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Myanmar moves forward

The government of Myanmar is about to take dramatic steps to spur economic development and improve government efficiency. Several significant cabinet changes are in the pipeline, detailed economic strategies are being finalised and a shake-up in the bureaucracy is already under way. These planned changes in ministerial personnel are aimed at strengthening the government’s leadership […]

Myanmar Economy Needs ‘Predictable Policy,’ New Reform Leader Urges

NAYPYITAW — “Winston” Set Aung, Myanmar’s newly-appointed deputy minister for national planning and finance, has urged fellow government leaders to pursue further regulatory and policy reforms for the economic development of Myanmar during a panel session at the Myanmar Democratic Transition Forum. “It is required to establish predictable and stable policy with clear and simple […]

Central Bank of Myanmar plans first real-time payments system

The Central Bank of Myanmar (CBM) plans to introduce a real-time gross settlement (RTGS) system by the end of 2015. Deputy governor Winston Set Aung says the country’s first ever RTGS will help to reduce the size of the cash economy, as the system will allow transfers between banks to be settled immediately. An unnamed […]