fiscal strategy that accounts for the implementation of JIRAMA’s recovery plan and creates space for critical development spending.

    “While inflation has receded slightly from its January peak, the central bank (BFM) should not loosen monetary policy until inflation is on a firm downward path. Further improvements in liquidity management, forecasting and communication will strengthen the implementation of the BFM’s interest-based monetary policy framework. Maintaining a flexible exchange rate will help absorb external shocks.

    “A swift implementation of the authorities’ anti-corruption strategy (2025-2030), together with a homegrown action plan for implementing key recommendations from the IMF Governance Diagnostic Assessment (GDA), will improve transparency and the rule of law, support the authorities fight against corruption and protect the public purse.

    “The authorities’ continued commitment to their reform agenda under the Resilience and Sustainability Facility (RSF) will support climate adaptation in Madagascar and complement the Extended Credit Facility (ECF) in fostering overall socio-economic resilience.”

    Table. Madagascar: Selected Economic Indicators

    2022

    2023

    2024

    2025

    2026

    Est.

    Proj.

    (Percent change; unless otherwise indicated)

    National Account and Prices

    GDP at constant prices

    4.2

    4.2

    4.2

    4.0

    4.0

    GDP deflator

    9.6

    7.5

    7.6

    8.3

    7.0

    Consumer prices (end of period)

    10.8

    7.5

    8.6

    8.3

    7.3

    Money and Credit

    Broad money (M3)

    13.8

    8.6

    14.6

    13.7

    8.7

    (Growth in percent of beginning-of-period money stock (M3))

    Net foreign assets

    0.8

    18.2

    9.8

    1.5

    1.4

    Net domestic assets

    13.0

    -9.7

    4.8

    12.2

    7.4

    of which: Credit to the private sector

    9.8

    0.7

    5.6

    6.0

    6.2

    (Percent of GDP)

    Public Finance

    Total revenue (excluding grants)

    9.5

    11.5

    11.4

    11.2

    12.0

    of which: Tax revenue

    9.2

    11.2

    10.9

    10.7

    11.7

    Grants

    1.3

    2.3

    2.3

    0.7

    0.4

    Total expenditures

    16.2

    17.9

    16.2

    15.7

    16.5

    Current expenditure

    10.8

    10.9

    9.6

    9.7

    9.5

    Capital expenditure

    5.4

    7.0

    6.6

    6.0

    7.0

    Overall balance (commitment basis)

    -5.5

    -4.2

    -2.6

    -3.9

    -4.1

    Domestic primary balance1

    -1.8

    -0.3

    1.3

    0.3

    1.4

    Primary balance

    -4.9

    -3.5

    -1.9

    -2.9

    -3.0

    Total financing

    4.7

    4.2

    2.7

    4.3

    4.3

    Foreign borrowing (net)

    2.4

    3.0

    2.6

    3.5

    3.7

    Domestic financing

    2.2

    1.2

    0.1

    0.8

    0.5

    Fiscal financing need2

    0.0

    0.0

    0.0

    0.0

    0.0

    Savings and Investment

    Investment

    21.8

    19.9

    22.2

    23.1

    24.2

    Gross national savings

    16.8

    15.9

    16.9

    17.0

    18.2

    External Sector

    Exports of goods, f.o.b.

    23.0

    19.5

    14.8

    13.5

    13.2

    Imports of goods, c.i.f.

    33.8

    28.0

    26.4

    25.7

    25.5

    Current account balance (exc. grants)

    -6.6

    -6.3

    -8.1

    -6.8

    -6.4

    Current account balance (inc. grants)

    -5.4

    -4.1

    -5.4

    -6.1

    -6.0

    Public Debt

    50.0

    52.7

    50.3

    50.9

    52.2

    External Public Debt (inc. BFM liabilities)

    36.1

    37.8

    36.7

    38.5

    40.4

    Domestic Public Debt

    13.9

    14.8

    13.6

    12.4

    11.7

    (Units as indicated)

    Gross official reserves (millions of SDRs)

    1,601

    1,972

    2,189

    2,297

    2,337

    Months of imports of goods and services

    4.2

    5.7

    6.2

    6.2

    6.0

    GDP per capita (U.S. dollars)

    529

    533

    569

    596

    621

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

    1. Primary balance excl. foreign-financed investment and grants.

    2. A negative value indicates a financing gap to be filled by budget support or other financing still to be committed or identified.

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

    – on behalf of International Monetary Fund (IMF).

    MIL OSI Africa –

  • MIL-OSI: Linkage Global Inc Announces First Half 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TOKYO, July 03, 2025 (GLOBE NEWSWIRE) — Linkage Global Inc (“Linkage Cayman”, or the “Company”), a cross-border e-commerce integrated services provider headquartered in Japan, today announced its unaudited financial results for the six months ended March 31, 2025.

    First Half 2025 Selected Financial Metrics

    • Total revenues decreased by approximately $1.30 million to approximately $3.50 million for the six months ended March 31, 2025, compared to approximately $4.80 million for the same period of 2024.
    • Gross profit increased by approximately $1.99 million to $2.70 million for the six months ended March 31, 2025, from approximately $0.71 million for the same period of 2024. Cross-border sales margin improved from 12.70% to 21.31%, while integrated e-commerce services margin rose from 50.67% to 93.56% during the same period.
    • Net loss increased from approximately $1.41 million for the six months ended March 31, 2024 to approximately $3.09 million for the six months ended March 31, 2025.

    First Half 2025 Financial Results

    Revenues

    Total revenues declined by approximately $1.30 million, or 27.02%, from approximately $4.80 million for the six months ended March 31, 2024, to approximately $3.50 million for the same period of 2025, mainly due to a sharp drop in cross-border sales.

    Revenues from cross-border sales fell by approximately $3.74 million, or 82.35%, from approximately $4.54 million for the six months ended March 31, 2024 to approximately $0.80 million for the six months ended March 31, 2025. EXTEND, our Japanese subsidiary, contributed $0.43 million or 12.32% of total revenue, down 87.66% year-over-year. This decline was driven by poor market response to its 3C electronics product strategy. In response, the Company shifted focus to higher-margin, fully managed e-commerce services and reallocated staff accordingly. The cross-border business is now being restructured, with new product selections and the Company plans to explore TikTok store and livestream sales in Japan.

    Revenues from Integrated e-commerce services surged by $2.44 million, or 930.08%, from approximately $0.26 million to $2.70 million for the six months ended March 31, 2025, largely due to the launch of fully managed e-commerce operations in 2025. This new model, contributing $2.59 million in revenue and $2.46 million in gross profit, involves end-to-end store management for merchants, with fees based on gross merchandize volume (GMV).

    Revenues from digital marketing dropped from approximately $0.13 million for the six months ended March 31, 2024 to approximately $0.08 million for the six months ended March 31, 2025, after ending the Google partnership in January 2025 and beginning deregistration in April. Revenues from training and consulting, TikTok agent services declined by $0.10 million, or 75.25%, from $0.13 million to $0.03 million.

    Cost of Revenues

    Cost of revenues fell 80.34%, from approximately $4.09 million for the six months ended March 31, 2024, to approximately $0.80 million for the same period in 2025. This was mainly due to a sharp drop in cross-border sales costs, which declined $3.33 million, or 84.09%, from $3.96 million to $0.63 million, reflecting reduced procurement in line with lower sales. In contrast, costs for integrated e-commerce services rose $0.04 million, or 34.55%, from $0.13 million to $0.17 million. Of this, $0.13 million was related to the new fully managed e-commerce business, primarily covering staff salaries. Commission costs declined due to the termination of related services.

