Politically Exposed Person (PEP) Weekly Digest – Volume 81

81st PEP Weekly Digest:

Introducing the 81th 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 Dec 01, 2024 and Feb 09, 2025. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Chrystia Freeland Resigns as Canada’s Deputy Prime Minister and Finance Minister

One noteworthy event has occurred in Canada, Chrystia Freeland stepped down as Canada’s Deputy Prime Minister and Finance Minister, dealing a severe blow to Prime Minister Justin Trudeau’s already faltering leadership. Ms Freeland, one of Trudeau’s most trusted allies, revealed the decision came after a disagreement with the Prime Minister over how to respond to US President-elect Donald Trump’s tariff threats. In her resignation letter, she said she and Trudeau were “at odds about the best path forward for Canada” and criticised Trump’s “aggressive economic nationalism.”

High-Profile Resignations Shake Dominican Republic’s Abinader Administration

Shifting our focus to Dominican Republic, the Abinader administration is rocked by a slew of resignations of high profile cabinet officers. Over the weekend, the resignations of Minister of Economy Pavel Isa Contreras and that of Deputy Administrative Minister of the Presidency Dilia Leticia Jorge Mera were known to the general public. Pavel Isa Contreras explained that his resignation is part of the ongoing activities to prepare for the merger of the Ministry of Economy with the Ministry of Hacienda. His resignation is effective 10 January 2025.

Vinay Kumar Appointed as Bihar’s Director General of Police (DGP)

In India, Vinay Kumar, an IPS officer from the 1991 batch, has been appointed as the Director General of Police (DGP) for Bihar, as announced by the state Home Department. Kumar, who previously held the post of Additional Director General (ADG) of the Crime Department, succeeds Alok Raj, a 1989-batch IPS officer, who had been serving as officiating DGP since August 30, 2024.

Argentina Faces FATF Scrutiny Over Anti-Money Laundering Framework

In the realm of regulatory affairs, Argentina remains under the spotlight of the Financial Action Task Force (FATF) after being placed on “enhanced follow-up,” a status requiring the country to report back to the organization in one year with evidence of improvements in its anti-money laundering (AML) regime. Although the FATF announced in October that Argentina had avoided being placed on the grey list, the country’s current status highlights ongoing challenges in addressing money laundering risks. President Javier Milei’s administration publicly celebrated the decision to avoid the grey list, as being included would have dealt a significant blow to Argentina’s economy, already strained by high inflation. However, the designation of “enhanced follow-up” indicates that the FATF believes Argentina’s AML framework still contains critical gaps.

Guinea Sentences Former Defence Minister for Financial Crimes

Shifting our attention to Guinea, a Guinean court sentenced a highly influential former defence minister to five years in prison for embezzlement, illicit enrichment, money laundering and corruption of public officials. Mohamed Diane served as a minister under then civilian president Alpha Conde from 2015 until 2021, when a military coup brought Guinea’s ruling junta to power. He is the latest of many former leaders, opposition figures and civil society members to be detained or brought before the courts. Diane, who has been in prison since 2022, is required to pay a fine of 505 billion Guinean francs (around $58.5 million) in damages to the Guinean state, according to the ruling from a special court for financial crimes (CRIEF).

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