## Myanmar: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Myanmar

_IMF Staff Country Reports, March 26, 2020_

## Source details

**Canonical URL:** [Myanmar: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Myanmar](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/03/26/myanmar-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-49292/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/03/26/myanmar-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-49292/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/03/26/myanmar-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-49292/bundle-manifest.json)

## Bibliographic details
- Published: March 26, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513538419.002

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### Overview
- 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.

### Macroeconomic outlook and risks
- Near-term growth pressures:
  - Correction in real estate market weighs on investor sentiment in the runup to the 2020 elections.
  - Continued uncertainty expected to dampen growth.
- COVID-19 considerations:
  - The report does not reflect COVID-19 implications; these developments have greatly amplified uncertainty and could heighten downside risks around the outlook.
- Bank deleveraging effects:
  - 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.

### Banking and financial sector
- Bank deleveraging anticipated to:
  - Slow credit growth.
  - Constrain gross domestic product growth beginning FY2020/21.
- Investor sentiment is vulnerable to real estate correction and pre-election uncertainty.

### Policy priorities and staff actions
- Priority focus on near- and medium-term policy responses to emerging risks.
- IMF staff monitoring:
  - The situation including related policy responses from the authorities.
  - Continued work on assessing COVID-19 impact on the Myanmar economy.

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## Content in this bundle

- **1. Macroeconomic Developments**
  - [1. Macroeconomic Developments (Markdown version)](/-/media/files/publications/cr/2020/english/1mmrea2020003.pdf.md){rel="alternate" type="text/markdown"}
  - [1. Macroeconomic Developments (PDF)](/-/media/files/publications/cr/2020/english/1mmrea2020003.pdf){rel="external" type="application/pdf"}

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_Source: 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_