    Gross Profit        

    Gross profit increased by approximately $1.99 million, or 280.57%, from approximately $0.71 million to approximately $2.70 million, mainly driven by the new fully managed e-commerce business, which contributed $2.46 million in profit with a 95.12% margin. The high margin was due to low operating costs, mostly staff salaries, with no enterprise resource planning development expenses in the current period as they were previously recognized. Cross-border sales margin improved from 12.70% to 21.31% due to a shift toward higher-margin products. Integrated e-commerce services margin rose from 50.67% to 93.56%, also driven by the new business model.

    Operating Expenses

    Operating expenses rose by 91.01%, from approximately $2.27 million to approximately $4.34 million, mainly due to higher general and administrative expenses, which increased 123.94%, from $1.74 million to $3.90 million for the six months ended March 31, 2025, which was primarily attributable to the allowance for credit loss, stock-based compensation and post-IPO financial and legal consulting fees.

    Selling and marketing expenses dropped 31.15%, from approximately $0.23 million to approximately $0.16 million, due to lower freight and advertising costs, as well as lower marketing and promotion expenses.

    Research and development expenses declined 7.87%, from approximately $0.30 million to approximately $0.27 million, as ERP development staff shifted to operational roles and their salaries were reclassified under business costs.

    Other Expenses

    Other expenses mainly include non-operating income and interest expenses, net. Non-operating income rose from $998 to approximately $0.39 million. Net interest expenses increased significantly from approximately $0.06 million to approximately $1.50 million, mainly due to the issuance of $10 million in convertible bonds in October 2024, with an actual interest rate of 42.52%, generating $1.56 million in interest expenses during the reporting period.

    Income Tax (Provision)/Benefit

    Income tax (provision) /benefit decreased by approximately $0.56 million, from approximately $0.02 million of tax benefit for the six months ended March 31, 2024 to approximately $0.34 million of tax expenses for the six months ended March 31, 2025. This decrease was primarily attributable to net profit for the fully managed e-commerce operation services with a tax rate of 16.5%.

    Net Loss

    As a result, net loss increased by approximately $1.68 million, or 119.62%, from approximately $1.41 million to approximately $3.09 million.

    About Linkage Global Inc

    Linkage Global Inc is a holding company incorporated in the Cayman Islands with no operations of its own. Linkage Cayman conducts its operations through its operating subsidiaries in Japan, Hong Kong, and mainland China. As a cross-border e-commerce integrated services provider headquartered in Japan, through its operating subsidiaries, the Company has developed a comprehensive service system comprised of two lines of business complementary to each other, including (i) cross-border sales and (ii) integrated e-commerce services. For more information, please visit www.linkagecc.com.

    Safe Harbor Statement

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s annual reports on Form 20-F and other filings with the U.S. Securities and Exchange Commission.

    For more information, please contact:

    Investor Relations

    WFS Investor Relations Inc.

    Connie Kang, Partner

    Email: ckang@wealthfsllc.com

    Tel: +86 1381 185 7742

       
    Linkage Global Inc
    UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
    AS OF MARCH 31, 2025 AND SEPTEMBER 30, 2024
    (In U.S. dollars, except for share and per share data, or otherwise noted)    		  
       
        As of
    March 31,
    2025    		     As of
    September 30,
    2024    		  
        USD  
    ASSETS            
    Current assets            
    Cash and cash equivalents     328,081       2,000,732  
    Accounts receivable, net     6,405,486       6,302,696  
    Inventories, net     35,675       66,331  
    Deposits paid to media platforms     —       482,650  
    Prepaid expenses and other current assets, net     1,625,517       2,689,581  
    Amount due from related parties     1,243,450       —  
    Short-term loan to third party     8,993,306       410,000  
    Interest receivable from loan to third party     386,261       —  
    Total current assets     19,017,776       11,951,990  
                     
    Non-current assets                
    Property and equipment, net     50,594       85,807  
    Right-of-use assets, net     516,167       653,730  
    Total non-current assets     566,761       739,537  
    TOTAL ASSETS     19,584,537       12,691,527  
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
    Current liabilities                
    Accounts payable     324,069       624,723  
    Accrued expenses and other current liabilities     303,413       236,813  
    Short-term debts     —       32,810  
    Current portion of long-term debts     243,557       428,702  
    Contract liabilities     208,483       533,625  
    Amounts due to related parties     —       314,544  
    Lease liabilities – current     203,600       231,978  
    Convertible notes     7,884,325       964,865  
    Interest payable of convertible notes     1,555,689       —  
    Income tax payable     850,866       1,017,619  
    Total current liabilities     11,574,002       4,385,679  
                     
    Non-current liabilities                
    Long-term debts     734,023       839,560  
    Lease liabilities – non-current     334,973       441,504  
    Total non-current liabilities     1,068,996       1,281,064  
    Total liabilities     12,642,998       5,666,743  
                     
    Commitments and contingencies (Note 21)                
                     
    Shareholders’ equity                
    Class A ordinary shares (par value of US$0.0025 per share; 998,000,000 ordinary shares authorized, 3,080,000 and 2,150,000 ordinary shares issued and outstanding as of March 31, 2025 and September 30, 2024, respectively) *     7,700       5,375  
    Class B ordinary shares (par value of US$0.0025 per share; 2,000,000 ordinary shares authorized, 700,000 and nil ordinary shares issued and outstanding as of March 31, 2025 and September 30, 2024, respectively) *     1,750       —  
    Additional paid in capital     8,564,021       5,591,596  
    Treasury Shares     (500 )     —  
    Statutory reserve     11,348       11,348  
    Retained earnings     (1,474,142 )     1,613,217  
    Accumulated other comprehensive loss     (168,638 )     (196,752 )
    Total shareholders’ equity     6,941,539       7,024,784  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY     19,584,537       12,691,527  
       
    Linkage Global Inc
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
    FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024
    (In U.S. dollars, except for share and per share data, or otherwise noted)    		  
       
        For the six months ended
    March 31,    		  
        2025     2024  
        USD  
    Revenues     3,501,947       4,798,363  
    Cost of revenues     (804,142 )     (4,089,486 )
    Gross profit     2,697,805       708,877  
                     
    Operating expenses                
    General and administrative expenses     (3,904,027 )     (1,743,309 )
    Selling and marketing expenses     (157,637 )     (228,956 )
    Research and development expenses     (274,371 )     (297,811 )
    Total operating expenses     (4,336,035 )     (2,270,076 )
    Operating loss     (1,638,230 )     (1,561,199 )
                     
    Other expenses                
    Interest expenses, net     (1,496,504 )     (60,726 )
    Other non-operating income     387,816       998  
    Total other expenses     (1,108,688 )     (59,728 )
                     
    Loss before income taxes     (2,746,918 )     (1,620,927 )
    Income tax (provision)/ benefit     (340,441 )     215,161  
    Net loss     (3,087,359 )     (1,405,766 )
    Net loss attributable to the Company’s ordinary shareholders     (3,087,359 )     —  
    Other comprehensive income/(loss)                
    Foreign currency translation adjustment     28,114       (10,107 )
    Total comprehensive loss attributable to the Company’s ordinary shareholders     (3,059,245 )     (1,415,873 )
                     
    Loss per ordinary share attributable to ordinary shareholders                
    Basic and Diluted*     (0.90 )     (0.67 )
    Weighted average number of ordinary shares outstanding                
    Basic and Diluted*     3,415,533       2,084,890  
       
    Linkage Global Inc
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024
    (In U.S. dollars, except for share and per share data, or otherwise noted)    		  
       
        For the six months ended
    March 31,    		  
        2025     2024  
        USD  
    CASH FLOWS FROM OPERATING ACTIVITIES:            
    Net loss     (3,087,359 )     (1,405,766 )
                     
