Politics 03-08-2018

President and vice president of Bolivia renounce bank secrecy

Bolivian President Evo Morales and Vice President Álvaro García became the first dignitaries in the country to publish their accounts, after completing the procedures for waiving bank secrecy, according to the Financial Investigations Unit ( FIU).

"Both presidents have renounced bank secrecy, we have proceeded to comply with that request and, therefore, we are publishing these accounts at this time," UIF director Teresa Morales said at a press conference.

According to the data published by the UIF (www.uif.gob.bo), Morales had in January 2006, when he began to govern, a banking balance of 147,218 bolivianos (21,280 dollars), which rose last July to 406.391 bolivianos (some 58.389 dollars), without debts.

Garcia's accounts recorded, in the same period, 16,646 bolivianos (2,406 dollars) at the beginning of the mandate and 27,922 (4.011 dollars) last July, in addition to two mortgage debts for a total equivalent to 199.873 dollars.

The director of the FIU, who has no relationship with the president, said that both leaders initially renounced banking secrecy in 2009, but that, for reasons not explained, that decision did not materialize.

Morales and Garcia recently reiterated that decision, giving way to the publication.

For now, they are the only two names that appear in the "bank secrecy waiver" space on the FIU website.


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