Balancing act

Balancing act

Bonds Debt Loans Project & Infrastructure Finance Features Brazil Peru Colombia

Public-private partnerships are regularly billed as an answer to Latin America’s pressing infrastructure problems. PPPs open the sector to the expertise and financing savvy of the private sector, proponents say, and allow cash-strapped governments to focus often scant resources on projects in less developed areas. PPPs also speed up infrastructure investments that would otherwise take years and apply a fiscal discipline that is rarely seen in the public sector, supporters say.   Critics counter that PPPs invariably cost more than traditional public investments, even if they stretch the charges over long-term contracts. They may bring in other sources of financing and allow governments to spr

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