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Definition: Guarantees
Category: National accounts
In order to support a project, government may grant a guarantee to the debt of a nongovernment borrower, which may imply that government requires some specifications. This is fully covered by the current ESA95 and, except in some exceptional cases, such guarantees are considered as “contingent liabilities”, not recorded in the system. There should be no impact on government accounts as long as the call of guarantee is not observed, with the exception of some fees that could be levied by government. http://ec.europa.eu/eurostat/ramon/statmanuals/files/KS-BE-04-004-EN.pdf
Source:
Eurostat, "Long term contracts between government units and non- government partners (Public-private-partnerships)"; (2004 edition), Office for Official Publications of the European Communities, 2004, Luxembourg
Eurostat, "Long term contracts between government units and non- government partners (Public-private-partnerships)"; (2004 edition), Office for Official Publications of the European Communities, 2004, Luxembourg
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