December 7, 2013

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), today made the following statement in Yangon at the conclusion of her visit to Myanmar:

“I would like to express my sincere gratitude to the Myanmar authorities and the people of Myanmar for welcoming me during my first visit to this fascinating country. I had productive discussions with Vice President Nyan Tun, Finance Minister Win Shein and Central Bank Governor Kyaw Kyaw Maung, as well as other senior officials. I also had the privilege to meet with Daw Aung San Suu Kyi.

“Myanmar today is undergoing a great opening, taking its rightful place in the heart of Asia, the most dynamic and innovative hub of the global economy. It is building macroeconomic stability and undertaking the reforms needed for sustaining economic and social prosperity.

“This comes from the recent reforms undertaken by the government, including adopting a managed floating exchange rate and removing exchange restrictions; establishing an autonomous central bank; and significantly increasing spending on health and education. The next step is to build on these gains and take the path of sustained, strong, and inclusive growth—to lower poverty and lift the prospects of everyone in Myanmar.

“In a town hall meeting at Yangon Institute of Economics today, I will meet with students and discuss the importance of investing in the future, including all in development, and integrating into the regional and global economy.

“In the last year, IMF has consulted closely with the authorities on creating the conditions necessary to ensure macroeconomic and debt sustainability. The IMF will continue to stand with Myanmar through policy advice and through enhanced technical assistance and training, to help the people of Myanmar strengthen their capacity and build the strong institutions needed to sustain a vibrant economy in the years to come.

“Throughout my Asia trip this week, one of the key issues of discussion has been the economic potential of women. At the Myanmar Women’s Forum, which I attended today, I stressed the significant macroeconomic benefits that can result from greater participation of women in the economy, including in Myanmar.

“Again, I wish to thank the authorities and the people of Myanmar for their gracious hospitality. We are a long-term partner and look forward to supporting Myanmar’s bold and exciting transition.”