Bolivia - First Programmatic Bank and Corporate Restructuring Program (BCRP)
Myroshnychenko, Yuri
Ratings for the First Programmatic Bank and Corporate Restructuring Program (BCRP) in Bolivia were as follows: outcomes were moderately satisfactory, the risk to development outcome was substantial, the Bank performance was highly satisfactory, and the Borrower performance was moderately satisfactory. Some lessons learned included: 1) The quality of the technical analysis underpinning a policy based operation is crucial to its success; 2) The existence of a well funded Bank Capitalization Fund to support bank structuring can be an effective stabilizing factor for the financial system; 3) Borrower ownership is difficult to maintain under changing political circumstances, but it is important to keep all necessary elements as part of the technical discussions in case the situation improves and unforeseen action do materialize; and 4) Policy based operations may require strong technical assistance as part of the supervision process.
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