Transcript
  • 00:01    |    
    Initial credits
  • 00:57    |    
    Presentation of Ruth Richardson by Mónica de Zelaya
  • 01:21    |    
    Introduction by Ruth Richardson
  • 03:47    |    
    Discipline of fiscal policy
    • Major source of destabilization
    • Legislation
    • Good budget practice
    • The legislative brief
    • Arguments for fiscal responsibility
  • 14:02    |    
    Reforms
    • Transparency
    • Balanced-budget amendment
    • A code of fiscal responsibility
  • 17:43    |    
    Fiscal responsibility
    • 1. Requires adherence to principles
    • 2. Ensures frequent publication
    • 3. Long term with real accountability
  • 20:42    |    
    Five principles
    • 1. Reduce public debt
    • 2. Maintain debt levels
    • 3. Net worth
    • 4. Fiscal risks
    • 5. Predictability
  • 26:16    |    
    Requirement to disclose
    • Fiscal strategy report
    • Economic and fiscal update
    • Balance sheet
  • 31:58    |    
    Disclosures
  • 35:13    |    
    Budget processes
  • 37:45    |    
    What has changed about behavior?
  • 39:54    |    
    Parliament
  • 40:52    |    
    The role of the public
  • 41:33    |    
    Results
  • 44:36    |    
    Government misbehavior
  • 45:56    |    
    Credibility
  • 46:13    |    
    Opinion about Guatemala
    • Political will
    • Involvement
  • 49:17    |    
    Final credits


Fiscal Responsibility

New Media  | 20 de junio de 1997  | Vistas: 2710

About this video

Ruth 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.



Credits

Fiscal Responsibility
Ruth Richardson

Universidad Francisco Marroquín
June 20, 1997

Digitization made by New Media - UFM. Guatemala, June 1997
Index: Lucía Bahr; synopsis: Sebastian del Buey; synopsis reviser: Daphne Ortiz; publication: Pedro David España




Conferencista

Ruth Richardson is former minister of finance of New Zealand. She…

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín