Myanmar’s viral denial turns to economic despair

Description: 

"Myanmar State Counsellor Aung San Suu Kyi is scrambling to roll out Covid-19 relief measures in a race to prevent businesses and banks from collapsing under the weight of the global pandemic. In late April, her government issued a 15-page “Covid-19 Economic Relief Plan” which broadly outlined its responses to the pandemic, though without committing to an overall cost or details on how the plan will be implemented. So far the impact of the pandemic has been mostly economic in Myanmar. As of May 14, the country had recorded only 181 Covid-19 cases and six deaths, though there is widespread skepticism about the figures due to a lack of testing. The government was earlier widely criticized for claiming there were no cases in the country. Deputy Finance Minister Set Aung indicated the relief package would inject the kyat equivalent of around US$2 billion into the local economy, representing between 3-4% of gross domestic product (GDP). The stimulus package will be funded by budget reallocations, central bank financing and assistance from international financial institutions, authorities said..."

Creator/author: 

Rory Wallace

Source/publisher: 

"Asia Times" (Hong Kong)

Date of Publication: 

2020-05-14

Date of entry: 

2020-05-15

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar

Language: 

English

Resource Type: 

text

Text quality: 

    • Good