Academic literature on the topic 'Export Control Act of 1949'

AbstractDuring the period from 1919 to 1970, rat killing was ‘modernized’: official, scientific, commercial, agricultural and county advisers sought ‘rat control’. Scientific expertise on rat parasites and rat control circulated internationally. The risks posed to human health through plague, as traced by researchers who were already expert on the third pandemic, led in the UK to the Rats and Mice (Destruction) Act 1919; and the United Nations Conference on Food and Agriculture, at Hot Springs, Virginia, USA, 1943 informed its replacement, the Prevention of Damage by Pests Act 1949. Anticoagulants such as Warfarin developed in the USA at first sold widely in the UK, then later British research on resistance informed subsequent American research. This UK application of international policy and science paralleled the emergence of an official case at Parliamentary level for the national, multidisciplinary and multi-agency approach to rats. Within the UK, animal ecologists under Charles Elton mapped rats in the emergent field of population studies; and new forms of economic costing at MAFF quantified the damage done to farm buildings and machinery and the consumption, soiling and contamination of food, seed and fodder in store. Yet nineteenth-century rat catchers already had an excellent and long-established grasp of rat behaviour, a necessity in either taking or executing their subjects. Though characterized as inefficient, picturesque and craft-based, that vernacular knowledge was reproduced and formalized in the twentieth century through empirical research and evidence-based practice, shaped by experiences at the intersection of human demand, the interests of the (wild and domesticated) animals that humans have preferred, and the endeavours of the rat.

Under domestic law, there is no accurate definition of the concept of nuclear export control. ‘The Nuclear Safety Act’ defines safety measures for the peaceful use of nuclear power and import and export control that blocks the illegal transfer of nuclear goods and technologies as nuclear power control, and ‘the Foreign Trade Act’ stipulates import and export control of especially designed or prepared nuclear items(Trigger List) and dual-use items as a type of strategic items export control. The Nuclear Safety and Security Commission implements import and export control based on the acts above, but the target items are different. Nevertheless, since there is no clear explanation of import and export control, nuclear power control, and the definition and scope of target items in laws and regulations, materials and references explaining Korea’s nuclear import and export control legislation contain contents unlike. With the critical mind, the paper identifies the structure and operating principle of the domestic implementation legislation, derives the problems of the current acts, and puts forwards a amendment proposal in three main aspects upon the Nuclear Safety Act; clarification of the content and scope of import and export control in the Nuclear Safety Act; introduction of the legal basis for nuclear import and export control work that was routinely carried out in the absence of alegal ground; and the enactment of a public notice on the nuclear import and export control. The first proposal made the import and export control legislation systematic by clearly defining similar concepts such as nuclear power control, import and export control, and nuclear power import and export control. The second proposal includes the amendment proposals of relevant acts and regulations on education for non-compliance with import and export control, operation and maintenance of the nuclear export control system, and the obligation of employees of the Korea Institute of Nuclear Control and Technology to prohibit leakage of secrets, which are all legally unfounded. The third proposal is the result of considering the specificity of nuclear import and export control and the convenience of interested persons of the acts and regulations, and increases efficiency by regulating goods and technologies under the jurisdiction of the Nuclear Safety and Security Commission through a separate public notice.

Changes to the German national export laws address modernization, reform, and among other issues the penalties regime, including a new provision on voluntary self-disclosure. This article provides a practical summary of these important changes.

During 1994, the total sales value of chemicals exported from the United States exceeded $51 billion, up 15 percent over the previous year and resulting in the chemical sector outpacing all other sectors that finished the year with favorable trade balances. Chemicals leaving the United States were shipped under the control provisions of both the Department of Commerce's Export Administration Regulations (EAR), and the Department of State's International Traffic in Arms Regulations (ITAR). Though this is something of an oversimplification, the EAR basically concerns itself with products that have civilian application, and the ITAR with products of use to the military. Currently, the Commodity Control List of the EAR, overseen by Commerce's Office of Export Licensing within the Bureau of Export Administration, identifies fifty-four chemicals and ten toxins as intermediate agents and precursors to chemical weapons subject to export regulation. The Munitions List of the ITAR, administered by the Office of Defense Trade Controls of the State Department's Bureau of Politico-Military Affairs, identifies twenty-two chemicals as subject to regulation and cautions that this listing is merely illustrative, as any “chemical agent,” defined as “a substance having military application,” is subject to export control.

ABSTRACT On 13 August 2018, US President Donald Trump signed a legislation called the ‘Export Controls Act of 2018’ (ECA) that is important for reinvigorating the export control regime in the USA. This paper argues that contents of the ECA will not only impact the USA but also the way that the ECA is structured will potentially have a long-lasting influence on international export control regimes and the role that export controls play in international trade. International export control regimes were established post-World War II as a trade measure to pursue common strategic and national security goals among allied countries. Due to the sensitive nature of national security issues, international export control agreements were structured as non-binding agreements that heavily relied on the consensus of participating countries in formulating export control lists that the participating countries could then adopt in their domestic regulations. The cohesiveness of the global export control regimes has been based on the cornerstones of the consensus-building and list-based standards. The USA established its export control regimes to complement these international export control regimes and has been a strong proponent of requesting countries to adopt the international export control lists into domestic regulations. With the passage of the ECA, the infusion of economic policy considerations such as maintaining the USA’s technological leadership through adding a category of emerging and foundational technology has changed the long-standing export control narrative. Through the changes made to the US ECA, the scope of national security subject to export control regimes has expanded from being focused on military-oriented goods and technology into one that now includes commercial technology. While the changes made through the ECA serve to protect the USA’s technological interests, the statute could also undermine important elements of the global export control regime that the international community has established in the past seventy years post-World War II.

