Philippines

Management of Contingent Liabilities Arising from Public-Private Partnership Projects

Business & Finance, Accounting, Financial, Business Reference, Government & Business
Cover of the book Philippines by Asian Development Bank, Asian Development Bank
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Author: Asian Development Bank ISBN: 9789292576400
Publisher: Asian Development Bank Publication: December 1, 2016
Imprint: Asian Development Bank Language: English
Author: Asian Development Bank
ISBN: 9789292576400
Publisher: Asian Development Bank
Publication: December 1, 2016
Imprint: Asian Development Bank
Language: English

Given the rapid growth of the public-private partnership program (PPP), the Philippine government has initiated reforms to strengthen the framework for managing contingent liabilities arising from PPP projects. This study shows that major directions requiring further effort include (i) better pricing of government guarantees, (ii) adoption of methodology for quantification of contingent liabilities, (iii) setting prudential limits on PPP contingent liabilities, (iv) development of procedures for payment of materialized contingent liabilities from the national budget's unprogrammed fund, and (v) in the medium term, setting up a contingent liabilities fund financed through budget appropriations and contributions of project sponsors.

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Given the rapid growth of the public-private partnership program (PPP), the Philippine government has initiated reforms to strengthen the framework for managing contingent liabilities arising from PPP projects. This study shows that major directions requiring further effort include (i) better pricing of government guarantees, (ii) adoption of methodology for quantification of contingent liabilities, (iii) setting prudential limits on PPP contingent liabilities, (iv) development of procedures for payment of materialized contingent liabilities from the national budget's unprogrammed fund, and (v) in the medium term, setting up a contingent liabilities fund financed through budget appropriations and contributions of project sponsors.

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