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ARMANDO M. TETANGCO, JR.

This paper by Stefan Ingves and Goran Lind makes a detailed presentation of how the Swedish authorities dealt with the banking crisis in the early 1990s and provides an excellent account of the issues involved and the restructuring and support strategy that was implemented by the government. The paper can usefully serve as a manual for formulating and executing a bank restructuring program. This is not to say that there is one single approach to restructuring. Judgment and flexibility are clearly important, particularly because conditions vary across countries

Stefan Kawalec

We would like to present to you the principles of the bank restructuring program designed at Poland’s Ministry of Finance. We will concentrate on the distinctive characteristics of the program as well as its controversial features, which were the subject of the most heated disputes. Before presenting the program itself, however, we would like to say a few words about the environment in which it is being implemented. The bank restructuring program was introduced as part of the broadly instituted reform of the Polish financial sector. This reform started in

International Monetary Fund
This paper assesses Cambodia’s 2001 Article IV Consultation and Fourth Review Under the Poverty Reduction Growth Facility (PRGF). The PRGF-supported program approved in October 1999 aims at sustaining economic growth, reducing poverty, and accelerating economic reconstruction. In the first two years of the program, significant progress has been made. Priority structural policies for the third year of the PRGF arrangement focus on improving tax and customs administration, enhancing expenditure management, and continuing the bank restructuring program—including reform of the publicly owned Foreign Trade Bank.