Category: Russia

MIL-OSI Russia: Shortsighted ‘America First’ Policy Will Accelerate US Decline: Chinese Ambassador to Russia Zhang Hanhui

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

Moscow, May 13 /Xinhua/ — The U.S. administration’s short-sighted “America First” policy will not only fail to achieve its stated goal of “making America great again,” but will also lead the country into stagflation and accelerate its decline, Chinese Ambassador to Russia Zhang Hanhui said in an opinion piece published in the Russian newspaper Argumenty i Fakty on Tuesday.

“The US economy has been exposed to stagflation risks for a long time, which has caused serious concern both domestically and in the international community,” the publication says.

As Zhang Hanhui noted, stagflation in the United States is accompanied by high inflation, a deteriorating labor market, a decline in consumer activity, and a reduction in investment. The article emphasizes that the tariff war will further worsen the country’s economic downturn.

A Chinese diplomat likens trade protectionism to a boomerang: the more aggressively it is used, the more negative consequences are felt. “Ultimately, the U.S. tariff policy will cause the greatest damage to the American economy itself,” he points out, adding that abrupt and ill-considered changes in government policy have seriously undermined economic expectations in the country.

All this, according to the author of the article, causes concern and disorientation regarding the prospects of the American economy.

Zhang Hanhui is confident that the “America First” policy will lead the United States to isolation. “Basically, tariffs are used as a tool to test the loyalty of other countries, acting through a system of threats and punishments. However, as practice shows, in the modern world, pressure and coercion do not bring the desired results. Instead, such actions only push other countries to unite in opposition to American hegemony,” the ambassador explains.

At the same time, he assured that China is determined to withstand the tariff war with the United States to the bitter end. According to him, despite the eight-year-long Sino-American trade war, the scale of China’s foreign trade continues to grow, having increased from 30 trillion to 43 trillion yuan. In addition, the number of China’s foreign trade partners is also increasing. Zhang Hanhui cites data according to which in 2024, China’s trade volume with countries participating in the Belt and Road initiative increased by 6.4 percent, and the share of new markets, including ASEAN countries, in China’s foreign trade amounted to almost 60 percent. Meanwhile, the share of China’s exports to the United States decreased from about 19.2 percent in 2018 to 14.7 percent in 2024.

As Zhang Hanhui emphasizes, no matter how unpredictable and reckless the US acts, China will continue to confidently follow its own path, consistently promoting the policy of opening up and supporting the construction of an open world economy.

“History has repeatedly proven that trade protectionism does not contribute to the improvement of one’s own economy, but on the contrary, seriously undermines the world trading system, provokes global economic crises and ultimately harms both others and oneself. Ignoring the lessons of history inevitably leads to negative consequences,” the article says.

The Ambassador confirmed China’s readiness to strengthen solidarity and mutually beneficial cooperation with Russia and with all countries that adhere to the principles of honesty and fairness.

“We will jointly implement multilateralism, promote the improvement of the global governance system, and build a community with a shared future for mankind, so as to make greater contributions to improving the well-being of the peoples of China and Russia, as well as safeguarding world peace and development,” Zhang Hanhui concluded. –0–

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: IMF Reaches Staff-Level Agreement with Cabo Verde on the Sixth Review under the Extended Credit Facility (ECF) and the Third Review under the Resilience and Sustainability Facility (RSF) Arrangement
Source: IMF – News in Russian

May 13, 2025
- IMF staff and Cabo Verdean authorities reached a staff-level agreement on the sixth ECF review and third RSF review, and a fifteen-month extension of both arrangements with an augmentation equivalent to thirty percent of quota under the extended ECF.
- The ECF-supported program aims to strengthen public finances, ensure debt sustainability, minimize fiscal risks from public enterprises, modernize monetary policy, and raise potential growth. The RSF supports government climate reforms and catalyzes private climate finance. Extension to December 2026 supports the continued success of the authorities’ economic policy and reform agenda.
- All end-December 2024 ECF structural benchmarks (SB) and quantitative performance criteria (PCs) were met. The implementation of reform measures (RMs) under the RSF has been progressing, but some reforms will take more time than expected.
Praia, Cabo Verde: An International Monetary Fund (IMF) team led by Mr. Martin Schindler held meetings with the Cabo Verdean authorities during May 5 – 13, 2025, to discuss the sixth review under the Extended Credit Facility (ECF) arrangement, the third review under the Resilience and Sustainability Facility (RSF) arrangement, and economic policies and reforms to be supported under an extension of both arrangements. Access under the existing ECF is 190 percent of quota (SDR 45.03 million, approximately US$ 63.3 million) and access under the RSF is 100 percent of quota (SDR 23.69 million, approximately US$ 31.69 million). The augmentation of 30 percent of quota (SDR 7.11 million) will bring the total ECF arrangement to SDR 52.14 million.

At the conclusion of the mission, Mr. Schindler issued the following statement:

“I am pleased to announce that the IMF team and the Cabo Verdean authorities reached staff-level agreements on the policies needed to complete the sixth review under the ECF-supported program and the third review of the RSF arrangement as well as on economic policies and reforms that could be supported by an extension. Upon approval by the IMF’s Executive Board, completion of the sixth ECF review will allow disbursement of SDR 4.51 million (approximately US$ 6.09 million), while the completion of the third RSF review will allow disbursement of up to SDR 7.896 million (approximately US$ 10.66 million), depending on reform progress under the RSF.

“Cabo Verde’s economy continues to perform well, underpinned by tourism, robust export performance and private consumption growth. Increasing the execution of the government’s capital budget would enhance potential growth. Economic growth in 2024 was strong at 7.3 percent, with 1.0 percent inflation and a current account surplus. The 2024 fiscal balance exceeded program targets, driven by lower primary expenditures and strong tax revenue growth. The public debt-to-GDP ratio continues to decline.

“All end-December 2024 structural benchmarks (SB) and quantitative performance criteria (PCs) were met. The implementation of reform measures (RMs) under the RSF has been progressing, but some reforms will take more time than expected.

“Cabo Verde’s economic outlook remains solid. GDP growth in 2025 is projected at 5.2 percent, while inflation is expected to converge to about 2 percent in 2025 and over the medium-term, broadly in line with euro area inflation. The current account balance is projected to gradually return to a deficit of 1.3 percent of GDP in 2025, and then stabilize at around -3.5 percent over the medium term.

“Fiscal performance is forecast to be strong in 2025. Cabo Verde aims to maintain a fiscal path aligned with debt reduction goals, targeting a higher primary balance than foreseen under the previous review. Tax revenue is expected to increase reflecting ongoing tax reforms.

