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
Auditor general fears rising Chinese debt
A mere week after Myanmar celebrated 70 years of diplomatic relations with China, Auditor General U Maw Than has urged parliament to be wary of Myanmar’s growing Chinese debt. In a June 15 speech, Maw Than pointed out that China holds USD 4 bil
