An FECU of the Government of Chile: Why not?

An FECU of the Government of Chile: Why not?

Steve Ballmer, entrepreneur and former CEO of Microsoft, is the big promoter of the website www. USAfacts.org, which aims to integrate in one place all the official information of the more than 70 government agencies of the United States Government in order to analyze this immense amount of data and, in this way, provide transparency to Accounts of the country. An initiative well applauded by all American social groups although possibly much less celebrated by its leaders and political class.

In essence, the site makes available a format and content form very similar to the so-called 10-K reported by companies that trade securities in the United States whose equivalent in Chile is what is known by the acronym FECU. The site received a total of 2.6 million visits on its first day of operation giving tremendous support to the initiative seen by some skeptics as an eccentricity of its manager.

According to its creator, this “FECU gringa” contains everything that citizens need to know “without hyperbole and without omission”. It may seem an eccentric ambition, but in times of “post-truth” in which false or misrepresented information abounds along with a high degree of political dispersion, many Americans have shown themselves to be hungry and in need of objective information.

It is not about putting the government of a country on the same level as a company, since corporate governance could be a child’s play compared to the complex functioning of the State and its multiple agencies. However, as the information disclosed by financial statements, conflicts of interest, governance, risks and performance indicators is of vital relevance and interest to the market, it is one that allows citizens to assess how resources are managed Of all.

It would be truly “revolutionary” if such an initiative could be imitated in Chile. To make available to the citizens a FECU of the Government that groups information of multiple organs, services and state entities including others financed with fiscal resources. It would be a tremendous contribution that would make public scrutiny, accountability and the responsibility of those in charge of managing them a reality, issues that without quality information are simply impossible.

How different would be the assessment of citizenship with regard to politics and politicians if ideas such as these were part of those discussed or at least mentioned in the public debate. How different it would be.

Juan Pablo Bórquez Y.

Managing Partner BYAsesoría Estratégica

Jpb@byasesores.com

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