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Myanmar, IMF to strengthen cooperation

MyanmarMyanmar and the International Monetary Fund (IMF) will strengthen cooperation in the Myanmar's financial reform, official sources said.

That was discussed by Myanmar Vice President U Nyan Tun and IMF Managing Director Christine Lagarde during her first visit to Myanmar over the weekend.

Their discussion covered IMF assistance in reform process of banking system, financial sector and monetary policy in Myanmar. Ms. Lagarde reiterated the international institution's continued support to Myanmar in terms of policy advice, technical assistance and training.

"In addition to our many teams working to support Myanmar based in IMF Headquarters and periodically visiting the country, we have a resident representative in Myanmar and are building a team of resident technical experts to be on call to help the authorities as they develop their institutions," said Ms. Lagarde.

"We also have an office in Bangkok with a number of experts largely dedicated in supporting Myanmar," she said, assuring that the fund will never stop working with Myanmar. She added "The IMF is a long-term partner looking forward to supporting the country's bold and exciting economic and political transition".

IMF predicted Myanmar's economy to grow 6.75 percent in the 2013-14 fiscal year, driven by natural gas, sale and investment as Myanmar takes steps to reform its financial system.


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