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Myanmar needs broad reforms to keep growth rapid: IMF

Published on Jun 18, 2014 6:33 AM

WASHINGTON (AFP) - The International Monetary Fund said Myanmar’s economy is expected to build on already rapid growth but that momentum was at risk unless broad reforms are undertaken.

An IMF team met with authorities during a June 4-17 visit to Myanmar as part of the Fund’s typically annual review of a country’s economy, known as Article IV consultations.

“Myanmar is well placed to build on its recent economic reforms and embark on an extended period of rapid growth, emulating its regional peers,” said Matt Davies, who headed the team, in a statement.

“However, ensuring that this growth is sustainable and inclusive requires decisive implementation of a broad range of policy and structural reforms.”

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