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August 05, 2020

Myanmar can maintain external debt sustainability: finance permanent secretary

Permanent Secretary U Maung Maung Win of Ministry of Finance. Photo: MNA
Permanent Secretary U Maung Maung Win of Ministry of Finance. Photo: MNA

Myanmar can still maintain external debt sustainability at present, said the permanent secretary of the Ministry of Finance in an interview with the Myanmar News Agency recently.
The government has been criticised for its external and internal debts, but the permanent secretary said many governments have to borrow money for their development projects.
“Myanmar has adopted debt management measures in accordance with the international norms with the technical assistance of the ADB,” the permanent secretary said.
In addition, the bill for the Public Debt Management Law has been submitted to the parliament, he added.
Internal debts are not a cause of concern as they result from government deficits and can be settled when there is a surplus of spending in the future, he said.
As for inflation, the secretary said it is difficult to determine the rate of inflation exactly, but some outside sources have said Myanmar is experiencing a two-digit inflation rate.
Inflation can be addressed through financial, fiscal, monetary, tax and expenditure policies, the secretary said.
Inflation, he said, goes hand in hand with development, but the fluctuation of inflation rates is not good for a country


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