Search

Displaying 1 - 6 of 6

Lesson
Adequate macroeconomic analysis and policy dialogue are essential to the sound formulation and quick mobilization of stakeholder support for an emergency economic response package under ADB's Countercylical Support Facility (CSF).

Project Number: 49083-001
Project Name: Countercyclical Support
Report Date:
Lesson
Instead of internally negotiating for the CSF loan to exceed the $500 million cap for each member country, an additional parallel programmatic support should have been explored by the project team to facilitate the quick processing and release of emergency budget support to Kazakhstan.

Project Number: 49083-002
Project Name: Countercyclical Support
Report Date:
Lesson
Crisis response operations can be more successful if the government has well- defined implementation arrangements and monitoring mechanisms to be successful, as was the case with the KCSL.

Project Number: 43300-013
Project Name: Countercyclical Support Loan
Report Date:
Lesson
The success of a financial crisis response is highly contingent on the government's ability to quickly put together its own anti-crisis plan. ADB intervention can be in the form of financing for the anti-crisis plan. In the case of the KCSL, the government already had its employment-generation program (EGP) in place, and was able to use the KCSL funds immediately to finance the EGP. However, since the KCSL is a budget support instrument, it is difficult to track and link the financing with specific development results (e.g., which public works project it funded).

Project Number: 43300-013
Project Name: Countercyclical Support Loan
Report Date:
Lesson
By not having any policy conditions other than the government's countercyclical expenditure programs, the Kazakhstan Countercyclical Support Loan (KCSL) was an effective and efficient instrument to respond to the financial crisis. While reforms to correct policy inconsistencies during crisis situations might be desirable, countries that are in the middle of financial crises would find it difficult to simultaneously undertake both crisis mitigation and reforms.

Project Number: 43300-013
Project Name: Countercyclical Support Loan
Report Date:
Lesson
ADB's business procedures for processing crisis response programs should be streamlined and abbreviated, as in the case of the Countercyclical Support Facility (CSF). This allows for crisis responses to be timely and prevent further deterioration of the economy.

Project Number: 43300-013
Project Name: Countercyclical Support Loan
Report Date: