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Private Finance Projects And Off Balance Sheet Debt
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Author :Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs Publisher :The Stationery Office ISBN 13 :9780108459634 Total Pages :330 pages Book Rating :4.4/5 (596 download)
Book Synopsis Private finance projects and off-balance sheet debt by : Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
Download or read book Private finance projects and off-balance sheet debt written by Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs and published by The Stationery Office. This book was released on 2010-03-17 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: A report that recommends a reform of the way, financial liabilities arising from private finance projects (PFPs) are treated in public accounts. It also deals with the growth in the secondary market for PFPs where investors sell on their stake in a project, in many cases once the construction period of that project has been completed.
Author :Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs Publisher :The Stationery Office ISBN 13 :9780108459641 Total Pages :48 pages Book Rating :4.4/5 (596 download)
Book Synopsis Private finance projects and off-balance sheet debt by : Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
Download or read book Private finance projects and off-balance sheet debt written by Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs and published by The Stationery Office. This book was released on 2010-03-17 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report recommends a reform of the way financial liabilities arising from private finance projects (PFPs) are treated in public accounts. The Government should publish figures for total PFP liabilities as a separate item alongside figures for public sector net debt. The Committee believes that PFPs' whole life approach to projects, in which the private contractor is responsible for long-term maintenance as well as construction, can have benefits and could be adopted more widely in public procurement. PFPs' scope could be broadened to include the transfer of further risks to the private sector, including those of some mainstream services (for example, in the health and education sectors), rather than just ancillary services as at present. The report also deals with the growth in the secondary market for PFPs where investors sell on their stake in a project, in many cases once the construction period of that project has been completed. The Committee is concerned that the ability of construction companies to do this might negate one of the key advantages of PFPs over traditional procurement - that the developers have an ongoing responsibility for maintenance and are therefore motivated to use high quality materials and construction processes. The Committee queries some aspects of the value for money tests public authorities are required to undertake when comparing estimates of costs for PFPs with traditional procurement.
Book Synopsis Off-Balance Sheet Activities by : Joshua Ronen
Download or read book Off-Balance Sheet Activities written by Joshua Ronen and published by Bloomsbury Publishing USA. This book was released on 1990-11-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of Off-Balance Sheet Activities is to gain insights into, and propose meaningful solutions to, those issues raised by the current proliferation of off-balance sheet transactions. The book has its origins in a New York University conference that focused on this topic. Jointly undertaken by the Vincent C. Ross Institute of Accounting Research and New York University's Salomon Center for the study of Financial Institutions at the Stern School of Business, the conference brought together academic researchers and practitioners in the field of accounting and finance to address the issues with the broad-mindedness requisite of a group whose approaches to solutions are as different from each other as their respectively theoretical and applied approaches to the disciplines of finance and accounting. The essays are divided into two sections. The first covers issues surrounding OBS activities and banking and begins with a brief introduction that places the essays into context. OBS activities and the underinvestment problem, whether loan sales are really OBS, and money demand and OBS liquidity are examined in detail. Section two, which also begins with a brief introduction, focuses on issues of securitized assets and financing. A report on recognition and measurement issues in accounting for securitized assets is followed by three separate discussion essays. Other subjects covered include contract theoretic analysis of OBS financing, the use of OBS financing to circumvent financial covenant restrictions, and debt contracting and financial contracting. The latter two contributions are also followed by discussion essays. This unique collection of papers will prove to be an interesting and valuable tool for accounting and finance professionals as well as for academics involved in these fields. It will also be an important addition to public, college, and university libraries.
Book Synopsis Government Response to Report on Private Finance Projects and Off-balance Sheet Debt by : Great Britain
Download or read book Government Response to Report on Private Finance Projects and Off-balance Sheet Debt written by Great Britain and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mastering the Risky Business of Public-Private Partnerships in Infrastructure by : Manal Fouad
Download or read book Mastering the Risky Business of Public-Private Partnerships in Infrastructure written by Manal Fouad and published by International Monetary Fund. This book was released on 2021-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in infrastructure can be a driving force of the economic recovery in the aftermath of the COVID-19 pandemic in the context of shrinking fiscal space. Public-private partnerships (PPP) bring a promise of efficiency when carefully designed and managed, to avoid creating unnecessary fiscal risks. But fiscal illusions prevent an understanding the sources of fiscal risks, which arise in all infrastructure projects, and that in PPPs present specific characteristics that need to be addressed. PPP contracts are also affected by implicit fiscal risks when they are poorly designed, particularly when a government signs a PPP contract for a project with no financial sustainability. This paper reviews the advantages and inconveniences of PPPs, discusses the fiscal illusions affecting them, identifies a diversity of fiscal risks, and presents the essentials of PPP fiscal risk management.
