IMF Working Papers Volume 2009 Issue 144: The Effects of the Financial Crisison Public-Private Partnerships (2009)

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The Effects of the Financial Crisison Public-Private Partnerships

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International Monetary Fund

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Series:: IMF Working Papers

Volume/Issue:: Volume 2009: Issue 144

Language:: English

Publication Date:: 01 Jul 2009

DOI:: https://doi.org/10.5089/9781451872910.001

ISBN:: 9781451872910

ISSN:: 1018-5941

Pages:: 24

Keywords:: WP; PPP program; PPP Canada; PPP consortium; private sector; risk realization; PPPs; public investment; financial crises; value-for-money; PPP project; PPP vulnerability; PPP market; Public investment and public-private partnerships (PPP); Financial statements; Exchange rate risk; Market risk; Global

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Series:: IMF Working Papers

Volume/Issue:: Volume 2009: Issue 144

Language:: English

Publication Date:: 01 Jul 2009

DOI:: https://doi.org/10.5089/9781451872910.001

ISBN:: 9781451872910

ISSN:: 1018-5941

Pages:: 24

Keywords:: WP; PPP program; PPP Canada; PPP consortium; private sector; risk realization; PPPs; public investment; financial crises; value-for-money; PPP project; PPP vulnerability; PPP market; Public investment and public-private partnerships (PPP); Financial statements; Exchange rate risk; Market risk; Global

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

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The paper investigates the impact of the global financial crisis on public-private partnerships (PPPs) and the circumstances under which providing support to new and existing projects is justified. Based on country evidence, cost of and access to finance are found to be the main channels of transmission of the financial crisis, affecting in particular pipeline PPP projects. Possible measures to help PPPs during the crisis include contract extensions, output-based subsidies, revenue enhancements and step-in rights. To limit government's exposure to risk, while preserving private partner's efficiency incentives, intervention measures should be consistent with the wider fiscal policy stance, be contingent on specific circumstances, and be adequately costed and budgeted. Governments should be compensated for taking on additional risk.

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IMF Working Papers

ISSN:: 1018-5941

Publisher:: International Monetary Fund

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