Out of the quagmire

Article Abstract:

By working with the World Bank the Philippines may have found a way past the dead end reached by the build-operate-transfer (BOT) arrangement the country pioneered. BOT has worked well since its 1991 inception, resolving the power crisis in three years, but new, large projects were threatened by both huge up-front costs and political risk. Manila officials have announced plans for a Private-Sector Infrastructure Development Fund that will tap global capital with the World Bank guaranteeing against political risk.

Infrastructure (Economics), Economic aspects

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Change at the top

Article Abstract:

Philippine Pres Fidel V. Ramos has announced Central Bank Gov Jose Cuisia's plans to resign from his position in 1993. Cuisia had earlier expressed his disenchantment with his position. Cuisia is reportedly accepting an offer to join the private sector after his resignation. Cuisia's resignation from his position is expected to result in some instability for the financial market in the Philippines.

Management, Officials and employees, Economic policy, Central banks, Philippines. Central Bank of the Philippines, Cuisia, Jose

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