Sweeping economic stimulus plan unveiled
The Ministry of Planning, Finance and Industry has released a comprehensive COVID-19 stimulus plan that will inject billions of dollars into the Myanmar economy. In an official report, State Counsellor Aung San Suu Kyi said the plan will both help th
ADB and IMF predict growth despite pandemic
Current forecasts predict Myanmar to be one of Asia’s few economies to grow amid the COVID-19 pandemic. The recently-released Asian Development Outlook from the Asian Development Bank predicts the Myanmar economy to grow 4.8% this year despiteCBM cuts interest rates for the 3rd time to support economy
The Central Bank of Myanmar (CBM) will cut interest rates for the third time this year to support the country’s economy amid the COVID-19 outbreak, state-run media quoted a statement of the central bank on Wednesday. According to the statement,
Visa and flight ban extended to May 15
The government has extended a blanket moratorium on flights and new visas until May 15. The suspensions, originally announced by the Central Committee for COVID-19 Prevention, Control and Treatment, were set to end on April 30. A growing number of ne
EU provides relief to garment factory workers
As the COVID-19 pandemic slams Myanmar’s manufacturing sector, the European Union (EU) will contribute EUR 5 million to factory workers who have lost their jobs. Since the start of the pandemic, at least 40 garment factories have closed and mor