THE 1977 UNITED STATES ARMS EMBARGO AGAINST SOUTH AFRICA: INSTITUTION AND IMPLEMENTATION TO 1997 The institution and implementation of the 1977 mandatory United States arms embargo against South Africa and the impact thereof on relations between the United States and South Africa is investigated in this study. The investigation centers around the objectives of the United States in instituting the arms embargo, whether these objectives were met through the implementation and enforcement of the arms embargo, and whether the South African reaction to the embargo indicates the failure of the embargo to meet its objectives. The relation of the arms embargo to the foreign policy of the United States Government of the day, as well as the impact of the embargo on the South African military industry is discussed. The basis on which the problem statement is built is that close scrutiny of the implementation of the arms embargo would allow one to judge the seriousness that the United States assigned to the objectives of the arms embargo. The main objective of the embargo was to force the South African Government to abandon apartheid. Full compliance with the embargo would demonstrate the commitment of the United States to this objective, while non-compliance would be regarded by critics as a retreat from that objective. The United States’ implementation of the arms embargo would furthermore demonstrate the ability of major arms producers like the United States to reduce the threat of global violence by putting measures in place to successfully block arms and related items from being exported to potential belligerents. In conclusion to the study, it was found that the implementation of the embargo was linked to external objectives of the United States Government of the day. Thus, the strengthening or weakening of arms embargo regulations occurred according to the objectives that the Government of the day wanted to achieve. Nonetheless, the United States’ implementation of the arms embargo was generally very effective. It was also concluded that the arms embargo indeed acted as the main stimulant for the development of the world-renowned South African arms industry. This industry developed out of the determination of the white South African minority Government to remain in power, which in turn resulted in a defiant disregard for the arms embargo. Clandestine activities became the order of the day. These activities later had a major impact on the first democratically elected black government in South Africa. This government inherited a legacy of embargo violations, which led to much tension in relations with the United States in the first few years after the 1994 South African elections. The research therefore also paints a picture of the inherited struggles that the new South African Government had to face as a result of the arms embargo, and the resultant difficulties in normalizing relations with the United States.
Thesis (DPhil (History))--University of Pretoria, 2006.
Historical and Heritage Studies
unrestricted

Abstract The present responsibility for the control of the exportation of ‘cultural goods’, a broad expression which can include goods of cultural interest, works of art, and various higher value antiques and collectibles, rests primarily with the Department for Culture, Media and Sport. The former controls were exercised by the government under legislation passed at the start of the Second World War but are now found in the Export Control Act 2002 and the subsidiary legislation made under it, particularly the Export of Goods of Cultural Interest (Control) Order 2003, SI 2003/2759.It should be carefully noted at this stage that these provisions apply to ANY exportation of relevant cultural goods, whether or not the exporter happened to buy them at auction. But because auction sales, and in particular those at Sotheby’s, Christie’s, and (now) Bonhams, have historically a greater volume of such goods in issue than most, and their Conditions of Sale often refer in detail to the relevant controls, it has therefore been thought appropriate in previous editions to include a detailed conspectus of the relevant law. But it is the person exporting the goods who bears the responsibility to obtain any necessary licence, not normally the seller or his agent, the auctioneer (who may, of course, offer to help). This point is referred to again below in the context of the effect of the controls on the validity of sales.

The chapter sets out the rationale for and structure for this inquiry into Asian self-representation at World’s Fairs, or international expositions. Using a case-studies approach, the book will consider how independent Asian nations have sought to shape and control the ways in which they were represented at these events. China and Japan at the San Francisco Panama Pacific International Exposition in 1915 are the focus of the first two chapters, followed by Japan in at the 1939-1940 New York World’s Fair, and China at Expo ’88 in Brisbane. Other fairs and nations examined in the 100-year span of this inquiry include the 1964-1965 New York World’s Fair (the Philippines and Indonesia) and the 2015 Milan International Exposition (Thailand and Korea).

Abstract For more than twenty years since the Foreign Exchange Management Act was enacted in 1961, the Republic of Korea maintained strict capital controls to prevent capital flight and to allocate its limited foreign exchange resources to export and other strategic industries. But recognizing the inefficiency of these regulations and given the worldwide trend towards economic liberalization, Korea has been liberalizing capital account transactions since the early 1980s. In December 1994, it launched the Plan for Foreign Exchange System Reform to accelerate this process and to prepare for membership in the Organisation for Economic Co-operation and Development (OECD). The plan envisages a capital account regime that, by 2000, will be as liberal and open as those in industrial economies.

Chapter 3 covers U.S. government economic sanctions, which may be imposed upon entire countries (as embargoes), specified economic sectors, or individual state or nonstate actors. These comprise approximately thirty different programs that are governed principally by the International Emergency Economic Powers Act (IEEPA), various other sanctions legislation, and the regulations of the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). The chapter explains: which types of transactions are subject to the OFAC regulations; the basis and criteria for those restrictions; how to determine whether your transaction is prohibited without a license and, if so, whether you are likely to get a license for it; how to seek a license if one is required; and the potential penalties for violating the rules. The chapter also explains how the OFAC regulations relate to the regulatory regimes covered in other parts of the book.

Chapter 1 covers U.S. government controls on exports, reexports, and transfers of “U.S.-origin” goods, software, and technology that are commercial, “dual-use” (i.e., having both civilian and military uses), and low-level military in nature. These are governed principally by the Export Control Reform Act of 2018 and the Export Administration Regulations (EAR), which are administered by the Commerce Department’s Bureau of Industry and Security. The chapter explains: what kinds of items are subject to the EAR; the various bases for the EAR’s restrictions; how to determine whether your product or technology is covered and, if so, whether you will need a license to export or reexport it; how to get a license if one is required; how to clear and document the actual export; and the potential penalties for violating the rules. The chapter also explains how the EAR relate to the regulatory regimes covered in other parts of the book.

Although Nelson Rebanda—the archaeologist working for the electricity company (EDP) that was building a dam in the Côa river—probably discovered the first Côa Valley engraved surface with Palaeolithic motifs (the now well-known Rock 1 of Canada do Inferno) in November 1991, the find was only revealed to the public in November 1994 (Jorge 1995; Rebanda 1995). Subsequently, the first reports on ‘important archaeological finds in the Côa Valley’ started to appear in the newspapers. The Canada do Inferno engravings were located upstream and very near to the construction site of the Côa dam. The construction work advanced at a good pace and the completion of the dam would irremediably destroy the engravings. The public revelation of the find instantly triggered a huge controversy since the first specialists to visit the site immediately classified the engravings as being of Palaeolithic style. As a result of the media attention on the Côa and right after the broadcast of the first TV reports, a pilgrimage to the Côa Valley rock-art surfaces began. Reacting to the first news on an affair that was starting to be known as ‘the Côa scandal’, IPPAR (the state body that, at the time, was in charge of managing archaeology in Portugal) created, at the end of November 1994, a committee to follow the archaeological rescue work being done in the Côa. Nevertheless, and considering the serious problem created by the construction of the dam (and the construction work continued), it rapidly became evident that IPPAR was gradually losing control over the situation as it shifted to the public domain. In December 1994, IPPAR asked UNESCO for an expert opinion to challenge the efforts of EDP (the Portuguese Power Company responsible for the construction of the dam and at the time totally state owned) to demonstrate that the Côa findings were not of Palaeolithic chronology. Throughout 1995, this would be a crucial issue since some defended the position that, if the engravings were not Palaeolithic, their patrimonial value would not be very important and, therefore, the dam could be built!

