Contingent Liability Management: A Study on India (Commonwealth Secretariat Debt Management Series)
The sharp increase in the contingent liabilities of many countries in recent years and the change in the nature of the financial burden of the fiscal authorities have been primarily attributed to the transformation of the role of the state from a supplier of certain services to a facilitator, where the state extends guarantee to the private sector for providing services.
Contingent liabilities featured prominently in the recent Asian crisis and stressed the need for countries to develop a f
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