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Brazil & Southern Cone - November 2014 (ISSN 1741-4431)

POLITICS: Campaign financing under the spotlight

Chile’s tax agency (Servicio de Impuestos Internos, SII) in October presented a legal request to investigate alleged irregular campaign financing by the investment bank Penta, part of the eponymous financial group. The scandal has shaken the political class, implicating not only the conservative opposition Unión Demócrata Independiente (UDI) but also raising uncomfortable questions for other political figures like President Michelle Bachelet’s former finance minister, Andrés Velasco (2006-2010), who ran as an independent in the November 2013 elections, and her current public works minister, Alberto Undeurraga. The renewed focus on the links between corporations and the political class has upped the pressure on the Bachelet government to make campaign financing more transparent.

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