Wednesday, 11 December 2013

IMF to provide financial techniques to Myanmar

YANGON - Myanmar was ranked second in the list of the countries to which the International Monetary Fund (IMF) would provide financial techniques, said Christine Lagarde, IMF’s managing director in a press conference on Saturday.

IMF has been assisting Myanmar to build macroeconomic stability and undertake financial reforms needed for creating sustainable economic and social prosperity.

Moreover, the IMF has advised Myanmar’s authorities on reforms such as adopting a floating exchange rate and removing exchange restrictions, establishing an autonomous central bank and significant increasing of spending on health and education.

The IMF is also creating the conditions necessary to ensure macroeconomic and debt sustainability.

"The next step is to build on these gains and take the path of sustained, strong and inclusive growth to lower poverty and lift the prospects of everyone in Myanmar," she said.

Christine Lagarde visited Cambodia, South Korea, and Myanmar and met with the government officials, departmental heads, members of parliaments, as well as the delegates from social organisations.

Her three-nation Asian trip started on December 2 and she visited Myanmar on December 6 after stops in Cambodia and South Korea.

During her visit, she met with Vice President Nyan Tun, Finance Minister Win Shein, Central Bank Governor Kyaw Kyaw Maung and other departmental heads in Nay Pyi Taw.

She attended the Women’s Forum 2013 on Saturday and stressed the significant macroeconomic benefits that can result from greater participation of women in the economy, including in Myanmar.

Moreover, she discussed matters on Myanmar’s reforms with Aung San Suu Kyi, chairperson of the National League for Democracy (NLD). The IMF’s managing director also met with the students from Yangon Institute of Economics and delivered a speech there and donated some economic books.

source: Eleven Myanmar

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