Myanmar: Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Myanmar

International Monetary Fund

No 2020/215, IMF Staff Country Reports from International Monetary Fund

Abstract: The COVID-19 pandemic is expected to hit hard Myanmar’s economy via weaker exports, tourism, remittances and domestic demand. The economic and social costs of a widespread outbreak could be large, against the backdrop of a frail healthcare system and inadequate social safety nets, as well as already low international reserves and a fragile banking system. The measures to contain and alleviate the effects of the pandemic open up sizeable BOP and fiscal financing gaps in the near term.

Keywords: ISCR; CR; financing; IMF emergency financing; Myanmar economy; CBM financing; financing needs; IMF's article; COVID-19; Monetary base; Credit; Global (search for similar items in EconPapers)
Pages: 49
Date: 2020-07-02
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