Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Myanmar 01 01 - Liquidity Support MMK
Myanmar 01A 01A - Short-term lending MMK Government of Myanmar. (accessed on 26 June 2020).

No amount/estimate: 24 June 2020, The government announced a COVID-19 Special Credit Loan to provide loan to farmers to relieve the impact of the COVID-19 pandemic on the agricultural sector. Both paddy and crop farmers are eligible to apply for the special relief loan until September 2020 with an interest rate of 5% per annum.

Myanmar 01B 01B - Support policies for short-term lending MMK International Monetary Fund (IMF). (accessed 24 July 2020); KPMG. (accessed on 28 May 2020).

No amount/estimate: (i) April 2020, Deposit auctions have been halted to maintain adequate liquidity in the interbank market; (ii) 9 April 2020, the Central Bank of Myanmar (CBM) announced a temporary reduction in banks’ required reserve requirement ratio from 5% to 3.5% of deposits till September 30; (iii) April 2020, It also announced a temporary revision to the formula for calculating the liquidity ratio, increasing the weight of government treasury bonds with a remaining maturity of more than one year from 50% to 90%, until September.

Myanmar 01C 01C - Forex operations MMK IMF. (accessed 24 July 2020).

No amount/estimate: April 2020, The kyat has been allowed to adjust flexibly, with limited rules-based intervention to manage excessive exchange rate volatility.

Myanmar 02 02 - Credit creation MMK
Myanmar 02A 02A - Financial sector lending/funding MMK
Myanmar 02B 02B - Support policies for long-term lending MMK
Myanmar 02B1 02B1 - Interest rate adjustments MMK IMF. (accessed 24 July 2020); KPMG. (accessed on 28 May 2020).

No amount/estimate: The CBM (i) cut the policy interest rate by 0.5 percentage points on 12 March 2020 and by 1 percentage point on 24 March 2020, and has announced a further 1.5 percentage points reduction to be effective 1 May 2020; (ii) May 2020, Deposit rates will be subject to a lower minimum rate of 6.5%, secured lending rates will be subject to a lower maximum of 11.5%, and unsecured lending will have a lower maximum rate of 14.5%.

Myanmar 02B2 02B2 - Other policies to support long-term lending MMK IMF. (accessed 24 July 2020); KPMG. (accessed on 28 May 2020).

No amount/estimate: 23 April 2020, The CBM announced the extension of the deadline for compliance to certain prudential regulations (enacted in July 2017) by three years from end-August 2020 to end-August 2023 to enable banks to support the economy cope with the impact of COVID-19.

Myanmar 02C 02C - Loan guarantees MMK
Myanmar 03 03 - Direct long-term lending MMK 100,000,000,000 71,326,676
Myanmar 03A 03A - Long-term lending MMK 100,000,000,000 71,326,676 IMF. (accessed 24 July 2020).

April 2020, A COVID 19 Fund worth MMK100 billion (USD70 million, 0.1% of GDP) has been established at the Myanmar Economic Bank to provide soft loans to affected business (particularly the priority garment and tourism sectors and small and medium enterprises [SMEs]) at reduced interest rates.

Myanmar 03B 03B - Forbearance MMK
Myanmar 04 04 - Equity support MMK
Myanmar 05 05 - Health and income support MMK 38,300,000,000 27,318,117
Myanmar 05A 05A - Health support MMK 300,000,000 213,980 IMF. (accessed 24 July 2020); KPMG. (accessed on 28 May 2020).

(i) April 2020, The allotment of MMK300 million (USD0.2 million) to the Ministry of Health and Sports for additional health-related expenditures; (ii) No amount/estimate: April 2020, Waiver of the “specific goods tax,” customs duties, and commercial tax on “critical” medical supplies and products related to the prevention, control, and treatment of COVID-19.

Myanmar 05B 05B - Income support MMK 38,000,000,000 27,104,137
Myanmar 05B1 05B1 - Tax and contribution deferrals and policy changes MMK IMF. (accessed 24 July 2020).

