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IMF praises Myanmar's reform efforts

Published on Jan 22, 2014 6:47 AM

WASHINGTON (AFP) - The International Monetary Fund praised Myanmar's economic reform efforts on Tuesday, Jan 21, 2014, saying it had met key targets for strengthening its finances and reforming management.

It said the economic outlook for the Asian country is good, forecasting growth in the fiscal year 2013-2014 to rise to 7.5 per cent and near 7.8 per cent the following year.

But it warned of the need to get inflation under control and to build up foreign reserves.

"Myanmar is undergoing an exciting transition," Mr Matt Davies, leader of a review team, said in a statement.

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