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Category: Russia

  • MIL-OSI Russia: Irkeshtam checkpoint sets record for daily number of vehicles

    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, June 28 (Xinhua) — The maximum daily number of vehicles that passed through the Irkeshtam checkpoint on the Chinese-Kyrgyz border recently reached a record high of 1,243 units, Zhongxinshe news agency reported.

    The increase in the number of vehicles passing through the checkpoint after inspection was due to the launch of 24/7 customs clearance of goods in a test format on June 1.

    Irkeshtam, China’s westernmost land border crossing, is located in Uqia County, Kyzylsu Kyrgyz Autonomous Prefecture, Xinjiang Uygur Autonomous Region. The checkpoint was officially opened in May 2002. The road connects Irkeshtam, Kyrgyzstan’s Osh Region, Andijan and other logistics hubs.

    Thus, Irkeshtam became the second Xinjiang checkpoint after Khorgos, where it was possible to ensure continuous operation in the area of customs clearance of goods.

    The local customs service reported that the Chinese and Kyrgyz sides have established permanent contacts in order to ensure uninterrupted trade turnover. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Irkeshtam checkpoint sets record for daily number of vehicles

    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, June 28 (Xinhua) — The maximum daily number of vehicles that passed through the Irkeshtam checkpoint on the Chinese-Kyrgyz border recently reached a record high of 1,243 units, Zhongxinshe news agency reported.

    The increase in the number of vehicles passing through the checkpoint after inspection was due to the launch of 24/7 customs clearance of goods in a test format on June 1.

    Irkeshtam, China’s westernmost land border crossing, is located in Uqia County, Kyzylsu Kyrgyz Autonomous Prefecture, Xinjiang Uygur Autonomous Region. The checkpoint was officially opened in May 2002. The road connects Irkeshtam, Kyrgyzstan’s Osh Region, Andijan and other logistics hubs.

    Thus, Irkeshtam became the second Xinjiang checkpoint after Khorgos, where it was possible to ensure continuous operation in the area of customs clearance of goods.

    The local customs service reported that the Chinese and Kyrgyz sides have established permanent contacts in order to ensure uninterrupted trade turnover. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: In January-May, Manzhouli checkpoint ranked first in China in terms of the number of China-Europe trains entering the country

    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, June 28 (Xinhua) — Manzhouli Port ranked first in China in terms of the number of freight trains entering the country on the China-Europe international freight transport route in the first five months of this year, according to the press service of the people’s government of the city of the same name in the Inner Mongolia Autonomous Region.

    According to statistics, during the reporting period, a total of 1,826 freight trains passed through the said checkpoint, transporting 189 thousand standard containers (twenty-foot equivalent, TEU).

    In particular, 1,123 such trains passed through the border crossing in the opposite direction, delivering 116,000 standard containers to the country. In terms of these indicators, Manzhouli exceeded other checkpoints in the country.

    The Manzhouli checkpoint is located on the border of China with the Zabaikalsky Krai of Russia. Currently, freight trains traveling in the opposite direction as part of China-Europe cargo transportation connect Manzhouli with more than 60 cities in the country, including Harbin, Shenyang, Xi’an, Nanjing, Zhengzhou, Changsha and Chengdu. The range of products imported to China through the checkpoint includes essential goods, equipment, metals, agricultural products, timber, etc. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: In January-May, Manzhouli checkpoint ranked first in China in terms of the number of China-Europe trains entering the country

    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, June 28 (Xinhua) — Manzhouli Port ranked first in China in terms of the number of freight trains entering the country on the China-Europe international freight transport route in the first five months of this year, according to the press service of the people’s government of the city of the same name in the Inner Mongolia Autonomous Region.

    According to statistics, during the reporting period, a total of 1,826 freight trains passed through the said checkpoint, transporting 189 thousand standard containers (twenty-foot equivalent, TEU).

    In particular, 1,123 such trains passed through the border crossing in the opposite direction, delivering 116,000 standard containers to the country. In terms of these indicators, Manzhouli exceeded other checkpoints in the country.

    The Manzhouli checkpoint is located on the border of China with the Zabaikalsky Krai of Russia. Currently, freight trains traveling in the opposite direction as part of China-Europe cargo transportation connect Manzhouli with more than 60 cities in the country, including Harbin, Shenyang, Xi’an, Nanjing, Zhengzhou, Changsha and Chengdu. The range of products imported to China through the checkpoint includes essential goods, equipment, metals, agricultural products, timber, etc. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Delegation of the Chinese Society for the Study of Human Rights visited Greece

    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

    ATHENS, June 28 (Xinhua) — A delegation led by Baima Chilin, president of the China Society for Human Rights Studies, concluded a three-day visit to Greece on Friday to strengthen exchanges and mutual learning.

    During the visit, which took place from June 25 to 27, Baima Chilin attended an international symposium on human rights wisdom in classical civilizations and met with former Greek Foreign Minister, independent expert on international order of the UN Human Rights Council Giorgos Katrougalos and former Ambassador to China, President of the Greek-Chinese Association Ioannis Theofanopoulos.

    The Chinese delegation gave a detailed presentation of China’s view on human rights governance and outlined the development path of human rights in China and the achievements in this field in Xi Jinping, China.

    The two sides held in-depth discussions on expanding exchanges and mutual learning between Chinese and Greek civilizations and improving global human rights governance. They also expressed their willingness to play an active role in promoting exchanges and mutual understanding between China and Europe on human rights. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: US to End All Trade Talks with Canada – D. Trump

    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

    NEW YORK, June 27 (Xinhua) — U.S. President Donald Trump announced on Friday that the United States will halt all trade talks with Canada over Ottawa’s plan to impose a digital services tax on American tech companies.

    On his Truth Social page, the American leader wrote that Canada had just announced a digital services tax on American tech companies, which is a direct and blatant attack on the United States.

    “Based on this outrageous tax, we are ending all trade discussions with Canada, effective immediately,” Trump said.

    He said the United States would notify Canada within the next seven days of the amount of duties it would have to pay for doing business with the United States.

    Canada is copying the actions of the European Union by introducing a tax on digital services, D. Trump noted.

    The United States is trying to complete trade talks with a number of trading partners as the government’s July 9 deadline approaches.

    However, White House Press Secretary Caroline Leavitt said on Thursday that Trump might push back the deadline. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Exclusive: Belt and Road Initiative Opens Unprecedented Opportunities for Development – Uzbek Economist

    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

    Tashkent, June 28 /Xinhua/ — The Belt and Road Initiative has opened up unprecedented development opportunities for Uzbekistan, said Aizhan Djumanova, a professor at Tashkent State Transport University and a PhD in economics, in an exclusive interview with Xinhua.

    According to her, since Uzbekistan joined the joint construction of the Belt and Road, Uzbek-Chinese cooperation has gone far beyond traditional trade and covered such areas as infrastructure construction, industrial cooperation, development of interconnectivity, humanitarian exchanges and other areas, forming a high-quality, multi-level and multi-sectoral partnership model.

    “The successes in the area of infrastructure are especially noticeable,” A. Djumanova noted. Joint construction of roads and railways, creation of modern logistics hubs and industrial parks within the framework of the “Belt and Road” contribute to strengthening the regional interconnectedness of Uzbekistan and increasing the efficiency of transport and logistics flows. The consistent promotion of the China-Kyrgyzstan-Uzbekistan railway project clearly demonstrates the strategic potential of Central Asia as a transit corridor between the East and West of Eurasia, the expert said.

    In the area of industrial development, in her opinion, Chinese technologies, investments and management experience successfully compensate for the weaknesses of Uzbekistan’s industrial base. “Projects with the participation of Chinese capital in such sectors as solar, wind and hydropower, agricultural processing, electric vehicles, contribute to the modernization of the structure of our economy, create jobs and support the green transition and energy diversity,” she emphasized.

    The expert also noted that at the regional level, the Belt and Road Initiative has become a stable and mutually beneficial platform for the development of Central Asian countries. According to her, thanks to Chinese initiatives, there is increasingly closer policy coordination, growing market connectivity, and the institutionalization of cross-border projects and dialogue on regional governance. The agency’s interlocutor added that the creation of the China-Central Asia mechanism was a logical continuation and confirmation of the maturity of this cooperation.

    “Looking to the future with optimism, we are convinced that cooperation between Uzbekistan and China, as well as between the Central Asian countries and China under the auspices of the Belt and Road Initiative, will only deepen,” said A. Djumanova. According to her, this is not just a set of short-term projects, but a strategic partnership based on a common vision of development and high-quality standards. “Uzbekistan, as before, will firmly support and actively participate in this cooperation, which brings hope to the entire region,” the expert concluded. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: 154th Joint Patrol of Mekong River Concluded

    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

    KUNMING, June 28 (Xinhua) — The 154th joint patrol of the Mekong River by China, Laos, Myanmar and Thailand concluded on Friday with two Chinese ships returning to the ports of Jingha and Guanlei in southwest Yunnan Province.

    The 4-day patrol involved 6 vessels and about 200 law enforcement officers from these countries. During the patrol, a distance of 600 km was covered.

    The focus of the patrol mission, which coincided with the International Day against Drug Abuse and Illicit Trafficking, was to curb drug-related crime to ensure security and stability along the river.

    Law enforcement officers carried out various preventive campaigns in coastal villages, schools and businesses, distributing more than 1,000 anti-drug leaflets and 4,000 educational materials.

    Joint patrols of the Mekong involving the four countries have been underway since December 2011. On October 5 that year, a gang of criminals hijacked two cargo ships and killed 13 Chinese sailors in Thai waters.

    The Mekong is the largest river in Southeast Asia. It flows through China /called Lancangjiang/, Laos, Myanmar, Thailand, Cambodia and Vietnam. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Extreme weather events are increasingly common in China

    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, June 28 (Xinhua) — China is becoming increasingly vulnerable to global climate change, increasingly exposed to intense extreme weather events, according to a blue book released by the National Meteorological Administration on Friday.

    Since the 1990s, China has warmed faster than the global average, with average annual temperatures and sea levels in coastal areas reaching record highs in 2024, according to the China Climate Change Blue Book.

    Due to the effects of climate change, the country experienced more extreme heat waves and heavy rainfall between 1961 and 2024.

    Overall sea levels along China’s coast are rising at an ever-increasing rate, and glaciers in western China are melting at an ever-increasing rate.

    Due to ongoing global warming, in 2024 the world’s average surface temperature will reach its highest level since meteorological records began in 1850.

