Myanmar Archives - Page 5 of 5

Myanmar – Asia’s Next Tiger?: Dan Steinbock

After almost half a century of isolation, Myanmar could emerge as Asia’s next tiger – but only with the right policies.

After meetings with government representatives, senior executives and think-tank leaders in Myanmar, I spent some time exploring the beautiful nation.

In Yangon, Myanmar’s window to the world, you quickly get an idea of the debilitated infrastructure, the poverty and the 40-degree Celsius heat – and the ingenuity of ordinary people and their dream of a better future.

Will Reform Inertia Blemish Myanmar’s Economic Potential?

Myanmar’s economic potential has been vastly enhanced by its access to foreign resources — in the form of new trading opportunities, the inflow of foreign investment and elevated levels of bilateral and multilateral assistance. The country’s opening represents a new chapter in Asian development but Myanmar’s golden promise will ultimately depend on what success it has with political and economic reforms at home.

Myanmar Lifts 50-Year-Old Ban On Privately-Owned Daily Newspapers

Myanmar’s decades-long ban on privately-owned daily newspapers came to an end on Monday, reported AFP, representing a new era for the nation’s media industry, which has long been shackled under Junta rule.

US Lifts Restrictions on Myanmar Banks

The United States has taken further steps to ease restrictions on four major Myanmar banks allowing them access to the U.S. financial system. All four banks have faced U.S. sanctions and at least two of the institutions are controlled by people who have been on U.S. blacklists for having close ties to the former military regime.

Guarded Optimism At The Gates Of Myanmar

The opening of the once-reclusive country has been met with a flood of interest from the international community. Downtown Yangon is teeming with foreigners keen to get a piece of the rapidly expanding economic pie. But teething problems are visible as Myanmar still lacks a strong regulatory framework to manage its transition.

Myanmar Clears Overdue Debt With World Bank, ADB

Myanmar on Monday will clear up to $952 million of decades-old debts owed to the World Bank and the Asian Development Bank with the aid of a bridge loan from Japan, reported the Wall Street Journal, moving the once-isolated state closer to full inclusion in the global economic community and opening the path towards new development lending.

World Bank Offers $245 Million In Aid To Myanmar

The World Bank has promised up to $245 million in credit and grant funding to Myanmar over the next 18 months, reported Reuters, under a new interim strategy focused on accelerating poverty reduction by bolstering reforms in the nation’s budget, regulatory and private sector.

International Sanctions May Ruin Myanmar’s Opportunity For Change: Joseph Stiglitz

Political change in Myanmar has been numbingly slow for a half-century, but a new leadership is trying to embrace rapid transition from within. However, the country is now being held back by the international sanctions that were imposed before its leaders turned away from authoritarianism and isolation.

Billionaire Investor George Soros Sets Up Philanthropic Arm In Burma

George Soros goes by many names. He is the man who famously broke the Bank of England, and at the same time a wealthy billionaire hedge fund investor. Soros, is also a philanthropist and is set to open his first Burmese office.

United States billionaire investor George Soros has agreed to set up a philanthropic base in Burma, following his recent visit and meetings with the country’s leaders, including opposition figure head Aung San Suu Kyi.

Myanmar Economic Forecast

Myanmar, which is also known as Burma, is a country with tremendous wealth when it comes to resources but because of current government control, the economy has experienced incredible poverty. Over the years, this country has made strides in building revenue from hydrocarbons but even with this, both economic and social environments have begun to fall apart primarily because of corruption and mismanagement. Myanmar also has an issue with imbalances on the economic front.