Chapter 2 covers U.S. government controls on exports, reexports, and transfers of “U.S.-origin” goods, software, and technology, and the provision of services, that are military in nature. These are governed principally by the Arms Export Control Act of 1976 and the International Traffic in Arms Regulations (ITAR), which are administered by the State Department’s Directorate of Defense Trade Controls (DDTC). The chapter explains: which items are subject to the ITAR; the basis and criteria for the ITAR’s restrictions; the requirement to register with DDTC if you export or manufacture items subject to the ITAR or if you are involved in other activities regulated by the ITAR; how to determine whether your product or technology is covered and, if so, whether you will need a license to export or reexport it; how to get a license if one is required; how to clear and document the actual export; the potential penalties for violating the rules; and reporting requirements related to political contributions, fees, and commissions paid in connection with certain sales, . The chapter also explains how the ITAR relate to the regulatory regimes covered in other parts of the book.

The 1980s were marked by two seemingly antithetical tendencies in theorizing about states. On the one hand, a strong neo-liberal current connected with the rise of Thatcherism–Reaganism—which was deeply imbued with neo-classical economic assumptions—called into question the power or competence of states, suggesting that the states which governed best were those which governed least. Advocates of this position who attended to Third World development issues were particularly convinced that the rise of East Asian newly industrialized countries (NICs), such as South Korea and Taiwan, constituted evidence that states could best facilitate economic growth and development by maintaining open, export-oriented regimes in which markets were allowed to work unhindered (Balassa 1981; Little 1981; Bhagwati 1988). On the other hand, by the late 1980s, a school of neo-Weberian scholarship developed in direct response to this neo-liberal approach. Taking issue with the neo-liberals’ characterizations of East Asian economic growth, a series of these neo-Weberian scholars showed that state intervention in the economy was far more extensive than the neo-liberals had allowed, and that moreover such interventions seemed to have been successful in fomenting industrial transformation (Evans 1989; 1995; Amsden 1989; 1990; Wade 1990). The neo-Weberians raised telling arguments and evidence against the neo-liberal position, and it is perhaps a small but significant sign of their success that the World Bank grudgingly acknowledged not only the heavy presence of the state in East Asian industrialization but also some limited efficacy to that presence, especially in the financial sector (World Bank 1993; Amsden 1994; Wade 1996b). If this was a victory for the neo-Weberians, however, it may well prove pyrrhic now that the powerful East Asian growth dynamic has been slowed by forces that few states in the region appear willing or able to control. Indeed, and paradoxically perhaps, the more neoclassically inclined now seem to acknowledge the existence of ‘strong states’ in East Asia and use their existence not to explain economic success but rather to explain the economic crisis that spread through the region during 1997–8.

Organic production in the Republic of Serbia is controlled production, officially regulated by the Law on Organic Production ("Official Gazette of the Republic of Serbia", No. 30/10, 17/2019) that provided the legal basis for the adoption of regulations - Rulebook on control and certification in organic production and methods of organic production ("Official Gazette of RS", No. 095/2020) and the Rulebook on documentation submitting for certificate issuance by the authorized organization and organic products trading requirements ("Official Gazette of RS", No. 88/16). The Law on Organic Production regulates the production of agricultural and other products, goals, principles and methods of organic production and control, certification, processing, labeling, storage, transport, trade, import and export of organic products as well as other issues of importance for organic production. The provisions of the Act are applied to products originating from all stages of organic production - plant and livestock, including aquaculture products for market. Organic products are not considered to be products obtained by hunting and fishery. The system of organic products control in the Republic of Serbia was established in accordance to the European Union regulations- Council Regulation (EC) No 834/2007, Commission Regulation (EC) No 886/2008). On January 2021, these regulations will expire. The new Regulation of the European Parliament and the Council on organic production and labeling of organic products (Regulation (EU) 2018/848) will enter into force in order to respond to growing consumers demands and expectations.

If killing a single person is considered as a major crime that forbidden by Sharia and law at the international level and at the level of all religions and divine legislation, so what about the concept of genocide!! Here, not just an individual with a weak influence on society is killed, but thousands of individuals, that means an entire nation, a future, energy and human and intellectual capabilities that can tip the scales, and on the other hand, broken and half-dead hearts are left behind from the horrific scenes of killing they witnessed before their eyes, moreover, the massacres of genocide continues to excrete its remnants and consequences for long years and for successive generations, and it may generate grudges of revenge among generations that did not receive the adequate awareness and psychological support which are necessary to rehabilitate these generations to benefit from the tragedies and bitter experiences of life to turn them into lessons and incentives to achieve progress and advancement. Genocide is a deadly poison whose toxic effect extends from generations to others unless it is wisely controlled. Here the role of the international community and its legal, legislative and humanitarian stance from these crimes is so important and supportive. Genocide can be occurred on two levels: external and internal. As for genocide on the external level: this is what happened at the hands of foreign powers against a certain people for colonial and expansionist goals in favor of the occupier or usurper. There are many examples throughout history, such as the Ottoman and British occupations...etc Whereas genocide at the internal level, can be defined as the repressive actions that governments practice against their own people for goals that could be extremist, racist or dictatorial, such as t ""Al-Anfal"" massacre in 1988 carried out by the previous regime against the Kurds in the Kurdistan region. The number of victims amounted at one hundred thousand martyrs, most of them were innocent and unarmed people from children, women and the elderly, and also the genocide which was practiced against of the organizers of Al-Shaibania Revolution in 1991 was another example of genocide in the internal level. It is possible to deduce a third level between the external and internal levels, which is the genocide that is done at the hands of internal elements from the people of the country, but in implementation of external agendas, for example, the scenes of organized and systematic sectarian killing that we witnessed daily during (2007) and (2008), followed by dozens of bloody explosions in various regions throughout the capital, which unfortunately was practiced by the people of the country who were misguided elements in order to destabilize the security of the country and we did not know until this moment in favor of which external party!! In the three aforementioned cases, nothing can justify the act of killing or genocide, but in my personal opinion, I see that genocide at the hands of foreign forces is less drastic effects than the genocides that done at the hands of internal forces that kill their own people to impose their control and to defense their survival, from the perspective of ""the survival for the strongest, the most criminal and the most dictatorial. The matter which actually dragged the country into the abyss and the ages of darkness and ignorance. As for the foreign occupier, he remains an occupier, and it is so natural for him to be resentful and spiteful and to keep moving with the bragging theory of that (the end justifies the means) and usurping lands illegally, but perhaps recently the occupier has begun to exploit loopholes in international laws and try to gain the support of the international community and international organizations to prove the legitimacy of what has no legitimacy, in the end to achieve goals which pour into the interest of the occupiers' country and from the principle of building the happiness and well-being of the occupiers' people at the expense of the misery and injustice of other peoples!! This remains absolutely dehumanizing societal crime, but at least it has a positive side, which is maximizing economic resources and thus achieving the welfare of a people at the expense of seizing the wealth of the occupied country. This remains the goal of the occupier since the beginning of creation to this day, but today the occupation associated with the horrific and systematic killing has begun to take a new template by framing the ugliness of the crime with humanitarian goals and the worst, to exploit religion to cover their criminal acts. A good example of this is the genocide that took place at the hands of the terrorist organization ISIS, that contradictory organization who adopted the religion which forbids killing and considers it as one of the greatest sins as a means to practice the most heinous types of killing that contemporary history has witnessed!! The ""Spiker"" and ""Sinjar"" massacres in 2014 are the best evidence of this duality in the ideology of this terrorist organization. We may note that the more we advance in time, the more justification for the crimes of murder and genocide increases. For example, we all know the first crimes of genocide represented by the fall of Baghdad at the hands of the Mongol leader ""Hulagu"" in 1258. At that time, the crimes of genocide did not need justification, as they were practiced openly and insolently for subversive, barbaric and criminal goals!! The question here imposes itself: why were the crimes of genocide in the past practiced openly and publicly without need to justify the ugliness of the act? And over time, the crimes of genocide began to be framed by pretexts to legitimize what is prohibited, and to permit what is forbidden!! Or to clothe brutality and barbarism in the patchwork quilt of humanity?? And with this question, crossed my mind the following ""Aya"" from the Glorious Quran (and do not kill the soul that God has forbidden except in the right) , this an explicit ""Aya"" that prohibits killing and permits it only in the right, through the use of the exception tool (except) that permits what coming after it . But the"" right"" that God describes in the glorious Quran has been translated by the human tongues into many forms and faces of falsehood!! Anyway, expect the answer of this controversial question within the results of this study. This study will discuss the axis of (ideologies of various types and genocide), as we will analyze excerpts from the speeches of the former regime that were announced on the local media after each act of genocide or purification, as the former regime described at that time, but the difference in this study is that the analysis will be according to a scientific and thoughtful approach which is far from the personal ideology of the researcher. The analysis will be based on a model proposed by the contemporary Dutch scientist ""Teun A. Van Dijk"". Born in 1943, ""Van Dijk"" is a distinguished scholar and teaching in major international universities. He has authored many approved books as curricula for teaching in the field of linguistics and political discourse analysis. In this study, Van Dijk's Model will be adopted to analyze political discourse ideologies according to forty-one criteria. The analysis process will be conducted in full transparency and credibility in accordance with these criteria without imposing the researcher's personal views. This study aims to shed light on the way of thinking that the dictatorial regimes adopt to impose their existence by force against the will of the people, which can be used to develop peoples' awareness to understand and analyze political statements in a scientific way away from the inherited ideologies imposed by customs, clan traditions, religion, doctrine and nationalism. With accurate scientific diagnosis, we put our hand on the wounds. So we can cure them and also remove the scars of these wounds. This is what we seek in this study, diagnosis and therefore suggesting the suitable treatment "

