Money in politics in era of globalization and digitalization

While money is a key factor in politics, globalization and digitalization are changing the way politicians conduct their campaigns and how the public can monitor this process. Recent regional trends show an increase in foreign interference attempts, a growing role of the online environment and social media and an increased use of digital technologies for political financing and monitoring. Under these circumstances, it is important to strike a balance between finance and politics to ensure that the democratic process remains both transparent and fair for all citizens. Related issues were developed in a regional conference organized in Chisinau by the Central Election Commission, IPN reports.

CEC head Angelica Caraman said that as the world becomes more and more economically and technologically interconnected, the influence of money on political processes is more widespread and complex. “It is important to strike a balance between finance and politics to ensure that the democratic process remains both transparent and fair for all citizens. I encourage each of you to reflect on this problem and discuss possible solutions at this conference,” stated the official.

“My conviction is that the evolution of policies and politics in the state depends on the way the political parties are financed, how transparently and how correctly they are financed because I see a direct connection between the transparency or lack of transparency, the fairness and unfairness of a political party versus governance. I will simplify – those behaviors, old habits of illegal financing from inside, from outside, which existed and still persist, have a direct impact on the resilience of institutions and on democratic processes in the country,” said Parliament Speaker Igor Grosu.

Maaike Keizer, Deputy Ambassador of the Netherlands to Moldova, noted that political processes are important elements of democracy. “The Republic of Moldova is facing a series of challenges in this regard as a result of Russia’s hybrid war that affects the national space, national security, etc. The problem of financing of political parties is a bigger challenge today. The authorities must identify these phenomena and manage them correctly,” said the diplomat.

Falk Lange, Head of the Council of Europe Office in Chisinau, said that the online environment offers new opportunities, but also generates risks, associated with uncontrolled flows of money from abroad. And it is more difficult to track how this money is spent, and thus it is possible to influence the voters’ choice.

The participants in the event also said that the globalization and digitization of the financial sector are an even greater challenge in terms of tracing the origin of money. Lawmakers, watchdogs and civic groups around the world and in the region are looking for effective new regulatory approaches that ensure that online campaigns are protected from disinformation and foreign interference, that standards of equality between electoral contestants are respected, and that transparency of spending is respected.

The conference held on July 2-3 was co-organized by the Central Election Commission, the International Institute for Democracy and Electoral Assistance, the OSCE Office for Democratic Institutions and Human Rights, the Council of Europe, the International Foundation for Electoral Systems, the National Democratic Institute, the International Republican Institute, and the Westminster Foundation for Democracy.

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