    Adjustments to reconcile net loss to net cash used in operating activities:                
    Effect of exchange rate changes     202,551       1,184  
    Allowance for credit loss     1,344,218       568,229  
    Interest payable of convertible notes     1,555,689       —  
    Interest receivable from loan to third party     (386,261 )     —  
    Stock-Based Compensation     1,209,000       —  
    Depreciation     22,205       40,959  
    Amortization of lease right-of-use assets     114,791       110,229  
    Inventory provision     4,328       2,203  
    Deferred tax benefits     —       (216,713 )
    Changes in operating assets and liabilities:                
    Accounts receivable, net     (1,649,559 )     (725,166 )
    Prepaid expenses and other current assets, net     (261,232 )     (3,233,957 )
    Inventories, net     26,328       539,517  
    Accounts payable     (300,654 )     (320,628 )
    Contract liabilities     (325,142 )     25,350  
    Accrued expenses and other current liabilities     66,600       (5,188 )
    Amounts due from related parties     341,426       —  
    Amounts due to related parties     (314,238 )     (16,189 )
    Tax payable     (166,753 )     928,135  
    Operating lease liabilities     (134,909 )     (103,326 )
    Net cash used in operating activities     (1,738,971 )     (3,811,127 )
                     
    Cash flow from investing activities                
    Repayments of loan to a related party     (99,876 )     —  
    Loan to third party     (8,640,000 )     —  
    Net cash used in investing activities     (8,739,876 )     —  
                     
    Cash flow from financing activities                
    Proceeds from issuance of Class A ordinary shares upon the completion of IPO     —       5,356,792  
    Proceeds from Issuance of convertible notes     9,002,368       —  
    Proceeds from short-term debts     —       132,258  
    Repayments of short-term debts     (32,810 )     (33,726 )
    Repayments of long-term debts     (124,959 )     (179,420 )
    Repayments of other long-term debts     (108,037 )     (878,962 )
    Payments of listing expenses     —       (150,606 )
    Net cash provided by financing activities     8,736,562       4,246,336  
    Effect of exchange rate changes     69,634       (58,969 )
    Net change in cash and cash equivalents     (1,672,651 )     376,240  
    Cash and cash equivalents, beginning of the period     2,000,732       1,107,480  
    Cash and cash equivalents, end of the period     328,081       1,483,720  
                     
    Supplemental disclosures of cash flow information:                
    Income tax paid     —       150,124  
    Interest expense paid     33,056       65,901  
                     
    Supplemental disclosures of non-cash activities:                
    Obtaining right-of-use assets in exchange for operating lease liabilities     155,160       147,083  

    The MIL Network –

  • MIL-OSI: Linkage Global Inc Announces First Half 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TOKYO, July 03, 2025 (GLOBE NEWSWIRE) — Linkage Global Inc (“Linkage Cayman”, or the “Company”), a cross-border e-commerce integrated services provider headquartered in Japan, today announced its unaudited financial results for the six months ended March 31, 2025.

    First Half 2025 Selected Financial Metrics

    • Total revenues decreased by approximately $1.30 million to approximately $3.50 million for the six months ended March 31, 2025, compared to approximately $4.80 million for the same period of 2024.
    • Gross profit increased by approximately $1.99 million to $2.70 million for the six months ended March 31, 2025, from approximately $0.71 million for the same period of 2024. Cross-border sales margin improved from 12.70% to 21.31%, while integrated e-commerce services margin rose from 50.67% to 93.56% during the same period.
    • Net loss increased from approximately $1.41 million for the six months ended March 31, 2024 to approximately $3.09 million for the six months ended March 31, 2025.

    First Half 2025 Financial Results

    Revenues

    Total revenues declined by approximately $1.30 million, or 27.02%, from approximately $4.80 million for the six months ended March 31, 2024, to approximately $3.50 million for the same period of 2025, mainly due to a sharp drop in cross-border sales.

    Revenues from cross-border sales fell by approximately $3.74 million, or 82.35%, from approximately $4.54 million for the six months ended March 31, 2024 to approximately $0.80 million for the six months ended March 31, 2025. EXTEND, our Japanese subsidiary, contributed $0.43 million or 12.32% of total revenue, down 87.66% year-over-year. This decline was driven by poor market response to its 3C electronics product strategy. In response, the Company shifted focus to higher-margin, fully managed e-commerce services and reallocated staff accordingly. The cross-border business is now being restructured, with new product selections and the Company plans to explore TikTok store and livestream sales in Japan.

    Revenues from Integrated e-commerce services surged by $2.44 million, or 930.08%, from approximately $0.26 million to $2.70 million for the six months ended March 31, 2025, largely due to the launch of fully managed e-commerce operations in 2025. This new model, contributing $2.59 million in revenue and $2.46 million in gross profit, involves end-to-end store management for merchants, with fees based on gross merchandize volume (GMV).

    Revenues from digital marketing dropped from approximately $0.13 million for the six months ended March 31, 2024 to approximately $0.08 million for the six months ended March 31, 2025, after ending the Google partnership in January 2025 and beginning deregistration in April. Revenues from training and consulting, TikTok agent services declined by $0.10 million, or 75.25%, from $0.13 million to $0.03 million.

    Cost of Revenues

    Cost of revenues fell 80.34%, from approximately $4.09 million for the six months ended March 31, 2024, to approximately $0.80 million for the same period in 2025. This was mainly due to a sharp drop in cross-border sales costs, which declined $3.33 million, or 84.09%, from $3.96 million to $0.63 million, reflecting reduced procurement in line with lower sales. In contrast, costs for integrated e-commerce services rose $0.04 million, or 34.55%, from $0.13 million to $0.17 million. Of this, $0.13 million was related to the new fully managed e-commerce business, primarily covering staff salaries. Commission costs declined due to the termination of related services.

    Gross Profit        

    Gross profit increased by approximately $1.99 million, or 280.57%, from approximately $0.71 million to approximately $2.70 million, mainly driven by the new fully managed e-commerce business, which contributed $2.46 million in profit with a 95.12% margin. The high margin was due to low operating costs, mostly staff salaries, with no enterprise resource planning development expenses in the current period as they were previously recognized. Cross-border sales margin improved from 12.70% to 21.31% due to a shift toward higher-margin products. Integrated e-commerce services margin rose from 50.67% to 93.56%, also driven by the new business model.

    Operating Expenses

    Operating expenses rose by 91.01%, from approximately $2.27 million to approximately $4.34 million, mainly due to higher general and administrative expenses, which increased 123.94%, from $1.74 million to $3.90 million for the six months ended March 31, 2025, which was primarily attributable to the allowance for credit loss, stock-based compensation and post-IPO financial and legal consulting fees.

    Selling and marketing expenses dropped 31.15%, from approximately $0.23 million to approximately $0.16 million, due to lower freight and advertising costs, as well as lower marketing and promotion expenses.

    Research and development expenses declined 7.87%, from approximately $0.30 million to approximately $0.27 million, as ERP development staff shifted to operational roles and their salaries were reclassified under business costs.

    Other Expenses

    Other expenses mainly include non-operating income and interest expenses, net. Non-operating income rose from $998 to approximately $0.39 million. Net interest expenses increased significantly from approximately $0.06 million to approximately $1.50 million, mainly due to the issuance of $10 million in convertible bonds in October 2024, with an actual interest rate of 42.52%, generating $1.56 million in interest expenses during the reporting period.

    Income Tax (Provision)/Benefit

    Income tax (provision) /benefit decreased by approximately $0.56 million, from approximately $0.02 million of tax benefit for the six months ended March 31, 2024 to approximately $0.34 million of tax expenses for the six months ended March 31, 2025. This decrease was primarily attributable to net profit for the fully managed e-commerce operation services with a tax rate of 16.5%.