No amount/estimate: April 2020, Income and commercial tax payments due in the second and third quarters of the fiscal year have been made extendable to the end of the fiscal year.

Myanmar 05B2 05B2 - Tax and contribution rates reduction MMK IMF. (accessed 24 July 2020).

No amount/estimate: (i) April 2020, Starting 20 April 2020, the customs department has reduced duties for businesses operating with the Myanmar Automated Cargo Clearance System; (ii) April 2020, Exemption for the 2% advance income tax on exports to the end of the fiscal year has been announced; (iii) April 2020, The Ministry of Hotels and Tourism announced that fee for renewal license of hotels and tourism businesses will be exempted for one year up to the end of March 2021.

Myanmar 05B3 05B3 - Subsidies to individuals and households MMK IMF. (accessed 24 July 2020).

No amount/estimate: April 2020, Households without a regular income will be provided for with food during the upcoming long holidays; and electric bills, for up to 150 units, are exempt for most until the end of April 2020; (ii) April 2020, The Ministry of Labour, Immigration and Population will provide 40% of the social security fees for about 1.3 million insured workers from factories and workshops that are temporarily suspended for health inspections.

Myanmar 05B4 05B4 - Subsidies to businesses MMK
Myanmar 05B5 05B5 - Indirect income support MMK 38,000,000,000 27,104,137 IMF. (accessed 24 July 2020).

April 2020, The National Food Reserve has been allocated MMK38 billion.

Myanmar 05B6 05B6 - No breakdown (income support) MMK
Myanmar 05C 05C - No breakdown (health and income support) MMK
Myanmar 06 06 - Budget reallocation MMK IMF. (accessed 24 July 2020).

No amount/estimate: May 2020, Up to 10% of FY 2019/20 initial budget expenditure (excluding those implemented by foreign loans and grants) of each ministry will be re-allocated to fight against COVID-19.

Myanmar 07 07 - Central bank financing government MMK
Myanmar 07A 07A - Direct lending and reserve drawdown MMK
Myanmar 07B 07B - Secondary purchase: government securities MMK
Myanmar 08 08 - International Assistance Received MMK 2,835,839,420,000 2,022,710,000
Myanmar 08A 08A - Swaps MMK
Myanmar 08B 08B - International loans/grants MMK 2,835,839,420,000 2,022,710,000
Myanmar 08B1 08B1 - Asian Development Bank MMK 406,033,220,000 289,610,000 ADB

(i) 29 January and 17 February 2020, Greater Mekong Subregion Health Security Project (USD6.60 million); (ii) 7 February 2020, Strengthening Regional Health Cooperation in the Greater Mekong Subregion-Additional Financing (USD0.33 million); (iii) 24 April 2020, Policy Advice for COVID-19 Economic Recovery in Southeast Asia (USD0.15 million); (iv) April 2020, Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases (USD1.79 million); (v) 24 July 2020, Due Diligence and Capacity Development of Trade Finance Program Banks (Subproject 3) (USD0.21 million); (vi) 28 July 2020, Transport Sector Reform and Modernization (Additional Financing) (USD0.27 million); (vii) 10 August 2020, Sustaining the Gains of the Regional Cooperation in the Greater Mekong Subregion (Additional Financing) (USD0.05 million); (viii) 21 August 2020, COVID-19 Active Response and Expenditure Support Program (USD250 million); (ix) 1 September 2020, Supporting Microfinance and Lending Partner Financial Institutions in their COVID-19 and Post-pandemic Response (USD0.16 million); (x) 8 October 2020, Greater Mekong Subregion Health Security Project (Additional Financing) (USD30 million); (xi) 02 December 2020, Promoting Transformative Gender Equality Agenda in Asia and the Pacific (Supplementary) (USD0.05 million).

Myanmar 08B2 08B2 - Other MMK 2,429,806,200,000 1,733,100,000 World Bank. (accessed on 6 May 2020); World Bank. (accessed 10 June 2020); IMF. (accessed 29 June 2020); US Embassy in Burma. (accessed 24 July 2020); Embassy of Japan. (accessed 17 August 2020); Japan International Cooperation Agency (JICA). (accessed 02 September 2020); World Bank. (accessed 4 September 2020); IMF. (accessed 14 January 2021).

