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Board of Directors' Report (1999 Annual Report)
| Date: | April 2000 |
| Type: | Board Documents |
| Subject: | ADB administration and governance |
| Series: | Board of Directors' Report |
Description
In 1999, the Asian Development Bank (ADB) worked in a far brighter Asian economic environment than had been expected. Economic indicators mostly moved favorably, and confidence grew that the unprecedented events of 1997–1998 had been left behind. Most of ADB's developing member countries had better growth rates in 1999 than in 1998 and higher than forecast. Some progress was made in the necessary restructuring and reform of banks, capital markets, and regulatory regimes in the main crisis-affected countries, but financial recovery has largely preceded reform.
