Economic Stabilization Program

Implementation of reform agenda. Many public resource management reforms related to taxes or concessions, as in the SPBL, have political and economic implications and are often difficult to undertake without strong ownership. The SPBL implementation success resided in (i) a good understanding of the vested interests, (ii) the institutional capacity of government agencies, (iii) effective partnership and coordination between ADB and the government, and (iv) a strong sense of appreciation for the overall benefits of the program.