World Bank signs zero-interest $200m credit deal with Myanmar


The scaffolding of the Sule Pagoda's tower shows the historic Yangon city hall building (at L) featuring distinct Myanmar architecture fronting Mahabandoola road. Photo: AFP

The World Bank has signed a zero-interest $200m credit with Myanmar to help with programmes that include better public debt management, increased tax collection and stronger public finance management,  publicfinanceinternational.org reported on 21 August.

Myanmar’s first ‘macroeconomic stability and fiscal resilience development policy operation’ is aimed at accelerating economic changes needed for long-term peace and prosperity. 

Under the reforms contained in the policy, Myanmar will seek to promote prudent public debt management, improve the fiscal discipline of state economic enterprises and achieve more effective budgeting processes. 

Reforms under its fiscal resilience pillar aim to increase tax collection, improve management of gas revenues and strengthen public finance management, according to the report.

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