Political Leadership-A Matter of Age 0 272

Political Leaders a Matter of Age

By: Dr. Kenneth De Zilwa

Perspective

Age has become an increasingly discussed topic when it comes to our political leaders (i.e. Parliamentarians), the arguments have been that we are unduly saddled with older politicians that make the parliament system meaningless as it prevents the infusing of young energetic and more progressive leaders in to governing the country. Well, yes this is definitely one aspect that is on the table and it seems to be the dominant view shared by many of whom are frustrated about the responsibility and accountability of these members albeit their ability to comprehend the demands of the younger generations. Therefore the proposers of this debate are eager for changing the status quo. On the other hand there are those who contend that age is just a number and the ability of the person irrespective of one’s age is what matters in a participatory democracy, for people have many routes to representation and redress.

In order to really get to the bottom of this debate we need to analyse and understanding the dynamics of the global public office and the trends in life expectancy.

Scrutiny of Public Office

The evolution of democracies has meant that parliaments are indispensable and now are deemed to be an integral part of the institutional framework that represents the people’s democratic choice. The choice of selection (be it liberal or conservative or its varying compositions) is of course based on their own perceptions of what the future should be transformed into considering the stage of its economy, social and environmental concerns and the overbearing global geopolitical trends. Irrespective of country-specific rules, the role of parliamentarians, (of both men and women), remains the same: to represent the people and ensure that public policy is informed by the citizens on whose lives they impact. If we look at the political context of each country we find a unique disposition in their selection process, however, parliaments and Parliamentarians do face a common challenge, that is, how best to consult citizens and keep them informed about parliamentary deliberations and how such deliberations would eventually shape the people’s lives (for better or worse, as public policy cuts both ways). What is important here is that the relative maturity of parliamentarians is called into focus, as the people are now looking for responsibility, accountability and also the bottom-line, of delivery.

The UNDP Global parliamentary study undertaken in 2012 indicated that there are 46,552 Members of Parliament (MPs) in the world. Of which there are 8,716 women parliamentarians, or 19.25 pct.  of the total number of MPs. While the global average number of parliamentarians per country is 245.China has the largest parliament with 3,000 members in the Chinese National People’s Congress. The world’s smallest parliament is in Micronesia, with just 14 MPs.  While the global average age of a male MPs is 53 the average age a woman MP is 50. Sub-Saharan African MPs have the lowest regional average age at 49 with Arab countries the highest at 55.

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Biznomics Note Pad 0 190

By Biznomics Research Team

Market Embraces Sri Lanka Sovereign Bond Issue

Sri Lanka raised USD 2.0 billion international sovereign bonds on the strength that IMF has endorsed the country’s economic performance, while the bonds having been rated by international rating agencies as “Non-Investment” grade. In fact Moodys attached “B2” rating while Standard and Poor’s and Fitch assigned “B” rating. The USD 500 million face value bond with 5-year maturity was raised at a semi-annual coupon rate of 6.35 percent while USD 1,500 million with 10-year maturity was raised with a semi-annual coupon rate of 7.55 percent. The Bonds were subscribed by 91 percent fund managers while 5 percent came from insurance and pension funds.

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Sri Lanka entered in to the international bond market in 2007 and the June 2019 issue was the 14th USD benchmark offering. This was also the country’s second sovereign bond transaction this year. The Government of Si Lanka raised USD 1 billion 5-year bond at a semi-annual coupon rate of 6.85 percent and a 10-year bond at a semi-annual coupon rate of 7.85 percent in March 2019.

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Sri Lanka has USD 17 billion ISBs as of June 2019 and account for nearly 50 percent of Government external debt.

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BiZnomics Global Out-front Comments Off on BiZnomics Global Out-front 133

Global-Outfront

President Trump offered to meet North Korean leader Kin Jong Un at the demilitarised zone following the G 20 Summit raised prospects for a third face to face meeting between the two leaders.

G -20 Osaka Summit 

14th G-20 Summit – a forum of 19 member countries and European Union was held in Osaka, Japan 28 -29 June 2019 with the participation of heads of G 20 Governments. International Monetary Fund, Asian Development Bank (ADB), International Labour Organization (ILO), Organization for Economic Corporation and Development (OECD), United Nations (UN), World Bank (WB), World Health Organization (WHO), World Trade Organization (WTO), represented in the summit by their respective heads of Institutions. 

Global-Outfront-01

Collectively G 20 nations represent more than 80 percent of global output and 2/3 of its people. Easing the global tension centred around US – China trade dispute, President Trump announced that he has agreed to allow US companies to sell high tech components to Chinese telecommunication giant Huawei. He also announced that China will buy more US farm goods. US President indicated that US will call off raising tariff on Chinese goods and negotiations to end the trade dispute between two countries will continue.

Prime Minister Abe who hosted the G 20 Summit explained that global leaders have affirmed free and fair and inclusive economy and open competition are the principals to lead the world economy in future.

Global-Outfront
Source: IMF Economic Outlook

 

 

Global Outfront
Source: IMF Economic Outlook

 

As estimated by IMF total GDP of G20 nations of nearly USD 60 trillion account for 78 percent of the world total GDP of USD 88 trillion. In terms of population, G20 nations is estimated to have 4.6 billion people in 2019 accounting for 61 percent of the world total population of 7.5 billion. China takes the lead with 31 percent and India accounts for 29 percent making two emerging nations in Asia having 60 percent of the population of G20 nation.

By: BiZnomics research team

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