Book Synopsis Off-balance sheet financing by : K. V. Peasnell
Download or read book Off-balance sheet financing written by K. V. Peasnell and published by . This book was released on 1988 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Project Financing by : Peter K. Nevitt
Download or read book Project Financing written by Peter K. Nevitt and published by . This book was released on 1995 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Project Financing by : Peter K. Nevitt
Download or read book Project Financing written by Peter K. Nevitt and published by . This book was released on 1989 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Project Financing and the International Financial Markets by : Esteban C. Buljevich
Download or read book Project Financing and the International Financial Markets written by Esteban C. Buljevich and published by Springer Science & Business Media. This book was released on 2007-08-27 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1970s, the practice of financing major private and public sector capital-intensive projects has shifted to an ever-greater reliance on private funding sources, as opposed to direct financing through the issuance of corporate or government bonds. In the 1990s, these financing practices have undergone further changes with the increasing globalization of capital markets, the growth of derivative instruments, and the rapid increase in information technology that enhances cash-management practices. Today's project financing market is increasingly using sophisticated capital market, bank and agency financing mechanisms as well as using derivative instruments for asset and liability management. Thus, financial market innovations are bringing the once separate fields of project financing and international finance more closely together. This is the first book to treat both topics as an interrelated whole, for contemporary project financing cannot be fully understood without a good working knowledge of the international financial markets that have developed the various financing techniques and funding sources being used. The book provides an in-depth description of cross-border project financing as a technique for financing capital-intensive projects, as well as an overview of certain financing and derivative instruments currently available in the global financial markets. The first part of the book provides an overview of certain funding and derivative instruments currently used in the international financial markets, including a general overview of financial innovations that have occurred in recent decades. Topics covered include an introduction to the syndicated Euro-credit market; an overview of various marketable debt securities actively used in the international financial markets; an introduction to depositary receipt as an innovative way of raising cross-border equity capital; an elaboration of the derivative instruments most commonly used in the project financing arena, including interest rate, currency and commodity swaps; and finally an overview of banks' off-balance sheet activities as a critical driving force for the participation of banks in the international financial and derivative markets. The second part of the book provides an in-depth analysis of project financing that concentrates on the financier's perspective. Topics covered include a general overview of the project financing industry; a step-by-step description of a typical cross-border project finance transaction; a description of the main characteristics and advantages of project financing as opposed to more traditional corporate lending practices; an overview of appraisal techniques for assessing project financing; a comprehensive analysis of the different risk management techniques used in project financing for reducing, distributing and hedging risks; and a brief overview of certain limited-resource financing schemes. The book includes a special focus on the various stages of the risk management process for project financing, elaborating on the different stages of risk identification, risk assessment, risk reduction, risk distribution and hedging and insurance. The authors also provide a comprehensive glossary of terms relating to international finance and project financing. This book will fulfill the need for an essential text on project financing as well as a professional reference guide.
Download or read book Hidden Debt written by Martin Melecky and published by World Bank Publications. This book was released on 2021-07-15 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 crisis, which has sent economies in South Asia and around the world into a deep recession, has highlighted South Asia’s rising debt levels and sizable hidden liabilities. State-owned enterprises, state-owned commercial banks, and public-private partnerships have been at the center of the rising debt wave and the latest pandemic response. Historically,South Asia has relied on these direct public interventions more than other regions. The interventions have helped governments tackle key development challenges and rapidly deliver relief measures during crises. However, because of their inefficiencies and weak governance, the interventions are also a significant source of public indebtedness and macrofinancial risks. Hidden Debt examines the trade-off between tackling development challenges through direct state presence in the market and avoiding unsustainable debt due to economic inefficiencies of such off†“balance sheet operations, which greatly leverage public capital. The study recommends a reform agenda based on the four interrelated principles of purpose, incentives, transparency, and accountability (PITA). The reforms can mitigate the risks that off†“balance sheet operations will become the source of the next financial crisis in South Asia.
