IMF Managing Director Christine Lagarde Meets Vice President Nyan Tun and Senior Officials in Myanmar

Stocks and Financial Services Press Releases Monday December 9, 2013 09:22
IMF--9 Dec--International Monetary Fund
December 7, 2013 Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), today made the following statement in Yangon at the conclusion of her visit to Myanmar:

“I would like to express my sincere gratitude to the Myanmar authorities and the people of Myanmar for welcoming me during my first visit to this fascinating country. I had productive discussions with Vice President Nyan Tun, Finance Minister Win Shein and Central Bank Governor Kyaw Kyaw Maung, as well as other senior officials. I also had the privilege to meet with Daw Aung San Suu Kyi.

“Myanmar today is undergoing a great opening, taking its rightful place in the heart of Asia, the most dynamic and innovative hub of the global economy. It is building macroeconomic stability and undertaking the reforms needed for sustaining economic and social prosperity.

“This comes from the recent reforms undertaken by the government, including adopting a managed floating exchange rate and removing exchange restrictions; establishing an autonomous central bank; and significantly increasing spending on health and education. The next step is to build on these gains and take the path of sustained, strong, and inclusive growth—to lower poverty and lift the prospects of everyone in Myanmar.

“In a town hall meeting at Yangon Institute of Economics today, I will meet with students and discuss the importance of investing in the future, including all in development, and integrating into the regional and global economy.

“In the last year, IMF has consulted closely with the authorities on creating the conditions necessary to ensure macroeconomic and debt sustainability. The IMF will continue to stand with Myanmar through policy advice and through enhanced technical assistance and training, to help the people of Myanmar strengthen their capacity and build the strong institutions needed to sustain a vibrant economy in the years to come.

“Throughout my Asia trip this week, one of the key issues of discussion has been the economic potential of women. At the Myanmar Women’s Forum, which I attended today, I stressed the significant macroeconomic benefits that can result from greater participation of women in the economy, including in Myanmar.

“Again, I wish to thank the authorities and the people of Myanmar for their gracious hospitality. We are a long-term partner and look forward to supporting Myanmar’s bold and exciting transition.”

Latest Press Release

Fitch: Thai Loan Growth to Pick up in Pressures Remain

Thai banks’ loan growth is likely to accelerate in the second half of 2014, after domestic-listed lenders posted an increase of just 1.5% year-to-date in 1H14, says Fitch Ratings. This will be reflective of an improving macroeconomic environment....

Rating On Banques Populaires Covered Bonds Programme Affirmed At #AAA#; Outlook Stable

LONDON (Standard & Poor's) July 25, 2014--Standard & Poor's Ratings Servicestoday affirmed its 'AAA' ratings on Banques Populaires Covered Bonds Programmeand on the French structured mortgage covered bonds issued under it. Theoutlook is...

China South City Upgraded To #BB-# And #cnBB+# On Steady Growth, Improved Diversification, Consistent Fiscal Management

HONG KONG (Standard & Poor's) July 25, 2014--Standard & Poor's RatingsServices raised its long-term corporate credit rating on China-based realestate company China South City Holdings Ltd. (CSC) to 'BB-' from 'B+'. Theoutlook is stable. At the...

Berau Energy#s Proposed U.S. Dollar Senior Secured Notes Rated #BB-#, On CreditWatch Negative

SINGAPORE (Standard & Poor's) July 25, 2014--Standard & Poor's RatingsServices today assigned its 'BB-' long-term issue rating to a proposedU.S.-dollar issue of up to US$450 million in senior secured notes by BerauCapital Resources II Pte. Ltd.,...

Photo Release: Bangkok Bank gives Baht 1.5 million to support Economic Reporters Association for 9th consecutive year

Bangkok Bank Executive Vice Chairman Deja Tulananda (4th from left) and Vice President of Public Relations Department Aphiwat Punnopakorn (3rd from left) gave Baht 1.5 million to Economic Reporters Association President Lamyong Pokpong (5th from left)...

Related Topics