    Xiao Chang, deputy director of the National Climate Center, said the temperature rise should be attributed to human activities, primarily greenhouse gas emissions, as well as natural changes in climate systems such as the El Niño weather phenomenon. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes the 2025 Article IV Consultation and Completes the Fifth Review Under the Extended Credit Facility Arrangement, and Second Review Under the Resilience and Sustainability Facility Arrangement with Tanzania

    Source: IMF – News in Russian

    June 27, 2025

    • The IMF Executive Board today concluded the 2025 Article IV Consultation and completed the fifth review under the Extended Credit Facility (ECF) arrangement and the second review under the Resilience and Sustainability Facility (RSF) arrangement with Tanzania, allowing for an immediate disbursement of about US$ 448.4 million (SDR 326.47 million) under both the ECF and the RSF.
    • Economic conditions have continued to improve, with robust growth and macro-financial stability. Real GDP growth was 5.5 percent in CY24 and is projected to reach 6.0 percent in CY25 and 6½ percent over the medium-term, contingent on decisive reform implementation.
    • Tanzania’s economic reform program supported by the ECF arrangement remained broadly on track. The authorities are committed to implementing reforms to preserve macro-financial stability, promote sustainable and inclusive growth, advance structural reforms, and address risks and challenges from climate change, supported by the ECF and RSF arrangements.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded today the 2025 Article IV Consultation[1] with Tanzania and completed the fifth review of the Extended Credit Facility (ECF) arrangement and the second review of the Resilience and Sustainability Framework (RSF) arrangement. The authorities have consented to the publication of the Staff Report prepared for this consultation.[2] Completion of the fifth ECF review allows for the immediate disbursement of about US$ 155.7 million (28.5 percent of quota, SDR 113.37 million), bringing Tanzania’s total access under the ECF arrangement to about US$ 908.3 million. Completion of the second RSF review allows for the immediate disbursement of about US$ 292.7 million (53.5 percent of quota, SDR 213.1 million), bringing Tanzania’s total access under the RSF arrangement to about US$ 345.4 million.

    The 40-month ECF Arrangement with Tanzania for a total access of about US$ 1,046.4 million at the time of program approval (200 percent of quota, SDR 795.58 million) was initially approved in July 2022, and was extended by 6 months in June 2024. The arrangement aims to support economic recovery, preserve macro-financial stability, and promote sustainable and inclusive growth. The 23-month RSF arrangement with Tanzania, approved in June 2024 (150 percent of quota), supports the authorities’ reforms to reduce prospective balance of payments risks and enhance economic resilience to climate change.

    Tanzania’s economic reform program under the ECF arrangement remained on track. All end-December 2024 quantitative performance criteria and indicative targets were met, and two end-December 2024 structural benchmarks were completed on time. Two of the three end-March SBs were implemented with delay, but the Secured Transaction Act has not been implemented and is reset to end-February 2026. All five reform measures (RMs) for this review were implemented despite challenges in meeting indicative timelines.

    Economic activity continued to gain momentum, with real GDP growth reaching 5.5 percent in CY24. Headline inflation remained stable at 3.2 percent (year-on-year) in April 2025, below the central bank’s target, while a neutral or mildly stimulative monetary policy was maintained and exchange rate flexibility increased. The banking sector remains resilient, but pockets of vulnerability persist. The fiscal balance weakened markedly in the third quarter of FY25, prompting the authorities to delay lower priority spending in the fourth quarter. The current account deficit narrowed further to 2.6 percent of GDP in CY24, from 3.8 percent in CY23, underpinned by strong export performance.

    The medium-term outlook is favorable, contingent on sustained reform implementation, particularly to strengthen the business environment and support a more dynamic private sector. However, risks to the outlook are tilted to the downside, and challenges to meet SDG targets and reduce poverty are daunting, especially considering that the population is expected to double by 2050.

    Following the Executive Board discussion, Mr. Okamura, Deputy Managing Director and Acting Chair, issued the following statement:

    “Tanzania’s reform program supported by the Extended Credit Facility (ECF) remains broadly on track. Amid downside risks to the economic outlook and daunting challenges to reduce poverty, the authorities’ strong commitment to reform implementation, as well as continued engagement and capacity support by development partners, are critical.

    “The authorities’ plan to resume growth-friendly fiscal consolidation in FY25/26 is welcome and will require steadfast implementation of revenue measures and strict cash management and commitment controls to ensure that spending is consistent with revenue outturns. Implementing contingency measures would also be essential to compensate for any budget over-run in FY24/25. In the medium term, decisive implementation of fiscal reforms including the new medium-term revenue strategy and public financial management reforms will be important to meet development needs while maintaining debt sustainability.

    “Continued efforts are needed to fully operationalize the new interest rate-based monetary policy framework. Monetary operations could be strengthened by improving liquidity forecasting capacity and operation of standing facilities and addressing segmentation and counterparty credit risk in the interbank cash market. The recent increase in exchange rate flexibility is welcome and should continue to be a key pillar of the new monetary policy framework. Ongoing efforts to upgrade financial supervision will help enhance financial stability and deepening.

    “Amid strong demographic pressures, achieving resilient and inclusive long-term growth requires accelerated human capital development through increased and more efficient public spending on education and health. At the same time, structural reforms in the areas of public sector governance, business regulation, and access to finance, as well as climate change-related reforms, are critical to foster private sector development and job creation, enhance economic resilience and reduce prospective balance of payments risks.”

    Executive Board Assessment[3]

    Executive Directors agreed with the thrust of the staff appraisal. They welcomed Tanzania’s continued robust growth, subdued inflation, and improved external balance. While they agreed that the medium-term outlook is favorable, they noted downside risks, including from an uncertain external environment, declining aid flows, and potential delays in reform implementation. They emphasized that the authorities’ commitment to reforms under the ECF and RSF programs will be critical to safeguard macro financial stability and achieve more resilient and inclusive long-term growth. Continued engagement and capacity development support by the Fund and other international partners also remain essential.

    Directors welcomed the authorities’ commitment to resume growth friendly fiscal consolidation in FY25/26. They concurred that stepped-up efforts to enhance domestic revenue mobilization in line with the recently approved medium term revenue strategy, and to strengthen public financial and investment management, will be critical to create space for priority development needs and safeguard debt sustainability. They called for prudent budget execution in an election year and enforcement of commitment controls to control spending. They welcomed the continued progress in reducing domestic arrears.

    Directors agreed that a neutral or mildly stimulative monetary policy stance remains appropriate at this juncture but encouraged the authorities to stand ready to adjust this stance if inflation pressures emerge. They called for continued efforts to improve monetary policy effectiveness, including strengthening monetary and liquidity management operations, policy communication, and central bank independence. They underscored the importance of greater exchange rate flexibility for cushioning the economy against external shocks and encouraged the removal of legacy exchange rate restrictions and Multiple Currency Practices. They welcomed the recent adoption of Basel II & III supervisory and regulatory standards and encouraged the authorities to continue upgrading the financial supervision framework and closely monitoring risks.

    Directors called for accelerated structural reforms to promote sustainable private sector led growth and job creation. They urged the authorities to improve the efficiency of tax administration, ease the regulatory burden, promote access to finance, close gender gaps, and upgrade infrastructure. They also highlighted the pressing need to increase human capital through increased and more efficient public spending on education and health, as well as on social safety nets. Directors commended the authorities’ efforts to strengthen the AML/CFT framework and encouraged them to formalize risk-based AML/CFT supervision in the real estate sector. They welcomed the progress made in strengthening climate resilience through the RSF supported reforms.

    It is expected that the next Article IV consultation with Tanzania will be held in accordance with the Executive Board decision on consultation cycles for members with Fund arrangements.

    Tanzania: Selected Economic Indicators

    2022/23

    2023/24

    2024/25

    Act.

    Est.

    Proj.

    Output

    Real GDP growth (%) 1

    4.9

    5.3

    5.7

    Calendar year real GDP growth (%) 2

    5.1

    5.5

    6.0

    Prices

    Inflation – average (%)

    4.6

    3.1

    3.3

    Central government finances

    Revenue (% GDP) 3

    15.0

    15.5

    16.3

    Expenditure (% GDP)

    19.3

    18.6

    19.7

    Fiscal balance (% GDP)

    -4.3

    -3.2

    -3.4

    Public debt (% GDP)

    45.9

    49.2

    48.5

    Money and credit

    Broad money (% change)

    18.8

    10.9

    11.1

    Credit to private sector (% change)

    22.2

    16.1

    12.5

    3-month Treasury bill interest rate (%)

    6.5

    6.8

    …

    Balance of payments

    Current account (% GDP)

    -6.6

    -3.5

    -2.6

    FDI (% GDP)

    2.0

    2.1

    2.1

    Reserves (in months of imports)

    4.0

    3.8

    3.8

    External public debt (% GDP)

    29.7

    32.9

    32.8

    Exchange rate

    REER (% change)

    3.3

    -10.3

    …

    Sources: Tanzanian authorities and IMF staff estimates and projections.

    1 All data refer to fiscal years (July-June).

    2 Fiscal year 2022/23 corresponds to calendar year 2023.

    3 Includes grants.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. Staff hold separate annual discussions with the regional institutions responsible for common policies in four currency unions—the Euro Area, the Eastern Caribbean Currency Union, the Central African Economic and Monetary Union, and the West African Economic and Monetary Union. For each of the currency unions, staff teams visit the regional institutions responsible for common policies in the currency union, collects economic and financial information, and discusses with officials the currency union’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis of discussion by the Executive Board. Both staff’s discussions with the regional institutions and the Board discussion of the annual staff report will be considered an integral part of the Article IV consultation with each member.

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

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Kwabena Akuamoah-Boateng

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

    https://www.imf.org/en/News/Articles/2025/06/27/pr25225-tanzania-imf-concl-2025-aiv-consultation-comp-5th-rev-ecf-arr-2nd-rev-rsf-arrangement

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: For two years now, unique electric river vessels — unmatched anywhere else in the world — have been operating in Moscow.

    Since the launch of these river routes, regular passenger services have transformed the Moskva River into a fully-fledged transport artery for the city.

    Trips on these electric vessels are included in the Ediny (Unified) travel passes for 30, 90, and 365 days. Two years after the launch of regular electric river transport, residents of the capital now have the opportunity to:

    Use three year-round river routes with a total length of 29 km

    Quickly and conveniently cross to the opposite bank of the Moskva River thanks to the electric vessels

    Moreover, the launch created 350 new jobs, and the Moskva River has become much safer. Thanks to regular patrols, crews can promptly spot people who end up in the water — and they have already saved four lives.

    On June 20, Moscow Mayor Sergey Sobyanin opened the third route of the regular electric river transport, Novospasskiy — ZIL, improving transport accessibility for more than 55,000 Muscovites living in four districts. The ZIL pier is now the terminal stop for two lines at once, allowing passengers to travel from Pechatniki to Novospasskiy on the most innovative type of urban transport in the capital, — said Maksim Liksutov.

