Strategies and Relief Efforts for Myanmar's Economy Amid Covid-19 Crisis
Explore how Myanmar's Ministry of Planning and Finance has responded to the economic challenges posed by the Covid-19 pandemic. Learn about the impact on trade, the emergency actions taken by the government, and the Covid-19 Economic Relief Plan (CERP) implemented to support businesses and households. Discover the negotiations with G-20 and Paris Club members for debt service suspension and the future challenges and recovery plans for Myanmar's economy post-Covid-19.
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Presentation Transcript
Ministry of Planning and Finance Ni Ni Than Director Treasury Department
declined in world trade Impacted on the economy of the countries 23-3-2020 (spread Myanmar) disrupted Myanmar s economy currently still being breakout
To share Myanmars crisis management on Covid-19 in terms of Monetary and Fiscal Sector To exchange views on the response to Covid-19 with participant countries
Declined in the economy of the country Disrupted supply chain, trade flows and cessation of tourism Stopped micro, small and medium enterprises Psychological damage Inadequate health centers
Myanmar government took the following emergency actions: Issuing the Covid-19 Economic Relief Plan (CERP) Negotiating with G-20 and Paris Club members for Debt Service Suspension Initiative
Covid-19 Economic Relief Plan (CERP) o Implementing Covid-19 Fund o Providing loans with interest rate 1% to Cut-Make-Pack (CMP) business, hotels and tourism, micro, small and medium enterprises o Cash transfer and 5 kinds of basic groceries to households with no-regular income o Taking the concessional loans for the international organizations
Covid-19 Economic Relief Plan (CERP) o Increasing the expenditures for Covid-19 o Implementing to develop digitalization
Negotiating with G-20 and Paris Club members for Debt Service Suspension Initiative o Negotiated with some of the G-20 and Paris Club members
Regarding the key challenges faced by Myanmar, all participants are welcomed to make suggestions to recovery our country s economy affected by Covid-19 as well as on how we should move forward monetary and fiscal sector beyond Covid-19.