“The mission welcomed the BCV’s Monetary Policy Committee (MPC) decision to raise the deposit rate by 30 basis points to 2.25 percent to fully close the gap with the ECB. Continued data-driven adjustments in monetary policy may be needed to protect the exchange rate peg and appropriate reserves buffers. Data for end-March 2025 suggests that the financial system is liquid, profitable, and well capitalized.

“The macroeconomic outlook remains favorable but is subject to substantial downside risks. Cabo Verde is vulnerable to external shocks, including in energy, food prices, and tourism, especially in the context of heightened uncertainties in global trade frameworks. A global growth slowdown and supply chain disruptions would have a negative impact on tourism, inflation, and growth. Climate-related risks, such as rising sea levels and extreme weather events, pose long-term threats to infrastructure and economic stability. Delays in SOE reforms and increasing public debt could undermine fiscal sustainability. On the upside, continued strength in tourist arrivals could lift growth. Legislative and Presidential elections will take place in 2026.

“The IMF team is grateful to the Cabo Verdean authorities and other stakeholders for the productive discussions, hospitality, and candid discussions.”

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Kwabena Akuamoah-Boateng

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

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2025/05/13/pr25144-cabo-verde-imf-reaches-sla-on-the-6th-rev-under-the-ecf-and-3rd-rev-under-the-rsf-arr

MIL OSI
MIL OSI Russia News –
May 14, 2025
MIL-OSI Russia: Moscow Mayor Participates in Meeting of Boards of Trustees of Bolshoi and Mariinsky Theatres

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

Vladimir Putin held a meeting boards of trustees of the Bolshoi and Mariinsky theatres. It was attended by Sergei Sobyanin.

Opening the meeting, the Russian President noted that many companies and patrons actively help the country’s two leading theaters and other creative groups, museums, libraries and cultural institutions. With the support of trustees, initiatives related to the preservation of architectural and historical heritage are implemented, as well as tours, festivals, competitions, concerts, educational and exhibition events and programs are held. Particular attention is paid to the development of young musicians, artists and actors, which helps them to actively participate in the public life of the country.

“Cultural heritage, spiritual identity, creative wealth – this is a powerful foundation for the development of the country, the consolidation of society. By supporting a variety of projects in the cultural sphere, you, dear colleagues, make a great contribution to strengthening the unity of our people. I sincerely want to thank you for this and, of course, for your active participation in the life of the flagships of our culture: the Bolshoi and Mariinsky theaters. You are their true friends and partners,” said Vladimir Putin.

The performances and concerts of the two leading theatres of the country and their branches are in great demand and are loved by the public. Every year they present more than a dozen premieres, the President of Russia noted. Next year, the 250th anniversary of the Bolshoi Theatre, which is one of the most valuable objects of the national heritage of Russia, will be celebrated. Its anniversary will be a real holiday for all fans of opera, ballet and symphonic music. Preparations for it are already underway.

“The Bolshoi and the Mariinsky are two powerful symbols of Russia, without any exaggeration, they are our pride, the embodiment of great Russian culture and world centers of musical art,” Vladimir Putin noted.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/mayor/tkhemes/12747050/

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: Futures and options trading volume on Moscow Exchange reached 12 trillion rubles in April

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

The total volume of transactions on the Moscow Exchange futures market as of the end of April 2025 amounted to 12 trillion rubles (7 trillion rubles in April 2024). The volume of open positions at the end of the month was 2.2 trillion rubles (1.9 trillion rubles in April 2024).

In April 2025, 194 thousand clients concluded futures and options transactions on the Moscow Exchange (146 thousand in April 2024). The share of individuals in the total volume of exchange derivatives trading was 61%.

The most popular instruments in terms of the number of clients with open positions at the end of April were quarterly and perpetual futures on currency contracts “Chinese yuan – Russian ruble” (CNY and CNYRUBF), “US dollar – Russian ruble” (Si and USDRUBF), as well as monthly futures on natural gas (NG).

The share of the evening trading session in the total trading volume on the futures market was 17%. The top 5 popular instruments by trading volume in the evening period included futures on natural gas (NG), gold (GOLD), the Moscow Exchange Index (MIX), quarterly contracts on the US dollar – Russian ruble currency pairs (Si) and the RTS Index (RTS).

Morning trading in April accounted for 5% of the total trading volume. Most of all, clients traded quarterly gold futures (GOLD), the Moscow Exchange Index (MIX), the US dollar-Russian ruble (Si) and Chinese yuan-Russian ruble (CNY) currency pairs, and RTS Index futures (RTS).

In April, trading in a new instrument began on the Moscow Exchange futures market. European natural gas futures settlement contract TTF (TTF). The range of derivatives on foreign assets has been expanded cash-settled contracts for shares of the investment fund Invesco PHLX Semiconductor ETF (SOXQ). The fund tracks the Nasdaq PHLX Semiconductor Sector Index, which includes 30 leading companies involved in the development, production and distribution of semiconductors. Trading also began premium options on shares of two more issuers.

Contact information for media 7 (495) 363-3232Pr@moex.kom

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.MO/N90197

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: To colleagues, family and friends of Nina Grebeshkova

Translation. Region: Russian Federal

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

Mikhail Mishustin expressed his condolences in connection with the death of film actress, Honored Artist of Russia Nina Grebeshkova.

Please accept my deepest condolences on the death of Nina Pavlovna Grebeshkova.

Nina Pavlovna was an actress of unique talent and bright personality. Viewers loved the charming and touching heroines that she brilliantly played in the famous Gaidai comedies. Each of her roles is filled with extraordinary sincerity and special energy.

A warm-hearted and considerate person, Nina Pavlovna generously shared her warmth with colleagues, family and friends.

Nina Pavlovna is no longer with us, but she will forever remain in wonderful films. In our memory.

M. Mishustin

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

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Dmitry Patrushev visited the vessel “Captain Sokolov”, built under the investment quota mechanism

Translation. Region: Russian Federal

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

During a working visit to the Murmansk Region, Deputy Prime Minister Dmitry Patrushev, together with the head of the region Andrei Chibis, visited the seaport, where he inspected the newest fishing vessel, the Captain Sokolov, built under the investment quota mechanism.

“The fisheries complex is of great importance for the economy of the Murmansk region. The region’s users catch more than 10% of the all-Russian volumes. The region’s fishing enterprises participate in the implementation of the investment quota mechanism, which allows for the renewal of the fishing fleet, an increase in processing, and an increase in production efficiency. In general, the “keel quota” mechanism has given impetus to the revival of Russian commercial shipbuilding. Currently, 27 plants and 40 vessels have been built within the framework of the program. Of these, 23 are fishing vessels and 17 are crab vessels. During the period of the mechanism’s operation, 8 plants and 6 vessels have been built in the Murmansk region,” said Dmitry Patrushev.