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV consultation and First Review Under the Extended Fund Facility for El Salvador

    Source: IMF – News in Russian

    June 27, 2025

    • The IMF Executive Board concluded El Salvador’s 2025 Article IV consultation and completed the first review of the Extended Fund Facility (EFF) arrangement, allowing for an immediate disbursement of SDR 86.16 million (about US$118 million).
    • Program performance has been solid, with the economy continuing to expand as macroeconomic imbalances are being addressed.
    • Key fiscal and international reserve targets were met with margins and progress continues with the ambitious reform agenda in the areas of governance, transparency, and financial resilience.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded El Salvador’s 2025 Article IV consultation[1] and completed the first review of the Extended Fund Facility (EFF) arrangement. Completion of this review allows immediate disbursement of SDR 86.16 million (about US$118 million), bringing total disbursements under this arrangement to SDR 172.32 million (about US$231 million). The authorities have consented to the publication of this Staff Report.[2]

    El Salvador’s 40-month EFF arrangement was approved by the Executive Board on February 26, 2025, with total access of SDR 1,033.92 million (about US$1.4 billion or 360 percent of quota). The program remains focused on strengthening public finances, rebuilding external and financial buffers, and enhancing governance and transparency frameworks to create the conditions for stronger and more resilient growth.

    Program performance has been solid, with the economy continuing to expand as macroeconomic imbalances are being addressed. Key fiscal and international reserve targets were met with margins and progress continues with the ambitious reform agenda in the areas of governance, transparency, and financial resilience. Specifically, in the context of the first review, (i) a new Fiscal Sustainability Law has been enacted; (ii) a presidential decree limiting exceptions to the Procurement Law has been issued; (iii) financial information on the largest state-owned enterprises has been published; and (iv) information on public contracts has been made more accessible. Steps continue to be taken to mitigate Bitcoin associated risks and unwind the public sector’s participation in Chivo.

    The 2025 Article IV consultation focused on policies to boost medium-term growth and resilience. Special attention was given to policies to support foreign direct investment, employment and exports, while considering the implications of a more challenging external backdrop.

    Following the Executive Board discussion on El Salvador, Mr. Nigel Clarke, Deputy Managing Director and Acting Chair, issued the following statement:

    “El Salvador’s economic program, supported by the Extended Fund Facility arrangement, had an auspicious start. Notably, the economy continues to expand, inflation has further moderated, and the current account deficit has narrowed amid efforts to address macroeconomic imbalances. Fiscal consolidation remains on track, external and financial buffers are being rebuilt, and governance and transparency reforms are proceeding in line with program commitments. In light of rising external risks, agile policy making and contingency planning remain essential to protect program objectives, including in the context of the dollarization regime.

    “Efforts to strengthen public finances must continue, especially through a further rationalization of the wage bill and other current spending. Beyond this year, comprehensive reforms to the civil service and pension reforms are needed to safeguard fiscal consolidation and protect priority social and infrastructure spending. Meanwhile, continued efforts to mobilize official support will help further reduce reliance on bank and pension fund financing and support private sector credit.

    “Sustained efforts are needed to rebuild financial sector buffers and enhance oversight and regulation. The steady implementation of the planned increases in banks’ reserve requirements and liquidity buffers is critical to enhancing resilience and preserving financial stability. These efforts should be complemented by enhancements in the oversight of banks as well as nonbank financial institutions.

    “Steps to strengthen governance and transparency must continue. A consistent and evenhanded application of the new Anti-Corruption Law remains critical, alongside efforts to reinforce the AML/CFT framework in line with international best practices. Boosting confidence and investment requires elevating standards of fiscal reporting and transparency about public contracts, and improved access to public information. Focused efforts should be considered to support foreign direct investment and address infrastructure gaps, including through well-designed public-private partnerships and investor protection schemes.

    “Bitcoin risks should continue to be mitigated. An early unwinding of the public sector’s participation in the government’s e-wallet (Chivo) remains critical, and efforts should continue to keep the public sector’s holdings of Bitcoin unchanged, and to improve the oversight of crypto assets to enhance consumer and investor protection.”

    Executive Board Assessment[3]

    Executive Directors agreed with the thrust of the staff appraisal. They commended the Salvadoran authorities for the strong ownership and satisfactory performance under the Fund‑supported program and welcomed the continued efforts to address macroeconomic imbalances. Directors noted, however, downside risks related to escalating global trade tensions and tighter immigration policies elsewhere, which could negatively impact remittances and growth. Against this backdrop, Directors emphasized the importance of sustaining the reform momentum to safeguard macroeconomic stability and durably address El Salvador’s longstanding structural challenges and encouraged the authorities to stand ready to activate contingency plans as needed.

    Directors underscored the need to sustain fiscal consolidation by further rationalizing the wage bill and containing current expenditures to secure space for priority social and infrastructure spending and put debt firmly on a downward trajectory. They concurred that contingency measures to broaden tax revenues and streamline tax expenditures could also be considered. Directors welcomed the new Fiscal Responsibility Law and agreed that developing and implementing civil service and pension reforms and further strengthening public financial management are essential to underpin the fiscal adjustment over the medium term. Continuing to mobilize official external support would help reduce reliance on bank and pension fund financing and support private sector credit.

    While noting that the financial system remains sound, Directors emphasized the importance of further rebuilding financial sector buffers and strengthening oversight and regulation. They agreed that implementing the new Financial Stability Law and improving the supervision and governance of nonbank financial institutions in line with best practices are also key. Directors encouraged mitigating risks from the use of Bitcoin and boosting the oversight of crypto assets. They stressed the need to unwind the public sector’s participation in the government e‑wallet (Chivo) and to not increase overall Bitcoin holdings by the public sector and underscored the importance of clear and consistent communication in this regard. Directors also emphasized the need to enhance the autonomy of the central bank and strengthen its capital position and boost international reserves.

    Directors underscored the importance of advancing structural reforms to unlock El Salvador’s growth potential. They recommended further strengthening governance and transparency and, in this regard, encouraged enhancing the AML/CFT framework in line with FATF recommendations, securing the consistent and evenhanded application of the new anti‑corruption framework, and strengthening the transparency of public information, including in the procurement process. Noting that the improvements in domestic security offer a unique opportunity to further boost growth, Directors welcomed the authorities’ Long‑term Growth Strategy and encouraged reforms to raise productivity, improve the investment climate, and enhance financial inclusion. They welcomed ongoing efforts to reduce red tape and logistics costs, as well as plans to address large infrastructure and human capital gaps, with support of the private sector. Directors also encouraged strengthening resilience to climate‑related shocks.

    It is expected that the next Article IV consultation with El Salvador will be held in accordance with the Executive Board decision on consultation cycles for members with Fund arrangements.

    Table 1. El Salvador: Selected Economic Indicators

    I. Social Indicators

    Rank in UNDP Development Index 2021 (of 189)

    125

    		  

    Population (million, 2022)

    6.3

    Per capita income (U.S. dollars, 2022)

    5,366

    Life expectancy at birth in years (2021)

    71

    Percent of pop. below poverty line (2021)

    24.6

    		  

    Gini index (2019)

    		  

    39
                   

    II. Economic Indicators (percent of GDP, unless otherwise indicated)

    2020

    2021

    2022

    2023

    2024

    (Est.)

    2025

    (Proj.)

    2026

    (Proj.)

    Income and Prices

    		              

    Real GDP growth (percent)

    -7.9

    11.9

    2.9

    3.5

    2.6

    2.5

    2.5

    Consumer price inflation (average, percent)

    -0.4

    3.5

    7.2

    4.0

    0.9

    1.0

    1.8

    GDP Deflator (percent)

    0.7

    4.1

    6.6

    2.6

    1.8

    0.8

    2.2
                   

    Money and Credit

    		              

    Credit to the private sector

    65.3

    61.1

    62.6

    61.9

    62.5

    66.1

    69.1

    Broad money

    69.4

    60.9

    58.0

    59.5

    58.8

    59.1

    58.1

    Interest rate (time deposits, percent)

    4.2

    4.1

    4.5

    5.3

    5.6

    …

    …
                   

    External Sector

    		              

    Current account balance 

    1.1

    -4.3

    -6.7

    -1.1

    -1.8

    -0.8

    -2.1

    Trade balance

    -20.2

    -27.3

    -30.0

    -26.2

    -26.9

    -27.0

    -26.0

    Transfers (net)

    24.0

    26.1

    24.5

    24.2

    23.7

    25.2

    23.0

    Foreign direct investment (net)

    0.0

    -1.3

    -0.4

    -2.0

    -1.8

    -2.1

    -2.3

    Gross international reserves (mill. of US$)

    3,083

    3,426

    2,696

    3,081

    3,706

    4,252

    4,762
                   

    Nonfinancial Public Sector

    		              

    Overall balance

    -8.2

    -5.5

    -2.7

    -4.7

    -4.5

    -3.0

    -2.1

    Primary balance

    -3.8

    -1.0

    2.0

    -0.1

    0.0

    1.9

    2.9

    Of which: tax revenue

    18.3

    19.9

    20.1

    19.8

    20.6

    21.2

    21.2

    Gross debt 1/

    95.4

    88.0

    83.7

    85.1

    87.5

    88.0

    86.6
                   

    National Savings and Investment

    		              

    Gross capital formation

    17.2

    23.4

    24.5

    20.7

    20.3

    22.0

    21.6

    Private fixed investment 2/

    14.7

    21.0

    19.3

    18.8

    19.4

    19.7

    19.7

    National savings

    18.3

    19.0

    17.7

    19.6

    18.6

    21.1

    19.5

    Private sector

    23.9

    21.4

    18.3

    20.4

    19.4

    20.9

    18.4
                   

    Net Foreign Assets of the Financial System

    		              

    Millions of U.S. dollars

    3,618

    3,022

    1,488

    1,565

    2,298

    2,442

    2,730
                   

    Memorandum Items

    		              

    Nominal GDP (billions of US$)

    24.9

    29.0

    31.9

    33.9

    35.4

    36.5

    38.3
                   

    Sources: Central Reserve Bank of El Salvador, Ministry of Finance, and IMF staff estimates.

    1/ Nonfinancial public sector, including CIP-A pension bonds.

    2/ Excludes changes in inventories.

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

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

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Brian Walker

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

    https://www.imf.org/en/News/Articles/2025/06/27/imf-concludes-2025-article-iv-consultation-and-first-review-under-the-eff-for-el-salvador

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes Fifth Review Under the Policy Coordination Instrument (PCI) and the Third Review Under the Arrangement Under the Resilience and Sustainability Facility of Paraguay

    Source: IMF – News in Russian

    June 27, 2025

    • On June 27, 2025, the IMF Executive Board concluded the fifth review under the Policy Coordination Instrument (PCI) and the third review under the Resilience and Sustainability Facility (RSF) arrangement.
    • The Paraguayan economy remains robust underpinned by buoyant domestic demand. Staying the course with the fiscal consolidation plan and structural reforms will be critical to preserve macroeconomic stability.
    • Program performance under the PCI and RSF remains very satisfactory, underpinned by a strong commitment to pursue prudent macroeconomic policies and structural reforms to enhance the country’s prospects for long-term sustainable and inclusive growth.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) today completed the fifth review under the PCI arrangement and the third review under the RSF arrangement. The completion of the reviews provides the authorities with access to approximately US$ 285 million (SDR 211.46 million) under the RSF, of which the authorities have requested disbursement of US$ 195 million (SDR 146 million).

