About this videoRuth Richardson talks about fiscal responsibility and the discipline that is needed in order to have a stable and efficient fiscal policy. She shares various professional anecdotes that took place during her years as New Zealand Minister of Finance and shares the strategies she successfully applied. According to Richardson, fiscal responsibility identifies the characteristics of a good fiscal policy, ensures frequent publication of proper financial accounts and gives a real long-term accountability. She also lists five principles which need to be applied in order to be fiscally responsible. Reducing public debt levels and maintaining them in balance over time are two of them. Furthermore, she points out that, although Guatemala has the knowledge of how fiscal responsibility can be achieved, it lacks the will and the involvement of the population. |
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CreditsFiscal Responsibility
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