One of such objects is the fishing vessel “Captain Sokolov”. On board is a modern fish processing factory with a capacity of up to 150 tons of frozen fish and canned goods per day. The freezing equipment of the vessel is capable of storing up to 1 thousand tons of fish.

The Deputy Prime Minister noted the innovative design of the bow of the hull. It increases the working space on the vessel, improves its seaworthiness, increases the durability of the vessel and the safety of navigation. It also creates the most comfortable conditions for the crew to live and work.

Coordination of work on completing the construction of fishing vessels within the framework of the implementation of the mechanism for providing quotas for the extraction (catch) of aquatic bioresources for investment purposes is being carried out by the Government of Russia within the framework of incident No. 42 “Fishing vessels”.

The “keel quota” mechanism is aimed at stimulating the development of the domestic fishing fleet.

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

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Marat Khusnullin: Almost 300 facilities are planned to be completed in Zaporizhzhia Oblast this year

Translation. Region: Russian Federal

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

Marat Khusnullin held a meeting with the Governor of Zaporizhia Oblast Yevgeny Balitsky, where they discussed increasing the reliability of the region’s energy complex, upgrading the housing and utilities sector and building modern housing, social facilities, and developing transport infrastructure.

“This year, federal customers and sponsor regions plan to commission almost 300 facilities in the Zaporizhia region. Also among the new facilities currently under construction is a multidisciplinary pediatric medical center in Melitopol, which is being built by the “Single Customer” on behalf of the President. Special attention was paid to issues of supporting state enterprises. Among them is the Berdyansk seaport. The Unified Institute of Spatial Planning, as part of the development of the city’s general plan, has prepared a set of proposals for its development, which by 2030 will increase the port’s capacity by more than 40%,” said Marat Khusnullin.

In addition, the topic of increasing the region’s tourist attractiveness, taking into account its existing potential, was touched upon. The Deputy Prime Minister emphasized that it is important to facilitate the creation of all necessary infrastructure, including road infrastructure. For example, about 30 km of the highway along the Sea of Azov is being updated.

“With the systematic support of the Government of the Russian Federation, the Zaporizhzhya Region has every chance and opportunity to take a worthy place on the tourist map of Russia and become one of the leaders of domestic tourism in the country. I am grateful to Marat Shakirzyanovich for his attentive attitude to every issue of our region’s development and practical assistance at every stage of work,” noted the Governor of the Zaporizhzhya Region, Yevgeny Balitsky.

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

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Xi Jinping Holds Talks with Brazilian President

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian –

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

BEIJING, May 13 (Xinhua) — Chinese President Xi Jinping held talks in Beijing on Tuesday with Brazilian President Luiz Inacio Lula da Silva, who is on a state visit to China.

Xi Jinping recalled that last year, on the occasion of the 50th anniversary of the establishment of diplomatic relations between China and Brazil, the two sides jointly announced the upgrading of bilateral ties to a China-Brazil community of shared future for a fairer world and a more sustainable planet.

The Chinese President called on both sides to vigorously advance the building of a China-Brazil community with a shared future, consistently strengthen the alignment of development strategies, and jointly promote solidarity and cooperation among countries in the Global South.

Xi Jinping stressed that China and Brazil should maintain strategic mutual trust, support each other on issues related to the two sides’ core interests and major concerns, and strengthen exchanges at all levels and in all areas.

The Chinese leader called on the two countries to expand cooperation, deepen the effective alignment of the Belt and Road Initiative with Brazil’s development strategy, make full use of various cooperation mechanisms between the two countries, strengthen cooperation in traditional areas such as infrastructure, agriculture and energy, and explore new areas of cooperation including energy transition, digital economy, artificial intelligence, aviation and space.

China and Brazil, Xi Jinping continued, should expand cultural and people-to-people exchanges, provide more facilities for people-to-people exchanges, and step up cooperation in culture, education, tourism, media, and at the local level.

The two sides should maintain active interaction in multilateral forums, the Chinese leader noted, adding that as the largest developing countries in the Eastern and Western hemispheres respectively, China and Brazil should strengthen coordination and cooperation in multilateral mechanisms, uphold multilateralism, improve global governance, safeguard the international trade and economic order, and firmly oppose unilateralism, protectionism and bullying.

L. I. Lula da Silva, for his part, stated that Brazil expects to deepen strategic cooperation with China and promote the construction of a Brazilian-Chinese community with a shared destiny.

Brazil is willing to align its development strategy with the Belt and Road Initiative and expand cooperation between the two countries in areas such as trade, infrastructure, space and finance, the president said. He also called on the two countries to expand youth and cultural exchanges and strengthen ties and friendship between the two peoples.

As L.I. Lula da Silva pointed out, protectionism and abuse of tariffs cannot promote development and prosperity, but instead lead to chaos. He stressed that China’s resolute stance in confronting global challenges gives strength and confidence to all countries. According to him, Brazil is ready to strengthen strategic cooperation with China in international affairs, cooperate to protect the common interests of the Global South, and uphold international fairness and justice.

At the Great Hall of the People, the heads of the two states attended the signing of 20 documents on cooperation in such areas as the alignment of development strategies, science and technology, agriculture, digital economy, finance, customs control and quarantine supervision, and the media.

The heads of the two states also met with the press together.

China and Brazil on Tuesday issued a joint statement on strengthening the joint construction of a China-Brazil community of shared future for a fairer world and a more sustainable planet and jointly safeguarding multilateralism, as well as a joint statement on the Ukraine crisis.

Before the talks, Xi Jinping and his wife Peng Liyuan held a welcoming ceremony for Luiz Inacio Lula da Silva and his wife Rosangela Lula da Silva. –0–

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 11-14 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A102DB2 (GPB001P18P) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

11:14

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 11-14 (Moscow time), the values of the upper limit of the price corridor (up to 108.77) and the range of market risk assessment (up to 1254.5 rubles, equivalent to a rate of 11.25%) of the RU000A102DB2 (GPB001P18P) security were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MEEX.K.M.M.

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 11:39 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A10A6B8 (RusGid2P02) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

11:39

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 11-39 (Moscow time), the values of the upper limit of the price corridor (up to 121.94) and the range of market risk assessment (up to 1275.32 rubles, equivalent to a rate of 10.0%) of the security RU000A10A6B8 (RusGid2P02) were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MEEX.K.M.M.