    The Paraguayan economy remains resilient, with real GDP growing 4.2 percent in 2024. Buoyant private consumption and gross fixed capital formation outweighed a negative contribution from net exports owing mainly to lower electricity production and exports. Economic activity continued its strong momentum in early 2025 with real GDP expected to expand 3.8 percent this year. Headline inflation remains contained within the central bank’s tolerance range.

    Fiscal consolidation is progressing, with the fiscal deficit falling to 2.6 percent of GDP in 2024, down from 4.1 percent in 2023, supported by a substantial increase in tax revenue. The fiscal deficit is projected to decline further to 1.9 percent of GDP in 2025. The current account deficit widened to 3.7 percent of GDP in 2024, from 0.4 percent in 2023, primarily due to lower export revenues, driven in large part by lower soybean prices and a drop in hydroelectricity exports because of low river water levels. Foreign reserves remain comfortably above standard adequacy metrics.

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

    “The Paraguayan economy remains resilient, owing to its strong macroeconomic fundamentals and the authorities’ continued prudent macroeconomic management. The outlook is favorable, with growth expected to remain robust, but is subject to elevated global risks and to adverse weather shocks. Against this backdrop, staying the course with prudent macroeconomic management continues to serve as a cornerstone of macroeconomic stability.

    “With inflation contained within the central bank’s tolerance range, monetary policy should remain data driven. The exchange rate should continue to serve as a shock absorber. The banking sector is well capitalized, liquid, and profitable, and the authorities plan to deepen and modernize capital markets. Further strengthening AML/CFT frameworks, including by promptly finalizing the National Risk Assessment, is essential.

    “The authorities remain resolute in advancing the fiscal consolidation plan, aiming to reduce the deficit to 1.5 percent of GDP by 2026—the ceiling established by the Fiscal Responsibility Law. Efforts to bolster tax revenues and improve the efficiency of public expenditure should continue to support fiscal consolidation goals.

    “Addressing the sustainability of the public employees’ pension fund is essential to mitigate medium-term fiscal risks. The overall risk of sovereign stress is low, and ongoing efforts to gradually decrease the proportion of debt denominated in foreign currency would help further strengthen the risk profile of public debt.

    “Policy reforms under the Policy Coordination Instrument and the Resilience and Sustainability Facility are further strengthening macroeconomic stability and resilience. Sustained progress on the reform agenda—including continuing efforts to reduce informality, strengthen governance and anti-corruption frameworks, and enhance resilience to natural disasters—will further improve the business environment, boost Paraguay’s appeal as an investment destination, and reinforce macroeconomic stability.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

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

    https://www.imf.org/en/News/Articles/2025/06/27/pr-25224-paraguay-imf-concludes-5th-rev-under-pci-and-3rd-rev-under-rsf

    MIL OSI

    MIL OSI Russia News –

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

    Source: IMF – News in Russian

    June 27, 2025

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

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

    Washington, DC: An International Monetary Fund (IMF) staff mission, led by Mr. Tahsin Saadi Sedik, conducted discussions as part of the 2025 Article IV consultation with the Mongolian authorities in Ulaanbaatar during June 4–18, 2025. At the end of the visit, the mission issued the following statement, summarizing its key findings and recommendations.

    • During 2023‒24, record-high coal exports and increased government spending led to buoyant economic activity, which, along with fiscal surpluses and successful debt rollovers, also helped reduce vulnerabilities.
    • The resource boom is weakening amid rising risks. With coal exports declining in recent months, mainly due to falling prices, and increased global uncertainty, the near-term outlook has become less favorable, and downside risks have increased amid limited policy buffers.
    • The policy priority is to increase resilience of the Mongolian economy to downside risks by restoring both internal and external balances, and by preserving buffers. This requires greater fiscal prudence and adherence to fiscal rules, tight monetary and macroprudential policies, and increased exchange rate flexibility.
    • Should downside risks materialize, significant and timely policy adjustments—particularly fiscal tightening—will be required to safeguard macroeconomic and financial stability.

    Recent economic developments, outlook, and risks

    Since the 2023 Article IV consultation, Mongolia’s macroeconomic conditions have improved. A resource-driven boom during 2023‒24 led to buoyant economic activity, despite a sharp contraction in the agriculture sector. Budget revenues from the mining sector more than doubled, enabling fiscal surpluses and contributing to the accumulation of foreign exchange reserves and savings in the sovereign wealth fund despite a significant increase in public spending, which together with debt repayments helped reduce debt-to-GDP ratio from 64.5 percent in 2022 to 44.5 percent in 2024 (IMF staff definition). Rating agencies have upgraded Mongolia’s sovereign credit rating to B+/B2, and its sovereign spread narrowed to historically low levels before the volatility spiked amid global trade tensions. The IMF staff’s Sovereign Risk and Debt Sustainability Framework (SRDSF) indicates a moderate risk rating compared to the high-risk rating in the 2023 SRDSF. However, the sharp increase in public spending in 2023-24, including wages and capital expenditures, resulted in a highly expansionary fiscal policy stance, which together with the policy rate cuts, despite the tightening of reserve requirements, fueled rapid credit growth and inflation pressures, and led to a surge in imports and a shift in the current account from surplus to deficit in 2024.

    In early 2025, the commodity boom began to lose momentum, and the outlook has weakened amid rising downside risks. Mongolia’s coal export receipts declined sharply, mainly due to falling prices, resulting in a sizeable shortfall in budget revenues and a further widening of the current account deficit, which led to a reduction in foreign exchange reserves and increased depreciation. Credit growth and inflation remain high despite some recent moderation, with inflation standing above the Bank of Mongolia (BOM)’s target band.

    Policies to Navigate a Weaker Outlook and Increased Risks 

    Fiscal policy

    Greater fiscal prudence and adherence to the fiscal rules are critical to restoring external and internal balances and preserving fiscal buffers. Despite the decline in revenues, the authorities plan to meet the structural fiscal balance target envisaged in the 2025 Budget and the recently approved medium-term fiscal framework through expenditure restraint. To achieve this objective, the government needs to articulate detailed and credible measures. It is critical that these measures safeguard social spending to protect the most vulnerable. Should downside risks materialize, an ambitious consolidation strategy would be needed to preserve macroeconomic stability. To ensure the credibility of fiscal rules as a policy anchor, compliance with the rules will be critical. In particular, large investment projects should be implemented within the fiscal deficit and debt rules, as defined in the Fiscal Stability Law.

    As a priority, the tax package currently under discussion should be reconsidered. While the package includes several positive elements, such as modernizing the tax administration, broadening VAT base, introducing digital service tax and strengthening progressive tax structure, it would result in a substantial and permanent reduction in non-mining tax revenues. This would increase the overall deficit, reduce the government’s fiscal space to implement critically needed development projects, and hinder compliance with fiscal rules, while also increasing the budget’s vulnerability to volatile mining revenues. In addition, some elements of the tax package need to be further refined to align with international best practices. The package also includes some measures, such as a progressive VAT, for which Mongolia’s tax administration is not yet prepared. Instead, reform efforts should focus on strengthening non-mining revenue mobilization by streamlining tax incentives, collecting tax arrears, and implementing tax and customs administration reforms.

    Further reforms are needed to mitigate fiscal risks. Efforts should focus on improving the targeting of social assistance, which would help address the perceived inequitable distribution of mining wealth. Implementation of mega projects should be prioritized according to the availability of external financing and the economy’s absorptive capacity. Coordination with subnational entities needs to be strengthened to ensure fiscal discipline of the general government. Legal frameworks governing state-owned enterprises (SOEs) and public-private partnerships should be enhanced. Building on recent efforts, the Ministry of Finance’s capacity to monitor and mitigate related fiscal risks should be further strengthened. The Development Bank of Mongolia’s long-standing balance-sheet and governance issues need to be addressed promptly. Expanding domestic debt issuance is critical to establishing a benchmark yield curve to help develop domestic markets and to reduce Mongolia’s reliance on external borrowing.

    Monetary and Exchange Rate Policies

    Domestic financial conditions should remain tight to contain credit growth and inflation. Despite the policy rate hike in early 2025 and some moderation in recent months, inflation is expected to stay above the BOM’s target band over 2025–26. A further rate increase may be warranted if the recent decline in inflation reverses, including through exchange rate depreciation. At the same time, there is scope to recalibrate reserve requirements. Excessive reliance on reserve requirements may incentivize banks to seek external funds with more than one year maturity, which are excluded from these requirements, thus increasing the BOM’s exposure to exchange rate risks through its foreign exchange swaps with banks.

    Greater exchange rate flexibility would strengthen Mongolia’s resilience to external shocks. The BOM should pursue opportunistic accumulation of reserves when market conditions allow. The BOM should support a more effective exchange rate price-discovery mechanism by gradually reducing its role as an intermediary and structural provider of FX to the market. In addition, the BOM should support the development of domestic FX derivatives markets and phase out its role as the dominant provider of FX hedging instruments to banks.

    Reforms to strengthen the BOM’s effectiveness should be accelerated. As a priority, the BOM should fully withdraw from subsidized mortgage program, which undermines the transmission of monetary policy and jeopardizes the independence of the central bank. The government should expedite the transfer of the BOM’s subsidized mortgage program and relieve the BOM of its obligation to channel the newly established Savings Fund toward the expansion of the mortgage program. Moreover, the proposed amendments to the central bank law, aimed at strengthening the BOM’s mandate, as well as the operational autonomy, and governance, should be finalized and submitted to Parliament. Furthermore, the Ministry of Finance and the BOM need to agree on a memorandum of understanding that outlines a gradual recapitalization strategy for the BOM that is consistent with fiscal sustainability.

    Macroprudential and Financial Sector Policies

    Macroprudential frameworks and financial oversight should be strengthened to mitigate financial stability risks, including rapid credit growth. The recent tightening of macroprudential measures, including the reduction of Debt-Service-To-Income (DSTI) limits, for banks and non-bank financial institutions (NBFIs) is a welcome development. Further efforts are needed, including aligning the DSTI limit for NBFIs with that of banks and expanding the BOM’s macroprudential toolkit to include countercyclical capital buffers, liquidity coverage ratios, and net stable funding ratios. Macroprudential and monetary policies should be separated in terms of formulation and implementation. The ongoing transition toward a risk-based, forward‑looking supervisory approach is welcome. The interconnections between banks and NBFIs should be closely monitored. Amendments to the BOM and Banking Laws are critical to ensure greater legal protection for supervisors and more effective inter-agency information sharing and coordination. The strengthening of crisis management arrangements and clarifying the resources available for resolutions would also help reduce financial stability risks.  

    Reforms are also needed to enhance the financial sector’s ability to lend to creditworthy entities. The objective is to reduce the cost of lending, especially to small and medium-sized enterprises. This could be done by amending the Credit Information and Insolvency Laws to enable more effective and timely credit assessment and collateral evaluation, and to streamline foreclosure and insolvency processes. In addition, efforts to diversify bank ownership structures should continue, which may require increasing ownership limits, and allowing investment in multiple banks. This should be complemented with effective supervision of complex ownership structures to mitigate the risks associated with connected and related-party lending.  

