 Pietro Masci The Use of Guarantees: the Perspective of Borrowing Governments IFM Bullettin - november 1999
Governments in emerging and industrialized countries frequently use guarantee operations with limited transparency and disclosure.
Governments provide guarantees when, for example, the viability of
a public enterprise is threatened by unforeseen events and it does not have the credit worthiness to obtain loans or raise funds on the market.
Another example would be a guarantee for a private lender that is not willing to bear certain risks associated with infrastructure projects.
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(11/01/1999)
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