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Burma to Scrap Kyat Restrictions by 2013: IMF

9 May 2012

Burma will end its restrictions on international payments and transfers by the end of next year, according to a report by the International Monetary Fund (IMF). The move, which will make it easier for companies to buy and sell goods in the country, is part of a program of economic reforms being carried out with IMF assistance. “With the help of the IMF, Myanmar plans to complete the process of exchange rate unification, including removing all exchange restrictions and eliminating multiple currency practices before their target date of end-2013,” the report said.