{
  "title": "Myanmar: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Myanmar",
  "publication": "IMF Staff Country Reports, March 26, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/03/26/myanmar-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-49292",
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  "summary": "This 2019 Article IV Consultation focuses on Myanmar’s near- and medium-term challenges and policy priorities and was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Focus: Myanmar’s near- and medium-term challenges and policy priorities.\n- Prepared before COVID-19 became a global pandemic and thus does not reflect the implications of those developments or related policy priorities.\n- IMF staff is closely monitoring COVID-19 developments and related policy responses and will continue assessing impacts on the Myanmar economy.\n- Long-term prospects described as favorable; near-term growth likely to remain below potential."
    },
    {
      "heading": "Macroeconomic outlook and risks",
      "content": "- Near-term growth pressures:\n  - Correction in real estate market weighs on investor sentiment in the runup to the 2020 elections.\n  - Continued uncertainty expected to dampen growth.\n- COVID-19 considerations:\n  - The report does not reflect COVID-19 implications; these developments have greatly amplified uncertainty and could heighten downside risks around the outlook.\n- Bank deleveraging effects:\n  - Starting FY2020/21, bank deleveraging will further slow credit and constrain gross domestic product growth as borrowers’ true ability to repay is revealed with term loans coming due and banks restructure in earnest."
    },
    {
      "heading": "Banking and financial sector",
      "content": "- Bank deleveraging anticipated to:\n  - Slow credit growth.\n  - Constrain gross domestic product growth beginning FY2020/21.\n- Investor sentiment is vulnerable to real estate correction and pre-election uncertainty."
    },
    {
      "heading": "Policy priorities and staff actions",
      "content": "- Priority focus on near- and medium-term policy responses to emerging risks.\n- IMF staff monitoring:\n  - The situation including related policy responses from the authorities.\n  - Continued work on assessing COVID-19 impact on the Myanmar economy.\n\n---\n\n Content in this bundle\n\n- 1. Macroeconomic Developments\n  - 1. Macroeconomic Developments (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1. Macroeconomic Developments (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: March 26, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513538419.002",
    "Focus: Myanmar’s near- and medium-term challenges and policy priorities.",
    "Prepared before COVID-19 became a global pandemic and thus does not reflect the implications of those developments or related policy priorities.",
    "IMF staff is closely monitoring COVID-19 developments and related policy responses and will continue assessing impacts on the Myanmar economy.",
    "Long-term prospects described as favorable; near-term growth likely to remain below potential.",
    "Near-term growth pressures:",
    "COVID-19 considerations:",
    "Bank deleveraging effects:",
    "Bank deleveraging anticipated to:",
    "Investor sentiment is vulnerable to real estate correction and pre-election uncertainty.",
    "Priority focus on near- and medium-term policy responses to emerging risks.",
    "IMF staff monitoring:",
    "**1. Macroeconomic Developments**"
  ],
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