Llanto.

• Position: Conferences - Brief Article

Llanto draws the attention of policymakers and legislators to the fiscal risk brought by the contingent liabilities arising from explicit or implicit government guarantees. He discusses the current attempt of the Philippine government to address this outstanding issue. His paper uses the experience of providing guarantees to infrastructure projects, which have given rise to large amounts of contingent liabilities, to illustrate the fiscal risk faced by the government. Drawing from existing literature (Lewis and...