Ukrainians shocked as politicians declare vast wealth [View all]
Source: Reuters
An anti-corruption reform requiring senior Ukrainian officials to declare their wealth online has exposed a vast difference between the fortunes of politicians and those they represent.
Some declared millions of dollars in cash. Others said they owned fleets of luxury cars, expensive Swiss watches, diamond jewelry and large tracts of land - revelations that could further hit public confidence in the authorities in Ukraine, where the average salary is just over $200 per month.
Officials had until Sunday to upload details of their assets and income in 2015 to a publicly searchable database, part of an International Monetary Fund-backed drive to boost transparency and modernize Ukraine's recession-hit economy.
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The online declaration system is intended to represent a show of good faith that officials are willing to open their finances up to public scrutiny, to be held accountable, and to move away from a culture that tacitly allowed bureaucrats to amass wealth through cronyism and graft.
However, the public reaction has been one of shocked dismay at the extravagant lifestyles conjured up by many of the disclosures.
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Read more: http://www.reuters.com/article/us-ukraine-crisis-corruption-idUSKBN12V1EN
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