Biggest Debtors and Creditors Among MPs and Ministers Named

MP Tõnis Palts (Postimees/Scanpix)
8/4/2014 3:41 PM
Category: Politics

A daily has crunched the numbers in officials' declarations of economic interest for 2013 and identified the biggest lenders and borrowers, investors and donors among ministers and MPs.

The biggest borrower, according to daily Eesti Päevaleht, is MP Tõnis Palts, who has received 1,700,000 euros - these being mainly bank investment loans. In general, many MPs and ministers have mortgages on their personal balance sheet, which of course tend to be sizable compared to other types of loans.

The biggest lender is Lembit Kaljuvee, an MP who does not belong to any party. He lent his son 500,000 euros to resuscitate a fishery company, mainly from dividends Kaljuvee had earned over the years from Kunda Trans. He also lent 20,000 euros to an acquaintance who later became an MP.

The biggest benefactor is Agriculture Minister Ivari Padar, who gave 22,000 euros to the non-profit MTÜ Johannes Mihkelsoni Keskus, an employment training center.

The minister with the most investments is Education Minister Jevgeni Ossinovski (approximately 100,000 euros). Besides Tallinn Vesi and equity from now-bankrupt Elcoteq, that sum is in five funds or individual stocks in Moldova, Bulgaria and the US. The only other minister with equity and fund investments was Finance Minister Jürgen Ligi (Reform). In general, MPs from the Reform Party tend to be the biggest investors.


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