    Structural Policies

    Further improvements to the business climate and governance that build on recent progress would boost Mongolia’s long-term growth prospects. The substantial state footprint in the economy and frequent regulatory changes dampen private sector initiatives and discourage FDI. Reform efforts should focus on reducing red tape, streamlining licensing procedures, improving tax compliance and land use processes, and ensuring consistent and transparent judicial and regulatory enforcement. Governance in the public sector also requires strengthening. This includes addressing corruption vulnerabilities in revenue institutions, strengthening the transparency and accountability of public procurement and SOEs, and implementing legislative reforms, including the SOE Law and Whistleblower Protection Law. Mongolia has made satisfactory progress in strengthening its anti‑money laundering and counter-financing of terrorism legal framework, though challenges related to effective implementation remain.

    Climate adaptation, mitigation, and green transition will require significant investments and policy reforms. Adaptation actions are needed given increase in the frequency and intensity of natural hazards, such as harsh winters and floods, while mitigation actions are needed to address Mongolia’s high carbon intensity and to reduce air pollution. In addition, preparations are needed to address the expected decline in China’s coal demand as it advances its energy transition and decarbonization agenda. So far, implementation of Mongolia’s climate agenda remains limited. Climate adaptation measures have yet to be fully integrated into sectoral policies and budget processes. Moreover, there is no dedicated climate change law to mandate cross-sectoral coordination. Advancing Mongolia’s climate objectives will require significant financial contributions from both the public and private sectors, underscoring the importance of creating fiscal space.

    The staff team expresses its sincere gratitude to the authorities and to a broad range of public and private sector counterparts for their warm hospitality and for the candid, constructive discussions.

     

    Table 1. Mongolia: Selected Economic and Financial Indicators, 2022-30

     

     

    2022

    		  

    2023

    2024

    		  

    2025

    		  

    2026

    2027

    2028

    2029

    2030

     Actual

    		      

                      Projections

         (In percent of GDP, unless otherwise indicated)

    National Accounts

    		                      

    Real GDP growth (percent change)

    5.0

    7.4

    4.9

    5.5

    5.5

    5.5

    5.3

    5.0

    5.0

    Nominal GDP (in USD million)

    17,146

    20,315

    23,586

    …

    …

    …

    …

    …

    …

    Contributions to Real GDP (ppts)

    Domestic Demand

    11.4

    5.6

    21.2

    6.6

    4.4

    7.1

    7.2

    6.5

    6.2

    Exports of G&S

    13.9

    17.9

    0.5

    4.2

    5.4

    2.8

    2.3

    1.7

    1.8

    Imports of G&S

    -20.3

    -16.2

    -16.8

    -5.3

    -4.2

    -4.4

    -4.2

    -3.3

    -3.0

    Consumption

    65.8

    57.5

    66.1

    		  

    72.1

    72.0

    72.5

    72.5

    73.0

    73.0

      Private

    51.9

    44.5

    49.8

    		  

    55.6

    55.9

    56.6

    56.6

    57.2

    57.3

             Public

    13.9

    13.0

    16.3

    16.5

    16.1

    16.0

    15.9

    15.8

    15.7

    Gross Capital Formation

    42.3

    33.9

    34.6

    32.3

    30.7

    30.7

    30.9

    30.7

    30.4

    Gross Fixed Capital Formation

    29.8

    25.3

    26.8

    24.3

    23.7

    23.7

    23.9

    23.7

    23.4

    Public

    7.1

    7.4

    9.9

    8.3

    8.0

    7.9

    7.8

    7.8

    7.9

    FDI

    14.2

    10.7

    11.6

    9.5

    9.0

    8.8

    8.6

    7.8

    7.7

    Domestic Private (including SOEs)

    8.6

    7.3

    5.3

    6.5

    6.7

    7.0

    7.5

    8.0

    7.8

    Gross national saving

    28.9

    34.5

    24.1

    17.5

    17.6

    17.4

    17.9

    17.8

    17.7

     

    Prices

    Consumer Prices (Avg; percent change)

    15.1

    10.4

    6.2

    8.7

    8.6

    7.9

    7.2

    6.7

    6.4

    Consumer Prices (EoP; percent change)

    13.3

    7.7

    8.3

    9.0

    8.2

    7.5

    6.8

    6.5

    6.2

        Copper prices (US$ per ton)

    8,829

    8,491

    9,142

    8,981

    8,897

    8,983

    9,056

    9,122

    9,167

      Coal prices (US$ per ton)

    123

    131

    107

    68

    73

    72

    72

    72

    72

        GDP deflator (percent change)

    17.7

    21.8

    8.2

    6.1

    8.0

    7.5

    7.3

    6.5

    6.5
                       

    General government accounts 1/

    		                    

    Primary balance (IMF definition)

    2.2

    		  

    4.3

    		  

    2.8

    		  

    1.0

    		  

    0.5

    -1.0

    -0.8

    -0.8

    -0.7

    Total revenue and grants

    34.4

    		  

    34.6

    		  

    39.2

    		  

    35.1

    		  

    33.6

    31.5

    31.2

    31.1

    30.9

    Primary expenditure and net lending

    32.2

    		  

    30.3

    36.5

    34.1

    		  

    33.0

    32.5

    32.1

    31.8

    31.6

    Interest

    1.5

    1.6

    1.5

    1.7

    1.9

    2.1

    2.2

    2.4

    2.5

    Overall balance (IMF definition)

    0.7

    2.7

    1.3

    -0.7

    -1.4

    -3.1

    -3.1

    -3.1

    -3.2

    Non-mineral primary balance (in percent of GDP)

    -6.3

    -5.7

    -8.9

    -7.4

    -8.3

    -9.4

    -9.0

    -8.6

    -8.2

    Gross financing needs

    3.8

    9.0

    4.7

    5.4

    5.6

    7.5

    7.8

    8.6

    11.9

       General government debt 2/

    64.5

    45.9

    44.5

    44.7

    46.8

    49.5

    51.5

    53.0

    53.7

    Domestic

    4.4

    2.6

    3.2

    3.0

    3.0

    3.2

    3.2

    3.4

    3.6

               External

    60.1

    43.3

    41.3

    41.7

    43.8

    46.4

    48.3

    49.6

    50.1

     

    Monetary sector

    Broad money growth (percent change)

    6.5

    26.8

    15.2

    13.4

    12.7

    11.7

    11.8

    14.1

    11.8

    Reserve money growth (percent change)

    39.9

    7.4

    51.9

    0.7

    12.7

    11.7

    11.8

    14.1

    12.7

    Credit growth (percent change)

    8.6

    22.0

    30.9

    25.0

    21.2

    19.5

    17.5

    15.5

    15.5

     

     

    Balance of payments

    		                          

    Current account balance

    -13.4

    0.6

    -10.5

    		  

    -14.8

    -13.1

    -13.3

    -13.0

    -12.9

    -12.7

    Exports of goods

    57.5

    68.5

    62.5

    53.6

    53.5

    51.4

    49.8

    47.9

    46.1

    Imports of goods

    50.3

    46.1

    49.5

    		  

    46.2

    45.1

    44.2

    43.7

    42.9

    41.5

    Gross official reserves (in USD million)

    3,400

    4,922

    5,510

    		  

    4,566

    4,627

    4,669

    4,864

    5,045

    5,212

    (In months of imports)

    3.0

    3.6

    4.0

    		  

    3.2

    3.1

    3.0

    3.0

    3.0

    3.0

    (net of bank’s FX deposits held at the BOM)

    1,949

    3,491

    4,233

    		  

    …

    …

    …

    …

    …

    …

    Net international reserves (NIR) 3/

    -788

    1,152

    1,768

    		  

    …

    …

    …

    …

    …

    …

     

    Exchange rate

    		                    

    Togrog per U.S. dollar (eop)

    3,445

    3,411

    3,420

    …

    …

    …

    …

    …

    …

    Sources: Mongolian authorities; and IMF staff projections.      

    		                        

    1/ These projections were prepared ahead of the supplementary budget for 2025 currently under discussion. They include the tax package approved by the previous

    Cabinet.    
                                                                                                                     

    2/ Includes DBM’s total debt, explicit government’s guarantees to SOE as well as government’s liabilities to BOM related to the TDB settlement regarding Erdenet. Excludes BOM liabilities to PBOC.

    3/ NIR is defined as GIR excl. commercial banks’ and government’s US$ deposits held at the BOM, the PBOC swap line, and liabilities to the IMF.
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

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

    https://www.imf.org/en/News/Articles/2025/06/27/mongolia-staff-concluding-statement-of-the-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: IAEA chief’s push to visit bombed Iranian nuclear sites ‘pointless’: Iranian FM

    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

    TEHRAN, June 27 (Xinhua) — The International Atomic Energy Agency (IAEA) director general’s insistence on visiting Iran’s bombed nuclear facilities is “meaningless,” Iranian Foreign Minister Abbas Araghchi said on Friday.

    The head of the Iranian Foreign Ministry made the corresponding statement in his post on the X social network, accusing IAEA Director General Rafael Grossi of facilitating the adoption of an anti-Iranian resolution by the organization’s Board of Governors and the bombing of Iranian nuclear facilities by the United States and Israel.

    “R. Grossi’s insistence on visiting the bombed Iranian nuclear facilities under the pretext of guarantees is senseless and perhaps even malicious. Iran reserves the right to take any steps to protect its interests, its people and sovereignty,” A. Araghchi said.

    The minister recalled a recent plan approved by the Iranian parliament and later endorsed by the Guardian Council of Iran, which called for an end to Iran’s cooperation with the IAEA. “This is a direct result of the unfortunate role of R. Grossi, who obscured the fact that the agency had settled all issues with Iran ten years ago,” Araghchi added.

    The statement, published on the IAEA website, indicates that on Friday R. Grossi stressed the need to continue the agency’s inspections in Iran, “as provided for in the comprehensive safeguards agreement.” -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Completes the Fifth Review Under the Stand-By Arrangement with Armenia

    Source: IMF – News in Russian

    June 27, 2025

    • The IMF Executive Board completed the fifth review under the Stand-By Arrangement (SBA) with Armenia, providing the country with access equivalent to SDR 18.4 million (about US$26.1 million). The Armenian authorities continue to treat the arrangement as precautionary.
    • Economic activity remains strong. Real GDP growth is expected to reach 4.5 percent in 2025 as external growth drivers continue to taper off amid higher global uncertainty.
    • The SBA aims to support the government’s policy and reform agenda to preserve economic and financial stability and support strong, inclusive, and sustainable growth.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the fifth review under the Stand-By Arrangement (SBA) with Armenia. The completion of the review enables access to an amount equivalent to SDR 18.4 million (about US$26.1 million), bringing total access to the equivalent of SDR 110.4 million (about US$156.9 million). The SBA was approved by the IMF Executive Board on December 12, 2022 (see Press Release No. 22/429). The Armenian authorities continue to treat the arrangement as precautionary. The Executive Board’s decision was taken on a lapse-of-time basis.[1]

    Armenia’s economic activity remains strong. Real GDP growth reached 5.9 percent in 2024 and is expected to return to its long-term trend of 4.5 percent in 2025 as trade and services normalize. Inflation is expected to remain around the Central Bank of Armenia’s (CBA) target by end-2025. Risks to this outlook are elevated, stemming from the unprecedented uncertainty related to the ongoing global trade tensions and potential slowdown in the growth of trading partners. Regional geopolitical shifts, which could lead to a reversal of recent capital inflows and foreign exchange (FX) volatility, also weigh on the outlook.

