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Burma Economy Has 'Long Way to Go': ADB

24 April 2012

Burma must implement difficult reforms as it faces a surge of investment that threatens to destabilize its economy, the Asian Development Bank said. This month’s devaluation of Burma’s currency is a “very positive step” but the country has a “very long way to go” after decades of political and economic isolation, ADB Managing Director Rajat Nag said. “The important thing in Myanmar is to keep the macroeconomic stability because as the country opens up, there will be a significant increase in investment and trade,” said Nag.—AP