IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2021-023.html
   My bibliography  Save this paper

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

Author

Listed:
  • International Monetary Fund

Abstract

With the economy already slowing due to the COVID-19 pandemic in FY2019/20, a more intense second wave has hit Myanmar hard, inflicting large economic and social costs and straining the frail healthcare system. The needed strict lockdown measures have hurt manufacturing and spending further, while weak external demand has weighed on exports and tourism, though the kyat continued to appreciate as remittances remained robust. In FY2020/21, growth will decelerate further to 0.5 percent and open up external and fiscal financing gaps of about US$1 billion. The IMF’s RCF/RFI disbursement of 50 percent of quota (SDR 258.4 million) in June helped support the authorities’ policy response for FY2019/20, particularly for social and health spending, kept monetary financing within target, and catalyzed financing from external partners, including through the Debt Service Suspension Initiative (DSSI).

Suggested Citation

  • International Monetary Fund, 2021. "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," IMF Staff Country Reports 2021/023, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2021/023
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=50036
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ISCR; CR; IMF emergency financing; IMF emergency assistance; CBM financing; RFI disbursement; financing gap; emergency financing request;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2021/023. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.