    The slowdown in external demand, lower remittances inflows, and robust domestic demand, are projected to widen the current account deficit to 4.5 percent of GDP in 2025. Nonetheless, external and financial sector buffers remain strong.

    The 2025 budget deficit target of 5.5 percent of GDP is appropriate, accommodating priority spending needs, including on national security, refugee integration, and infrastructure development. The adopted 2026-28 medium-term expenditure framework will reduce the fiscal deficit in 2026 to 4.5 percent, supporting macro-fiscal stability while making room for well-targeted, priority social and development spending.

    The program is broadly on track. All end-December 2024 quantitative performance criteria (QPCs) have been met except for a small breach of the QPC on budget domestic lending. The end-December 2024 inflation was within the inner Monetary Policy Consultation Clause bands. Progress on structural benchmarks continues, although with some delays.

    The ongoing economic uncertainty underscores the need for prudent policies and steadfast implementation of structural reforms:

    • Fiscal policy should continue to balance the need to support national spending priorities while maintaining macro-fiscal stability, with further efforts to mobilize revenue and enhance spending efficiency.
    • The CBA should remain proactive in keeping inflation anchored, with future interest rate decisions guided by developments in inflation and inflation expectations. The flexible exchange rate should continue to serve as a key shock absorber. Foreign exchange interventions should be limited to addressing disorderly market conditions and seeking opportunities to bolster FX reserves through purchases when conditions allow.
    • To sustain long-term growth, structural reforms should continue to advance reforms focused on improving labor market flexibility, diversifying exports, enhancing supervisory frameworks, and strengthening governance.

    Table 1. Armenia: Selected Economic and Financial Indicators, 2022–30

     

     

     

    2022

    2023

    2024

     

    2025

    2026

    2027

    2028

    2029

    2030

     

     

    Act.

     

    Proj.
                           

    National income and prices:

    		                      

    Real GDP (percent change)

    		  

    12.6

    8.3

    5.9

    		  

    4.5

    4.5

    4.5

    4.5

    4.5

    4.5

    Final consumption expenditure, Contrib. to Growth

    		  

    3.7

    5.3

    3.3

    		  

    3.8

    2.5

    2.9

    2.9

    2.9

    2.9

    Gross fixed capital formation, Contrib. to Growth

    		  

    2.7

    3.1

    2.6

    		  

    2.6

    2.5

    2.1

    2.1

    2.1

    2.1

    Changes in inventories, Contrib. to Growth

    		  

    -0.3

    0.0

    -0.3

    		  

    -1.8

    0.0

    0.0

    0.0

    0.0

    0.0

    Net exports of goods and services, Contrib. to Growth

    		  

    6.2

    -0.1

    0.0

    		  

    0.3

    -0.5

    -0.5

    -0.5

    -0.5

    -0.5

    Gross domestic product (in billions of drams)

    		  

    8,501

    9,493

    10,193

    		  

    10,926

    11,760

    12,658

    13,624

    14,665

    15,784

    Gross domestic product (in millions of U.S. dollars)

    		  

    19,514

    24,186

    25,705

    		  

    26,437

    26,864

    28,084

    29,724

    31,603

    33,547

    Gross domestic product per capita (in U.S. dollars)

    		  

    6,661

    8,159

    8,671

    		  

    8,917

    9,060

    9,471

    10,024

    10,656

    11,311

    CPI (period average; percent change)

    		  

    8.7

    2.0

    0.3

    		  

    3.2

    3.0

    3.0

    3.0

    3.0

    3.0

    CPI (end of period; percent change)

    		  

    8.3

    -0.6

    1.5

    		  

    3.3

    3.0

    3.0

    3.0

    3.0

    3.0

    GDP deflator (percent change)

    		  

    8.0

    3.1

    1.4

    		  

    2.6

    3.0

    3.0

    3.0

    3.0

    3.0

    Unemployment rate (in percent)

    		  

    13.5

    12.4

    13.9

    		  

    13.5

    14.0

    14.0

    14.0

    14.0

    14.0

    Investment and saving (in percent of GDP)

    		                      

    Investment

    		  

    22.4

    22.9

    23.8

    		  

    21.2

    21.2

    21.2

    21.1

    21.1

    21.1

    National savings

    		  

    22.7

    20.6

    20.0

    		  

    16.7

    16.4

    16.5

    16.4

    16.3

    16.3
                           

    Money and credit (end of period)

    		                      

    Reserve money (percent change)

    		  

    5.0

    -4.0

    13.8

    		  

    9.8

    9.8

    9.8

    9.8

    9.8

    9.8

    Broad money (percent change)

    		  

    16.1

    17.4

    13.7

    		  

    12.5

    12.5

    12.5

    12.5

    12.5

    12.5

    Private sector credit growth (percent change)

    		  

    4.5

    18.4

    31.7

    		  

    13.3

    13.3

    13.3

    13.3

    13.3

    13.3

    Central government operations (in percent of GDP)

    		                      

    Revenue and grants

    		  

    24.3

    24.9

    25.3

    		  

    25.1

    25.4

    25.5

    25.5

    25.5

    25.5

    Of which: tax revenue

    		  

    21.9

    22.5

    22.4

    		  

    23.0

    23.3

    23.4

    23.4

    23.4

    23.4

    Expenditure

    		  

    26.4

    26.9

    29.0

    		  

    30.6

    29.9

    29.8

    29.3

    29.0

    28.8

    Overall balance on a cash basis

    		  

    -2.1

    -2.0

    -3.7

    		  

    -5.5

    -4.5

    -4.3

    -3.8

    -3.5

    -3.3

    Public and publicly-guaranteed (PPG) debt (in percent of GDP)

    		  

    49.2

    50.5

    50.0

    		  

    54.2

    55.9

    57.4

    57.6

    57.4

    57.1

    Central Government’s PPG debt (in percent of GDP)

    		  

    46.7

    48.2

    48.0

    		  

    52.4

    54.3

    56.0

    56.4

    56.4

    56.1

    Share of foreign currency Central Government PPG debt (in percent)

    		  

    62.1

    52.7

    48.2

    		  

    47.7

    46.9

    46.3

    46.3

    46.5

    46.9

    External sector

    		                      

    Exports of goods and services (in millions of U.S. dollars)

    		  

    10,118

    14,338

    18,618

    		  

    12,167

    12,292

    12,537

    12,863

    13,228

    13,611

    Exports of goods and services (percent change)

    		  

    100.8

    41.7

    29.8

    		  

    -34.7

    1.0

    2.0

    2.6

    2.8

    2.9

    Imports of goods and services (percent change)

    		  

    66.8

    41.6

    31.3

    		  

    -30.7

    1.2

    2.4

    2.9

    2.9

    3.1

    Current account balance (in percent of GDP)

    		  

    0.3

    -2.3

    -3.9

    		  

    -4.5

    -4.8

    -4.8

    -4.8

    -4.8

    -4.8

    FDI (net, in millions of U.S. dollars)

    		  

    926

    527

    76

    		  

    397

    454

    468

    483

    529

    534

    Gross international reserves (in millions of U.S. dollars)

    		  

    4,112

    3,610

    3,679

    		  

    3,427

    3,561

    3,665

    3,768

    3,869

    3,969

    Import cover 1/

    		  

    3.4

    2.3

    3.3

    		  

    3.1

    3.1

    3.1

    3.1

    3.1

    3.1

    End-of-period exchange rate (dram per U.S. dollar)

    		  

    394

    405

    397

    		  

    …

    …

    …

    …

    …

    …

    Average exchange rate (dram per U.S. dollar)

    		  

    436

    392

    397

    		  

    …

    …

    …

    …

    …

    …

    Sources: Armenian authorities; and Fund staff estimates and projections.

    1/ Gross international reserves in months of next year’s imports of goods and services, including the SDR holdings.
       
                                 

    [1] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

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

    https://www.imf.org/en/News/Articles/2025/06/27/pr-25222-armenia-imf-executive-board-completes-the-fifth-review-under-the-stand-by-arrangement

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: “We are all inclusive from birth”: the results of the All-Russian competition “My Good Business” have been summed up

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    On June 27, 2025, a ceremony was held to present awards to the winners of the All-Russian competition of socially responsible initiatives of entrepreneurs and socially oriented non-profit organizations “My Good Business”.

    The organizer of the All-Russian competition “My Good Business” is the Ministry of Economic Development of Russia. The federal operator of the Competition for the third year in a row was the State University of Management. The award ceremony for the winners, as in the previous year, was held at the Social Entrepreneurship Forum “More than Business”.

    “This is a very kind competition, fully corresponding to its name. It is not only and not so much about money, but about the impulse of the soul. The exhibition in the foyer clearly showed the interest and involvement of entrepreneurs and their clients, grandmothers and mothers. I am personally happy to participate in the main events of the Competition,” admitted Deputy Minister of Economic Development of the Russian Federation Tatyana Ilyushnikova and thanked the State University of Management for assistance in organizing the Competition.

    “GUU has been the operator of the Competition for the third year already. We can see how interest in it is growing based on the number of applications. I often visit the regions and never miss the opportunity to visit local My Business centers to meet social entrepreneurs. It is rare to find such passionate people who are ready to give everything for the sake of people and the promotion of their projects. I have never regretted that we started working on this Competition,” shared Vladimir Stroyev, Rector of GUU.

    “We see that more and more entrepreneurs are taking part in the Competition, both small and large businesses. Our foundation will be happy to continue supporting the Competition. We have recently developed state standards for assessing the social effects of good business. All of these are elements of a major task – focusing the economy on people,” said Roman Davydov, development advisor for the Our Future Foundation and member of the Public Council of the Russian Ministry of Economic Development.

    “My experience of meeting with entrepreneurs shows that for every second one, the main motive for implementing their projects is the desire to be socially useful. Focus on society has recently become increasingly important. And since everyone here is for good, there are simply no losers in this Competition,” said Dmitry Litvin, head of the Rosmolodezh.Predprinimatel and Rosmolodezh.Profi departments.

    Results of the All-Russian competition of projects in the field of social entrepreneurship and NPO “My good business”

    Track “Social Interaction”

    Nomination “Good Guy”: 2nd place: Irina Romacheva, project “Implementation of charitable and infrastructure programs aimed at supporting youth and children’s sports, adaptation of people with disabilities”, Nizhny Novgorod Region; 1st place: Anna Knyazeva, project “Dorogobuzhkotlomash – for children”, Smolensk Region.

