Myanmar: Selected Issues

International Monetary Fund

No 2017/031, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper examines the strategy and priorities for reform in Myanmar’s financial sector. The IMF helped design and implement a foreign currency auction by the Central Bank of Myanmar (CBM), as a first step to develop foreign currency price discovery and replace a heavily regulated formal market segmented from informal markets, with the ultimate objective of creating a unified market. Key achievements have included new legislation to establish an autonomous CBM with clearer authority for licensing, supervision and regulation of banks, and monetary policy, in line with a new mandate for price and financial stability. Significant progress has also been made in bank supervision.

Keywords: Myanmar economy; foreign currency market; poverty rate; price discovery; government effectiveness; market-clearing role; monetary policy arrangement; Natural disasters; State-owned banks; Climate change; Financial inclusion; Infrastructure; Global; Southeast Asia (search for similar items in EconPapers)
Pages: 44
Date: 2017-02-02
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