IMF Sees Economic Revival in Myanmar
IMF Sees Economic Revival in Myanmar

IMF Sees Economic Revival in Myanmar

IMF Sees Economic Revival in Myanmar

The International Monetary Fund on Friday forecast an economic rebound in Myanmar this year, but said the Rohingya refugee crisis may dampen investment as the country faces international pressure over its treatment of the Muslim minority, Reuters reported. More than 600,000 Rohingya have fled to Bangladesh since late August, driven out by a military counter-insurgency clearance operation in Buddhist-majority Myanmar’s Rakhine State. While there is no sign of a major, direct economic impact, the crisis has dented hopes of a western investment boom as European and US companies are wary of the reputational risks of investing. Last month, the World Bank froze $200 million in budget funding for Myanmar over the crisis. “The internal conflict and humanitarian crisis in northern Rakhine State could affect development finance and investor sentiment, although direct economic impact appears to have been largely localized,” the IMF’s Myanmar mission chief, Shanaka Peiris, told reporters in the commercial capital of Yangon. “Myanmar’s economy is rebounding and macroeconomic imbalances are stabilizing. Growth is expected to rebound to 6.7%,” he said.


Short URL : https://goo.gl/X4g2NT
  1. https://goo.gl/wKzFsR
  • https://goo.gl/9Jo881
  • https://goo.gl/urd9bq
  • https://goo.gl/Y2k83S
  • https://goo.gl/BuJ8Bf

You can also read ...

Close to 40% of digital transformation initiatives will be supported by AI capabilities.
The digital economy in Asia-Pacific, or APAC, is expected to...
An electronic stock indicator of a securities firm in Tokyo.
As investors come to terms with the impending end of easy...
Most economists would agree that Italy needs faster economic growth if it is to resolve its public debt  and banking-sector problems in an orderly manner.
Italy’s economy is growing again, but it’s still the worst...
Maersk is expanding its competitive universe to include different types of companies.
The world’s largest container company will start looking for...
Lloyds Profits Miss Forecasts
Lloyds Banking Group PLC raised its 2017 dividend by 20% and...
NZ Says Pacific Trade Deal Will Boost GDP
New Zealand estimates a Pacific trade deal would boost its...
CBs May Top Inflation Targets
Not only will central banks meet their inflation targets, they...
Pak Current Account Gap Widens
Pakistan’s current account deficit widened 28.74% on a month-...

Add new comment

Read our comment policy before posting your viewpoints