Kiribati: Strengthening Fiscal Stability Program

Limit the policy matrix to a few critical actions. While Kiribati had an incentive to reform, the country also has limited reform capacity. It needs to focus on a few critical actions and to be clear on the development outcome of each prior action, including identifying an indicator that can be monitored. The requirement where the five largest SOEs were to submit audited accounts may have underestimated the institutional capacity that was required to achieve it.