This report has been written to serve as a history of the U.S. Aujeszky’s Disease (Pseudorabies) Eradication Program and as a guide when future disease eradication programs are considered. The report provides an overview of the program and its history and is generally nontechnical, with specific sections written by subject matter experts. The information was compiled during 2007, three years after the last four States qualified for Stage V (Free) Status. This eradication effort was formally initiated in 1989. The contents of this report include a variety of information that represents the viewpoints of individuals participating in the eradication effort. To introduce the challenge of pseudorabies (PRV), the report covers characteristics of the virus and the history of the disease in the United States, followed by the emergence of virulent strains in the 1970s that coincided with management changes in the swine industry. The report also discusses early attempts at PRV control, vaccines, and diagnostic tools, and then reviews various pilot projects, individual State experiences, and national debate on the pros and cons of eradication versus control. In addition, the report offers details on the evolution and acceptance of a national eradication program, including debate among industry and State/Federal officials, funding, testing protocols, cleanup plans, and the development of gene-deleted vaccines and their complementary tests. The ongoing threat of reintroduction from feral swine and emergency response plans are also included. Lastly, the technical coordinators have included a chapter on lessons learned from our various viewpoints on the eradication effort.

The coordination and regulation of growth and development in multicellular organisms is dependent, in part, on the controlled short and long-distance transport of signaling molecule: In plants, symplastic communication is provided by trans-wall co-axial membranous tunnels termed plasmodesmata (Pd). Plant viruses spread cell-to-cell by altering Pd. This movement scenario necessitates a targeting mechanism that delivers the virus to a Pd and a transport mechanism to move the virion or viral nucleic acid through the Pd channel. The identity of host proteins with which MP interacts, the mechanism of the targeting of the MP to the Pd and biochemical information on how Pd are alter are questions which have been dealt with during this BARD project. The research objectives of the two labs were to continue their biochemical, cellular and molecular studies of Pd composition and function by employing infectious modified clones of TMV in which MP is fused with GFP. We examined Pd composition, and studied the intra- and intercellular targeting mechanism of MP during the infection cycle. Most of the goals we set for ourselves were met. The Israeli PI and collaborators (Oparka et al., 1999) demonstrated that Pd permeability is under developmental control, that Pd in sink tissues indiscriminately traffic proteins of sizes of up to 50 kDa and that during the sink to source transition there is a substantial decrease in Pd permeability. It was shown that companion cells in source phloem tissue export proteins which traffic in phloem and which unload in sink tissue and move cell to cell. The TAU group employing MP:GFP as a fluorescence probe for optimized the procedure for Pd isolation. At least two proteins kinases found to be associated with Pd isolated from source leaves of N. benthamiana, one being a calcium dependent protein kinase. A number of proteins were microsequenced and identified. Polyclonal antibodies were generated against proteins in a purified Pd fraction. A T-7 phage display library was created and used to "biopan" for Pd genes using these antibodies. Selected isolates are being sequenced. The TAU group also examined whether the subcellular targeting of MP:GFP was dependent on processes that occurred only in the presence of the virus or whether targeting was a property indigenous to MP. Mutant non-functional movement proteins were also employed to study partial reactions. Subcellular targeting and movement were shown to be properties indigenous to MP and that these processes do not require other viral elements. The data also suggest post-translational modification of MP is required before the MP can move cell to cell. The USA group monitored the development of the infection and local movement of TMV in N. benthamiana, using viral constructs expressing GFP either fused to the MP of TMV or expressing GFP as a free protein. The fusion protein and/or the free GFP were expressed from either the movement protein subgenomic promoter or from the subgenomic promoter of the coat protein. Observations supported the hypothesis that expression from the cp sgp is regulated differently than expression from the mp sgp (Szecsi et al., 1999). Using immunocytochemistry and electron microscopy, it was determined that paired wall-appressed bodies behind the leading edge of the fluorescent ring induced by TMV-(mp)-MP:GFP contain MP:GFP and the viral replicase. These data suggest that viral spread may be a consequence of the replication process. Observation point out that expression of proteins from the mp sgp is temporary regulated, and degradation of the proteins occurs rapidly or more slowly, depending on protein stability. It is suggested that the MP contains an external degradation signal that contributes to rapid degradation of the protein even if expressed from the constitutive cp sgp. Experiments conducted to determine whether the degradation of GFP and MP:GFP was regulated at the protein or RNA level, indicated that regulation was at the protein level. RNA accumulation in infected protoplast was not always in correlation with protein accumulation, indicating that other mechanisms together with RNA production determine the final intensity and stability of the fluorescent proteins.