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 12-12 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0ZZ7G1 (KAMAZ BO-7) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

12:12

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 13.05.2025, 12-12 (Moscow time), the values of the upper limit of the price corridor (up to 107.59) and the range of market risk assessment (up to 1257.83 rubles, equivalent to a rate of 13.75%) of the RU000A0ZZ7G1 (KAMAZ BO-7) security were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.M.M.

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Marat Khusnullin: By 2030, more than 50 thousand km of utility networks will be updated under the national project “Infrastructure for Life”

Translation. Region: Russian Federal

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

Work on modernizing housing and communal services systems and facilities is intensifying in the regions. Since this year, it has been carried out within the framework of the federal project “Modernization of communal infrastructure” as part of the national project “Infrastructure for life”. By 2030, the country plans to replace at least 2.5% of communal networks annually, Deputy Prime Minister Marat Khusnullin reported.

“Modernization of public utility infrastructure is one of the key components of the comprehensive development of populated areas and improving the quality of life of Russians. To achieve the indicators of the national project “Infrastructure for Life”, it is necessary to significantly update the infrastructure and modernize the capacity of utility networks. This large-scale work is aimed at solving existing problems in the housing and utilities sector. At the same time, it is important to ensure systemic planning, the basis for which should be comprehensive plans for the modernization of regional housing and utilities systems. In general, from 2025 to 2030, it is necessary to build and modernize more than 50 thousand km of utility networks, at least 2 thousand drinking water supply and water treatment facilities. This will improve the quality of utilities for 20 million Russians. By 2030, it is planned to replace at least 2.5% of the networks annually, by 2035 this figure should be at least 5%,” said Marat Khusnullin.

In total, 4.5 trillion rubles must be allocated for the modernization of the housing and utilities sector, with a larger volume of funds to be provided from extra-budgetary sources. Such instruments as infrastructure bonds, treasury infrastructure loans, writing off two-thirds of the regions’ debt on budget loans, subsidies from the federal budget and regional budget funds, as well as tariff sources of resource supplying organizations are involved in the financing.

The Deputy Prime Minister added that in 2019–2024, more than 12,000 km of utility networks and 5,500 housing and utilities infrastructure facilities were built and modernized in the country’s regions. The Territorial Development Fund is the operator of a number of federal programs supervised by the Ministry of Construction.

“In particular, these are programs involving infrastructure budget and special treasury loans, as well as concessional loans from the National Welfare Fund. Under the IBC program, more than 270 housing and communal services facilities and events have been completed since 2022, including over 1,000 km of utility networks. Within the framework of the SKK program launched in 2023 as a continuation of this regional development instrument, 120 facilities and events have been completed, including over 320 km of utility networks. Thanks to concessional loans from the NWF, since the launch of this program in 2022, about 1.1 thousand facilities have been commissioned, including over 1.3 thousand km of utility networks. These utilities infrastructure modernization tools have proven to be in demand by the regions, and their implementation continues,” said Ilshat Shagiakhmetov, General Director of the Territorial Development Fund.

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

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: More than 5.7 thousand Russian companies concluded transactions on the money market in April 2025

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

Russian businesses actively use the exchange infrastructure to place and attract funds on market terms with the most flexible parameters and a wide range of counterparties. The number of Russian commercial organizations that concluded transactions on the money market in April 2025 was a record and amounted to 5.7 thousand (16% since the beginning of 2025).

The average daily open position of Russian companies in money market instruments in April 2025 increased to 1.8 trillion rubles, which is twice as high as the average daily figure in 2024.

The volume of transactions of Russian companies with direct access to the deposit market with a central counterparty (CCP) amounted to 10.4 trillion rubles at the end of April, which is almost three times higher than the average monthly volume of their transactions in 2024.

The volume of transactions by corporate clients using brokerage access to the Moscow Exchange repo market reached 17.6 trillion rubles in April, which is twice their average monthly volume in 2024.

Almost 300 companies, including almost two dozen new ones entering the market in 2025, today have direct access to the deposit market with the Central Bank. 230 companies use it to conclude transactions in the deposit market with the Central Bank. MOEX Treasury web interfaceOperations in the deposit market are carried out by corporations, banks, insurance companies, management companies, pension funds, etc.

Deposits with the Central Credit Union (CCU) are a segment of the Moscow Exchange money market that provides the opportunity to place funds on market terms without the need to set limits on individual counterparties using the exchange and settlement infrastructure of the Moscow Exchange Group. The term of the deposit is from one day to one year, the deposit currency is the Russian ruble and the Chinese yuan. Applications for the placement of funds in deposits with the CCU are matched with repo applications with clearing participation certificates (CPC) from professional participants in the securities market on the Moscow Exchange money market, which ultimately contributes to the influx of additional liquidity into the Russian exchange market.

Operations on the repo market with the help of brokerage access allow Russian companies to use the most liquid market of the Russian Federation to place and attract funds secured by securities from the widest range of counterparties for a period from one day to one year.

The Moscow Exchange Money Market is one of the most important segments of the Russian financial market, with the help of which both large corporations and small companies and individual investors manage their monetary liquidity. The list of money market instruments includes repo with the Central Credit Union, repo with the Central Credit Union, repo with the Bank of Russia, interdealer repo, deposits with the Central Credit Union, loans, as well as deposit and loan auctions. The Moscow Exchange acts as the organizer of trades, clearing and settlements are carried out by the National Clearing Center (NCC, part of the Moscow Exchange Group).

Contact information for media 7 (495) 363-3232Pr@moex.kom

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.M.M.

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 14-10 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0JVXS5 (RESOLizB04) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

14:10

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 13.05.2025, 14-10 (Moscow time), the values of the upper limit of the price corridor (up to 122.45) and the range of market risk assessment (up to 1382.93 rubles, equivalent to a rate of 37.5%) of the RU000A0JVXS5 (RESOLizB04) security were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.MO/N90187

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 14-36 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A1008P1 (Rosnft2P6) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

14:36

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 14-36 (Moscow time), the values of the upper limit of the price corridor (up to 89.01) and the range of market risk assessment (up to 938.91 rubles, equivalent to a rate of 13.5%) of the security RU000A1008P1 (Rosnft2P6) were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MEEX.K.M.M.

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Dmitry Chernyshenko: The main stage of the Unified State Exam will begin on May 23 in all 89 regions of Russia and 55 foreign countries

Translation. Region: Russian Federal

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

A meeting was held under the chairmanship of Deputy Prime Minister Dmitry Chernyshenko on the issue of readiness to conduct the state final certification (SFC) for basic general and secondary general education programs in 2025.

