IMF Praises Myanmar Reforms - Report

[SeaVisionBurma]

23rd January 2014, from TTR Weekly via AFP

WASHINGTON, 23 January 2014: The International Monetary Fund praised Myanmar’s economic reform efforts Tuesday, saying it had met key targets for strengthening its finances and reforming management.

It said the economic outlook for the Asian country is good, forecasting growth in fiscal 2013 to 2014 to rise to 7.5% and near 7.8% the following year.

But it warned of the need to get inflation under control and to build up foreign reserves.

“Myanmar is undergoing an exciting transition,” Matt Davies, leader of a review team, said in a statement.

He cited the sweeping reforms that included removing exchange restrictions and adopting a floating rate for the kyat in the past year; the establishment of an autonomous central bank; and large increases in government and spending on health and education.

Read the full article here: http://www.ttrweekly.com/site/2014/01/imf-praises-myanmar-reforms/

[Rain dancer]

It's been a while i haven't posted : Many thanks for the flow of interesting articles !