The War in the Pacific National Historical Park (WAPA), a protected area managed by the National Park Service (NPS), was established "to commemorate the bravery and sacrifice of those participating in the campaigns of the Pacific Theater of World War II and to conserve and interpret outstanding natural, scenic, and historic values on the island of Guam." Coral reef systems present in the park represent a vital element of Guam?s cultural, traditional, and economical heritage, and as such, are precious and in need of conservation. To facilitate the management of these resources, NPS determined that a scleractinian (stony coral) species survey was necessary to establish a baseline for existing coral communities and other important factors for conservation. EnviroScience, Inc. performed a survey of stony coral species, coral habitat, and current evidence of stressors at WAPA?s H?gat and Asan Units in 2022. This report summarizes these findings from a management perspective and compares its findings to previous survey data from 1977 and 1999 (Eldridge et al. 1977; Amesbury et al. 1999). WAPA is located on the tropical island of Guam, located on the west-central coast of the island, and encompasses 2,037 acres. Underwater resources are a significant component of the park, as 1,002 acres consists of water acres. The park is comprised of seven units, of which two of these, the H?gat and Asan Beach Units, include all the oceanic water acres for the park. The H?gat Beach Unit (local spelling, formerly known as ?Agat?) is located at the south-west portion of the park and consists of 38 land acres and 557 water acres (NPS 2003). The Asan Beach Unit consists of 109 acres of land and 445 water acres (NPS 2003). A current baseline for existing coral communities and other important factors for conservation necessitates the need for up-to-date data on the location, presence, relative abundance, and present health of corals. Park managers need this updated data to determine where and how to best focus conservation priorities and identify restoration opportunities. Management actions in park reef areas informed by this inventory included identifying locations where there were: high rates of sedimentation; high coral biomass; rare or threatened species, with a priority given to species endemic to Guam and listed as ?threatened? under the U.S. Endangered Species Act (ESA; Acropora globiceps, A. retusa, A. speciosa, and Seriatopora aculeata); coral persistence and decline, disease and/or nuisance species, including the crown-of-thorns starfish (Acanthaster cf. solaris, ?COTS?) and the sponge Terpios hoshinota; and bleached areas. All work carried out was in accordance with the NPS statement of work (SOW) requirements, which involved a quantitative inventory using both new and pre-existing transects. The resulting transects totaled 61 (including the four from the 1999 study), each measuring 50 meters in length and distributed across depths of up to 50 feet. Divers took photo-quadrat samples covering an area of approximately 9 m?, encompassing 50 photo-quadrats of dimensions 0.50 m x 0.36 m (n=50). The collective area surveyed across all 61 transects amounted to ~549 m?. Additionally, a qualitative search was conducted to enhance documentation of coral species that have limited distribution and might not be captured by transects, along with identifying harmful species and stressors. Timed roving diver coral diversity surveys were carried out at a total of 20 sites occurring within the waters of WAPA, including eight sites at the H?gat unit and 12 sites at the Asan unit. The findings from this report reveal significant disparities in benthic cover compositions between H?gat and Asan units. The H?gat unit exhibits high abundances of turf algae and unconsolidated sediment while the Asan beach unit presents a different scenario, with hard coral as the dominant benthic cover, followed closely by crustose coralline algae (CCA). The Asan unit is also more difficult to access from shore or boat relative to H?gat which provides that unit some protection from human influences. The Asan beach unit's prevalence of hard coral, CCA, and colonizable substrate suggests a more favorable environment for reef growth and the potential benefits of maintaining robust coral cover in the area. These distinct differences in benthic communities highlight the contrasting ecological dynamics and habitats of the two study areas. Across both H?gat and Asan beach unit transects, a total of 56 hard coral species were recorded from 27 genera, with 44 species recorded from the H?gat unit and 48 species recorded from the Asan unit. Of the four historical transects surveyed in the Asan unit from 1999, three experienced declines in percent coral cover (17.38-78.72%), while the fourth had an increase (10.98%). During the timed roving diver coral diversity surveys, a total of 245 hard coral species, including 241 scleractinian coral species representing 49 genera and 4 non-scleractinian coral species representing 4 genera were recorded. Uncertainties related to coral identification, unresolved boundaries between morphospecies, differences in taxonomists' perspectives, and the rapidly evolving state of coral taxonomy have significant implications for species determinations during coral diversity surveys. While the recent surveys have provided valuable insights into coral diversity in WAPA waters, ongoing taxonomic research and collaboration among experts will be essential to obtain a more comprehensive and accurate understanding of coral biodiversity in the region. Of the several ESA coral species that were searched for among the H?gat and Asan beach units, Acropora retusa was the only coral species found among quantitative transects (n=2) and A. globiceps was observed during coral diversity surveys. Acropora speciosa, which was dominant in the upper seaward slopes in 1977, is now conspicuously absent from all the surveys conducted in 2022 (Eldredge et al., 1977). The disappearance and reduction of these once-dominant species underscores the urgency of implementing conservation measures to safeguard the delicate balance of Guam's coral reefs and preserve the diversity and ecological integrity of these invaluable marine ecosystems. Other formerly common or locally abundant species were infrequently encountered during the diversity surveys, including Acropora monticulosa, A. sp. ?obtusicaulis?, A. palmerae, Stylophora sp. ?mordax?, Montipora sp. ?pagoensis?, and Millepora dichotoma. Significant bleaching-associated mortality was recorded for these species, most of which are restricted to reef front/margin zones exposed to moderate-to-high levels of wave energy. Sedimentation was present in both H?gat and the Asan units, though it was more commonly encountered in H?gat transects. While significant portions of the reef area within the WAPA H?gat unit are in poor condition due to a variety of stressors, some areas still hosted notable coral communities, which should be a potential focus for park management to prevent further degradation. There is a need for more effective management of point source pollution concerns, particularly when subpar wastewater treatment or runoff from areas with potential pollution or sediment-laden water is flowing from nearby terrestrial environments. Future monitoring efforts should aim to establish a framework that facilitates a deeper understanding of potential point source pollution incidents. This would empower park managers to collaborate with adjacent communities, both within and outside of park boundaries, to mitigate the localized impacts of pollution (McCutcheon and McKenna, 2021). COTS were encountered during transect surveys as well as in coral diversity surveys. including along the upper reef front/reef margin at site Agat-CS-2. The frequency of these observations, particularly in the WAPA H?gat unit and where stress-susceptible corals are already uncommonly encountered, raise concern about the ability of the populations of these coral species to recover following acute disturbance events, and calls in to question the ability of some of these species to persist in WAPA waters, and in Guam?s waters more broadly. More frequent crown-of-thorns control efforts, even if only a handful of sea stars are removed during a single effort, may be required to prevent further loss to vulnerable species. There were several documented incidents of Terpios hoshinota covering large sections of branching coral in the reef flat along transects, but it is still unclear how detrimental this sponge is to the overall reef system. There is a concern that elevated levels of organic matter and nutrients in the water, such as those resulting from sewage discharge or stormwater runoff, could lead to increased Terpios populations (De Voogd et al. 2013). Consequently, it is important to track populations in known areas of sedimentation and poor water quality. The presence of unique species at single survey sites within the study areas underscores the ecological importance of certain locations. Some species are known to occur in other locations in Guam, while a few may be limited to specific sites within WAPA waters. These differences are likely influenced by environmental and biological factors such as poor water quality, severe heat stress events, chronic predation by crown-of-thorns sea stars, disease, and reduced herbivore populations. These factors collectively shape the condition of the benthic community, leading to variations in species distribution and abundance across the study sites. Documenting coral stress and identifying potentially harmful species allows for proactive management strategies to prevent the establishment of nuisance or detrimental species while populations are still manageable. Updated data on the location, presence, relative abundance, and health of corals is essential for park managers to prioritize conservation efforts and identify restoration opportunities effectively. Observations from this report raise concerns about the health and resilience of coral ecosystems in the H?gat unit and emphasize the need for knowledge of local factors that shape benthic community structure. Understanding the drivers responsible for these variations is crucial for effective conservation and management strategies to preserve the ecological balance and overall health of coral reefs in both units. Continued monitoring efforts will be critical in assessing long-term trends and changes in benthic cover and enabling adaptive management approaches to safeguard these valuable marine ecosystems in the face of ongoing environmental challenges.