Its participants discussed the readiness of the subjects of the Russian Federation, including border territories and reunited regions, to conduct the Unified State Exam, Basic State Exam, and State Final Exam.

Dmitry Chernyshenko noted that, on the instructions of President Vladimir Putin, changes were made to the federal basic general education programs. They will come into force on September 1, 2025. The main and unified state exams are synchronized with the programs.

“Based on many years of accumulated experience, we see that competent organization of the exam at the local level is an important condition for good results. Over the past two years, according to the results of monitoring, Novosibirsk, Belgorod, Tambov and Leningrad regions, the Altai Republic, the Yamalo-Nenets Autonomous Okrug, the Republic of Tatarstan, the federal cities of Sevastopol and Moscow have demonstrated a stable exemplary level of conducting the examination campaign. The heads of the regions must take personal control of key issues related to the conduct of the state final certification,” the Deputy Prime Minister said.

At the request of the Belgorod Region, in connection with the current situation, two additional days for exams were added to the Unified State Exam schedule: in mathematics – May 26, in Russian language – May 29. Graduates from the DPR, LPR, Kherson and Zaporizhia regions, individual schools in border regions, as well as children who moved from these regions, can take the final assessment in the form of an interim assessment.

“We believe that the early period of the Unified State Exam was held in the normal mode. On May 23, the main stage of the Unified State Exam will begin in all 89 regions of Russia and 55 foreign countries. Traditionally, the exam procedure itself requires special control. For this purpose, over 300 thousand specialized specialists, more than 6 thousand medical workers and about 40 thousand public observers will be involved in the examination centers. Since 2024, on the instructions of President Vladimir Putin, graduates have the right to retake the Unified State Exam in one subject. This year, such retakes will take place on July 3 and 4,” said Dmitry Chernyshenko.

All results of the State Final Attestation are necessarily entered into the federal information system.

In conclusion, the Deputy Prime Minister paid special attention to the need to establish prompt interdepartmental cooperation with education authorities, the Ministry of Internal Affairs, the Ministry of Health, the Ministry of Energy, the Russian National Guard and the media for the smooth conduct of examination and admissions campaigns.

“Our system is generally ready to conduct both the Unified State Exam and the Main State Exam. The main period of the OGE starts on May 21, and the main period of the USE starts on May 23. It is important that the order of the President of Russia on synchronizing programs and exam assignments has been fulfilled, they do not go beyond the educational program, and calendar-thematic planning has been included in the programs,” said Minister of Education Sergey Kravtsov.

The head of the Ministry of Education noted that in 2025, an experiment to expand the availability of secondary vocational education will be conducted in Moscow, St. Petersburg and the Lipetsk region. By the end of May, the ministry will develop regulations for taking into account the results of control procedures (USE, OGE, VPR, diagnostic work) in the educational process. In June, the document will be sent to the subjects.

The Minister of Education added that the share of those choosing the Unified State Exam in mathematical and natural science subjects will be 35% by 2030, with the planned figure for 2025 being 32%.

Head of Rosobrnadzor Anzor Muzaev said that this year over 712 thousand people have registered to participate in the Unified State Exam, of which over 637 thousand are this year’s graduates. He focused the special attention of regional executive authorities on monitoring the technical readiness of all examination points, the readiness of the organizers, as well as ensuring the safety of all exam participants and those involved in their conduct.

The head of Rosobrnadzor separately focused on this year’s changes. “This year, work was carried out to synchronize control measurement materials with federal state educational standards and federal educational programs. This is the President’s order, and it has been fulfilled,” said Anzor Muzaev.

Rosobrnadzor also took into account a number of comments from members of the public and the deputy corps regarding the procedure for conducting the Unified State Exam. “We held a broad discussion and implemented these proposals in 2025. Rosobrnadzor’s methodological recommendations include detailed instructions for persons involved in admitting exam participants to exam points, as well as instructions for setting up stationary and portable metal detectors. We proposed actively involving parents of students, including representatives of parent committees, to monitor compliance with the rights of graduates during their admission and presence at exam points,” said Anzor Muzaev.

Another innovation of the 2025 examination campaign is the ability to promptly report information about any violations in the Unified State Exam directly to Rosobrnadzor via the feedback platform on the public services portal. Each examination point has posters with a QR code, which can be used to send this information directly to a Rosobrnadzor employee so that any problems that arise are resolved as quickly as possible.

Representatives of the Ministry of Health, the Ministry of Emergency Situations, the Ministry of Internal Affairs, the Russian National Guard and all regions of Russia also took part in the meeting. Representatives of border regions separately reported on their readiness to conduct the state final certification: Deputy Governor of the Belgorod Region – Minister of Education of the Belgorod Region Andrey Milekhin, Acting Deputy Chairman of the Government of the Kursk Region Oksana Krutko, Acting Deputy Governor of the Bryansk Region Denis Amelichev.

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

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: On changes in the procedure for executing futures contracts on the Russian Market Volatility Index

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

Moscow Exchange reminds that on April 22, 2025, a new specification of futures contracts on the Russian Market Volatility Index came into force, according to which the procedure for executing these futures contracts will change.

In accordance with the new version of the specification, the underlying asset of futures contracts is the Volatility Index of the Russian Market. Previously, the underlying asset was the volatility value, which was calculated based on the prices of two series of options on the RTS Index futures contract.

Thus, the futures strike price is now determined as the arithmetic mean value of the RVI Index, calculated for the period from 14:05:15 to 18:05:00 inclusive.

More detailed information is contained in the contract specification. on the Moscow Exchange website.

Contact information for media 7 (495) 363-3232Pr@moex.kom

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.MO/N90191

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Dmitry Patrushev: The project to dispose of a sunken floating dock in the Murmansk region is unprecedented for our country

Translation. Region: Russian Federal

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

Deputy Prime Minister Dmitry Patrushev visited the Murmansk Region on a working visit, inspected the site of the sinking of the largest floating dock in Russia and held a meeting dedicated to organizing the work on its disposal. The meeting was attended by the head of the Murmansk Region, the leadership of the Ministry of Natural Resources of Russia, the Ministry of Transport of Russia, Rosmorrechflot and other interested departments.

“The situation with the sunken dock in the Murmansk region creates a number of problems. These are serious obstacles to shipping and a negative impact on the environment. In addition, this water area is of strategic importance for the development of the Northern Sea Route and the Vostok Oil project, which are being implemented on the instructions of the President of Russia. A project for the disposal of this floating dock is currently being created, and then we will begin work. The project will be large-scale and even unique, since similar-sized sunken objects have not yet had to be disposed of in our country. Nevertheless, we understand how to do this. We have design institutes that are ready to take on the work and then remove this object,” said Dmitry Patrushev.

