But there are real limitations and even arguments against excessive reliance on "credit enhancements".
So, the Concedent Government should think twice if creditors are not willing to take volume or traffic risk. Or else, prepare to pay for a few white elephants.
Mariana Abrantes de Sousa
As you may read in Irwin's book on Government guarantees http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/04/13/000310607_20070413163547/Rendered/PDF/394970Gov0guar101OFFICIAL0USE0ONLY1.pdf
White elephant alert http://ppplusofonia.blogspot.pt/2010/05/grandes-obras-publicas-problema-ou.html