{"id":5501,"date":"2024-12-10T12:11:15","date_gmt":"2024-12-10T11:11:15","guid":{"rendered":"https:\/\/www.rivistaeco.com\/?p=5501"},"modified":"2024-12-10T12:11:15","modified_gmt":"2024-12-10T11:11:15","slug":"around-the-world-7","status":"publish","type":"post","link":"https:\/\/www.rivistaeco.com\/en\/2024\/12\/10\/around-the-world-7\/","title":{"rendered":"Around the World"},"content":{"rendered":"

News from afar. Whilst these countries may seem distant, events there are crucial to understanding the direction of the world at large.\u00a0<\/span><\/i><\/p>\n

Georgia: Caught Between Europe and Russia<\/b><\/h3>\n

On October 26, Georgia heads to the polls amid a fraught political landscape, where crises have become the norm and tensions are running high. Repression of dissent and restrictions on freedom of assembly are intensifying against a backdrop of institutional conflict. An authoritarian, pro-Russian government is at odds with a largely symbolic yet pro-European president. Tbilisi has abstained from the sanctions regime, its EU integration process has stalled, and ties with the U.S. are strained. The opposition\u2019s campaign, branded with the slogan \u201cVote for Europe,\u201d seeks to underscore its contrast with the government. According to IMF data, the national deficit hovers close to $600 million, with borrowing costs at 8%. Despite this, the GDP in Q2 2024 grew by 9.6%, bolstered by the services sector and increased trade with Russia.<\/span><\/p>\n

Tunisia\u2019s Drift Toward Authoritarianism<\/b><\/h3>\n

Tunisia\u2019s recent elections concluded with Kais Saied re-elected as president, bringing the Mediterranean nation, crucial to Italy as a migration transit hub, back into focus. Saied has consolidated his hold on Tunisia\u2019s politics, which have grown increasingly authoritarian. In the lead-up to the elections, crackdowns on political opponents intensified, media and NGOs faced constraints, and the judiciary\u2019s independence was curtailed. Numerous political opponents, judges, and magistrates viewed as antagonistic to the regime have been detained, including the main opposition presidential candidate. Saied\u2019s newly signed constitution, heavily favoring him, shaped the early October presidential race. Tunisia\u2019s economic challenges are mounting: international funds are frozen due to stalled reforms, borrowing costs remain high at 8%, and August\u2019s inflation rate, at 6.7%, is impacting the country\u2019s most vulnerable.<\/span><\/p>\n

Sri Lanka\u2019s Quest for a New Path<\/b><\/h3>\n

Sri Lanka\u2019s September 21 election brought Kumara Dissanyake, a leader of the left-leaning People\u2019s National Power coalition, to the presidency with 42% of the vote. Closely aligned with China, this coalition secured victory following Sri Lanka\u2019s severe 2022 economic and political crises, effectively sidelining former President Wickremesinghe. Although economic stability has returned, the country faces persistent issues, such as a widening wealth gap. With interest rates at 8.5%, borrowing remains costly for businesses, and for the first time since March 1995, deflation has set in. On a positive note, tourism surged by 20.7% in August 2024 compared to the previous year.<\/span><\/p>\n

Romania\u2019s Disillusioned Electorate<\/b><\/h3>\n

Romania, too, is preparing for presidential elections this November and December. Former NATO Deputy Secretary-General Mircea Geoana, who resigned to run for president, is currently favored in some polls. Though previously the leader of the Social Democratic Party, which includes current Prime Minister Marcel Ciolacu, Geoana is now campaigning as an independent.<\/span><\/p>\n

Romania\u2019s democratic landscape, however, looks bleak. According to the Economist Intelligence Unit\u2019s annual democracy index, Romania ranks lowest among EU countries. Among Romanians aged 18 to 35, 78% express minimal or no confidence in the government, and 67% aim to leave the country temporarily or permanently, as reported by the Romanian Institute for Evaluation and Strategy. Economic indicators are also concerning: Romania\u2019s deficit is $3.3 billion, inflation stands at 5.1%, and GDP growth is sluggish.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

News from afar. Whilst these countries may seem distant, events there are crucial to understanding the direction of the world at large.\u00a0 Georgia: Caught Between […]<\/p>\n","protected":false},"author":5734,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"coauthors":[24],"class_list":["post-5501","post","type-post","status-publish","format-standard","hentry","category-non-categorizzato"],"acf":[],"yoast_head":"\nAround the World - Rivista Eco<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.rivistaeco.com\/en\/2024\/12\/10\/around-the-world-7\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Around the World - Rivista Eco\" \/>\n<meta property=\"og:description\" content=\"News from afar. 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