“Since the transition to democracy, Myanmar’s relations with the United States and European Union (EU) have warmed markedly, so that most sanctions imposed during the military dictatorship years have been lifted. So the IMF chief’s visit will help Myanmar improve its international image,” a government official told Eleven Media today.
“Myanmar is likely to get more assistance from the IMF during Mrs. Lagarde’s visit. And there will be important discussions with relevant officials on how the IMF can help Myanmar’s economic reforms,” she said.
The IMF’s managing director will visit Nay Pyi Taw and Yangon on December 6-7. She will meet with heads of state and senior officials, as well as with parliamentarians, women’s organizations, students, think-tank representatives, the private sector, and civil society organizations, according to the IMF.
Lagarde’s visit to Myanmar is part of the IMF chief’s first visit to three Asian countries. She will visit Myanmar after stops in Phnom Penh, Cambodia, on December 2-3, and Seoul, Korea, on December 4-5.
“I will visit three countries in different stages of transition—Korea, the world’s 13th largest economy; Cambodia, a frontier economy on the rise; and Myanmar, undergoing a great awakening to countless possibilities,” Lagarde said in a statement.
During her visit, Lagarde will meet with authorities including Vice-President Nyan Tun, Minister of Finance Win Shein and Central Bank of Myanmar Governor Kyaw Kyaw Maung. She is also scheduled to have a meeting with opposition leader Aung San Suu Kyi, IMF spokesperson Gerry Rice said.
The global lender’s chief will conclude her visit to Myanmar by participating in the Myanmar Women’s Forum, to highlight the role of women in the economy, and will also speak to students at the Yangon Institute of Economics, the IMF said in a statement.
The International Monetary Fund and World Bank have been expanding their relationship with the country formerly known as Burma since 2011, when the military government officially dissolved and the new government launched reforms that have included easing censorship and freeing political prisoners.
Myanmar has also taken economic reforms, including a decision to allow the national currency to float. In January, international lenders agreed to cancel nearly US$ 6 billion (Ks 5.88 billion) of Myanmar’s debt.
In May, the IMF estimated that Myanmar’s economy would expand by 6.75 percent in 2013-14, a notch up from the previous year, driven by gas production and investment in the resource-rich Southeast Asian nation.
source: Eleven Myanmar
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