Ruth Richardson: Sustainability of Financial Reforms in New Zealand

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Ruth Richardson, also known as the former Finance Minister in New Zealand shares some of the most valuable lessons she has learned as a reformer during this interview at the UFM's campus. 

First of all you gotta be bold, you get one shot at reform. There’s no point on wasting the opportunity".

Mrs. Richardson emphasizes on why change is always for the better. According to her, the toughest challenge a reformer has to face is to aim for a better future in the country and leave behind the necessity to win votes. She also shares what she thinks are the most important traits someone needs when facing new life lessons, in a personal and professional environment.

A reformer needs to seize the moment, and needs to come with energy, commitment, a seed of ideas that are gonna change the game."

Richardson then talks about the concepts behind the financial reforms that she led back in New Zealand, where reform was initially propelled by a crisis, the hard work it involves and the constant attention it needs from the people who work for it. How the reforms are a long build up, rather than a quick task. It takes people who are really committed to the future they want to see from the private and public institutions. 

If you want your economies to be competitive and efficient they have to be open to markets."

She shares about the sustainability and success of reforms, and how they have managed to keep on moving foward and secure a balanced budget to New Zeland. One of her conclusions is an invitation to other countries to work towards reforms so that other nations can enjoy the benefits, pointing out that each country is different but she believes changes can be done.  

Join Mrs. Richardson as she talks about the big changes that had to be done in New Zealand and how she never doubted the idea that turning into a market economy and freedom in all its forms will overcome the crisis.

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