“This is an important step for Myanmar’s electronic payment infrastructure” – Peter Maher
Yangon – Visa today announced that Visa cards will now be accepted at nearly 90 ATMs operated by Co-operative Bank and Kanbawza Bank across Myanmar. More…
Reposted from East Asia Forum
By Lex Rieffel, Brookings Institution
The global policy community has focused on the political challenges facing the government of President Thein Sein in Myanmar and paid little attention to the economic challenges. More…
Reposted from em pe guy
I was speaking on a panel at SuperReturn Geneva last week and the topic was on “Frontier Markets”. Due to lime limitations, we didn’t get a chance to discuss the risk component in more detail and how these usually can be mitigated. I’ve decided to put down a few points: More…
Reposted from the Irrawaddy
Representatives from more than 250 foreign companies are expected to attend Burma’s first-ever investment summit on Wednesday, a day after President Thein Sein vowed a “second wave of reforms” aimed at improving the country’s economy.
The two-day New Myanmar Investment Summit 2012, organized by Singapore-based CMT, will focus on forming successful joint ventures under a new foreign investment law that Thein Sein said in a nationally televised speech on Tuesday would soon be enacted by Parliament. More…
Workers count Burmese kyat currency at a bank in Yangon, Myanmar.
YANGON, Myanmar — Myanmar will issue next week a 10,000-kyat bank note that will be the country’s highest-denomination currency, the country’s central bank announced Thursday.
State television news broadcast a brief statement from the bank announcing the June 15 release of the new note, worth about $12.
The current highest denomination bank note, 5,000 kyat, was introduced in 2009. More…
Garment factory in Yangon, Myanmar
Myanmar would benefit from securing the revenue accumulated through its oil and natural gas sales into a sovereign wealth fund, helping the fledgling democracy avoid the “resources curse” and distributing wealth more equitably, Former World Bank Chief Economist Joseph Stiglitz told CNBC. More…
Reposted from VIETNAMNET Bridge
Fitch Ratings has affirmed Vietnam’s Foreign- and Local-Currency Issuer Default Ratings at ‘B+’ and the outlook for both ratings stable.
The Country Ceiling is also affirmed at ‘B+’ and the Short-Term Foreign Currency IDR at ‘B’.
Art Woo, Director in Fitch’s Asia-Pacific Sovereign Ratings group said the ratings and Stable Outlook reflect the success so far of efforts by Vietnam’s authorities to tackle the macro-financial imbalances that arose in 2010 and 2011. More…
Workers count Myanmar’s kyat banknotes at the office of a local bank in Yangon
Myanmar is set for economic take-off and faces an historic opportunity to launch growth that would lift living standards – if it pursues the right policy mix, the IMF said on Monday.
The former Burma, taking tentative steps towards democracy after decades of harsh military rule, has seen the publication of its annual IMF Article IV economic consultation report for the first time under its new reformist leadership. More…
Central Bank of Myanmar began a managed float of the Kyat in April
Western countries are beginning to lift and/or suspend decades-old economic sanctions again Myanmar following numerous economic and political reforms, reports Seeking AlphaIn an article entitled “Myanmar is Off to A Promising Start”. The most significant reforms that may have long-lasting economic implications for the region include currency unification, Central Bank reform, and telecommunications licensing. For in-depth analysis of these reforms, and their impact on the overall investability of Myanmar, please read the full article here. More…