    Net Loss

    As a result, net loss increased by approximately $1.68 million, or 119.62%, from approximately $1.41 million to approximately $3.09 million.

    About Linkage Global Inc

    Linkage Global Inc is a holding company incorporated in the Cayman Islands with no operations of its own. Linkage Cayman conducts its operations through its operating subsidiaries in Japan, Hong Kong, and mainland China. As a cross-border e-commerce integrated services provider headquartered in Japan, through its operating subsidiaries, the Company has developed a comprehensive service system comprised of two lines of business complementary to each other, including (i) cross-border sales and (ii) integrated e-commerce services. For more information, please visit www.linkagecc.com.

    Safe Harbor Statement

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s annual reports on Form 20-F and other filings with the U.S. Securities and Exchange Commission.

    For more information, please contact:

    Investor Relations

    WFS Investor Relations Inc.

    Connie Kang, Partner

    Email: ckang@wealthfsllc.com

    Tel: +86 1381 185 7742

       
    Linkage Global Inc
    UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
    AS OF MARCH 31, 2025 AND SEPTEMBER 30, 2024
    (In U.S. dollars, except for share and per share data, or otherwise noted)    		  
       
        As of
    March 31,
    2025    		     As of
    September 30,
    2024    		  
        USD  
    ASSETS            
    Current assets            
    Cash and cash equivalents     328,081       2,000,732  
    Accounts receivable, net     6,405,486       6,302,696  
    Inventories, net     35,675       66,331  
    Deposits paid to media platforms     —       482,650  
    Prepaid expenses and other current assets, net     1,625,517       2,689,581  
    Amount due from related parties     1,243,450       —  
    Short-term loan to third party     8,993,306       410,000  
    Interest receivable from loan to third party     386,261       —  
    Total current assets     19,017,776       11,951,990  
                     
    Non-current assets                
    Property and equipment, net     50,594       85,807  
    Right-of-use assets, net     516,167       653,730  
    Total non-current assets     566,761       739,537  
    TOTAL ASSETS     19,584,537       12,691,527  
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
    Current liabilities                
    Accounts payable     324,069       624,723  
    Accrued expenses and other current liabilities     303,413       236,813  
    Short-term debts     —       32,810  
    Current portion of long-term debts     243,557       428,702  
    Contract liabilities     208,483       533,625  
    Amounts due to related parties     —       314,544  
    Lease liabilities – current     203,600       231,978  
    Convertible notes     7,884,325       964,865  
    Interest payable of convertible notes     1,555,689       —  
    Income tax payable     850,866       1,017,619  
    Total current liabilities     11,574,002       4,385,679  
                     
    Non-current liabilities                
    Long-term debts     734,023       839,560  
    Lease liabilities – non-current     334,973       441,504  
    Total non-current liabilities     1,068,996       1,281,064  
    Total liabilities     12,642,998       5,666,743  
                     
    Commitments and contingencies (Note 21)                
                     
    Shareholders’ equity                
    Class A ordinary shares (par value of US$0.0025 per share; 998,000,000 ordinary shares authorized, 3,080,000 and 2,150,000 ordinary shares issued and outstanding as of March 31, 2025 and September 30, 2024, respectively) *     7,700       5,375  
    Class B ordinary shares (par value of US$0.0025 per share; 2,000,000 ordinary shares authorized, 700,000 and nil ordinary shares issued and outstanding as of March 31, 2025 and September 30, 2024, respectively) *     1,750       —  
    Additional paid in capital     8,564,021       5,591,596  
    Treasury Shares     (500 )     —  
    Statutory reserve     11,348       11,348  
    Retained earnings     (1,474,142 )     1,613,217  
    Accumulated other comprehensive loss     (168,638 )     (196,752 )
    Total shareholders’ equity     6,941,539       7,024,784  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY     19,584,537       12,691,527  
       
    Linkage Global Inc
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
    FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024
    (In U.S. dollars, except for share and per share data, or otherwise noted)    		  
       
        For the six months ended
    March 31,    		  
        2025     2024  
        USD  
    Revenues     3,501,947       4,798,363  
    Cost of revenues     (804,142 )     (4,089,486 )
    Gross profit     2,697,805       708,877  
                     
    Operating expenses                
    General and administrative expenses     (3,904,027 )     (1,743,309 )
    Selling and marketing expenses     (157,637 )     (228,956 )
    Research and development expenses     (274,371 )     (297,811 )
    Total operating expenses     (4,336,035 )     (2,270,076 )
    Operating loss     (1,638,230 )     (1,561,199 )
                     
    Other expenses                
    Interest expenses, net     (1,496,504 )     (60,726 )
    Other non-operating income     387,816       998  
    Total other expenses     (1,108,688 )     (59,728 )
                     
    Loss before income taxes     (2,746,918 )     (1,620,927 )
    Income tax (provision)/ benefit     (340,441 )     215,161  
    Net loss     (3,087,359 )     (1,405,766 )
    Net loss attributable to the Company’s ordinary shareholders     (3,087,359 )     —  
    Other comprehensive income/(loss)                
    Foreign currency translation adjustment     28,114       (10,107 )
    Total comprehensive loss attributable to the Company’s ordinary shareholders     (3,059,245 )     (1,415,873 )
                     
    Loss per ordinary share attributable to ordinary shareholders                
    Basic and Diluted*     (0.90 )     (0.67 )
    Weighted average number of ordinary shares outstanding                
    Basic and Diluted*     3,415,533       2,084,890  
       
    Linkage Global Inc
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024
    (In U.S. dollars, except for share and per share data, or otherwise noted)    		  
       
        For the six months ended
    March 31,    		  
        2025     2024  
        USD  
    CASH FLOWS FROM OPERATING ACTIVITIES:            
    Net loss     (3,087,359 )     (1,405,766 )
                     
    Adjustments to reconcile net loss to net cash used in operating activities:                
    Effect of exchange rate changes     202,551       1,184  
    Allowance for credit loss     1,344,218       568,229  
    Interest payable of convertible notes     1,555,689       —  
    Interest receivable from loan to third party     (386,261 )     —  
    Stock-Based Compensation     1,209,000       —  
    Depreciation     22,205       40,959  
    Amortization of lease right-of-use assets     114,791       110,229  
    Inventory provision     4,328       2,203  
    Deferred tax benefits     —       (216,713 )
    Changes in operating assets and liabilities:                
    Accounts receivable, net     (1,649,559 )     (725,166 )
    Prepaid expenses and other current assets, net     (261,232 )     (3,233,957 )
    Inventories, net     26,328       539,517  
    Accounts payable     (300,654 )     (320,628 )
    Contract liabilities     (325,142 )     25,350  
    Accrued expenses and other current liabilities     66,600       (5,188 )
    Amounts due from related parties     341,426       —  
    Amounts due to related parties     (314,238 )     (16,189 )
    Tax payable     (166,753 )     928,135  
    Operating lease liabilities     (134,909 )     (103,326 )
    Net cash used in operating activities     (1,738,971 )     (3,811,127 )
                     
    Cash flow from investing activities                
    Repayments of loan to a related party     (99,876 )     —  
    Loan to third party     (8,640,000 )     —  
    Net cash used in investing activities     (8,739,876 )     —  
                     
    Cash flow from financing activities                
    Proceeds from issuance of Class A ordinary shares upon the completion of IPO     —       5,356,792  
    Proceeds from Issuance of convertible notes     9,002,368       —  
    Proceeds from short-term debts     —       132,258  
    Repayments of short-term debts     (32,810 )     (33,726 )
    Repayments of long-term debts     (124,959 )     (179,420 )
    Repayments of other long-term debts     (108,037 )     (878,962 )
    Payments of listing expenses     —       (150,606 )
    Net cash provided by financing activities     8,736,562       4,246,336  
    Effect of exchange rate changes     69,634       (58,969 )
    Net change in cash and cash equivalents     (1,672,651 )     376,240  
    Cash and cash equivalents, beginning of the period     2,000,732       1,107,480  
    Cash and cash equivalents, end of the period     328,081       1,483,720  
                     
    Supplemental disclosures of cash flow information:                
    Income tax paid     —       150,124  
    Interest expense paid     33,056       65,901  
                     
    Supplemental disclosures of non-cash activities:                
    Obtaining right-of-use assets in exchange for operating lease liabilities     155,160       147,083  

    The MIL Network –

  • MIL-OSI NGOs: Landmark decision on the human right to a healthy climate delivered by the highest court in the Americas

    Source: Greenpeace Statement –

    Amsterdam, Netherlands – The Inter-American Court of Human Rights just delivered a landmark decision on the obligations of States in the face of the climate emergency.[1] The Court established that governments must take “urgent and effective actions” to safeguard the right to a healthy climate, and that companies have obligations with regard to climate change and its impacts on human rights. This decision unequivocally puts the rights of people and nature above the interests of polluters.

