Statement at the Conclusion of the 2011 Article IV Mission to Myanmar

Description: 

"An International Monetary Fund (IMF) mission led by Ms. Meral Karasulu visited Nay Pyi Taw and Yangon during January 9–25, 2012 for the 2011 Article IV Consultation. The team met with the authorities and other key counterparts to discuss recent economic developments and the outlook for Myanmar. At the conclusion of the mission, Ms. Karasulu issued the following statement today in Nay Pyi Taw: ...?The new government is facing a historic opportunity to jump-start the development process and lift living standards. Myanmar has a high growth potential and could become the next economic frontier in Asia, if it can turn its rich natural resources, young labor force, and proximity to some of the most dynamic economies in the world, into its advantage. ?Delivering on these expectations with inclusive and sustainable growth should start with establishing macroeconomic stability. This process has already begun with plans underway to unify the exchange rate and lift exchange restrictions on current international payments and transfers. As this essential process continues, channeling the reform momentum to improving monetary and fiscal management and to structural reforms would allow taking full advantage of the positive effects of exchange rate unification..."

Source/publisher: 

IMF via "The New Light of Myanmar"

Date of Publication: 

2012-01-25

Date of entry: 

2012-02-01

Grouping: 

  • Individual Documents

Category: 

Language: 

English

Local URL: 

Format: 

pdf

Size: 

52.35 KB

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