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  HOME | Chile

Chile Bill to Require Ex-Presidents to Submit Assets Declaration for Life

SANTIAGO – President Michelle Bachelet on Thursday submitted a bill to Congress that would amend the constitution to require anyone who has served as Chile’s head of state to continue to file a declaration of assets form after they have left office.

The legislation is part of a series of measures adopted to ensure the probity of public servants in the wake of recent corruption scandals affecting companies, politicians and Bachelet’s own son.

“Solutions must be at the institutional level to keep our democracy strong. The Chilean state is based on public trust, respect for institutions and that pact of trust must be renewed,” Bachelet said in unveiling the new measures at the presidential palace.

Those measures also include an instructive on best practices pertaining to declarations of assets held and interest accrued by public servants. The declarations must be “full, complete and accurate” and extend to all of the declarants’ professional and economic activities.

These declarations must be filed before April 30, 2015, and every year afterward.

The requirement applies to more than 4,000 public servants whose monthly salaries exceed 3 million Chilean pesos (some $4,700), including the head of the Chilean presidency’s network of foundations, a position held until a few weeks ago by Bachelet’s son, Sebastian Davalos.

Davalos resigned from that post in February after he was accused of influence peddling in connection with a roughly $10 million bank loan for a property purchase.

The loan deal was finalized after he met with a prominent Chilean banker.

 

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