    In an unprecedented move, the Court also recognised the right to nature and ecosystems to maintain their essential ecological processes, as a crucial part in the effort to address the triple planetary crisis [2] and to achieve a truly sustainable development model that respects planetary boundaries and guarantees the rights of present and future generations. 

    Pablo Ramírez, Climate Campaigner, Greenpeace Mexico, said: “This is a life-changing decision for thousands of communities that are impacted by climate change on our continent. The highest court in the Americas is providing us with a pathway to climate justice, obliging States to guarantee human rights, address climate impacts and force polluting industries to repair the damage they have caused.”

    The Court’s decision puts powerful legal tools to secure climate accountability and justice in the hands of more than 300 million people in 20 states that are party to the American Convention on Human Rights, including Indigenous Peoples, civil society organisations and individuals. 

    The advisory opinion was requested in January 2023 by the governments of Chile and Colombia. [3] It was followed by the most participatory process in the history of the Court, with 150 oral interventions from States, international organisations, Indigenous Peoples, and civil society, as well as 265 written submissions, including from Greenpeace International.

    Latin America and the Caribbean are highly affected by air pollution,[4] rising sea levels and extreme weather events,[5] fuelled by emissions from oil and gas corporations and other polluting industries.[6] 

    The Court’s decision is grounded in clear scientific evidence that attributes large emissions from corporations to impacts such as loss of life and livelihoods from climate disasters. This Court decision will directly assist individuals and communities in pushing back against corporate polluters and corporate violations of human rights.

    Maria Alejandra Serra, Legal Counsel, Greenpeace International, said: “For too long, politicians and corporations have gotten away with profiting from the destruction of our environment and from harming the lives of ordinary people. This decision marks the beginning of the era of corporate accountability and a big step towards dismantling the colonial legacy of systemic impunity in our region.”

    The decision builds on the growing global momentum in courts tasked with interpreting international law facing the climate crisis.[7] It is expected to be used by governments to present more ambitious climate action plans and shape future decisions by other international human rights courts, setting the stage for a forthcoming historic advisory opinion from the International Court of Justice – the world’s highest court – on the responsibilities of States to mitigate climate impacts. 

    ENDS 

    Notes:

    Photos and videos of Greenpeace International and its allies in the process at the Inter-American Court of Human Rights on the Greenpeace Media Library. 

    [1] The Inter-American Court of Human Rights, one of three regional human rights courts in the world, has the role to interpret and clarify the obligations of States. Its decisions inform national governments and courts. Read the full decision in Spanish here.

    [2] As established by the United Nations, “[t]he triple planetary crisis refers to the interconnected challenges of climate change, pollution, and biodiversity loss”. See here 

    [3] Read the Advisory Opinion Request here. 

    [4] A review on the impact of climate change and air pollution in the region, particularly in the Caribbean, is detailed in a Columbia University publication authored by Muge Akpinar-Elci and Olaniyi Olayinka.

    [5] As recently as 2024, the Americas region faced devastating effects from multiple extreme weather events, which continued to impact lives, livelihoods, and food supply chains long after the events had passed, according to a publication by the World Meteorological Organization. 

    [6] Written observation on the request for an advisory opinion on the climate emergency and human rights by Greenpeace International, the Center for International Environmental Law, the NYU Climate Law Accelerator, the Union of Concerned Scientists, and the Open Society Justice Initiative.

    [7] Some examples are the recent decisions from the International Tribunal for the Law of the Sea, which classified greenhouse gas emissions as marine pollution, and the ruling of the European Court of Human Rights against Switzerland, a State failing to set adequate climate targets.

    Contacts:

    Tal Harris, Greenpeace International, Global Media Lead – Stop Drilling Start Paying campaign, +41-782530550, [email protected]

    Greenpeace International Press Desk, +31 (0) 20 718 2470 (available 24 hours), [email protected]Follow @greenpeacepress on X/Twitter for our latest international press release

    Follow @greenpeacepress on X/Twitter for our latest international press release

    MIL OSI NGO –

  • MIL-OSI USA: Grothman Celebrates Historical Wins in the One Big Beautiful Bill

    Source: United States House of Representatives – Congressman Glenn Grothman (R-Glenbeulah 6th District Wisconsin)

    Congressman Glenn Grothman (WI-06) celebrated major victories today following the House passage of the One Big Beautiful Bill Act, a landmark reconciliation bill that advances President Trump’s America First agenda, delivers crucial tax relief, and reins in waste, fraud, and abuse across the federal government. 

    The legislation protects Americans from devastating tax increases by making President Trump’s 2017 tax cuts permanent. Without action, families in Wisconsin’s Sixth District were facing an average $1,486 tax hike. By locking in the cuts, this bill protects the paychecks of hardworking Americans and ensures they keep more of their hard-earned money. It also eliminates taxes on tips and overtime pay, delivers additional tax relief for seniors, and strengthens the economy for middle-class families. 

    In addition to economic relief, the bill strengthens national security by fully funding President Trump’s border wall system and increasing immigration enforcement. It restores commonsense work requirements for able-bodied adults receiving taxpayer-funded benefits, ensuring safety-net programs like Medicaid are preserved for those who truly need them. 

    The bill includes Congressman Grothman’s FEHB Protection Act, which imposes new verification measures and audits on the Federal Employees Health Benefits program to remove ineligible beneficiaries, a reform projected to save taxpayers more than $2 billion.  

    It also includes parts of Grothman’s CREATE JOBS Act, including extending the bonus depreciation provisions from the Tax Cuts and Jobs Act, preserving full expensing for research and development investments, and applying neutral cost recovery to manufacturing commercial structures through 2029. These provisions will fuel job creation, support American manufacturing, and foster economic innovation.  

    “The passage of the One Big Beautiful Bill is a historic victory for Americans, as we’ve avoided the largest tax hike in our nation’s history,” said Grothman. “The American people gave us a mandate after four years of failure under President Biden to revive prosperity in our country. I’m proud to stand with Congressional Republicans and President Trump to deliver a bill that works in the best interests of Americans. The One Big Beautiful Bill strengthens our government programs for the people they were intended to serve, while rooting out the waste, fraud, and abuse that have plagued our systems for far too long. Hardworking Americans will see the benefits of our commonsense conservative policies. I was proud to vote yes to help move America toward further greatness.” 

