Access to financial resources key to health, economic response to COVID-19

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Articles

In cooperation with international monetary organizations and partner countries in response to the COVID-19 pandemic, ASEAN-member countries, including Myanmar, have seen achievements in the financial partnership with easing restrictions and marching towards the millennium development goals.
Regarding the ASEAN Framework Agreement on Services, Myanmar is also taking part in implementing the task for approving 9th pledges to ease financial services restrictions.
To put our country on the right path to quick recovery from the pandemic, we laid down the COVID-19 Economic Relief Plan-CERP as part of the Comprehensive Economic Stimulus Plan, and we are implementing it along with other recovery plans.
With the uncertainty of ending impacts from the COVID-19 pandemic, challenges still exist. Undoubtedly, close financial cooperation with the international monetary organizations and ASEAN partner countries in terms of effective financial assistance to recovery sectors, including the public health sector, will play a key role in the recovery of ASEAN member countries.
We cannot beat COVID-19 and achieve economic recovery from the pandemic without sufficient and reliable external finances.
Strengthening our country’s health and economic response to COVID-19 depends on strengthening our access to multilateral financial resources.
As part of efforts for addressing the economic impacts from the COVID-19, the State Administration Council has granted a six-month extension of the grace period of COVID loan, and monitoring teams in states and regions are scrutinizing the use of the loan by the businesses and the revision of functions of the working committee.
Further measures need to be taken to relieve the impacts of the pandemic. We are confident that close cooperation with international monetary organizations would ensure us to tackle the impacts of the COVID-19. We need to strengthen our commitment to building our country back better for our future generation.

We are confident that close cooperation with international monetary organizations would ensure us to tackle the impacts of the COVID-19. We need to strengthen our commitment to building our country back better for our future generation.

Our ASEAN member countries’ response to COVID-19 should be a wake-up call to international monetary organizations. At the same time, ASEAN member countries should increase collaboration to improve access to external finance.
Asia’s developed economies should collaborate.
The global elimination of COVID-19 is a public good. Your success is our success. We won’t succeed without international help.

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