    Nomination “Cultural Code”: 1st place: Iskandar Bakhtiyarov, project “Annual holiday for first-graders “Children are our future” from the Ufanet company”, Republic of Bashkortostan.

    Nomination “Initiatives to support socially responsible business and NPOs”: 3rd place: Nikolay Makarov, project “Competition for students of the construction program “KSM Scholar”, Republic of Karelia; 2nd place: Irina Medvedeva, project “Social entrepreneurship development program “Start your own business”, Nizhny Novgorod Region; 1st place: Evgeny Petrov, project “Information technologies in the field of social entrepreneurship”, Nizhny Novgorod Region.

    Track “Help with meaning”

    Nomination “Kind Assistance”: 3rd place: Anna Zueva, project “Charity Shop “Teplo”, Perm Krai; 2nd place: Tatyana Egorova, project “Assistance Point for Participants of the SVO “Territory of Good 26”, Stavropol Krai; 1st place: Aishat Karaeva, project “Comprehensive Social, Medical, Scientific and Information Support for the Population of the Republic of Dagestan”, Republic of Dagestan.

    Nomination “Young Entrepreneur”: 3rd place: Yaroslav Kozlov, project “NeuroCareer Guidance”, Moscow; 2nd place: Anna Pokshivanova, project “Centers for Additional Education for Children and Family Classes “Mirta Superclass”, Lipetsk Region; 1st place: Vladislav Kozin, project “School of Music KozinMusicEducation”, Rostov Region.

    Nomination “Cultural Code”: 3rd place: Elena Bobrova, project “OOO “Valeologiya” Comprehensive rehabilitation of children with disabilities in the Ivanovo Regional Center for Exercise Therapy and Sports Medicine”, Ivanovo Region; 2nd place: Marina Kolesnichenko, project “Theatrical anthology of school literature (Educational theater of the Association of Artists of the Moscow Art Theater)”, Moscow; 1st place: Irina Slesareva, project “STARFISH network of family health aqua clubs”, Moscow.

    Nomination “Kind Mom”: 3rd place: Anastasia Kupriyanova, project “Let’s Help You Learn”, Yaroslavl Region; 2nd place: Yulia Moshkina, project “Family Inclusive Club “We Are Together”, Kirov Region; 1st place: Ekaterina Davydova, project “Correctional and Development Center for Children with Disabilities “MIR”, Tyumen Region.

    Nomination “Good Guy”: 3rd place: Roman Usachev, project “EQUICENTER – power in motion”, Lugansk People’s Republic; 2nd place: Olga Repkina, project “Good Robot” – creation and development of a children’s technical creativity club”, Arkhangelsk region; 1st place: Olga Cherpakova, project “Ecosystem of assistance to the elderly and disabled “Comfort”, Tyumen region.

    Nomination “Crafts of Russia”: 3rd place: Ulyana Voitenko, project “Siberian Will”, Novosibirsk Region; 2nd place: Elena Kuvshinova, “Project for the creation of a cultural and educational center for folk art and crafts in the city of Kirovo-Chepetsk, Kirov Region”, Kirov Region; 1st place: Vladimir Matveyev, project “Reproduction of ancient Russian jewelry”, Novgorod Region.

    Silver Business nomination: 3rd place: Larisa Krutskikh, project From Movement to Speech, Altai Krai; 2nd place: Oleg Serdyuk, project Organization of Care for the Elderly and People with Limited Mobility at Home and in Hospital, Saratov Oblast; 1st place: Galina Bozhenko, project I Want! I Can! I Do!, Donetsk People’s Republic.

    Nomination: “Working to Help”: 3rd place: Gulnaz Kamalova, project “Inclusive Workshops “Dobroshtuki”, Republic of Bashkortostan; 2nd place: Yulia Romeiko, project “Charity Program “Social Hotel for Children with Cancer “Good House”, Moscow; 1st place: Marina Sintsova, project “Center for Reconstructive Dermatology, Cosmetology and Aesthetic Rehabilitation for Participants of the Special Military Operation (SVO)”, Samara Region.

    My Kind Startup nomination: 3rd place: Daniil Bredikhin, project “Smart sticker for the blind and visually impaired”, Oryol region; 2nd place: Alexander Ryabinin, project “Elevatek: creating the opportunity to live without restrictions”, Bryansk region; 1st place: Alexander Litvinov, project “Production of polymer ophthalmological implants for mass use to solve medical and social problems associated with visual impairment”, Nizhny Novgorod region.

    Special nomination “Best social franchise”: Winner – Olga Zubkova, project “Inclusive camp Novy Gorod “Druzhny”, Perm Krai.

    We congratulate all the winners and are already looking forward to the start of the next season of the All-Russian competition “My Good Business”.

    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 –

  • MIL-OSI Russia: Tatyana Golikova: The pilot project on career support covered about 524 thousand students

    Translation. Region: Russian Federal

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

    “The goal of the national project “Personnel” is to reduce the personnel shortage by creating mechanisms and tools that will allow additional involvement of the population in employment, ensure professional mobility, and correctly navigate not only the current but also the prospective demand of employers for personnel. And here our main efforts are aimed at working with internal reserves, primarily young people. Today, on the eve of Youth Day, when school graduates and students have passed exams and defended their diplomas, it is especially important to help the children decide on their future work, ensure a seamless transition from education to employment,” said Tatyana Golikova.

    The Deputy Prime Minister focused on the key features of the national project’s implementation.

    Within the framework of the federal project “Labor Market Management”, annual forecasting of personnel needs is carried out. Since this year, for the first time, a forecast is made for a 7-year period, so that the results of the forecast cover the entire cycle of training qualified specialists.

    Over 300,000 companies, employing around 22 million workers, have already taken part in the all-Russian employer survey. Starting next year, all processes related to forecast preparation will be transferred to the Work of Russia portal, which will simplify data verification and processing.

    As part of the national project “Personnel”, the modernization of the employment service continues.

    “By the end of this year, 50% of employment centers in Russia will have acquired a new look. In the updated centers, the speed of personnel selection based on employers’ requests has increased by 11.5%. The time to employment has decreased by 39%, the number of services for employers has increased by 20%, and for job seekers by 70%,” said Tatyana Golikova.

    The federal project “Education for the Labor Market” continues to develop completely new tools. The first of them was presented on June 15 – these are national rankings of college and university graduate employment. In order for the comparison to be as relevant as possible, all educational organizations are divided into areas. It is important that the ranking results are useful not only for the education sector and applicants, but also taken into account by regions and employers.

    “As part of the national project “Personnel” to improve the relationship between education and career, we launched a pilot project to support students. This year, 11 regions are in the pilot. Here, the personnel centers “Work of Russia” are building a single career development plan – from the 8th grade to employment in the company. The project has already covered 350 thousand schoolchildren, 100 thousand college students and 74 thousand university students. More than a thousand organizations have joined the pilot. The project ends at the end of June. We will see the first results of supporting our graduates,” the Deputy Prime Minister emphasized.

    An important element in the link between education and the labour market is targeted training.

    As Tatyana Golikova noted, the main demand is for training in higher education programs – about 94 thousand educational places. In addition, since this year, through the portal “Work of Russia”, employers have been able to submit applications for quotas for targeted training for the 2026/27 academic year. This service is in demand, since it allows you to avoid double competition for an educational place and clearly organize work on attracting applicants to the needs of the enterprise. More than 70 thousand companies used it, submitting applications for 132 thousand educational places.

    Along with large systemic projects, the implementation of measures to quickly respond to the situation on the labor market continues within the framework of the federal project “Active Measures to Promote Employment.”

    “This year, free retraining programs are available for 360 professions. Taking into account the different levels of initial training of applicants, more than 4 thousand training programs have been created for these programs. More than 56 thousand applications for training have already been submitted. Training of employees of defense industry enterprises continues. 198 enterprises have already joined the project, planning to train more than 12 thousand employees. More than 2 thousand people have already undergone retraining,” said Tatyana Golikova.

    The “Best in Profession” competition has also been reformatted within the framework of the national project. Almost 230 regional stages of the competition are currently planned.

    “The fair’s events for participants are held simultaneously at 1.9 thousand sites – in employment centers, universities and colleges, at enterprises, in shopping centers, popular city spaces. Today I wish all employers and job seekers to find each other. Good luck!” – Tatyana Golikova noted in conclusion.

    The session also featured speeches by the President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin, Chairman of the Federation of Independent Trade Unions Sergei Chernogaev, Acting General Director of the All-Russian Research Institute of Labor of the Ministry of Labor Vladimir Smirnov, Head of the All-Russian Public Opinion Research Center, Chairman of the Public Council under the Ministry of Labor Konstantin Abramov, Director for Development of Strategic Projects at PJSC Rostelecom Vladimir Tatarintsev, and Vice President for Human Resources at AFK Sistema Svetlana Matveeva.

    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 –

  • MIL-OSI Russia: Georgian PM: Deepening cooperation with China remains one of the government’s top priorities

    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

    TBILISI, June 27 (Xinhua) — Deepening cooperation with China remains one of the top priorities for Georgia and its government, Georgian Prime Minister Irakli Kobakhidze said Friday while presenting his government’s annual activity report to parliament.

    “As for relations with China, this is one of the most important priorities for our country and government. Our task is to deepen political and trade-economic ties as much as possible. We signed a strategic partnership agreement with China the year before last and will do everything to ensure that this agreement is reflected in specific results in the future. Active work on this will continue in the future,” the head of government noted.

    According to M. Kobakhidze, in 2024, Georgia’s economy grew by 9.4 percent, which allowed maintaining the sustainable economic growth rates observed since 2021. In January-April 2025, economic growth was 8.8 percent, and preliminary data for May also confirm the positive dynamics. According to the Prime Minister, the country will not only achieve the indicators planned in the budget, but will also exceed them. The International Monetary Fund has increased the forecast for Georgia’s economic growth in 2025 to 7.2 percent, and the government considers this target quite achievable, even ahead of the plan.

    M. Kobakhidze expressed Tbilisi’s readiness to restore strategic partnership with the United States. “We are ready to do this with a specific roadmap that will reflect the interests of both countries,” he said. According to him, very important steps have been taken between the two countries in the direction of embassies, including the appointment of the Georgian ambassador to the United States, and he believes that these recent changes will ultimately contribute to a reset of relations.

    Speaking about European integration, the Prime Minister reiterated Georgia’s goal of becoming a full member of the European Union by 2030. At the same time, he expressed hope for a “fair and sound approach” from European institutions and stressed that the government maintains a pragmatic course towards European integration. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: New International Airport to Be Built in Tbilisi

    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

    Tbilisi, June 27 (Xinhua) — The new international airport in the Tbilisi suburb of Vaziani will receive its first passengers after 2031, Georgian Prime Minister Irakli Kobakhidze said while delivering his annual report to the country’s parliament on Friday.

    The airport will be built on the site of a former military airfield. Its capacity will be 18 million passengers per year, which is 4.5 times more than the current Tbilisi airport. The volume of investment in the project is estimated at $1.3 billion.