Fruit deterioration is a consequence of a genetically-determined fruit ripening and senescence programs, in which developmental factors lead to a climacteric rise of ethylene production in ethylene-sensitive fruits such as tomato and banana. Breeding of tomato with extended fruit shelf life involves the incorporation of a mutation in RIN, a MADS-box transcription factor participating in developmental control signalling of ripening. The RIN mode of action is not fully understood, and it may be predicted to interact with other MADS-box genes to execute its effects. The overall goal of this study was to demonstrate conservation of ripening control functions between banana and tomato and thus, the potential to genetically extend shelf-life in banana based on tools developed in tomato. The specific objectives were: 1. To increase the collection of potential RIN-like genes from banana; 2. To verify their action as developmental regulators; 3. To elucidate MADS-box gene mode of action in ripening control; 4. To create transgenic banana plants that express low levels of endogenous Le-RIN- like, MaMADS- gene(s). We have conducted experiments in banana as well as in tomato. In tomato we have carried out the transformation of the tomato rin mutant with the MaMADS1 and MaMADS2 banana genes. We have also developed a number of domain swap constructs to functionally examine the ripening-specific aspects of the RIN gene. Our results show the RIN-C terminal region is essential for the gene to function in the ripening signalling pathway. We have further explored the tomato genome databases and recovered an additional MADS-box gene necessary for fruit ripening. This gene has been previously termed TAGL1 but has not been functionally characterized in transgenic plants. TAGL1 is induced during ripening and we have shown via RNAi repression that it is necessary for both fleshy fruit expansion and subsequent ripening. In banana we have cloned the full length of six MaMADS box genes from banana and determined their spatial and temporal expression patterns. We have created antibodies to MaMADS2 and initiated ChI assay. We have created four types of transgenic banana plants designed to reduce the levels of two of the MaMADS box genes. Our results show that the MaMADS-box genes expression in banana is dynamically changing after harvest and most of them are induced at the onset of the climacteric peak. Most likely, different MaMADS box genes are active in the pulp and peel and they are differently affected by ethylene. Only the MaMADS2 box gene expression is not affected by ethylene indicating that this gene might act upstream to the ethylene response pathway. The complementation analysis in tomato revealed that neither MaMADS1 nor MaMADS2 complement the rin mutation suggesting that they have functionally diverged sufficiently to not be able to interact in the context of the tomato ripening regulatory machinery. The developmental signalling pathways controlling ripening in banana and tomato are not identical and/or have diverged through evolution. Nevertheless, at least the genes MaMADS1 and MaMADS2 constitute part of the developmental control of ripening in banana, since transgenic banana plants with reduced levels of these genes are delayed in ripening. The detailed effect on peel and pulp, of these transgenic plants is underway. So far, these transgenic bananas can respond to exogenous ethylene, and they seem to ripen normally. The response to ethylene suggest that in banana the developmental pathway of ripening is different than that in tomato, because rin tomatoes do not ripen in response to exogenous ethylene, although they harbor the ethylene response capability This study has a major contribution both in scientific and agricultural aspects. Scientifically, it establishes the role of MaMADS box genes in a different crop-the banana. The developmental ripening pathway in banana is similar, but yet different from that of the model plant tomato and one of the major differences is related to ethylene effect on this pathway in banana. In addition, we have shown that different components of the MaMADS-box genes are employed in peel and pulp. The transgenic banana plants created can help to further study the ripening control in banana. An important and practical outcome of this project is that we have created several banana transgenic plants with fruit of extended shelf life. These bananas clearly demonstrate the potential of MaMADS gene control for extending shelf-life, enhancing fruit quality, increasing yield in export systems and for improving food security in areas where Musaspecies are staple food crops.

