Government announces plan to rebuild tourism sector
The government has detailed a three phase plan to rebuild a tourism industry shattered by the global Covid-19 pandemic. The measures, which began in April, will be carried out until January 2021. They include loans and financial assistance for compan
Myanmar and China mark 70 years of relations
This week, Chinese president Xi Jinping and Myanmar president U Win Myint exchanged congratulatory messages on the 70th anniversary of diplomatic relations between their countries. Each celebrated a long history of political and economic cooperation,
Foreign pandemic loans top USD 2.5 billion
It appears a new round of foreign loans have helped the COVID-19 Economic Relief Plan, or CERP, reach its massive price tag. A new round of parliament-approved financing from Japan and the International Monetary Fund have put the total value of forei
Pandemic aid focuses on SMEs
The Japan International Cooperation Agency (JICA) has announced that it will provide USD 46 million in soft loans for small and medium enterprises (SMEs) suffering from the COVID-19 economic fallout. The money adds to a growing bloc of foreign assist
Parliament approves borrowing from IMF and JICA
Parliament has approved accepting large loans from the International Monetary Fund (IMF). This funding will help the government carry out its sweeping COVID-19 Economic Relief Plan (CERP), which may cost as much as USD 2 billion. During the same sess
