Gold prices rise globally, fall in Myanmar

Although the value of gold is rising on global markets, prices are falling in Myanmar. While gold is selling for around USD 1800 per ounce in the global market, Myanmar’s gold traders are currently selling for around USD 900 (MMK 1.22 million)

SEC predicts rapid recovery

Despite a trading downturn during the COVID-19 crisis, the Securities and Exchange Commission believes capital markets will make a swift recovery when the pandemic dies down. Speaking to the Bangkok Post, SEC commissioner U Htay Chun said his organiz

IMF gives additional USD 356.5 million

The International Monetary Fund (IMF) has approved USD 356.5 in financing to aid Myanmar’s fight against COVID-19 and efforts to protect its economy. IMF has granted the financing in two forms: a disbursement of about USD 118.8 million under it

Travel ban extended again

The Ministry of Foreign Affairs has extended the ban on most international flights and visas until the end of July. It is the sixth time the restrictions, originally introduced on May 15, have been prolonged. Under the restrictions, almost all intern

Govt announces stimulus payments for millions of families

As the COVID-19 pandemic takes its toll on employment numbers, the government will soon give cash assistance to each of Myanmar’s families. President’s office spokesperson U Zaw Htay announced that, once the measure is ratified, 5.4 milli

ADB drops growth forecast to 1.8%, WB to 0.5%

In a new forecast, the Asian Development Bank has predicted Myanmar’s economy to grow only 1.8% in 2020 as the COVID-19 pandemic wreaks economic havoc throughout the continent. The prediction came in a June update of the ADB’s annual Asia