    U.S. Rep. Glenn Grothman (R-Glenbeulah) proudly serves the people of Wisconsin’s 6th Congressional District in the U.S. House of Representatives 

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Rep. Castor Statement on Republicans’ Big Ugly Bill That Will Inflict Outsized Harm & Raise Costs on Floridians

    Source: United States House of Representatives – Reprepsentative Kathy Castor (FL14)

    WASHINGTON, D.C. – Today, U.S. Rep. Kathy Castor (FL-14) blasted the House Republican “Big Ugly Bill” that will rip health care coverage, food and Pell grants away from tens of millions of Americans, including children, seniors, Veterans and people with disabilities – all to give massive tax breaks to the wealthiest Americans and corporations. The Big Ugly Bill is fiscally irresponsible and morally wrong, as it will also add trillions of dollars to the national debt, leading to higher interest rates and inflation. The Big Ugly Bill is the deepest rollback in health care coverage in history – wiping away gains made over the past decade to cover families under Medicaid, Medicare, and the Affordable Care Act (ACA). It’s an abominable transfer of wealth from the working class to the wealthy that will weaken America and hurt millions of families.

    As American families struggle with the high cost of living, President Trump and Congressional Republicans are looting the Treasury and leaving families in the lurch with higher health care premiums, food costs and electric bills.

    “The billionaire tax giveaway will hit Floridians harder than any other state, as 3.9 million rely on Medicaid and over 4.7 million rely on Affordable Care Act (ACA) coverage. The GOP bill takes health care away from children, seniors, pregnant and postpartum women, and people with disabilities to fund a massive tax break for billionaires and big corporations. The Big Ugly, no-good, horrible bill will result in an estimated 1.9 million Floridians losing their health care altogether, and soaring premiums for many more. President Trump and Congressional Republicans stick it to working-class Floridians while their wealthiest donors can buy more vacation homes, private jets and luxury vacations. The bill is chock full of special interest side deals and carve-outs – including giveaways for Big Oil and Gas, sweetheart deals for gun manufacturers and their lobbyists, all while cutting Pell Grants and student loans for millions of students,” said Rep. Castor. 

    “Medicaid, the ACA and SNAP are a lifeline for my neighbors in Florida. Slashing essential care and nutrition assistance means more Floridians will struggle to afford doctor visits, medications, long-term care and critical treatments, or to keep food on the table – essentials needed to stay healthy, keep their heads above water and our country strong.”

    Trump and Republicans in Congress did not deviate from the political payback to the oil and gas industry as the Big Ugly Bill slashes initiatives that are lowering costs for American families, including cost-saving clean energy investments from the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA). 

    “It’s the worst bill I’ve seen in my years in Congress as Tampa Bay’s Congresswoman. Families and hardworking Americans will be left to deal with the harsh economic fallout. I will be there for them and will do everything in my power to repair the damage and fight for an economy that works for everyone, not just the privileged few.”

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Rep. Castor Statement on Republicans’ Big Ugly Bill That Will Inflict Outsized Harm & Raise Costs on Floridians

    Source: United States House of Representatives – Reprepsentative Kathy Castor (FL14)

    WASHINGTON, D.C. – Today, U.S. Rep. Kathy Castor (FL-14) blasted the House Republican “Big Ugly Bill” that will rip health care coverage, food and Pell grants away from tens of millions of Americans, including children, seniors, Veterans and people with disabilities – all to give massive tax breaks to the wealthiest Americans and corporations. The Big Ugly Bill is fiscally irresponsible and morally wrong, as it will also add trillions of dollars to the national debt, leading to higher interest rates and inflation. The Big Ugly Bill is the deepest rollback in health care coverage in history – wiping away gains made over the past decade to cover families under Medicaid, Medicare, and the Affordable Care Act (ACA). It’s an abominable transfer of wealth from the working class to the wealthy that will weaken America and hurt millions of families.

    As American families struggle with the high cost of living, President Trump and Congressional Republicans are looting the Treasury and leaving families in the lurch with higher health care premiums, food costs and electric bills.

    “The billionaire tax giveaway will hit Floridians harder than any other state, as 3.9 million rely on Medicaid and over 4.7 million rely on Affordable Care Act (ACA) coverage. The GOP bill takes health care away from children, seniors, pregnant and postpartum women, and people with disabilities to fund a massive tax break for billionaires and big corporations. The Big Ugly, no-good, horrible bill will result in an estimated 1.9 million Floridians losing their health care altogether, and soaring premiums for many more. President Trump and Congressional Republicans stick it to working-class Floridians while their wealthiest donors can buy more vacation homes, private jets and luxury vacations. The bill is chock full of special interest side deals and carve-outs – including giveaways for Big Oil and Gas, sweetheart deals for gun manufacturers and their lobbyists, all while cutting Pell Grants and student loans for millions of students,” said Rep. Castor. 

    “Medicaid, the ACA and SNAP are a lifeline for my neighbors in Florida. Slashing essential care and nutrition assistance means more Floridians will struggle to afford doctor visits, medications, long-term care and critical treatments, or to keep food on the table – essentials needed to stay healthy, keep their heads above water and our country strong.”

    Trump and Republicans in Congress did not deviate from the political payback to the oil and gas industry as the Big Ugly Bill slashes initiatives that are lowering costs for American families, including cost-saving clean energy investments from the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA). 

    “It’s the worst bill I’ve seen in my years in Congress as Tampa Bay’s Congresswoman. Families and hardworking Americans will be left to deal with the harsh economic fallout. I will be there for them and will do everything in my power to repair the damage and fight for an economy that works for everyone, not just the privileged few.”

    MIL OSI USA News –

  • MIL-OSI USA: Q&A: Medicaid Reforms Strengthen Safety Net

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    Q: Why did Congress seek fiscal integrity changes to the Medicaid program?
    A: Six decades ago, Congress added Title XIX to the Social Security Act that created a health care safety net for low-income individuals and families, with primary emphasis on dependent children and their moms, individuals with disabilities and low-income seniors. Since 1965, state governments administer the public health insurance program with cost-sharing from the federal government. Over the years, eligibility expansions and loopholes accelerated expenditures that placed a greater burden on the federal budget. The federal share of Medicaid spending has increased from 60 percent in 1991 to about 74 percent in 2023. Throughout my service on the Senate Finance Committee, which has legislative and oversight jurisdiction of the Medicaid program, I’ve led bipartisan efforts to ensure the most vulnerable populations are served, particularly child and maternal care  — including families with children with complex medical conditions — as well as foster and adopted youth. I’ve also supported efforts to strengthen fiscal accountability measures in this federal safety net, such as the passage of my bipartisan Right Rebate Act. Without robust fiscal integrity, the strings of this safety net would unravel at the seams and put an unsustainable and unfair burden on the taxpayer. Just consider, between 2015 and 2024, the amount of improper federal Medicaid payments reached $560 billion. Some estimates suggest that figure exceeds $1 trillion. Americans deserve better fiscal stewardship over their tax dollars and the program’s intended and most vulnerable recipients deserve to know this safety net is strong enough to meet their health care needs. Every dollar lost to waste and mismanagement is one less health care dollar for nursing home residents, low-income moms and foster youth.
    Q:  How does the Senate-passed budget bill strengthen the Medicaid program?
    A:  With fiscal responsibility top of mind, the Senate bill includes integrity measures to help ensure Medicaid continues to serve vulnerable Americans in our local communities. Specifically, common sense measures are designed to reduce duplicate enrollment; ensure deceased individuals and health care providers don’t remain enrolled; reduce payments for erroneous excess provider payments; and require states to check twice yearly if an individual is eligible to be on Medicaid, instead of screening once a year. In addition, stronger oversight will save billions by establishing robust verification for individuals receiving premium tax credits through the federal marketplace created by the Affordable Care Act. If a recipient gets more subsidies than allowed, that excessive subsidy must be returned. Through my oversight of taxpayer dollars, I advised the U.S. Treasury Inspector General last year that excessive payments weren’t being recouped to the federal treasury. I discovered more than 40 percent of excessive federal marketplace subsidy payments ran to the tune of more than $10 billion going back a decade. Clawing back these payments will save tens of billions of dollars.
    Also, the bill establishes a $50 billion Rural Health Transformation Program to ensure hospitals, nursing homes, community health care centers and other rural providers can continue serving their communities and improve care. The Rural Health Transformation Program will improve access to care and health outcomes. It also establishes Medicaid work requirements for able-bodied adults age 64 or under, with reasonable exemptions for individuals with disabilities, seniors, pregnant women, children, caregivers and others. Able-bodied adults will have to complete a minimum of 80 hours of work a month by working, job training, going to school or volunteering. In addition, the bill allows states to offer home and community-based services (HCBS) to a broader range of individuals, such as those with developmental disabilities, while ensuring it doesn’t negatively impact those already eligible, and it enables interim HCBS coverage while newly eligible individuals develop their full care plan.
    The Senate also prioritizes Medicaid for Americans, not people who broke our laws to enter the country illegally. Our bill ends federal financial support under Medicaid for those who don’t have verified citizenship, nationality or legal immigration status. These program integrity provisions for Medicaid and other health care programs will save over $500 billion, according to a non-partisan Congressional Budget Office (CBO) estimate. Despite orchestrated efforts to mischaracterize our program integrity measures with fearmongering and misinformation, the Senate took a big step to save Medicaid for people the program is intended to serve.

