Thank you, Kiran, for your thoughtful response. We are in favor of infrastructure that is "appropriate scale" for democratically determined purposes, wherever and however that is possible. We see that - at multiple levels - the quest to scale-up PPPs and bundle them into investment portfolios lacks key norms other than those protecting investors. At the G20, there are repeated failures to introduce normative thinking. This failure is more dangerous than the scale or the financing modality in my view. Regards, Nancy
These days, the International Monetary Fund’s policy recommendations – especially as they pertain to the advanced economies – have little impact. Although this is partly a consequence of more inward-looking national politics in richer countries, the Fund itself is not blameless.