Introducing the 31st edition of The PEP Weekly Digest, where we present to you the most recent updates and news on the global political stage.

Recent and upcoming elections influence the worldwide political landscape in eight nations, slated between December 17, 2023 and January 14, 2024. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

One noteworthy event has occurred in Chad, Succès Masra, an opposition figure, was announced as the new Prime Minister of the 5th Republic of Chad following a referendum. The announcement came as Saleh Kebzabo, the previous Prime Minister, had just resigned. The news was broadcasted live on national television, but the reactions within Masra’s political party, the Transformers in Ndjamena, and the streets of the capital were mixed. While supporters gathered at the Transformers party headquarters to celebrate, there were also voices of skepticism and disappointment among the populace. A resident of Ndjamena expressed both optimism and disappointment.

Shifting our focus to China, even as President Xi Jinping promised that Taiwan would be “reunified” with the mainland, China’s newly appointed Defence minister Dong Jun was making himself comfortable in the office of his predecessor, who disappeared after being ensnared in a scandal. After disappearing from public view in August, Li Shangfu was formally removed as Defence minister and as a CMC member on October 24. 2023, but no explanation has ever been given as to why. China’s 14th defence minister, Admiral Dong Jun, formerly commanded the People’s Liberation Army Navy (PLAN). His ascension was announced by the Standing Committee on 29 December 2023. Dong is not in the Central Military Commission (CMC) – the top body chaired by Xi that supervises all aspects of China’s military – and significantly he is the first naval officer to become defence minister. The role of the Defence minister is largely a ceremonial and diplomatic one, with no influence over the day-to-day affairs of the PLA. However, as a diplomat liaison, Dong will represent the PLA and CMC in interactions with foreign militaries.

In Germany, Wolfgang Schaeuble, who served as a member of the German parliament for over half a century, has died aged 81, ending one of Germany’s longest political careers in which he helped secure his country’s place at the heart of Europe. Schaeuble devoted much of his career to re-unifying his country and later served as former chancellor Angela Merkel’s finance minister during the eurozone debt crisis. He died peacefully late on Tuesday, a spokesperson for the centre-right Christian Democrats (CDU) said. Schaeuble was born in 1942 in the southern city of Freiburg and had been a member of parliament without interruption since 1972. “Germany has lost a formative Christian Democrat who loved to argue and yet never lost sight of what politics is all about: making life better for citizens,” said German Chancellor Olaf Scholz in a statement. As interior minister, Schaeuble, who represented the West, was key in drawing up the terms of Germany’s reunification treaty, signed in August 1990, after the fall of the Berlin wall.

In the realm of regulatory affairs, The National Bank of Ukraine (NBU) in December fined five banks – Oxy Bank, Accordbank, Universal Bank (mono), MTB Bank and Cominbank – for a total amount of over UAH 66.74 million, the regulator said on its website on Friday. The largest fine of UAH 20.05 million was imposed on Oxy Bank for improper verification of clients and their financial transactions, violations of financial monitoring, currency control and the bank’s obligation to use a risk-oriented approach in its activities. According to the release, Accordbank has to pay UAH 18.84 mln for improper risk management system and check of the payer for transfer of funds, submission of unreliable information by the bank to the regulator, as well as for violations in the sphere of currency legislation. Universal Bank was fined UAH 10.45 mln for improper customer verification, online monitoring and application of risk-oriented approach. Similar reasons caused almost the same fine – UAH 10.40 mln – to MTB Bank. The National Bank also fined Cominbank UAH 10m due to its late and incomplete submission of documents to the regulator regarding the bank’s compliance with the legislation on preventing money laundering.

Shifting our attention to legal advancements, a former senior official of the People’s Bank of China has received a long prison sentence for taking bribes, leaking state secrets and insider trading. A court in Tianjin sentenced Sun Guofeng, former head of the central bank’s monetary policy department, to 16 years and six months in jail. It sentenced Sun on July 27, but the prosecutor only revealed the news at a December 28 press conference, several media outlets reported.