Excessive accumulation of wealth by government leaders

Other Names:
Hypocritical accumulation of personal wealth by rulers of countries
Corrupt acquisition of offshore assets by heads of state
Personal greed of government leaders
Excessive salaries of government leaders

In the case of a number of developing countries, life presidents, absolute rulers, senior civil servants, military leaders and other members of ruling elites have diverted funds intended for the acceleration of the development process (received in the form of aid grants and bilateral or multilateral loans). In many of these countries capital flight remains the greatest constraint on achievement of agricultural and commercial self-sufficiency. In 1990 the President of Zaire, who came to power in 1965, was estimated to have a amassed a personal fortune of $6 billion (including much real estate in Europe), although he only claimed $50 million. Studies by the World Bank have identified hundreds of millions of dollars unreported in the national budget of Zaire, and more gold and coffee smuggled out of the country than legally exported. Another expression of the problem in government-led countries of all persuasions, is of parliamentarians unilaterally increasing their salaries or benefits, for which the usual strength of oppositional debate is often lukewarm.

Related Problems:
Government hypocrisy
Related UN Sustainable Development Goals:
GOAL 8: Decent Work and Economic GrowthGOAL 12: Responsible Consumption and ProductionGOAL 16: Peace and Justice Strong InstitutionsGOAL 17: Partnerships to achieve the Goal
Problem Type:
D: Detailed problems
Date of last update
28.02.2022 – 06:41 CET