The outcome of the Economic and Financial Adjustment loan was assessed as satisfactory with a likely sustainability. Key lessons learned are: a) a good counterpart can be created; b) the importance of maximizing reform commitments at a peak of a crisis; c) reasons why governments might carry through unpopular reforms; d) drafting legislation benefits from broad participation of stakeholders; e) currency declines do not automatically dictate a tight fiscal stance; f) the Bank's deliberations with the International Monetary Fund - economists need to have sufficient time to focus on general macroeconomic issues; and g) pressing technical assistance requirements call for flexible and shorter procurement processes.
Details
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Document Date
1999/07/26
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Document Type
Implementation Completion and Results Report
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Report Number
19244
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2010/06/18
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Disclosure Status
Disclosed
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Doc Name
Thailand - Economic Financial Adjustment Loan Project
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Keywords
Adjustment loans; Corporate debt
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Citation
Thailand - Economic Financial Adjustment Loan Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/873751468334298832/Thailand-Economic-Financial-Adjustment-Loan-Project