(i) May 2020, The World Bank has approved a USD50 million credit for the Myanmar COVID-19 Emergency Response Project, as part of global emergency support operations through a dedicated fast-track COVID-19 facility (loan); (ii) 29 May 2020, The World Bank approved a (a) USD350 million credit from the International Development Association (IDA) to increase the output and efficiency of power generation and improve the resilience of Myanmar’s electricity system to climate change and disasters; and (b) USD110 million in additional financing for the Essential Health Services Access Project, implemented nationwide since 2015; (iii) 26 June 2020, USD200 million to boost agricultural productivity and support farmers in the wake of COVID-19; (iv) 26 June 2020, The IMF has approved USD356.5 million emergency assistance for Myanmar under the Rapid Credit Facility and the Rapid Financing Instrument to support the government’s COVID-19 Economic Relief Plan that aims at minimizing the pandemic’s impact by stimulating the economy and boosting expenditures especially on health and social safety nets; (v) 21 July 2020, The US Government is providing more than USD18.5 million to support Myanmar’s response to the COVID-19 pandemic, i.e. (a) approximately USD10.3 million for health and (b) USD8.2 million in disaster and humanitarian assistance, including to support vulnerable people and host communities during the pandemic; (vi) 15 August 2020, The Government of Japan provided medical equipment to Myanmar under a grant aid worth JPY2 billion (USD18.1); (vii) 1 September 2020, The Japan International Cooperation Agency (JICA) is providing JPY30 billion (approx. USD280 million) concessional loan to the Myanmar Government to support resilient economic recovery through implementation of COVID- 19 Economic Relief Plan (CERP) and related policies for investment/trade promotion and financial sector strengthening; (viii) 13 January 2021, The IMF has approved the second emergency financial assistance equivalent to about USD350 million under the Rapid Credit Facility (RCF) and the Rapid Financing Instrument (RFI) [update].

Myanmar 09 09 - International Assistance Provided MMK
Myanmar 09A 09A - Swaps MMK
Myanmar 09B 09B - International loans/grants MMK
Myanmar 10 10 - No breakdown MMK
Myanmar 11 11 - Other Economic Measures MMK
Myanmar 12 12 - Non-Economic Measures MMK
Myanmar 12A 12A - Measures affecting travel and transport (local and international) MMK IMF. (accesed 24 July 2020); Ministry of Hotels and Tourism. (accessed 13 July 2020); United Nations Office for the Coordination of Humanitarian Affairs. (accessed 02 September 2020).

(i) April 2020, Travel restrictions have been announced, i.e. suspension of visa issuances and international flights, and closure of several land borders; (ii) 7 July 2020, Myanmar government announced that it is opening for domestic travel, but incoming international travelers will not be allowed until the end of July 2020; (iii) July 2020, Restrictions on visa issuances and international passenger flights have been extended to 31 July 2020; (iv) 2 September 2020, The temporary ban on international commercial flights was extended to 30 September 2020.

Myanmar 12B 12B - Measures affecting business and workplace MMK
Myanmar 12C 12C - Others MMK IMF. (accesed 24 July 2020); Ministry of Hotels and Tourism. (accessed 13 July 2020); United Nations Office for the Coordination of Humanitarian Affairs. (accessed 02 September 2020).

(i) April 2020, The government announced measures to limit the spread of the virus including quarantine requirements and ban of mass public gatherings; (ii) April 2020, Yangon and Mandalay will be under lockdown during the long holidays (10–19 April 2020); (iii) Government employees have been instructed not to travel home and will be compensated for this period; (iv) A National Central Committee on Prevention, Control and Treatment of 2019 Novel Coronavirus has been established to coordinate the authorities’ response. A second committee, the Control and Emergency Response Committee on COVID-19, was setup on March 30 to help with stricter administrative measures to control the spread of the virus, including quarantine migrant workers coming from neighboring countries.