Myanmar has four currency rates, no credit rating, and a shiny new stock exchange that doesn’t yet trade.
Those are some pieces of the financial puzzle that Aung San Suu Kyi’s National League for Democracy inherited when it took control of Parliament on Feb. 1.
After five decades of military rule, the former dissident’s party will need to grapple with those and other legacies of the country’s isolation.
Investors see potential in the country of about 56 million people. Myanmar has a capitalist culture—it developed a sophisticated black market during the junta’s rule—and natural resources.
The country may end up being among the fastest-growing in the world this year: The International Monetary Fund forecasts an 8.4 percent increase in real gross domestic product in 2016.
Meanwhile, the Central Bank of Myanmar is racing to put into place the financial infrastructure needed to cope with an expected influx of foreign investment and trade.The central bank granted preliminary licenses to nine foreign lenders in October, including Australia & New Zealand Banking Group and Industrial & Commercial Bank of China. They’re expected to engage in institutional banking to facilitate the entry of foreign investors. The central bank has said it plans to award a second round of licenses this year.
Hello, shadowlands : inside Southeast Asia’s $100 billion dark economy
Organized crime in Southeast Asia has entered a golden age : now valued at $100 billion, this dark economy is expected within the next decade to hit $375 billion
Hello, Shadowlands takes a deep plunge into crime rings both large and small. It also examines how China’s rise and America’s decline is creating new opportunities for transnational syndicates to thrive.
Burma: Facebook blamed for its role in the Rohingya genocide
It took Facebook a year to take concrete measures to rein in the appalling online hate machine that contributed to the systematic of massacre of Rohingyas initiated by Myanmar’s armed forces on 25 August 2017.
Welcoming Facebook’s announcement that it has finally closed the accounts of senior military officers in Myanmar who had been blamed for the ethnic cleansing of the country’s Rohingya Muslim minority, Reporters Without Borders (RSF) calls on the social networking giant to act transparently in future. (more…)
Myanmar agriculture rebounds from a drought-induced contraction
The agriculture sector in Myanmar grew by 3.5% in FY 2017/18, which ended on March 31, rebounding from a drought-induced contraction recorded in FY 2016/17
Favourable weather conditions and improved yields have helped drive a return to growth in Myanmar’s agricultural sector, a trend likely to be supported by government efforts to embrace modern farming methods to ensure long-term sustainable development.
Building a better Belt and Road
BRI is a collection of loans and not a basket of free lunches. Belt tightening awaits indebted countries along the...
SET signs MoU with Shenzhen bourse to strengthen Thailand-China capital market
The Stock Exchange of Thailand (SET) signed a memorandum of understanding (MoU) with Shenzhen Stock Exchange (SZSE)
Cambodia-Thailand trade to develop further
Cambodia and Thailand have agreed to develop more strategies to boost bilateral trade, to achieve a target of USD 15...
World Bank cuts Thailand’s growth rate projection to 3.8%
Growth in developing East Asia and the Pacific (EAP) is projected to soften, while growth rate in Thailand is expected...
Four major EEC infrastructure projects reviewed
The Thai government is advancing four infrastructure projects in the Eastern Economic Corridor (EEC)
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