    MIL OSI USA News –

  • MIL-OSI USA: Congressman Jonathan L. Jackson: “The Big Beautiful Bill is a Big Brutal Lie”

    Source: United States House of Representatives – Representative Jonathan Jackson – Illinois (1st District)

    FOR IMMEDIATE RELEASE

    CHICAGO, IL — Congressman Jonathan L. Jackson (IL-01) issued a forceful response today to the passage of what Republicans have labeled the “Big Beautiful Bill,” calling it what it truly is: a big brutal lie. The legislation, passed after weeks of political hostage-taking, delivers sweeping cuts to essential programs like Medicaid and SNAP while handing out massive tax breaks to the ultra-wealthy. 

    “This is not a beautiful bill. It is a brutal betrayal of working families, seniors, and children,” said Congressman Jackson. “The MAGA Republican majority held this country hostage longer than any previous Congress, all to force through a backroom deal that punishes the poor and rewards the powerful.” 

    At the height of the debate, Democratic Leader Hakeem Jeffries delivered a historic and deeply moving speech on the House floor. Congressman Jackson praised Jeffries for his clarity and conviction. 

    “Leader Jeffries gave voice to millions of Americans who are struggling to get by. His speech was not just a defense of programs like SNAP and Medicaid, it was a defense of human dignity. I thank him for his leadership in the face of cruelty.” 

    Congressman Jackson also commended the Congressional Black Caucus (CBC), which fought to amend the bill to protect the most vulnerable. Although their amendments were ultimately blocked by the majority, the CBC stood firm in defense of justice, equity, and compassion. 

    “The CBC worked around the clock to demand changes that would protect our communities,” Jackson said. “They fought to make this bill less harmful. We may have lost this vote, but we will not lose the fight.” 

    The consequences of this bill will hit home for families across Illinois and especially in Chicago: 

    • In the First Congressional District alone, more than 245,000 households risk losing SNAP benefits due to new eligibility restrictions and work requirements. 

    • Chicago could lose more than $380 million in federal support for housing, education, and public health over the next year. 

    “These numbers are not just data points. They are single mothers. They are elderly neighbors. They are children who will go to school hungry,” said Jackson. “This bill turns its back on the people who need help the most.” 

    Congressman Jackson is urging voters not to lose hope. Instead, he is calling on them to get organized and stay focused on the 2026 midterm elections. 

    “To the people of Chicago and across this nation, this is not the end. It is the beginning of the next phase of our fight,” he said. “We must elect leaders who are committed to compassion, fairness, and progress. We must take back the House and ensure that legislation like this never sees the light of day again.” 

    He closed with the words of the late Senator Edward Kennedy, a reminder that even in dark times, the fight for justice continues: 

    “The work goes on, the cause endures, the hope still lives, and the dream shall never die.” 

    “That dream belongs to every child in our district, every parent struggling to make ends meet, every elder who deserves to age with dignity,” Jackson said. “We will not stop until that dream is fully realized.” 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Mann Votes to Send One Big Beautiful Bill to President Trump’s Desk

    Source: United States House of Representatives – Representative Tracey Mann (Kansas, 1)

    WASHINGTON, D.C. – Today, U.S. Representative Tracey Mann (KS-01) voted to pass H.R. 1, the One Big Beautiful Bill Act, in the U.S. House of Representatives. The bill, which delivers on Congressional Republicans and President Trump’s campaign promises of lowering taxes, securing the border, and unleashing American energy dominance, passed by a vote of 219-213. Rep. Mann released the following statement after the vote:

    “Over the past four years, Kansans expressed grave concerns to me about our nation’s border security, skyrocketing prices, and a federal government that continually burdened their way of life in rural America through excessive regulations,” said Rep. Mann. “On November 5, 2024, the country overwhelmingly agreed with Kansans in the Big First and rejected even more taxes, Green New Deal regulations, and open border policies. Today, our Republican majorities succeeded in our campaign promises to uproot wasteful spending, prevent the average family from seeing a tax increase of $2,200, and deliver the largest tax cut for middle- and working-class families in American history. I am extremely proud of the work we did to give Kansas families, small businesses, and agriculture some much-needed relief and to continue getting our country back on track. When President Trump signs the One Big Beautiful Bill into law, American families will have with more money in their pockets, secure borders, and accountability for the taxpayer dollar in honor of our 249th birthday.”

    The One Big Beautiful Bill Act:

    • Makes the 2017 Trump tax cuts permanent, protecting the average taxpayer from a 22% tax increase in January 2026
    • Eliminates taxes on tips, overtime pay, and car loan interest on American-made cars
    • Provides additional tax relief for seniors
    • Makes permanent the 199A small business deduction, immediate 100% expensing, and R&D immediate amortization
    • Increases detention capacity for Immigration and Customs Enforcement (ICE) and includes funding for ICE resources
    • Makes the largest border security investment in history to build the wall and invests in modern technology to assist with intercepting drugs and human smuggling at U.S. ports of entry
    • Invests $60 billion in strengthening the farm safety net by expanding crop insurance and updating reference prices
    • Makes investments to modernize our military and strengthen national defense
    • Restores American energy dominance and ensures affordable, reliable energy access for families across the country
    • Establishes commonsense work requirements for able-bodied adults without young dependents
    • Ends government benefit eligibility for non-citizens, focusing resources on the most vulnerable
    • Appropriates $12.5 billion to the Federal Aviation Administration for the modernization of air traffic control technology and infrastructure
    • Rescinds unobligated funds and eliminates Biden-era programs estimated to cost over $4 billion

    The One Big Beautiful Bill Act will now go to the White House for President Trump’s signature.

    ###

    MIL OSI USA News –

  • MIL-OSI Russia: IMF Executive Board Completes the Second Reviews Under the Extended Credit Facility and the Resilience and Sustainability Facility Arrangements with the Republic of Madagascar

    Source: IMF – News in Russian

    July 3, 2025

    • The IMF Executive Board completed the Second Reviews under the Extended Credit Facility (ECF) arrangement and the Resilience and Sustainability Facility (RSF) arrangement for the Republic of Madagascar, allowing for an immediate disbursement of SDR 77.392 million (about US$107 million).
    • Madagascar’s performance under the ECF and RSF has been satisfactory. The recent adoption of a recovery plan for the public utilities company (JIRAMA) and the continued implementation of the automatic fuel price adjustment mechanism will release space for critical development needs while helping improve energy supply.
    • Recent weather-related events, reduction in official development assistance (ODA) and the U.S tariff hike risk setting Madagascar back; they constitute a wakeup call.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed today the Second Reviews under the 36-month Extended Credit Facility (ECF) arrangement and under the 36-month Resilience and Sustainability Facility (RSF) arrangement. The ECF and RSF arrangements were approved by the IMF Executive Board in June 2024 (see PR24/232). The authorities have consented to the publication of the Staff Report prepared for this review.[1]

    The completion of the reviews allows for the immediate disbursement of SDR 36.66 million (about US$50 million) under the ECF arrangement and of SDR 40.732 million (about US$56 million) under the RSF arrangement.