The Deputy Prime Minister called for the work to be accelerated because, due to the local climate, the season favorable for the survey will be short.

Following the meeting, the Russian Ministry of Transport and Rosmorrechflot, together with the region, were instructed to promptly develop and approve a “road map” for organizing the disposal process.

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

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial News: Long-Term Savings Program Will Become Even More Accessible

Translation. Region: Russian Federal

Source: Central Bank of Russia –

From October 1, 2025, it will be possible to conclude an agreement with a non-state pension fund and become a participant in the long-term savings program through the State Services portal, which will increase the availability of this product for citizens. Such changesThe State Duma approved the legislation in the second and third readings.

The amendments also introduce a cooling-off period, when the contract can be terminated early without losing benefits. Now, if a program participant has made a contribution and then changed his mind and decided to leave it, he loses the right to receive co-financing from the state, including when concluding such contracts in the future. The same principle applies if a person has several long-term savings contracts and is going to close at least one of them.

According to the new rules, a program participant has the right to terminate a long-term savings agreement under which he did not receive co-financing, and at the same time retain the right to state support under other long-term savings agreements, if he managed to do so before April 1 of the year when funds from the state are to be received.

This rule will come into effect 10 days after the official publication of the law.

Preview photo: Jack Frog / Shutterstock / Fotodom

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV.KBR.ru/Press/Event/? ID = 24596

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 10-10 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A10AQC0 (IADOM 1P51) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

10:10

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 10-10 (Moscow time), the values of the upper limit of the price corridor (up to 84.67) and the range of market risk assessment (up to 899.46 rubles, equivalent to a rate of 31.25%) of the RU000A10AQC0 security (IADOM 1P51) were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.M.M.

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 10:24 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A1008P1 (Rosnft2P6) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

10:24

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 13.05.2025, 10-24 (Moscow time), the values of the upper limit of the price corridor (up to 87.17) and the range of market risk assessment (up to 920.3 rubles, equivalent to a rate of 11.25%) of the security RU000A1008P1 (Rosnft2P6) were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MOEX.K.M.M.

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Financial news: 05/13/2025, 10:51 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A100YQ0 (Rosnft2P9) were changed.

Translation. Region: Russian Federal

Source: Moscow Exchange – Moscow Exchange –

05/13/2025

10:51

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 10-51 (Moscow time), the values of the upper limit of the price corridor (up to 90.12) and the range of market risk assessment (up to 945.52 rubles, equivalent to a rate of 11.25%) of the RU000A100YQ0 (Rosnft2P9) security were changed.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //VVV. MEEX.K.M.M.

MIL OSI Russia News –

May 14, 2025

MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with St. Kitts and Nevis

Source: IMF – News in Russian

May 13, 2025

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

Following the post-pandemic rebound, the economy is facing challenges. Real GDP growth moderated to 1.5 percent in 2024, reflecting lower contributions from tourism and government services, while inflation eased to 1 percent. The fiscal deficit increased to 11 percent of GDP in 2024, mainly driven by a sharp decline in Citizenship-by-Investment (CBI) revenue amid recent reforms aimed at strengthening the CBI program. The current account deficit widened due to lower CBI inflows. Meanwhile, credit growth accelerated on the back of pent-up demand, especially in mortgage loans, amid increasing competition. Groundwork is ongoing for a potentially transformative geothermal project.

In 2025, economic growth is projected to strengthen to 2 percent supported by expanding tourism, while inflation is expected to remain stable.[2] In the medium term, growth is forecast to rise to 2½ percent, benefiting from large energy projects. Nonetheless, fiscal deficits are forecasted to remain high in the medium term, driven by expectations of structurally lower CBI revenue, resulting in public debt exceeding 70 percent of GDP by 2030.

Near-term risks to growth are tilted to the downside, but progress in fostering renewable energy provides upside potential over the medium term. The uncertainty and volatility of CBI revenue pose a significant two-sided risk, but a further decline in CBI revenue would pressure fiscal accounts. Downside risks include a slowdown in key source markets for tourism, global financial instability, and commodity price volatility. The economy is highly exposed to natural disasters. On the other hand, the energy projects could foster growth and fiscal revenue in the medium term.

Executive Board Assessment[3]

Executive Directors welcomed the authorities’ commitment to prudent policy reforms and stressed that the significant challenges the economy is facing require a multipronged approach to address low growth and fiscal sustainability, while safeguarding financial stability and the external position.

Directors encouraged the authorities to implement a prompt and decisive fiscal consolidation to keep public debt below the regional debt ceiling and reduce reliance on the Citizenship‑by‑Investment Program (CBI). This would create space for capital expenditure, resilience against natural disasters, and contingent liabilities. Directors stressed that fiscal consolidation should be driven by tax revenue mobilization and reductions in current expenditures, anchored by fiscal rules. Greater diversification of funding sources would also help to lengthen debt maturities and lower financing costs. Directors supported the authorities’ plan to establish a Sovereign Wealth Fund to absorb upsides in CBI revenue and called for continuing improvements in the CBI framework, including its transparency. They also welcomed the authorities’ initiatives to implement reforms to improve the sustainability of the Social Security Fund.

Directors underscored that further progress is needed to strengthen the financial sector, including to reduce NPLs and meet the ECCB’s prudential requirements. They emphasized the importance of continuing to strengthen the balance sheet of the systemic bank and to revitalize its business model. Directors also called for reforms of the Development Bank, building on the authorities’ work in this area. They stressed the need to monitor rapid credit growth and further strengthen the regulation and oversight of credit unions. It will also be important to make additional progress in strengthening the AML/CFT framework.

Directors emphasized that structural reforms and improved preparedness for natural disasters are crucial to boost potential growth. They stressed that reforms are necessary to enhance the efficiency of government services, improve credit access, and better align labor skills with market demands. Directors noted that accelerating the energy transition would help increase competitiveness. Finally, they underscored the need to enhance the investment and the multi‑layered insurance frameworks to strengthen natural disaster preparedness.

