Serge Pun says megaprojects under China’s Belt and Road Initiative are crucial to Myanmar’s recovery from COVID-19 as they can create employment.
This week Myanmar saw major pledges from the World Bank and Alibaba as the government promised COVID-19 relief will reach businesses beyond Yangon.
During a call on Wednesday, Chinese President Xi Jinping and Myanmar President U Win Myint discussed how to speed up cooperation on Belt and Road Initiative projects.
The Chinese ambassador to Myanmar has pushed to incorporate Beijing’s key strategic development projects into Myanmar’s COVID-19 Economic Relief Plan.
The Myanmar government rolled out its COVID-19 relief plan and announced investment projects, interest rate cuts and tax breaks on medical supplies as some factories reopened.
State Counselor Daw Aung San Suu Kyi said her government’s comprehensive COVID-19 response plan would soften the economic blow of the pandemic and leave no one behind.
The Central Bank of Myanmar has cut interest rates again, taking its total reduction to 3 percentage points in less than two months as the economy reels from COVID-19.
The Myanmar government adopts measures to support factory workers, stabilize commodity prices and delay the lottery, and the World Bank will loan the country US$50 million.
The Myanmar government is following through on its threats to punish anyone who spreads fake news about COVID-19 as authorities arrested a man on Saturday for a Facebook post.
The Mandalay government has banned a bus company for violating a mandate to reduce crowding in order to curb the spread of COVID-19.
The Central Bank of Myanmar announced an additional 1 percent cut to interest rates, two weeks after announcing a 0.5 percent cut, as Myanmar’s economy slows due to COVID-19.
The Irrawaddy presents what the military and its proxy Union Solidarity and Development Party did not want to be changed in the 2008 Constitution.
The Central Bank will cut interest rates by 0.5 percent on April 1 in a bid to boost growth but economists say it won’t be enough as the bank’s rates remain high.
The State Counselor said Tuesday that the government has plans in place to ensure the coronavirus outbreak does not lead to an economic crisis but gave few details.
Over 11 days, the Myanmar military has seized drugs and paraphernalia worth nearly US$200 million in an area controlled by a military-backed militia in northern Shan State.