News (145)

UN poverty expert warns against tsunami of unchecked privatisation

PSI welcomes this ground-breaking new report on "Extreme poverty and Human rights" which finds that "widespread privatisation of public goods in many societies is systematically eliminating human rights protections and further marginalising those living in poverty". "This report will certainly be helpful in pushing for an open debate at the UN on the impact of privatisation and whether PPPs are truly fit for purpose" says PSI General Secretary Rosa Pavanelli.

IMF Critical of UK Privatisation?

A new IMF study concludes that Britain’s underlying public finances are among the worst in the world, thanks to the cost of bailing out the banks after the financial crisis and because “the UK has done more to sell off public assets and consequently reduce the possible income from assets that could offset demands on the public purse” says The Guardian.

Source: The Independent

Report exposes how PPPs across the world drain the public purse, and fail to deliver in the public interest

Experts call for World Bank Group to end aggressive promotion of PPPs for public service provision. A new report exposing how public private partnerships across the globe have drained the public purse and failed to deliver in the public interest will be launched at the Annual Meetings of the World Bank in Bali this week (Wednesday October 10 at 1.30pm).

Source: eurodad.org

Kenya in major policy shift on support for PPPs

Over 70 projects being implemented under the public-private partnership framework in Kenya face an uncertain future, after a government decision to withdraw financial and risk guarantees. Despite a push by the government for the private sector to be actively involved in cash-intensive infrastructure projects, the National Treasury has unveiled a new policy that is bound to have far-reaching ramifications for PPP projects.

IL&FS crisis may sound death knell for PPP

The default crisis that has struck IL&FS (largest Indian shadow banks), flagbearer of the public-private partnership (PPP) programme, may be the last straw for this once-promising avenue of infrastructureNSE -3.24 % development, experts and executives said, adding that the government will have to take over that role once more. The private sector’s enthusiasm for investment in infrastructure has in any case been waning for some time now, they said.

The World Bank is urging the government to promote public-private collaboration

The World Bank is urging the government to promote public-private collaboration to foster “inclusive urbanization.” Stephanie von Friedeburg, chief operating officer at the World Bank Group's International Finance Corporation, “said during the 2018 Annual Meetings of the International Monetary Fund and World Bank that mayors and their local administrations could not face the challenges alone. (…) Von Friedeburg explained, while the government could enforce smarter regulations, the private sector could also finance infrastructure projects through instruments such as green bonds or public-private partnerships.” National Development Planning Board head Bambang Brodjonegoro advocated for “responsive” regulations. “Research organization McKinsey Global Institute director Jonathan Woetzel concurred, saying that technology could be a tool and an enabler to reduce negative externalities caused by urbanization.”

"The PPI fits into a vision for the state"

Retired general Oswaldo Ferreira, who is “tasked with debating infrastructure policy proposals for the campaign of Jair Bolsonaro (Social Liberal Party, PSL) campaign,” and is likely to be transportation minister should Bolsonaro win the elections, says “he would continue the Investment Partnerships Program (PPI) to help develop privatization projects. ‘The PPI fits into a vision for the state.’” Fernando Haddad, presidential candidate of Brazil's Workers' Party (PT), says that investors prefer his far right opponent because they see quick gains in the privatization of state companies that he would pursue.”

Local government authorities are moving away from public services outsourcing

A new report has revealed that local government authorities are moving away from public services outsourcing. “The survey of local government leaders, chief executives and mayors, published by the New Local Government Network (NLGN), found that 39% say they will outsource less over the next two years. It also showed that only 15% say they intend to outsource more over the next two years, while 46% indicate no change from current levels.” [Report: From Transactions to Changemaking: Rethinking Partnerships between the Public and Private Sectors]

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