Since 1999 Cambodia has made significant headway in reforming public expenditure policy and management, yet in order to implement its development agenda, Cambodia will have to make much more progress on four principal fiscal, fiduciary, and institutional challenges. First, Cambodia will have to...

The Philippine authorities, confronted with an unfavorable governance and macroeconomic environment in 2001, established a consistent track record in 2001 in stabilizing the economy and improving investor sentiment. The unfolding developments in 2002-03, however, pose a threat to a still fragile...