Syndicate content

Uruguay

Pensioners Paying for Projects: A new meaning for PPP in Latin America?

Daniel Pulido's picture
Follow the author on Twitter: @danpulido
 
Public-Private Partnership (PPP) projects in infrastructure have traditionally been financed by banks. However, interest in new funding sources is increasing as long-term money from banks has become more difficult and expensive to get, while the assets held by pension funds and other institutional investors have continued to soar. In a context of low bond yields, pension funds are looking for attractive long-term investment opportunities to diversify their holdings and meet their long-term payment obligations. Realizing an opportunity to match supply and demand, governments and investors in the developed and developing world have turned their attention to Project Bonds, debt instruments issued by PPP project companies in the capital markets as a way to fund infrastructure investments.

These “Project Bonds” mostly target institutional investors - including pension funds, and have generated a great deal of interest among investment bankers, lawyers and investors. All this hype raises a number of questions: Are these “Project Bonds” really living up to expectations? Can governments really rely on Pensioners Paying for Projects (a newfound meaning for PPPs!)? What do we need to do to turn these instruments into a significant source of financing and close the infrastructure investment gap?

Low Growth as a Threat to Latin America’s Social Gains

Augusto de la Torre's picture

For almost a decade, the large emerging market economies, including several countries in Latin America and the Caribbean (LAC), have been regarded by analysts and investors as new engines of growth. The enthusiasm was further sparked when, after a short pause in 2009, emerging economies actually led the economic recovery in the world. A new story line seemed to dominate, that emerging market economies had finally arrived.

Compacts for Equality: Towards a Sustainable Future

Alicia Bárcena's picture
In every forum where the future of Latin America and the Caribbean is analyzed, the same question in different forms is often heard: how can the region sustain and expand on the important economic and social achievements made in recent decades in a context of deceleration and high global volatility, such as the current one?

How to Take Control of your Personal Finances

Rekha Reddy's picture


​Many of our aspirations revolve around improving our personal finances—keeping better track of spending, saving towards a goal or perhaps getting out of debt.  How can we work towards these goals and follow through on these changes? 

Latin America and the Caribbean: Back to Normal?

José Juan Ruiz Gómez's picture


The ritual publication by the leading multilateral organizations, think tanks and investment banks on the macroeconomic outlook for Latin America and the Caribbean which, without being too dramatic, puts an end to the era of growth rates above the region’s potential, has inevitably attracted the interest of policymakers, investors and the public in general.

Liberen Los Datos: Supporting Entrepreneurial Open Data Do-Gooders

Sandra Moscoso's picture

The open data community is chock-full of do-gooders. 
 
There are "open" data-driven applications that track government legislation in the US, tools that help calculate taxi fares in Bogota, Colombia, applications that track how tax payer funds are spent in the UK, the state of school sanitation in Nepal, and many more. 
 
It's clear that innovators are out there and full of terrific ideas about how to help their fellow citizens by harnessing public data. The question is, how can more of these projects follow examples like GovTrack and transition from hobby to successful, sustainable business models? And while there may be technical talent out there, what about entrepreneurial skills? How many data rockstars out there also have the "courage to create a business"?
 

Buenos Aires: How the Maldonado stream went back to its bed

Maria Madrid's picture
The case of the Maldonado stream: The voice of a citizen

Imagine a busy metropolitan avenue crossing the length of Buenos Aires, Argentina, transited daily by buses and trains and lined with a large hospital, medical buildings, schools, shops and businesses.

Now imagine for 27 years this avenue flooding severely 37 times as if it were a river. During a flood, envision people being evacuated in motorboats, cars practically floating downstream, and cars and pedestrians on the bridge above it having to remain stranded there until the waters on the avenue below receded. It sounds implausible doesn’t it? Not for Buenos Aires residents it didn’t. The Juan B. Justo Avenue was such a thoroughfare.

Targeting motorcycle users to improve traffic safety in Latin America

Anna Okola's picture


Motorcycle riders and passengers have long been vulnerable users of motorized transport. In the Americas, with the increasing ownership of motorcycles, given the ease and lower costs, this trend is worrisome as the number of vulnerable users as well as those impacted by traffic crashes increases, sometimes masking a shift from pedestrian or bicycle casualties to motorcycle victims. These trends would be similar in regions such as Africa which also share the motorcycle-taxi (mototaxi) phenomenon.

Big educational laptop and tablet projects -- Ten countries to learn from

Michael Trucano's picture
tablets loom increasingly large on the horizon in many places
tablets loom increasingly large
on the horizon in many places

[also available in Thai]

Recent headlines from places as diverse as Kenya ("6,000 primary schools picked for free laptop project") and California ("Los Angeles plans to give 640,000 students free iPads") are just two announcements  among many which highlight the increasing speed and scale by which portable computing devices (laptops, tablets) are being rolled out in school systems all over the world. Based on costs alone -- and the costs can be very large! -- such headlines suggest that discussions of technology use in schools are starting to become much more central to educational policies and planning processes in scores of countries, rich and poor, across all continents.

Are these sorts of projects good ideas? It depends. The devil is often in the details (and the cost-benefit analysis), I find. Whether or not they are good ideas, there is no denying that they are occurring, for better and/or for worse, in greater frequency, and in greater amounts. More practically, then:

What do we know about what works,
and what doesn't (and how?, and why?)
when planning for and implementing such projects,
what the related costs and benefits might be,
and where might we look as we try to find answers to such questions?

What’s getting in the way of Latin America becoming a food superpower?

John Nash's picture



The United Nations estimates that with the population reaching 9 billion by 2050, global food demand will double, with much of that growth in developing countries. 
 
While the gloom-and-doom predictions of Malthus and a long line of neo-Malthusians have failed to materialize, still, one does have to wonder how all those hungry mouths are going to be fed.
 
What will it take to ensure that the recent food crises do not become permanent features of the world of the future?  While countries in Latin America and the Caribbean are quite heterogeneous in their production potential, overall they are well equipped to contribute to meeting this challenge.


Pages