St. Kitts and Nevis: Selected Economic Indicators 2020-26 1/
						Est.			Proj.
	2020	2021		2022	2023			2024			2025		2026
	(Annual percentage change, unless otherwise specified)
National income and prices
Real GDP (market prices) 2/	-14.6	-1.7		10.5	4.3			1.5			2.0		2.2
Real GDP (factor cost) 2/	-13.4	-1.0		8.0	5.0			4.3			0.7		0.5
Consumer prices, period average	-1.2	1.2		2.7	3.6			1.0			1.7		2.0
Real effective exchange rate appreciation (+) (end-of-period)	-1.0	-3.1		-1.4	-0.7			-2.4			…		…

Money and credit 3/
Broad money	-8.1	8.9		3.7	-1.9			2.5			13.5		8.9
Change in net foreign assets	-0.4	9.1		-7.0	-6.4			-12.8			-2.3		-2.0
Net credit to general government	-18.4	-4.8		4.9	0.3			9.3			10.3		6.6
Credit to private sector	-4.0	7.7		5.8	5.2			9.8			8.1		6.4
	(In percent of GDP)
Public sector 4/
Total revenue and grants	33.5	46.6		45.2	43.0			31.1			32.5		33.2
o/w Tax revenue	18.8	19.0		18.4	19.3			18.7			18.2		19.0
o/w CBI fees	11.3	23.4		25.3	21.7			8.1			9.0		9.0
Total expenditure and net lending	36.5	41.2		49.4	43.3			41.7			42.2		39.8
Overall balance	-3.1	5.4		-4.2	-0.3			-10.6			-9.8		-6.6
Total public debt (end-of-period)	68.0	69.1		60.2	55.9			52.2			61.4		65.6
General government deposits (percent of GDP) 5/	21.6	30.4		21.6	20.4			10.4			10.3		9.9

External sector
External current account balance	-10.8	-3.4		-11.4	-11.6			-15.1			-13.1		-12.8
Trade balance	-28.0	-24.8		-34.7	-32.8			-32.7			-32.3		-33.3
Memorandum items
Net international reserves, end-of-period
(in millions of U.S. dollars)	365.4	312.8	270.3		262.4		270.7			269.0		267.3

Nominal GDP at market prices (in millions of EC$)	2,387	2,318	2,650		2,850		3,017			3,048		3,171
Sources: St. Kitts and Nevis authorities; ECCB; UNDP; World Bank; and IMF staff estimates and projections.
1/ The staff report projections are based on the information available as of March 27, 2025. Therefore, they do not reflect the impact of trade tensions since April 2, 2025. 2/ In June 2021, the National Statistics Office revised historical GDP series.
3/ The series for monetary aggregates have been revised consistent with the 2016 Monetary and Financial Statistics Manual and Compilation Guide.
4/ Consolidated general government balances. Primary and overall balances are based on above-the-line data.
5/ Includes only central government deposits at the commercial banks.

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

[2] Since the issuance of the Staff Report, economic growth has been marked down, reflecting the impact of trade tensions combined with their effects on global policy uncertainty and global financial conditions, primarily through tourism and FDI (see the Supplement).

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

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Rosa Hernandez Gomez

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

https://www.imf.org/en/News/Articles/2025/05/12/pr-25139-st-kitts-and-nevis-imf-executive-board-concludes-2025-article-iv-consultation

MIL OSI

MIL OSI Russia News –

May 14, 2025

MIL-OSI Russia: Chairman of the NPC Standing Committee meets with Zimbabwe National Assembly Speaker

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

BEIJING, May 13 (Xinhua) — Zhao Leji, chairman of the Standing Committee of the National People’s Congress (NPC), met with Jacob Mudenda, speaker of the National Assembly (lower house of parliament) of Zimbabwe, in Beijing on Tuesday.

Zhao Leji noted that over the 45 years since the establishment of diplomatic relations between China and Zimbabwe, the two countries have always maintained mutual trust and support for each other, and bilateral relations have successfully stood the test of time and changes in the international situation.

The NPC Standing Committee Chairman recalled that last year, the two heads of state held in-depth friendly exchanges in Beijing and reached an important consensus, outlining a new plan for the development of interstate relations and mutually beneficial cooperation. According to Zhao Leji, China is willing to work with Zimbabwe to implement the consensus reached by the two leaders and jointly build a high-level China-Zimbabwe community with a shared future.

He stressed that China stands ready to make joint efforts with Zimbabwe to maintain and develop high-level political mutual trust, continue to provide firm mutual support on issues concerning each other’s core interests, strengthen the synergy of development strategies and enhance international cooperation.

The NPC is willing to expand friendly exchanges at all levels with the Zimbabwean parliament and carry out exchanges and mutual learning on issues such as lawmaking, supervision, improving people’s livelihood, social governance and combating cross-border crime, so as to create a favorable legal environment for practical bilateral cooperation, Zhao Leji added.

J. Mudenda, for his part, noted that under the leadership of the two leaders, the Zimbabwe-China comprehensive strategic partnership of cooperation has been continuously deepened. Zimbabwe, he continued, firmly adheres to the one-China principle and is grateful to the Chinese government and people for their long-term and valuable support. According to him, Zimbabwe hopes to expand practical cooperation with China in such areas as trade, energy, agriculture, artificial intelligence and cultural and people-to-people exchanges.

The Zimbabwe National Assembly is willing to expand friendly exchanges with the NPC and exchange views on issues such as promoting socio-economic development through lawmaking so as to make legislative contributions to building a high-level Zimbabwe-China community with a shared future, Mudenda added. –0–

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Peng Liyuan, Brazil’s First Lady Visit National Centre for the Performing Arts in Beijing

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

BEIJING, May 13 (Xinhua) — Peng Liyuan, wife of Chinese President Xi Jinping, and Rosangela Lula da Silva, wife of Brazilian President Luiz Inacio Lula da Silva, visited the National Center for the Performing Arts (NCPA) in Beijing on Tuesday.

R. Lula da Silva accompanies the Brazilian leader during his state visit to China.

Peng Liyuan and the Brazilian First Lady toured the interior architecture of the NCCA, visited the exhibition of the center’s artistic achievements entitled “Stage of Enduring Glory”, and learned about the NCCA’s activities in promoting international cultural exchanges and popularizing the arts. After the tour, Peng Liyuan invited R. Lula da Silva to enjoy excerpts from classical Chinese operas and a choral performance of Chinese and Brazilian songs.

Stressing that both China and Brazil are cultural powers, Peng Liyuan drew attention to the intensification of bilateral cultural and humanitarian exchanges in recent years and the deepening mutual understanding and friendship between the peoples of the two countries. The spouse of the Chinese leader expressed hope that the parties will maintain this positive momentum and promote further rapprochement between the two peoples.

R. Lula da Silva, for her part, expressed her heartfelt gratitude to Peng Liyuan for her hospitality and admired the brilliant performance of the singers. She praised China’s achievements in development and its magnificent culture, expressing her intention to actively promote cultural and humanitarian exchanges between the two countries and make new contributions to deepening the friendship between Brazil and China. –0–

MIL OSI Russia News –

May 14, 2025
MIL-OSI Russia: Chinese Premier Congratulates M. Carney on Taking Office as Prime Minister of Canada

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

BEIJING, May 13 (Xinhua) — Chinese Premier Li Qiang on Tuesday sent a message to Mark Carney, congratulating him on his assumption of office as prime minister of Canada.

