{
  "title": "Myanmar: Staff Report for the 2011 Article IV Consultation.",
  "publication": "IMF Staff Country Reports, May 7, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/myanmar-staff-report-for-the-2011-article-iv-consultation-25889",
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  "summary": "This Article IV Consultation reports that Myanmar’s authorities are moving forward with reforms of the exchange rate system.",
  "sections": [
    {
      "heading": "Overview and key findings",
      "content": "- Authorities are moving forward with reforms of the exchange rate system.\n- Priorities identified:\n  - establishing the market infrastructure for the planned move to a managed float,\n  - building monetary and foreign exchange policy capacity to complement plans to unify the exchange rates.\n- Financial sector modernization is essential to support the reform process and improve financial intermediation.\n- Fiscal policy priorities include:\n  - ending deficit monetization,\n  - reprioritizing spending,\n  - increasing nonresource revenues for development spending within a medium-term fiscal framework."
    },
    {
      "heading": "Exchange rate system and monetary policy",
      "content": "- Planned move to a managed float requires:\n  - establishment of market infrastructure,\n  - development of monetary policy tools and foreign exchange policy capacity.\n- Unification of exchange rates is a central objective to be complemented by the above capacity-building measures."
    },
    {
      "heading": "Financial sector modernization",
      "content": "- Modernization is characterized as essential to:\n  - support broader economic reforms,\n  - improve financial intermediation.\n- Implicit priorities include strengthening institutions and market infrastructure to enable effective financial intermediation under a unified exchange rate regime."
    },
    {
      "heading": "Fiscal policy recommendations",
      "content": "- End deficit monetization to restore fiscal discipline.\n- Reprioritize spending to focus on development priorities.\n- Increase nonresource revenues to finance development spending.\n- Implement these fiscal priorities within a medium-term fiscal framework."
    },
    {
      "heading": "Subject areas and keywords (as listed)",
      "content": "- Subject: Banking, Economic sectors, Exchange rates, Exchange restrictions, External debt, Foreign exchange, Public debt, Public sector\n- Keywords: Asia and Pacific, CR, debt, debt indicator, deficit, deficit monetization, East Asia, Exchange rates, Exchange restrictions, FDI rule, FEC market rate, foreign currency, ISCR, managed float, Mekong, Public sector, real GDP, South Asia\n\nSource: Myanmar: Staff Report for the 2011 Article IV Consultation.\n\n---\n\n Content in this bundle\n\n- Myanmar: 2011 Article IV Consultation; IMF Country Report 12/104; March 2, 2012\n  - Myanmar: 2011 Article IV Consultation; IMF Country Report 12/104; March 2, 2012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Myanmar: 2011 Article IV Consultation; IMF Country Report 12/104; March 2, 2012 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: May 7, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475503265.002",
    "Authorities are moving forward with reforms of the exchange rate system.",
    "Priorities identified:",
    "Financial sector modernization is essential to support the reform process and improve financial intermediation.",
    "Fiscal policy priorities include:",
    "Planned move to a managed float requires:",
    "Unification of exchange rates is a central objective to be complemented by the above capacity-building measures.",
    "Modernization is characterized as essential to:",
    "Implicit priorities include strengthening institutions and market infrastructure to enable effective financial intermediation under a unified exchange rate regime.",
    "End deficit monetization to restore fiscal discipline.",
    "Reprioritize spending to focus on development priorities.",
    "Increase nonresource revenues to finance development spending.",
    "Implement these fiscal priorities within a medium-term fiscal framework.",
    "Subject: Banking, Economic sectors, Exchange rates, Exchange restrictions, External debt, Foreign exchange, Public debt, Public sector",
    "Keywords: Asia and Pacific, CR, debt, debt indicator, deficit, deficit monetization, East Asia, Exchange rates, Exchange restrictions, FDI rule, FEC market rate, foreign currency, ISCR, managed float, Mekong, Public sector, real GDP, South Asia",
    "**Myanmar: 2011 Article IV Consultation; IMF Country Report 12/104; March 2, 2012**"
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