Public-Private Partnerships and the Government’s Balance Sheet
Posted by Tim Irwin[1]
Around the world, public-private partnerships (PPPs) are being used to build and maintain roads, hospitals, power plants, and many other kinds of valuable infrastructure. At the same time, they create problems for public financial management (PFM) because they often involve government guarantees or long-term payment commitments, which aren’t easy to manage using the traditional tools of PFM. Some of the steps that ministries of finance can take to solve these problems are the subject of a recently published IMF “How To” note, which grew out of work commissioned by the late Mario Pessoa.
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