Noting that China attaches great importance to its relations with Canada, Li Qiang stressed that he hopes to join hands with M. Carney to take advantage of the 55th anniversary of the establishment of diplomatic relations and the 20th anniversary of the establishment of strategic partnership to push China-Canada ties in the right direction of improvement and development on an equal and mutually respectful basis, to the benefit of both countries and their peoples. –0–

MIL OSI Russia News –

May 14, 2025

MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Costa Rica

Source: IMF – News in Russian

May 13, 2025

Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Costa Rica on May 12, 2025. ^[1]

Costa Rica has achieved remarkable economic progress due to its very strong fundamentals, policies, and policy frameworks. GDP growth has averaged above 5 percent per year since 2021, inflation is rising toward the Banco Central de Costa Rica’s (BCCR) target of 3 percent, public debt has fallen steadily to below 60 percent of GDP, international reserves are at comfortable levels, and systemic financial stability risks are contained.

Such factors are expected to support robust growth going forward notwithstanding external headwinds. This year, growth is expected to moderate to around potential (3½ percent) and the current account deficit is expected to increase slightly to 1.8 percent of GDP, while the primary surplus is expected to rise to 1¼ percent of GDP as fiscal consolidation continues. Inflation is expected to return to the BCCR’s target in 2026.

Risks to the growth outlook have tilted to the downside while those for inflation are balanced. Weaker external demand, tighter global financial conditions, and increased policy uncertainty could reduce Costa Rica’s exports, foreign direct investment (FDI) inflows, and economic activity, but the country’s strategic location, high-value exports and economic diversification could drive continued strong growth momentum. Upside risks to inflation include strong credit growth and supply-side disruptions, but there are also downside risks, especially if inflation expectations soften.

Executive Board Assessment^[2]

Executive Directors commended Costa Rica’s remarkable economic progress based on its very strong fundamentals, policies, and policy frameworks. Directors welcomed the authorities’ very strong implementation of macroeconomic policies, wide‑ranging reforms in the process of becoming an OECD member, the successful completion of IMF‑supported programs, and a strategic focus on exports and economic diversification. They praised the authorities’ commitment to continued prudent policies and structural reforms to maintain resilience amid heightened external uncertainty.

Directors welcomed the sustained decline of public debt. They stressed that the medium‑term fiscal consolidation is appropriately paced but will require spending to be kept below the ceiling permitted by the fiscal rule. Directors concurred that tax reforms should aim to increase equity, efficiency, and the revenue‑to‑GDP ratio. They stressed the importance of full implementation of the public employment law by all public institutions without delay. The disputed claim by the social security system should also be resolved comprehensively, including by clarifying the central government budget’s responsibility, coupled with improvements in the registries of beneficiaries and the system’s governance and accountability. Directors also supported reforms to debt management to increase flexibility in issuing external debt.

Directors commended BCCR’s forward‑looking data‑dependent approach to monetary policy, which has proven effective. They concurred that there is scope to cut the policy rate if the convergence of inflation to the BCCR’s target weakens in the coming months. They also underscored the importance of passing legislation to further improve the BCCR’s governance, transparency, and accountability, and to institutionalize its de facto autonomy. Directors recommended that the exchange rate should be allowed to flexibly adjust to market conditions, limiting foreign exchange intervention to addressing market volatility.

Directors stressed that indicators of financial soundness remain comfortable, yet the resolution of small non‑bank financial institutions last year highlights the importance of a very strong supervisory and crisis management framework. They underscored the importance of passing the proposed amendments to the bank resolution and deposit insurance law. Directors also called for close monitoring of risks related to the rise in FX lending.

Directors welcomed the authorities’ efforts to advance supply‑side reforms to help sustain Costa Rica’s impressive economic performance. Reducing skills mismatches, enhancing infrastructure quality, and implementing legislation on public‑private partnerships would further strengthen potential growth. Better integrating climate considerations into public investment decisions will make infrastructure more resilient against natural disasters.

Costa Rica: Selected Economic Indicators

				Projections
	2022	2023	2024	2025	2026	2027	2028

Output and Prices	(Annual percentage change)
Real GDP	4.6	5.1	4.3	3.4	3.4	3.5	3.5
GDP deflator	6.3	-0.1	0.0	3.0	3.2	3.2	3.2
Consumer prices (period average)	8.3	0.5	-0.4	2.2	3.0	3.0	3.0

Savings and Investment	(In percent of GDP, unless otherwise indicated)
Gross domestic saving	14.4	13.8	14.3	13.8	13.5	14.1	14.4
Gross domestic investment	17.7	15.3	15.7	15.6	15.4	15.7	16.0

External Sector
Current account balance	-3.3	-1.4	-1.4	-1.8	-1.9	-1.6	-1.5
Trade balance	-6.7	-3.7	-2.6	-3.4	-4.0	-3.7	-3.9
Financial account balance	-1.9	-0.7	-0.8	-1.8	-1.9	-1.6	-1.5
Foreign direct investment, net	-4.4	-4.3	-4.5	-4.1	-4.0	-4.1	-4.3
Gross international reserves (millions of U.S. dollars)	8,724	13,261	14,181	14,932	15,792	16,485	17,301
External debt	50.7	43.3	42.0	42.1	43.3	44.0	44.4

Public Finances
Central government primary balance	2.1	1.6	1.1	1.3	1.5	1.6	1.6
Central government overall balance	-2.8	-3.3	-3.8	-3.2	-2.8	-2.5	-2.3
Central government debt	63.0	61.1	59.8	59.7	59.0	57.9	56.7

Money and Credit
Credit to the private sector (percent change)	3.3	1.9	6.2	6.4	6.5	6.6	6.6
Monetary base ¹	8.0	7.9	8.3	8.3	8.3	8.2	8.2
Broad money	47.5	47.4	51.3	50.5	50.9	51.5	52.3

Memorandum Items
Nominal GDP (billions of colones)	44,810	47,059	49,116	52,307	55,830	59,647	63,720
Output gap (as percent of potential GDP)	-0.3	1.0	0.6	0.4	0.2	0.1	0.0
GDP per capita (US$)	13,240	16,390	17,909	19,095	20,036	21,057	22,138
Unemployment rate	11.7	7.3	6.9	7.5	8.0	8.5	8.5
Sources: Central Bank of Costa Rica, and Fund staff estimates.
¹ Includes currency issued and required domestic reserves.

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