Privatisations, today known by the euphemism of public private partnerships, started in Brazil in the 1990s to overcome inefficient public services. Known as the National Privatization Program (PND), the plan earned $40bn between 1990 and 2009.
But not all privatisations are the same. Some, in fact, require a lot of government backing – and footing the bill if the private sector gets its sums wrong. Continue reading »