Connect with us

Myanmar

Myanmar’s Five Economic Priorities

Myanmar’s successful by-elections and Aung San Suu Kyi’s landslide victory deservedly captured the international headlines a fortnight ago. But those headlines overshadowed an equally pathbreaking economic development.

Avatar

Published

on

Myanmar’s successful by-elections and Aung San Suu Kyi’s landslide victory deservedly captured the international headlines a fortnight ago. But those headlines overshadowed an equally pathbreaking economic development. The day the preliminary election results were announced, the government held Myanmar’s first foreign exchange auction at which the U.S. dollar was traded at 818 kyat. The official rate had been 8.5. The challenge now is to keep the reform momentum going without causing macroeconomic or political instability.

The exchange rate auction is part of a “managed float” that requires the central bank to intervene to keep the exchange rate between certain limits. Myanmar must institutionalize the process by developing an independent central bank, ensuring the foreign exchange auction becomes a permanent feature of the economy, and keeping the real exchange rate at a level that encourages the production of agricultural goods and manufactures.

 

The exchange rate reform was just the first salvo in what many anticipate will be a steady effort to overhaul the economy and build incentives and institutions for sustained and inclusive growth. In doing so, the government is receiving advice from the IMF, the World Bank, the Asian Development Bank, and the United Nations Development Program, as well as from many bilateral agencies (Japan, Australia, the UK, and Norway to name a few) and other external advisers.

The danger is not that Myanmar will do too little, but that it may be asked to do too much. And the government may be only too willing to oblige, especially if it believes that doing so will accelerate the removal of remaining sanctions or the elimination of external arrears (or both). A rush to reform may cause instability that could be seized upon by reform opponents to rewind the clock and go back to the bad old ways.

via Myanmar’s Five Economic Priorities – Carnegie Endowment for International Peace.

Comments

Cambodia

CLMV’s economic growth crashes to two-decade low due to COVID-19

The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year

Avatar

Published

on

The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.

(more…)
Continue Reading

India

Marketing and investment strategies in Myanmar, India

To encourage Thai SME operators to enter the international market, the Office of Small and Medium Enterprises Promotion (OSMEP) aims to urge them to invade Myanmar, Cambodian, Chinese and Indian markets.

National News Bureau of Thailand

Published

on

Marketing and investment strategies in Myanmar, India

BANGKOK, 26 July 2019 (NNT) – To encourage Thai SME operators to enter the international market, the Office of Small and Medium Enterprises Promotion (OSMEP) aims to urge them to invade Myanmar, Cambodian, Chinese and Indian markets.

(more…)
Continue Reading

Cambodia

Thailand pushes CLMVT as the “New Value Chain Hub of Asia”

The Ministry of Commerce, in cooperation with 11 relevant agencies, hosted the CLMVT Forum 2019 with delegates from Cambodia, Laos, Myanmar, Vietnam, and Thailand

National News Bureau of Thailand

Published

on

BANGKOK, 24 June 2019 (NNT) – Thailand’s Prime Minister, Gen. Prayut Chan-o-cha, today attended the opening of the CLMVT Forum 2019, and urged its member countries to push for the development of the CLMVT Regional Value Chain, so that they can have more bargaining power and improve the well-being of their citizens.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,625 other subscribers

Trending