Book Synopsis Public-private Partnership Projects in Infrastructure by : Jeffrey Delmon
Download or read book Public-private Partnership Projects in Infrastructure written by Jeffrey Delmon and published by . This book was released on 2011 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in infrastructure is critical to economic growth, quality of life, poverty reduction, access to education, healthcare, and achieving many of the goals of a robust economy. But infrastructure is difficult for the public sector to get right. Public-private partnerships (PPPs) can help; they provide more efficient procurement, focus on consumer satisfaction and life cycle maintenance, and provide new sources of investment, in particular through limited recourse debt. But PPPs present challenges of their own. This book provides a practical guide to PPPs for policy makers and strategists, showing how governments can enable and encourage PPPs, providing a step-by-step analysis of the development of PPP projects, and explaining how PPP financing works, what PPP contractual structures look like, and how PPP risk allocation works in practice. It includes specific discussion of each infrastructure sector, with a focus on the strategic and policy issues essential for successful development of infrastructure through PPPs.
Book Synopsis United Kingdom by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book United Kingdom written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2016-11-16 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report assesses fiscal transparency practices in the United Kingdom in relation to the requirements of the IMF’s new Fiscal Transparency Code (FTC). Across all pillars evaluated in the code, the United Kingdom scores very highly when compared with other countries that have undergone an assessment. Of the 48 principles in the FTC, the United Kingdom meets 9 principles at the basic level, 10 principles at the good level, and 23 principles at the advanced level. Fiscal transparency practices are strongest in the area of fiscal reporting and resource revenue management. In four principles, the United Kingdom’s transparency practices do not currently meet basic practice.
Book Synopsis Public-Private Partnership Projects in Infrastructure by : Jeffrey Delmon
Download or read book Public-Private Partnership Projects in Infrastructure written by Jeffrey Delmon and published by Cambridge University Press. This book was released on 2017-10-12 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Guides policy makers through implementation of public-private partnerships, legal frameworks, institutional arrangements, and mobilizing public and private finance.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215044129 Total Pages :52 pages Book Rating :4.0/5 (441 download)
Book Synopsis Equity investment in privately financed projects by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Equity investment in privately financed projects written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-05-02 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the risks and rewards for private equity investors in government private finance projects. The Private Finance Initiative (PFI) model has been used by governments in some 700 projects over the last 20 years but defects, including failures to demonstrate the value for money case satisfactorily, the use of long inflexible contracts and the costly contracting process, and inefficient pricing of equity have made continuing with the current model unsustainable. The Treasury is currently reviewing the PFI model. It needs to improve flexibility in the way that private finance is used, establishing quicker and more efficient procurement procedures and achieving a better balance between investors' risks and their rewards. Private finance should only be used where it secures real value for money for the taxpayer, not because of definitional statistical incentives to get projects off the balance sheet (only some 20% of long term PFI liabilities are recorded as debt in the national accounts). Business cases must be an unbiased and transparent assessment of the best form of procurement for the particular project being undertaken, taking account of expected tax receipts from alternative options and not adjusting assumptions to bias the outcome of the assessment. The Treasury needs to collect data on investors' experiences and use this information to assess and challenge investors' returns. There needs to be greater transparency over the pricing of contracts, and inefficiencies which add to the cost of private deals, such as long procurement times, need to be addressed.
Book Synopsis Cleaning-up Bank Balance Sheets by : José Garrido
Download or read book Cleaning-up Bank Balance Sheets written by José Garrido and published by International Monetary Fund. This book was released on 2016-09-08 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: To stabilize and bring down nonperforming loans (NPLs) in the Italian banking system, the Italian authorities have been implementing a number of reforms, aimed among others at speeding up insolvency and enforcement proceedings, strengthening bank corporate governance, cleaning up balance sheets, and facilitating bank consolidation. This paper examines the Italian banking system’s NPL problem, which ties up capital, weighing on bank profitability and authorities’ economic reforms. It argues for a comprehensive approach, encompassing economic, supervisory, and legal measures. The authorities’ reforms are important steps toward this end. The paper describes measures that could further support their actions.
Book Synopsis Trends in Public Investment by : Jenifer Wishart
Download or read book Trends in Public Investment written by Jenifer Wishart and published by . This book was released on 1987 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis OECD Multi-level Governance Studies Subnational Public-Private Partnerships Meeting Infrastructure Challenges by : OECD
Download or read book OECD Multi-level Governance Studies Subnational Public-Private Partnerships Meeting Infrastructure Challenges written by OECD and published by OECD Publishing. This book was released on 2018-11-12 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report focuses on the challenges of governing infrastructure investment and public-private partnerships (PPPs) at the subnational level. Subnational governments – cities and regions – play a vital role in the infrastructure landscape.
