Publication: Contingent Liabilities for Infrastructure Projects : Implementing a Risk Management Framework for Governments
Date
1998-08
ISSN
Published
1998-08
Author(s)
Lewis, Christopher M.
Mody, Ashoka
Abstract
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.
Citation
“Lewis, Christopher M.; Mody, Ashoka. 1998. Contingent Liabilities for Infrastructure Projects : Implementing a Risk Management Framework for Governments. Viewpoint. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/92297841-e9a0-538c-a7f5-73d766791ef3 License: CC BY 3.0 IGO.”
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