Banco de la República is celebrating its 100th anniversary in 2023. This is a very significant anniversary and one that provides an opportunity to highlight the contribution the Bank has made to the country’s development. Its track record as guarantor of monetary stability has established it as the one independent state institution that generates the greatest confidence among Colombians due to its transparency, management capabilities, and effective compliance with the central banking and cultural responsibilities entrusted to it by the Constitution and the Law. On a date as important as this, the Board of Directors of Banco de la República (BDBR) pays tribute to the generations of governors and officers whose commitment and dedication have contributed to the growth of this institution.1 Banco de la República’s mandate was confirmed in the National Constitutional Assembly of 1991 where the citizens had the opportunity to elect the seventy people who would have the task of drafting a new constitution. The leaders of the three political movements with the most votes were elected as chairs to the Assembly, and this tripartite presidency reflected the plurality and the need for consensus among the different political groups to move the reform forward. Among the issues considered, the National Constitutional Assembly gave special importance to monetary stability. That is why they decided to include central banking and to provide Banco de la República with the necessary autonomy to use the instruments for which they are responsible without interference from other authorities. The constituent members understood that ensuring price stability is a state duty and that the entity responsible for this task must be enshrined in the Constitution and have the technical capability and institutional autonomy necessary to adopt the decisions they deem appropriate to achieve this fundamental objective in coordination with the general economic policy. In particular, Article 373 established that “the State, through Banco de la República, shall ensure the maintenance of the purchasing power of the currency,” a provision that coincided with the central banking system adopted by countries that have been successful in controlling inflation. In 1999, in Ruling 481, the Constitutional Court stated that “the duty to maintain the purchasing power of the currency applies to not only the monetary, credit, and exchange authority, i.e., the Board of Banco de la República, but also those who have responsibilities in the formulation and implementation of the general economic policy of the country” and that “the basic constitutional purpose of Banco de la República is the protection of a sound currency. However, this authority must take the other economic objectives of state intervention such as full employment into consideration in their decisions since these functions must be coordinated with the general economic policy.” The reforms to Banco de la República agreed upon in the Constitutional Assembly of 1991 and in Act 31/1992 can be summarized in the following aspects: i) the Bank was assigned a specific mandate: to maintain the purchasing power of the currency in coordination with the general economic policy; ii) the BDBR was designatedas the monetary, foreign exchange, and credit authority; iii) the Bank and its Board of Directors were granted a significant degree of independence from the government; iv) the Bank was prohibited from granting credit to the private sector except in the case of the financial sector; v) established that in order to grant credit to the government, the unanimous vote of its Board of Directors was required except in the case of open market transactions; vi) determined that the legislature may, in no case, order credit quotas in favor of the State or individuals; vii) Congress was appointed, on behalf of society, as the main addressee of the Bank’s reporting exercise; and viii) the responsibility for inspection, surveillance, and control over Banco de la República was delegated to the President of the Republic. The members of the National Constitutional Assembly clearly understood that the benefits of low and stable inflation extend to the whole of society and contribute mto the smooth functioning of the economic system. Among the most important of these is that low inflation promotes the efficient use of productive resources by allowing relative prices to better guide the allocation of resources since this promotes economic growth and increases the welfare of the population. Likewise, low inflation reduces uncertainty about the expected return on investment and future asset prices. This increases the confidence of economic agents, facilitates long-term financing, and stimulates investment. Since the low-income population is unable to protect itself from inflation by diversifying its assets, and a high proportion of its income is concentrated in the purchase of food and other basic goods that are generally the most affected by inflationary shocks, low inflation avoids arbitrary redistribution of income and wealth.2 Moreover, low inflation facilitates wage negotiations, creates a good labor climate, and reduces the volatility of employment levels. Finally, low inflation helps to make the tax system more transparent and equitable by avoiding the distortions that inflation introduces into the value of assets and income that make up the tax base. From the monetary authority’s point of view, one of the most relevant benefits of low inflation is the credibility that economic agents acquire in inflation targeting, which turns it into an effective nominal anchor on price levels. Upon receiving its mandate, and using its autonomy, Banco de la República began to announce specific annual inflation targets as of 1992. Although the proposed inflation targets were not met precisely during this first stage, a downward trend in inflation was achieved that took it from 32.4% in 1990 to 16.7% in 1998. At that time, the exchange rate was kept within a band. This limited the effectiveness of monetary policy, which simultaneously sought to meet an inflation target and an exchange rate target. The Asian crisis spread to emerging economies and significantly affected the Colombian economy. The exchange rate came under strong pressure to depreciate as access to foreign financing was cut off under conditions of a high foreign imbalance. This, together with the lack of exchange rate flexibility, prevented a countercyclical monetary policy and led to a 4.2% contraction in GDP that year. In this context of economic slowdown, annual inflation fell to 9.2% at the end of 1999, thus falling below the 15% target set for that year. This episode fully revealed how costly it could be, in terms of economic activity, to have inflation and exchange rate targets simultaneously. Towards the end of 1999, Banco de la República announced the adoption of a new monetary policy regime called the Inflation Targeting Plan. This regime, known internationally as ‘Inflation Targeting,’ has been gaining increasing acceptance in developed countries, having been adopted in 1991 by New Zealand, Canada, and England, among others, and has achieved significant advances in the management of inflation without incurring costs in terms of economic activity. In Latin America, Brazil and Chile also adopted it in 1999. In the case of Colombia, the last remaining requirement to be fulfilled in order to adopt said policy was exchange rate flexibility. This was realized around September 1999, when the BDBR decided to abandon the exchange-rate bands to allow the exchange rate to be freely determined in the market.Consistent with the constitutional mandate, the fundamental objective of this new policy approach was “the achievement of an inflation target that contributes to maintaining output growth around its potential.”3 This potential capacity was understood as the GDP growth that the economy can obtain if it fully utilizes its productive resources. To meet this objective, monetary policy must of necessity play a countercyclical role in the economy. This is because when economic activity is below its potential and there are idle resources, the monetary authority can reduce the interest rate in the absence of inflationary pressure to stimulate the economy and, when output exceeds its potential capacity, raise it. This policy principle, which is immersed in the models for guiding the monetary policy stance, makes the following two objectives fully compatible in the medium term: meeting the inflation target and achieving a level of economic activity that is consistent with its productive capacity. To achieve this purpose, the inflation targeting system uses the money market interest rate (at which the central bank supplies primary liquidity to commercial banks) as the primary policy instrument. This replaced the quantity of money as an intermediate monetary policy target that Banco de la República, like several other central banks, had used for a long time. In the case of Colombia, the objective of the new monetary policy approach implied, in practical terms, that the recovery of the economy after the 1999 contraction should be achieved while complying with the decreasing inflation targets established by the BDBR. The accomplishment of this purpose was