World Bank Reports on How COVID-19 Hammered Myanmar’s Businesses

YANGON — The World Bank’s latest survey on Myanmar says 75 percent of services, retail, wholesale, manufacturing and agricultural firms have suffered due to COVID-19, despite some signs of recovery. The World Bank’s data was collected from 500 firms in May, July and August in the services, retail, wholesale, manufacturing and agricultural sectors. It said […]

Growth potential seen in microfinance sector

With a quarter of the Myanmar population living under the poverty line and as much as 87 percent hailing from rural areas, according to the World Bank, the microfinance sector has good potential to grow in Myanmar. However, providers can be more efficient in their funding if there is better financial data on borrowers. Microfinancing […]

Next finance minister expected to rescue confidence, speed up bank reforms

The government has to find someone who can pick up the baton swiftly and restore confidence to an increasingly frustrated business community since U Kyaw Win has resigned as planning and finance minister. With economic reforms slowing and plummeting of investor confidence, the next office-holder needs to communicate the reform blueprint to the private sector, […]