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International Monetary Fund

Websites/Multiple Documents

Title: IMF Myanmar Page
Language: English
Source/publisher: International Monetary Fund (IMF)
Date of entry/update: 03 June 2003


Individual Documents

Title: IMF: May monitor Myanmar's economic progress under fund program
Date of publication: 21 November 2012
Description/subject: Washington - "The International Monetary Fund is near a deal with the Myanmar government for a program to monitor the country's economic plans as it struggles to reverse its place as one of the poorest countries in Asia. After decades of military rule and one of the worst human rights records in the world, the country of 48 million people is striving to remake itself as a democratic and open-market economy. To award and encourage the government in capital Naypyidaw, the country's largest international creditors are negotiating debt relief while Myanmar lawmakers build new political and economic institutions. The IMF said Wednesday that it had reached an understanding that could form the basis of a possible staff-monitored program during January-December 2013. There would be no financial assistance involved in the program..."
Author/creator: Ian Talley
Language: Engish
Source/publisher: "The Wall Street Journal"
Format/size: pdf (54K)
Date of entry/update: 21 November 2012


Title: Statement at the Conclusion of an IMF Staff Mission to Myanmar
Date of publication: 21 November 2012
Description/subject: "...“The government has made rapid strides over the last two years. The exchange rate regime has been changed from a peg to a managed float. The financial sector is being gradually modernized, starting with partial deposit rate liberalization and the relaxing of some restrictions on private banks. This year’s fiscal budget was debated in Parliament for the first time, yielding increased spending in critical areas such as health, education, and infrastructure. Laws to support the development goals of the government have been passed, including on land reforms, microfinance, and foreign investment. Discussions on clearing Myanmar’s external arrears are also progressing. “These reforms are already bearing fruit. Growth is expected to accelerate to around 6¼ percent in FY2012/13, bolstered by foreign investment in natural resources and exports of commodities. Inflation has declined rapidly and should remain moderate at around 6 percent next year. Meanwhile, the exchange rate has been stable in recent months, with international reserves increasing to US$4 billion. “Nevertheless, the government recognizes there is still a long way to go. Myanmar remains one of the poorest countries in Asia, with economic development stymied by many distortions..."
Language: English
Source/publisher: International Monetary Fund (IMF) Press Release No. 12/453
Format/size: html
Date of entry/update: 21 November 2012


Title: Statement by the Hon. WIN SHEIN , Governor of the Fund and the Bank for MYANMAR
Date of publication: 12 October 2012
Description/subject: "...Let me briefly reflect upon the recent macroeconomic situation of Myanmar and outline the Government’s programs and policies for economic reform going forward. Nowadays, Myanmar has embarked on democratic path in building a new nation through peaceful transition, while Myanmar has been endeavoring for the development of the country. The government, after assuming office in March 2011, has been implementing the reform measures in all aspects. As the first step of its reform strategy, the government prioritized political reform and national reconciliation process, which resulted prominent achievements, winning the stronger trust of the international community. In this process, we have maintained political stability, which is essential for macroeconomic and financial stability, and for sustained economic growth..."
Author/creator: Hon. WIN SHEIN
Language: English
Source/publisher: International Monetary Fund (IMF) Governor’s Statement No. 22
Format/size: pdf (81K-OBL version; 499K-original)
Alternate URLs: http://www.imf.org/external/am/2012/speeches/pr22e.pdf
Date of entry/update: 21 November 2012


Title: MYANMAR: STAFF REPORT FOR THE 2011 ARTICLE IV CONSULTATION
Date of publication: 02 March 2012
Description/subject: KEY ISSUES: Context: Political reconciliation is gaining traction. The main opposition party, National League for Democracy will contest the April by-elections; many political prisoners have been freed; and several ceasefire agreements with ethnic minorities have been signed. The economic reform momentum is strong. Growth and inflation are expected to accelerate modestly... Focus of the consultation: Consistent with past advice, the authorities are moving forward with reforms of the exchange rate system. Discussions centered on improving macroeconomic management to underpin these reforms, and on policies to foster broad-based economic growth... Key policy issues and recommendations: Priorities are establishing the market infrastructure for the planned move to a managed float, and monetary and foreign exchange policy capacity to complement plans to unify the exchange rates. Financial sector modernization remains essential to support the reform process and improve financial intermediation. Fiscal policy priorities include ending deficit monetization, reprioritizing spending, and increasing nonresource revenues for development spending within a medium-term fiscal framework. Structural reforms should aim to increase agricultural productivity, and foster private sector development... Exchange rate arrangement: Myanmar continues to avail itself of transitional arrangements under Article XIV, although it has eliminated all Article XIV restrictions. Myanmar maintains exchange restrictions and multiple currency practices subject to Fund approval under Article VIII. The exchange rate regime is classified as other managed arrangement.
Language: EnglIsh
Source/publisher: International Monetary Fund (IMF)
Format/size: pdf (545K-OBL version; 1MB-original)
Alternate URLs: http://www.imf.org/external/pubs/ft/scr/2012/cr12104.pdf
Date of entry/update: 21 November 2012


