Introducing the 40th 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 February 25, 2024 and April 04, 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 Bulgaria, The Bulgarian lawmakers on Wednesday unanimously approved the resignation of Prime Minister Nikolay Denkov and his government, part of a power-sharing agreement by the two main political parties after elections last year. The centre-right GERB party which won last April’s general election and the runner-up, the reformist coalition led by “We Continue the Change”, agreed that each would hold the top job for nine months at a time. Denkov, of the reformist coalition, is expected to be replaced by GERB’s Maria Gabriel, a former European Commissioner, who previously served as deputy head of government and foreign minister. Denkov, a chemistry professor and former education minister, will take Gabriel’s place as deputy prime minister. The two parties agreed to share power after elections last year in a bid to end a two-and-a-half-year-long political crisis, restore stability and spur economic development in the poorest member country of the European Union.

Shifting our focus to Ghana, the NPP Executive Committee of Juaboso Constituency has extended their warmest appreciation to President Akufo-Addo for the exceptional recognition he has given the constituency by appointing their parliamentary candidate, Dr. Alexander Ampaabeng as Deputy Minister of Finance. The New Patriotic Party (NPP) in the Juaboso constituency and the entire Western North region were thrilled about the appointment. Speaking to the media, the District Chief Executive for Juaboso, Godfred Kwabena Adjei Asante said the appointment of their candidate means so much to them since they are prepared to wrestle the parliamentary seat from the opposition National Democratic Congress (NDC).

In Finland, Alexander Stubb was sworn in on March 1 as Finland’s new president and said that the Nordic country “is facing a new era” after becoming a NATO member — something he will demonstrate by making his first foreign trip to inspect the military alliance’s drill in neighbouring Norway’s Arctic region. The 12-day NATO exercise is called Nordic Response and begins on Sunday. Mr. Stubb said that he will go for one day, on March 7. Alexander Stubb was sworn on March 1 as Finland’s new president and said that the Nordic country “is facing a new era” after becoming a NATO member — something he will demonstrate by making his first foreign trip to inspect the military alliance’s drill in neighbouring Norway’s Arctic region. The 12-day NATO exercise is called Nordic Response and begins on Sunday. Mr. Stubb said that he will go for one day, on March 7. Also read: Explained | On Finland’s journey to join NATO “If someone had told me two years ago that the president of Finland would make his first working visit to NATO exercises a week after his inauguration, I wouldn’t have believed it,” Mr. Stubb told reporters at a news conference in the seaside Presidential Palace in Helsinki following inauguration ceremonies. The 55-year-old former prime minister replaced President Sauli Niinistö, a highly popular leader who held the job for two six-year terms. Mr. Stubb, a conservative, was elected head of state in a narrow February 11 runoff victory against independent candidate and former Foreign Minister Pekka Haavisto of a left-leaning party.

In the realm of regulatory affairs, the New York State Department of Financial Services (NYDFS) fined cryptocurrency exchange Gemini Trust Company $37 million over alleged compliance failures related to lapses in safety and soundness. As part of a settlement, Gemini committed to return at least $1.1 billion to customers of its “Earn” program through bankruptcy proceedings for Genesis Global Capital, the NYDFS announced in a press release Wednesday. Gemini will also contribute $40 million to the Genesis bankruptcy for the benefit of Earn customers. In January 2023, the Securities and Exchange Commission charged Gemini and Genesis for failing to register their joint crypto lending product Earn. Months prior, the fallout from the collapse of crypto exchange FTX had a cascading effect on the industry and forced Genesis to lock customer accounts because of a lack of liquidity. It filed for bankruptcy shortly following the announcement of the SEC’s complaint.

Shifting our attention to legal advancements, in the United States, A former Luzerne County councilman pleaded guilty to harassment charges. Steve Urban was charged last summer after he chased a child with a baseball bat along North Prague Street in Kingston. Urban claimed he only came onto the porch with a bat to protect his family. He was sentenced to a year of probation after the altercation in Luzerne County.