Myanmar: Awakening to Countless Possibilities

IMF Blog, December 9, 2013

Source details

Author: Christine Lagarde; date: December 9, 2013.
Tour context: third and last country after visits to Cambodia and Korea.
Immediate impressions: "enchanting beauty, warm hospitality, and an unstoppable drive to succeed."
Engagements noted: Myanmar recently took over the chairmanship of ASEAN and was hosting the South East Asian games (the 27th biennial SEA Games) during the visit.
Photographic captions in the source reference IMF Photograph/Stephen Jaffe for events on December 6, 2013 and December 7, 2013.

Short-term achievements highlighted:
- Reducing inflation.
- Freeing up access to foreign exchange and imports.
- Establishing a new central bank.
Strategic advice for reform: adopt a “no haste, no waste” strategy—shun reforms simply for the sake of reform; make progress at a pace that allows authorities to manage related risks while taking maximum advantage of available opportunities.
IMF role: "the IMF would be a lasting partner on the road ahead, and would always stand with the people of Myanmar."

Invest in the future—especially in health, education, and infrastructure.
Include all people in development, including the poor and women—for inclusive growth is the only real form of lasting growth.
Integrate further into the broader regional economy, taking advantage of Myanmar’s auspicious location in the heart of Asia.

Participation: speaker at the Women’s Forum Myanmar.
Key messages at the Forum:
- As Myanmar opens up, it is committed to development that incorporates the skills, talent, and leadership of women.
- Economic potential of women: "if women do better, economies do better," and empowering women is "one of the best ways of reducing poverty."
Personal engagements: meetings with women leaders, professors and students at the Yangon Institute of Economics, and a private meeting with Daw Aung San Suu Kyi.
Reflections on Daw Aung Suu Kyi’s speech: emphasized generosity and empathy as hallmarks of a decent society where everyone is valued equally and allowed to contribute and realize their full potential.

Overall sentiment: impressed, inspired, and optimistic about Myanmar’s trajectory.
Parting remark: the author felt she had "glimpsed the future unfolding right before my eyes."

Christine Lagarde, Myanmar: Awakening to Countless Possibilities — December 9, 2013.