Russian Trade Unions Call for Reduction of Key Interest Rate
“The FNPR is receiving reports from trade union organizations acrossthe country indicating a growing trend of wage arrears.This process destabilizes the social environment and increases the number of labordisputes,” the statement reads.
According to the FNPR, the primary cause of delayed wage payments is the lack of working capital among enterprises.
Businesses are unable to access credit at economically viable interest rates, a situation resulting from the Central Bank’s monetary policy. In its attempt to combat inflation, the Bank of Russia has significantly raised the key interest rate, which, in turn, is freezing wage growth, increasing corporate debt, and leading to layoffs.“Russian trade unions call for a reduction of the key interest rate!” -the FNPR emphasized in its statement.
As of the end of April, the total amount of overdue wage arrears in Russia stood at 1.4819 billion rubles — an increase of 33.8 million rubles (2.3%) compared to March.
GCTU News
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Viktor Pinsky: GCTU Should Play a Leading Role in Organizing Trade Union Education in the CIS
Viktor Pinsky, Secretary General of the General Confederation of Trade Unions (GCTU), believes that the GCTU should take a leading role in developing a system for training, retraining, and upgrading the skills of personnel, exchanging experiences, and educating leaders and trade union activists across the Commonwealth of Independent States (CIS)
"We already have successful experience in organizing trade union education. This year over 400 people from six countries participated in the GCTU’s first two educational programs. The idea to launch such programs came directly from the requests of our member organizations. Internships are another in-demand format, especially among young people. They provide an opportunity to personally visit international organizations and see their work from the inside," said Viktor Pinsky.
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For trade unions, March 8 is not just a day of spring and renewal.
For trade unions, March 8 is not just a day of spring and renewal.
For trade unions, March 8 is not merely a day of spring and renewal. Above all, it is an opportunity to once again reflect on the role of women in the world of work and in global development as a whole. Today, women perform 55% of the world’s total labor. They work longer hours than men—by 6 to 13 hours per week—and still earn less: on average, women’s wages amount to 66–84% of men’s wages, depending on the country. There is objective evidence that the more a country values women’s labor and the smaller the gender pay gap, the more developed its economy. A special issue is the “invisibility” of women’s domestic and, as experts call it, reproductive labor. This is why trade unions should continue to fight for justice for working women.
I congratulate all women of the CIS, my colleagues in the parliamentary corps, and women in trade unions on International Women’s Day. I wish you justice, decent work, success, and prosperity!
Viktor Pinsky
General Secretary of the General Confederation of Trade Unions, Member of the State Duma
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General Confederation of Trade Unions Proposes Securing Trade Union Rights in Enterprise Bankruptcy
General Confederation of Trade Unions Proposes Securing Trade Union Rights in Enterprise Bankruptcy
The General Confederation of Trade Unions’ (GCTU) proposals are reflected in the draft CIS model law “On Cross-Border Insolvency and Bankruptcy.”
Trade unions must have the right to represent and protect workers’ interests in the bankruptcy of international companies, according to Viktor Pinsky, Member of the State Duma of the Russian Federation and General Secretary of the GCTU.