remarkable. In the first half of the first decade of the 2000s, economic activity recovered significantly and reached a growth rate of 6.8% in 2006. Meanwhile, inflation gradually declined in line with inflation targets. That was how the inflation rate went from 9.2% in 1999 to 4.5% in 2006, thus meeting the inflation target established for that year while GDP reached its potential level. After this balance was achieved in 2006, inflation rebounded to 5.7% in 2007, above the 4.0% target for that year due to the fact that the 7.5% GDP growth exceeded the potential capacity of the economy.4 After proving the effectiveness of the inflation targeting system in its first years of operation, this policy regime continued to consolidate as the BDBR and the technical staff gained experience in its management and state-of-the-art economic models were incorporated to diagnose the present and future state of the economy and to assess the persistence of inflation deviations and expectations with respect to the inflation target. Beginning in 2010, the BDBR established the long-term 3.0% annual inflation target, which remains in effect today. Lower inflation has contributed to making the macroeconomic environment more stable, and this has favored sustained economic growth, financial stability, capital market development, and the functioning of payment systems. As a result, reductions in the inflationary risk premia and lower TES and credit interest rates were achieved. At the same time, the duration of public domestic debt increased significantly going from 2.27 years in December 2002 to 5.86 years in December 2022, and financial deepening, measured as the level of the portfolio as a percentage of GDP, went from around 20% in the mid-1990s to values above 45% in recent years in a healthy context for credit institutions.Having been granted autonomy by the Constitution to fulfill the mandate of preserving the purchasing power of the currency, the tangible achievements made by Banco de la República in managing inflation together with the significant benefits derived from the process of bringing inflation to its long-term target, make the BDBR’s current challenge to return inflation to the 3.0% target even more demanding and pressing. As is well known, starting in 2021, and especially in 2022, inflation in Colombia once again became a serious economic problem with high welfare costs. The inflationary phenomenon has not been exclusive to Colombia and many other developed and emerging countries have seen their inflation rates move away from the targets proposed by their central banks.5 The reasons for this phenomenon have been analyzed in recent Reports to Congress, and this new edition delves deeper into the subject with updated information. The solid institutional and technical base that supports the inflation targeting approach under which the monetary policy strategy operates gives the BDBR the necessary elements to face this difficult challenge with confidence. In this regard, the BDBR reiterated its commitment to the 3.0% inflation target in its November 25 communiqué and expects it to be reached by the end of 2024.6 Monetary policy will continue to focus on meeting this objective while ensuring the sustainability of economic activity, as mandated by the Constitution. Analyst surveys done in March showed a significant increase (from 32.3% in January to 48.5% in March) in the percentage of responses placing inflation expectations two years or more ahead in a range between 3.0% and 4.0%. This is a clear indication of the recovery of credibility in the medium-term inflation target and is consistent with the BDBR’s announcement made in November 2022. The moderation of the upward trend in inflation seen in January, and especially in February, will help to reinforce this revision of inflation expectations and will help to meet the proposed targets. After reaching 5.6% at the end of 2021, inflation maintained an upward trend throughout 2022 due to inflationary pressures from both external sources, associated with the aftermath of the pandemic and the consequences of the war in Ukraine, and domestic sources, resulting from: strengthening of local demand; price indexation processes stimulated by the increase in inflation expectations; the impact on food production caused by the mid-2021 strike; and the pass-through of depreciation to prices. The 10% increase in the minimum wage in 2021 and the 16% increase in 2022, both of which exceeded the actual inflation and the increase in productivity, accentuated the indexation processes by establishing a high nominal adjustment benchmark. Thus, total inflation went to 13.1% by the end of 2022. The annual change in food prices, which went from 17.2% to 27.8% between those two years, was the most influential factor in the surge in the Consumer Price Index (CPI). Another segment that contributed significantly to price increases was regulated products, which saw the annual change go from 7.1% in December 2021 to 11.8% by the end of 2022. The measure of core inflation excluding food and regulated items, in turn, went from 2.5% to 9.5% between the end of 2021 and the end of 2022. The substantial increase in core inflation shows that inflationary pressure has spread to most of the items in the household basket, which is characteristic of inflationary processes with generalized price indexation as is the case in Colombia. Monetary policy began to react early to this inflationary pressure. Thus, starting with its September 2021 session, the BDBR began a progressive change in the monetary policy stance moving away from the historical low of a 1.75% policy rate that had intended to stimulate the recovery of the economy. This adjustment process continued without interruption throughout 2022 and into the beginning of 2023 when the monetary policy rate reached 12.75% last January, thus accumulating an increase of 11 percentage points (pp). The public and the markets have been surprised that inflation continued to rise despite significant interest rate increases. However, as the BDBR has explained in its various communiqués, monetary policy works with a lag. Just as in 2022 economic activity recovered to a level above the pre-pandemic level, driven, along with other factors, by the monetary stimulus granted during the pandemic period and subsequent months, so too the effects of the current restrictive monetary policy will gradually take effect. This will allow us to expect the inflation rate to converge to 3.0% by the end of 2024 as is the BDBR’s purpose.Inflation results for January and February of this year showed declining marginal increases (13 bp and 3 bp respectively) compared to the change seen in December (59 bp). This suggests that a turning point in the inflation trend is approaching. In other Latin American countries such as Chile, Brazil, Perú, and Mexico, inflation has peaked and has begun to decline slowly, albeit with some ups and downs. It is to be expected that a similar process will take place in Colombia in the coming months. The expected decline in inflation in 2023 will be due, along with other factors, to lower cost pressure from abroad as a result of the gradual normalization of supply chains, the overcoming of supply shocks caused by the weather, and road blockades in previous years. This will be reflected in lower adjustments in food prices, as has already been seen in the first two months of the year and, of course, the lagged effect of monetary policy. The process of inflation convergence to the target will be gradual and will extend beyond 2023. This process will be facilitated if devaluation pressure is reversed. To this end, it is essential to continue consolidating fiscal sustainability and avoid messages on different public policy fronts that generate uncertainty and distrust. 1 This Report to Congress includes Box 1, which summarizes the trajectory of Banco de la República over the past 100 years. In addition, under the Bank’s auspices, several books that delve into various aspects of the history of this institution have been published in recent years. See, for example: Historia del Banco de la República 1923-2015; Tres banqueros centrales; Junta Directiva del Banco de la República: grandes episodios en 30 años de historia; Banco de la República: 90 años de la banca central en Colombia. 2 This is why lower inflation has been reflected in a reduction of income inequality as measured by the Gini coefficient that went from 58.7 in 1998 to 51.3 in the year prior to the pandemic. 3 See Gómez Javier, Uribe José Darío, Vargas Hernando (2002). “The Implementation of Inflation Targeting in Colombia”. Borradores de Economía, No. 202, March, available at: https://repositorio.banrep.gov.co/handle/20.500.12134/5220 4 See López-Enciso Enrique A.; Vargas-Herrera Hernando and Rodríguez-Niño Norberto (2016). “The inflation targeting strategy in Colombia. An historical view.” Borradores de Economía, No. 952. https://repositorio.banrep.gov.co/handle/20.500.12134/6263 5 According to the IMF, the percentage change in consumer prices between 2021 and 2022 went from 3.1% to 7.3% for advanced economies, and from 5.9% to 9.9% for emerging market and developing economies. 6 https://www.banrep.gov.co/es/noticias/junta-directiva-banco-republica-reitera-meta-inflacion-3