Search: fiscal transparency
RBA Glossary definition for fiscal transparency
fiscal transparency – The facility which enables investors and other interested parties to satisfy themselves as to the nature and quality of the decision process pursued by policy-makers in government or the corporate entity concerned. One of the 12 key standards identified by the Financial Stability Forum as the minimum required for good practice in sound financial systems. Fiscal transparency strengthens accountability of the government and decreases the risk of maintaining unsustainable policies.
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What Happened?
1 May 1998
RDP
9805
The individual-country reserve figures may also miss co-ordinated intervention undertaken in support of currencies by (third party) monetary authorities or intervention that is funded through a country's fiscal ... The performance criteria on monetary
https://www.rba.gov.au/publications/rdp/1998/1998-05/what-happened.html
Why did it Happen?
1 May 1998
RDP
9805
decisions. Too many banks were owned by governments and became the ‘quasi-fiscal’ agents of governments, providing an oblique mechanism for channelling government assistance (off-budget) to ailing industries. ... Adding to these problems, the quality
https://www.rba.gov.au/publications/rdp/1998/1998-05/why-did-it-happen.html