    Earlier, the government promised that construction of the airport would begin in 2024 and be completed by 2028, but the deadlines were shifted. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: One person killed, two injured in shooting in southern Poland

    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

    WARSAW, June 27 (Xinhua) — At least one person was killed and two others were injured in a shooting in southern Poland on Friday morning, Polish television channel Polsat News reported.

    According to the TV channel, the incident occurred at around 10:00 local time /08:00 GMT/ in the village of Stara Wieś, located in the Limanowski district of the Lesser Poland Voivodeship.

    Police spokeswoman Jolanta Batko confirmed that three people had been shot dead.

    Authorities said the suspect fled into nearby woods and a major manhunt is underway. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Three killed in tourist plane crash in France

    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

    PARIS, June 27 (Xinhua) — A tourist plane belonging to an aeroclub crashed in the commune of Chamfoll in north-central France on Friday afternoon, killing all three people on board.

    The single-engine Cessna 172 crashed in a residential area just after 4 p.m. local time, narrowly missing nearby houses, according to authorities in the Eure-et-Loir department.

    The plane crash killed two men and one woman.

    The crash site was quickly cordoned off by emergency services. An investigation is underway under the direction of the Air Transport Gendarmerie and the National Police. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Unique electric ships, which have no analogues in the world, have been sailing in Moscow for two years.

    Translation. Region: Russian Federal

    After the launch of river routes, regular passenger transportation made the Moscow River a full-fledged transport artery of the city.

    Electric boat trips are included in the “Ediny” subscriptions for 30, 90 and 365 days. Two years after the launch of regular river electric transport, residents of the capital now have the opportunity to:

    Use three year-round river routes with a total length of 29 km Quickly and conveniently move to the opposite bank of the Moscow River thanks to electric vessels

    Moreover, the launch created 350 new jobs, and the Moscow River has become much safer. Thanks to regular work, crews can promptly detect people in the water, and they have already saved four people.

    On June 20, Moscow Mayor Sergei Sobyanin opened the 3rd route of regular river electric transport “Novospassky – ZIL”, which improved transport accessibility for more than 55 thousand Muscovites living in four districts. The ZIL pier is used as the final stop of two lines at once – this allows passengers to get from Pechatniki to Novospassky on the most innovative type of urban transport in the capital, – said Maxim Liksutov.

    MIL OSI Russia News –

  • MIL-OSI Russia: The meeting of the Supreme Eurasian Economic Council was held in Minsk

    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

    MINSK, June 27 (Xinhua) — A meeting of the Supreme Eurasian Economic Council was held in Minsk on Friday. The summit began with a narrow-format meeting attended by the heads of the EAEU member states, and then they were joined by the leaders of observer countries and representatives of foreign delegations. The relevant information was published by the press service of the head of the Belarusian state.

    During a narrow-format meeting, Belarusian President Alexander Lukashenko noted that the summit agenda included a number of issues requiring specific decisions at the highest level. “First, we are completing the implementation of strategic directions for the development of Eurasian economic integration until 2025. Second, this year a roadmap for joint actions for the next period should be adopted — for the implementation of the declaration on the further development of economic processes in our union,” A. Lukashenko explained.

    During the meeting of the Supreme Eurasian Economic Council in an expanded format, A. Lukashenko noted that the EAEU is capable of becoming the core of a competitive and successful integration space of integrations. “There, the Eurasian economic potential would be linked with the enormous opportunities of the Shanghai Cooperation Organization, BRICS, ASEAN and other associations of the Global South and East,” A. Lukashenko said.

    Following the summit, a number of domestic and international documents were signed. In particular, a temporary trade agreement was concluded between the member states of the Eurasian Economic Union and Mongolia, as well as an agreement between the EAEU and the UAE on economic partnership.

    It was decided to hold the next meeting of the Supreme Eurasian Economic Council in Russia at the end of the year. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: V. Putin announced Russia’s readiness for the third round of negotiations with Ukraine

    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/Minsk, June 27 (Xinhua) — Russia is ready for a third round of talks with Ukraine, Russian President Vladimir Putin said on Friday after a meeting of the Supreme Eurasian Economic Council in Minsk.

    “The subject of negotiations with Ukraine should be the discussion of memoranda between the two countries,” the Russian president said.

    He recalled that Russia and Ukraine are currently fulfilling agreements on the exchange of prisoners of war, as well as the bodies of dead soldiers. The humanitarian component is important. This creates conditions for further resolution of the essence of the problem, the Russian leader added.

    “We have already given away over six thousand bodies and are ready to give away almost three thousand more,” said V. Putin.

    The leaders of both delegations are in constant contact with each other, the Russian President concluded.

    Earlier, according to Ukrainian media reports citing the words of Ukrainian Defense Minister Rustem Umerov, Ukraine plans to propose holding a meeting between V. Zelensky and V. Putin after the completion of the humanitarian exchange. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Sales of used Chinese cars in Russia grew by 44 percent in January-May — Russian analyst

    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, June 27 /Xinhua/ — In the first five months of 2025, sales of used Chinese passenger cars in Russia increased by 44 percent and reached 93.5 thousand units, Sergey Tselikov, an analyst at the Avtostat agency, said on Thursday.

    According to him, 49.8 percent of the used Chinese brand car market is made up of cars up to 3 years old. The most popular brand among used Chinese cars /22.8 percent/ among Russians is Chery. In second place is the Geely brand, and in third place is the Haval brand.

    The most popular Chinese car models in Russia under 3 years old were Haval Jolion, Geely Monjaro, Geely Coolray, Chery Tiggo 7 Pro Max, Omoda C5. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Iran delays full opening of airspace until June 28

    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

    TEHRAN, June 27 (Xinhua) — Iran has postponed the full opening of its airspace until the afternoon of June 28, Iran’s official IRNA news agency reported.

    As the agency noted, citing the official representative of the Iranian Ministry of Roads and Urban Development, Majid Akhavan, the corresponding decision was made to ensure the safety of passengers and flights, as well as taking into account the opening of airspace in the east of the country for domestic and international flights.

    The official said that Iran’s airspace in the northern, southern and western parts of the country will remain closed until 2 p.m. local time (10:30 GMT) on Saturday.

    On the evening of June 25, the ministry announced the reopening of airspace, saying the move was aimed at gradually restoring air traffic to pre-conflict levels.

    Iran closed its airspace on June 13 after Israeli airstrikes on Tehran and other areas. A ceasefire was reached between the two countries on June 24 after 12 days of airstrikes. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Alexey Overchuk met with First Deputy Prime Minister of Mongolia Nyam-Osoryn Uchral

    Translation. Region: Russian Federal

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

    On the sidelines of the meeting of the Supreme Eurasian Economic Council in Minsk, Deputy Prime Minister Alexei Overchuk held a meeting with First Deputy Prime Minister of Mongolia Nyam-Osoryn Uchral, during which the parties discussed key issues of bilateral and multilateral trade and economic cooperation.

    Alexey Overchuk congratulated Nyam-Osoryn Uchral on his appointment to the high post and expressed confidence that his professional experience will contribute to further strengthening of friendly ties between Russia and Mongolia.

    Both sides stressed the importance of prompt ratification of the temporary free trade agreement between the Eurasian Economic Union and Mongolia, signed in Minsk at a meeting of the Supreme Eurasian Economic Council. The parties discussed in detail a range of issues, the solution of which will create conditions for the effective implementation of the signed agreement.

    The Deputy Prime Minister noted that bilateral cooperation is also developing dynamically. Mongolia is an important trading partner of Russia. According to the results of 2024, bilateral trade turnover increased by 17.8% to $2.59 billion. In January-April 2025, mutual trade increased by 5.9% and amounted to $861.2 million. The agreement will bring trade and economic relations between Russia and Mongolia to a qualitatively new level and will contribute to improving the trade balance between the EAEU member states and Mongolia.

    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 –

  • MIL-OSI Russia: China urges relevant party to avoid inciting or using forces advocating for ‘Taiwan independence’ – Chinese Foreign Ministry

    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, June 27 (Xinhua) — China urges the relevant party to avoid inciting or using “Taiwan independence” forces, Foreign Ministry spokesman Guo Jiakun said Friday.

    Guo Jiakun made the remarks at a regular press conference in response to a Czech media report that Chinese embassy officials closely followed the car of Taiwanese politician Xiao Meiqin while she was in Prague last year.

    By allowing the visit of Xiao Meiqin, who is a die-hard supporter of “Taiwan independence”, the Czech Republic has seriously violated the one-China principle and political commitments to China, grossly interfering in its internal affairs. The Chinese side has expressed serious dissatisfaction and resolute protest over this, Guo Jiakun added.

    “Let me emphasize that Chinese diplomats always abide by the laws and regulations of the host country,” Guo Jiakun said, noting that China urges the relevant side to avoid instigating or taking advantage of “Taiwan independence” forces, making unnecessary scandals and malicious noise, and not disrupting or undermining interstate relations.

    No matter how Taiwan’s Democratic Progressive Party administration seeks “independence” by securing foreign support in any form, it cannot hide its evil intentions and will certainly fail in its attempts, a Chinese diplomat said. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Monument to Xian Xinghai reopened in Almaty

    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

    ALMATY, June 27 (Xinhua) — A grand ceremony was held in Almaty on Friday to reopen the Xian Xinghai monument and its adjacent square after restoration.

    In his welcoming speech, Zhanibek Abdrashov, head of the Kazakh Foreign Ministry’s office in Almaty, noted the strong friendship between Xian Xinghai and Kazakh composer Bakhytzhan Baikadamov. “The monument we are unveiling today is not just a symbol of the memory of the great composer. It is a symbol of friendship, mutual understanding and cultural unity. It is a reminder of how, in difficult times, music can unite hearts, overcome borders and become the voice of humanity,” said Zh. Abdrashov.

    Deputy Head of the Almaty City Culture Department Arman Khalbekov said in his speech that the event is of great importance for the cultural life of Kazakhstan and China. “Friendly relations between Kazakhstan and China have deep historical roots… These historical ties are being revived today. This friendship continues to develop not only in the economy and partnership, but also in cultural ties,” he noted.

    Gulaim Zhumabekova, director of the State Museum of Arts of Kazakhstan, said that this monument is not just a sculptural object, but also a symbol of historical memory, gratitude and cultural ties between the two nations. “Today we are not just opening a renovated monument — we are once again emphasizing the importance of cultural ties between Kazakhstan and China,” said G. Zhumabekova.

    In her ceremonial speech, Chinese Consul General in Almaty Jiang Wei called for the preservation and strengthening of friendly ties between the two countries. “Let us together preserve and continue the friendship between China and Kazakhstan, embodied in the music of Xian Xinghai and Baikadamov, strengthen mutual understanding and closeness between the peoples of the two countries, and jointly build an even closer community of shared destiny between China and Kazakhstan,” she concluded.

    Following the unveiling ceremony of the monument, a retrospective screening of the film “Composer,” released in 2019, was held. It is the first Chinese-Kazakh joint film that won the prestigious 18th Huabiao Film Award and other awards. –0–

    MIL OSI Russia News –