Title: Statement at the Conclusion of the 2011 Article IV Mission to Myanmar
Date of publication: 25 January 2012
Description/subject: "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..."
Language: English
Source/publisher: IMF via "The New Light of Myanmar"
Format/size: pdf (52K)
Alternate URLs: http://www.burmalibrary.org/docs13/IMF_statement-NLM2012-01-25.pdf
Date of entry/update: 01 February 2012


Title: Myanmar: IMF Credit Outstanding as of July 31, 2010
Date of publication: 31 July 2010
Language: English
Source/publisher: International Monetary Fund (IMF)
Format/size: html
Alternate URLs: http://www.imf.org/external/np/fin/tad/exportal.aspx?memberKey1=688&date1key=2010-07-31&cat...
Date of entry/update: 16 August 2010


Title: Efficiency Costs of Myanmar’s Multiple Exchange Rate Regime
Date of publication: August 2008
Description/subject: Myanmar’s multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The results of our model-based analyses indicate that the equilibrium exchange rate under the unified market could be at around K 400–500 per U.S. dollar, and using the equilibrium exchange rate (instead of the official exchange rate) as the accounting rate increases trade openness to more than 20 percent from less than 1 percent measured by official statistics. The total efficiency loss caused by the current multiple exchange rate regime is estimated at about 14–17 percent of GDP in 2006/07... JEL Classification Numbers: F31, H29... Keywords: Multiple Exchange Rate, Exchange Rate Unification, Efficiency Analysis
Author/creator: Masahiro Hori and Yu Ching Wong
Language: English
Source/publisher: IMF Working Paper WP/08/199
Format/size: pdf (295K)
Date of entry/update: 05 January 2009


Title: Myanmar—Staff Report for the 2007 Article IV Consultation— Informational Annex
Date of publication: 05 November 2007
Description/subject: The attached informational annex is being issued as a supplement to the staff report for the 2007 Article IV consultation with Myanmar (SM/07/347, 11/5/07) which is tentatively scheduled for discussion on Wednesday, November 28, 2007. At the time of circulation of this paper to the Board, the Secretary’s Department has not received a communication from the authorities of Myanmar indicating whether or not they consent to the Fund’s publication of this paper; such communication may be received after the authorities have had an opportunity to read the paper.
Source/publisher: International Monetary Fund
Format/size: pdf (47K)
Date of entry/update: 27 January 2009


Title: Myanmar—Staff Report for the 2007 Article IV Consultation—Debt Sustainability Analysis
Date of publication: 05 November 2007
Description/subject: The attached debt sustainability analysis is being issued as a supplement to the staff report for the 2007 Article IV consultation with Myanmar (SM/07/347, 11/5/07), which is tentatively scheduled for discussion on Wednesday, November 28, 2007. At the time of circulation of this paper to the Board, the Secretary’s Department has not received a communication from the authorities of Myanmar indicating whether or not they consent to the Fund’s publication of this paper; such communication may be received after the authorities have had an opportunity to read the paper.
Language: English
Source/publisher: International Monetary Fund
Format/size: pdf (66K)
Date of entry/update: 27 January 2009


Title: International Monetary Fund - World Economic Outlook Database October 2007 -- Myanmar
Date of publication: October 2007
Language: English
Source/publisher: International Monetary Fund
Format/size: pdf (26K), Excel (21K )
Alternate URLs: http://www.burmalibrary.org/docs6/weoreptc(1).xls
Date of entry/update: 27 January 2009


Title: Bullet points from IMF Article IV mission briefing, Sept 4 2007
Date of publication: 04 September 2007
Description/subject: "...In general the cooperation from the technical counterpoints was very good, even better than last year. • Continuing concerns about Govt capacity. Counterparts are suffering from lack of opportunity to interact with outside world, seen both in technical skills & morale. IMF will try to increase engagement at the technical level. • Macroeconomic picture is hard to judge given questions about Govt numbers. The economy is definitely growing, but only about 5%, not the 13% range as claimed..."
Language: English
Source/publisher: International Monetary Fund
Format/size: pdf (31K)
Date of entry/update: 27 January 2009


Title: Myanmar: Statistical Appendix
Date of publication: 27 January 2001
Description/subject: Full text
Language: English
Source/publisher: International Monetary Fund (IMF)
Format/size: PDF (789K)
Date of entry/update: 03 June 2003


Title: Myanmar: Recent Economic Developments
Date of publication: 10 December 1999
Language: English
Source/publisher: International Monetary Fund (IMF)
Format/size: PDF (3.20 MB)
Alternate URLs: http://www.imf.org/external/pubs/cat/longres.cfm?sk=3335.0
Date of entry/update: 16 August 2010