Contingent Liabilities for Infrastructure Projects : Implementing a Risk Management Framework for Governments
To manage their exposure arising from guarantees to infrastructure projects, governments need to adopt modern risk management techniques. The authors introduce an integrated risk management system that draws on recent advances in the private sector...
| Main Authors: | , |
|---|---|
| Format: | Viewpoint |
| Language: | English |
| Published: |
World Bank, Washington, DC
2012
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/1998/08/441602/contingent-liabilities-infrastructure-projects-implementing-risk-management-framework-governments http://hdl.handle.net/10986/11539 |
| Summary: | To manage their exposure arising from
guarantees to infrastructure projects, governments need to
adopt modern risk management techniques. The authors
introduce an integrated risk management system that draws on
recent advances in the private sector. Adapted for use in
the public sector, the system enables governments to budget
for expected losses and to set aside reserves against
unexpected losses, thus avoiding the budgetary stress
associated with redirecting scarce public resources to cover
a sudden increase in costs. |
|---|