    Madagascar has been hit by a myriad of shocks this year, including weather-related events and the dual external shock of ODA reduction (by about 1 percent of GDP) and U.S. tariff hike (47 percent initially). These developments would take a toll on growth, considering the country’s high dependence on external financial support and the exposure of its vanilla sector and textile industry to the U.S. market. Growth in 2025 would be lower-than-previously expected at 4 percent.

    The current account deficit widened to 5.4 percent of GDP in 2024, due to continued weak performance in some mining subsectors; it is expected to widen further (to 6.1 percent of GDP) this year, amidst challenging prospects in the textile industry and the vanilla sector.

    Program performance has been satisfactory, with all end-December 2024 quantitative performance criteria and three out of four indicative targets having been met. M3 growth was within the bands of the Monetary Policy Consultation Clause. All but one structural benchmark for the review period were also met. On the RSF front, a new forest carbon framework that promotes private sector participation in the reforestation was adopted and the National Contingency Fund for disaster risk management was operationalized.

    At the conclusion of the Executive Board discussion, Mr. Nigel Clarke, Deputy Managing Director, and Acting Chair, made the following statement:

    “Performance improved gradually over the first half year of the program, following delays related to mayoral elections; all but one of the end-December 2024 quantitative targets were met, and notable progress was achieved in the structural reform agenda. Recent weather-related and external shocks call for spending reprioritization, deliberate contingency planning in budget execution, and letting the exchange rate act as a shock absorber.

    “The recent adoption of a recovery plan for the public utilities company (JIRAMA) is a step in the right direction. Its swift implementation will help address pervasive disruptions in the provision of electricity to households and businesses, while limiting calls on the State budget. The continued implementation of the automatic fuel pricing mechanism will also help contain fiscal risks with targeted measures to support the most vulnerable.

    “Pressing ahead with domestic revenue mobilization efforts and enhancing public financial management and the public investment process remain key to fiscal sustainability. Early preparations for the 2026 budget will allow for stronger buy-in from domestic stakeholders; the budget should be anchored in a well-articulated medium-term fiscal strategy that accounts for the implementation of JIRAMA’s recovery plan and creates space for critical development spending.

    “While inflation has receded slightly from its January peak, the central bank (BFM) should not loosen monetary policy until inflation is on a firm downward path. Further improvements in liquidity management, forecasting and communication will strengthen the implementation of the BFM’s interest-based monetary policy framework. Maintaining a flexible exchange rate will help absorb external shocks.

    “A swift implementation of the authorities’ anti-corruption strategy (2025-2030), together with a homegrown action plan for implementing key recommendations from the IMF Governance Diagnostic Assessment (GDA), will improve transparency and the rule of law, support the authorities fight against corruption and protect the public purse.

    “The authorities’ continued commitment to their reform agenda under the Resilience and Sustainability Facility (RSF) will support climate adaptation in Madagascar and complement the Extended Credit Facility (ECF) in fostering overall socio-economic resilience.”

    Table. Madagascar: Selected Economic Indicators
                 
     

    2022

    2023

    2024

    		  

    2025

    2026
                 
     

    Est.

    		  

    Proj.
     

    (Percent change; unless otherwise indicated)

    National Account and Prices

    		            

    GDP at constant prices

    4.2

    4.2

    4.2

    		  

    4.0

    4.0

    GDP deflator

    9.6

    7.5

    7.6

    		  

    8.3

    7.0

    Consumer prices (end of period)

    10.8

    7.5

    8.6

    		  

    8.3

    7.3
                 

    Money and Credit

    		            

    Broad money (M3)

    13.8

    8.6

    14.6

    		  

    13.7

    8.7
                 
     

    (Growth in percent of beginning-of-period money stock (M3))

    Net foreign assets

    0.8

    18.2

    9.8

    		  

    1.5

    1.4

    Net domestic assets

    13.0

    -9.7

    4.8

    		  

    12.2

    7.4

    of which: Credit to the private sector

    9.8

    0.7

    5.6

    		  

    6.0

    6.2
                 
     

    (Percent of GDP)

    Public Finance

    		            

    Total revenue (excluding grants)

    9.5

    11.5

    11.4

    		  

    11.2

    12.0

    of which: Tax revenue

    9.2

    11.2

    10.9

    		  

    10.7

    11.7

    Grants

    1.3

    2.3

    2.3

    		  

    0.7

    0.4
                 

    Total expenditures

    16.2

    17.9

    16.2

    		  

    15.7

    16.5

    Current expenditure

    10.8

    10.9

    9.6

    		  

    9.7

    9.5

    Capital expenditure

    5.4

    7.0

    6.6

    		  

    6.0

    7.0
                 

    Overall balance (commitment basis)

    -5.5

    -4.2

    -2.6

    		  

    -3.9

    -4.1

    Domestic primary balance1

    -1.8

    -0.3

    1.3

    		  

    0.3

    1.4

    Primary balance

    -4.9

    -3.5

    -1.9

    		  

    -2.9

    -3.0
                 

    Total financing

    4.7

    4.2

    2.7

    		  

    4.3

    4.3

    Foreign borrowing (net)

    2.4

    3.0

    2.6

    		  

    3.5

    3.7

    Domestic financing

    2.2

    1.2

    0.1

    		  

    0.8

    0.5

    Fiscal financing need2

    0.0

    0.0

    0.0

    		  

    0.0

    0.0
                 

    Savings and Investment

    		            

    Investment

    21.8

    19.9

    22.2

    		  

    23.1

    24.2

    Gross national savings

    16.8

    15.9

    16.9

    		  

    17.0

    18.2
                 

    External Sector

    		            

    Exports of goods, f.o.b.

    23.0

    19.5

    14.8

    		  

    13.5

    13.2

    Imports of goods, c.i.f.

    33.8

    28.0

    26.4

    		  

    25.7

    25.5

    Current account balance (exc. grants)

    -6.6

    -6.3

    -8.1

    		  

    -6.8

    -6.4

    Current account balance (inc. grants)

    -5.4

    -4.1

    -5.4

    		  

    -6.1

    -6.0
                 

    Public Debt

    50.0

    52.7

    50.3

    		  

    50.9

    52.2

    External Public Debt (inc. BFM liabilities)

    36.1

    37.8

    36.7

    		  

    38.5

    40.4

    Domestic Public Debt

    13.9

    14.8

    13.6

    		  

    12.4

    11.7
                 
     

    (Units as indicated)

    Gross official reserves (millions of SDRs)

    1,601

    1,972

    2,189

    		  

    2,297

    2,337

    Months of imports of goods and services

    4.2

    5.7

    6.2

    		  

    6.2

    6.0

    GDP per capita (U.S. dollars)

    529

    533

    569

    		  

    596

    621
                 

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

    1 Primary balance excl. foreign-financed investment and grants.

    		      

    2 A negative value indicates a financing gap to be filled by budget support or other financing still to be committed or identified.

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

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    https://www.imf.org/en/News/Articles/2025/07/03/pr-25239-madagascar-imf-completes-2nd-rev-under-ecf-and-rsf-arrang

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