Deputies of ASEAN finance, central bank hold meetings on finance, banking sectors between ASEAN and US Department of Treasury

Deputy Minister U Maung Maung Win participates in the virtual meeting on finance, banking sectors between ASEAN and US Department of the Treasury on 1 Ocbober 2020. Photo: MNA

Deputy ministers for finance and deputy governors of central banks in ASEAN and the United States held an online meeting, as part of the ASEAN Finance Ministers and Central Bank Governors’ Meeting yesterday.
The meeting was hosted by the rotating chairmanship of the Ministry of Finance and the Central Bank of Viet Nam.
Deputy Minister for Planning, Finance and Industry U Maung Maung Win and Deputy Governors of Central Bank of Myanmar U Soe Thein and U Bo Bo Nge joined the meeting via videoconferencing from the headquarters in Nay Pyi Taw.
The Deputy Minister discussed the implementation of COVID-19 Economic Relief Plan, low-interest loan from the COVID-19 fund for SMEs, CMP, tourism, agriculture and food production sectors, food and cash assistance to people with no regular income under the CERP Action Plan, postponement of taxation period until the end of this year, getting low-interest loans from the World Bank, IMF, ADB and JICA to support financial sector of the country, works for debt transparency and infrastructure finance in accordance with the Public Debt Management Law, implementation of medium term debt management strategy, debt reports of the government, publishing the reports on the ministries’ websites and cooperation with the World Bank to establishment the New Development Bank to supply the needs of national infrastructure financing.
He also held talks on tax reform of Myanmar in relation to the development Roadmap for Monetary and Financial Integration of ASEAN (RIA-Fin), fruitful results from implementation of Financial Inclusion Roadmap (2014-2020), future plans for New Financial Inclusion Roadmap (2019-2023), development of capital markets and insurance sector.
Deputy Director-General Daw Khin Soe Oo from the Treasury Department presented her review on the 5th ASEAN Insurance Forum in Nay Pyi Taw in 2019, where Myanmar acted as the joint chairmanship of work committee on relaxation of ASEAN financial services.
The meeting was attended by deputy finance ministers from ASEAN countries, deputy governors, officials from the US Treasury, Deputy Secretary-General of ASEAN and officials from the ASEAN Secretariat. –MNA (Translated by Aung Khin)

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