Since the collapse of the Soviet Union, the Kyrgyz Republic has made significant progress in adopting market-based reforms, with private sector development as the key engine of growth. Nevertheless, growth has occurred largely from natural resource exploitation and remittances-backed private consumption.
For nearly 3 decades, Sri Lanka had been severely affected by an internal armed conflict. The entire country suffered but the Northern Province bore the brunt of the conflict. The conflict intensified from February 2007 and government forces gained full control in May 2009.
A 2007 study by the Asian Development Bank (ADB) identified the lack of macroeconomic stability, high costs of doing business, inadequate infrastructure, and weak investor confidence as the key binding constraints to sustained growth and poverty reduction in the Philippines.