Puerto Rico OBoard files status report ahead of T3 omni hearing tomm & it's a litany of failure: + Little consolidation of PR's 120 govt agencies as promised in fiscal plans + Proposed *increases* in pension payments + Years behind on audits #muniland
@15thFinCom met today to discuss chapters for report, discussed topics related to fiscal consolidation
In the short term, a detailed well communicated and credible medium-term fiscal consolidation plan is also important, alongside an increase in fiscal transparency, the IMF spokesperson said. @IMFNews
The topic of the meeting is ‘Final discussion on GDP growth, tax buoyancy of the Centre and the States, GST compensation, revenue deficit grant and fiscal consolidation’, an official statement said.
* Fitch Revises United States' Outlook to Negative ... “to reflect the ongoing deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan .. High fiscal deficits and debt .. have started to erode the traditional credit strengths of the US.”
Fitch cuts US rating outlook to negative from stable, citing ongoing deterioration in public finances and the absence of a credible fiscal consolidation plan. General govt debt is expected to exceed 130% of GDP by 2021, Fitch said. Rating affirmed at AAA.
JUST IN: S&P keeps outlook on India stable, lauds govt's fiscal consolidation drive
Let me emphasise (on) fiscal consolidation. We have met ambitious fiscal targets in each of the previous two fiscal years: PM @narendramodi