22 May, 2013
Myanmar’s economy may grow 6.75 percent this fiscal year, led by natural gas sales and investment as the country moves to modernize its financial system, according to the International Monetary Fund. Last fiscal year’s growth is estimated at 6.5%, the IMF said in a statement. IMF also urged Myanmar’s central bank to set an exchange rate that balances the need to generate exports and maintain affordable imports, as the kyat continued its month-long slide against the US dollar. The exchange rate at official money changers on 23 May was 945 per dollar, compared with 925 a week earlier.