Days before Myanmar coup, IMF sent it $350mn in emergency aid. No chance to get it back
India TodayThe International Monetary Fund last week sent $350 million in cash to the Myanmar government, part of a no-strings-attached emergency aid package to help the country battle the coronavirus pandemic. The United States is the dominant shareholder in the IMF, which has provided Myanmar with $700 million in emergency coronavirus financing over the past seven months, including last week's payment, which included $116.6 million through the IMF's Rapid Credit Facility and $233.4 million through the Rapid Financing Instrument. The Fund said in a statement here on January 13 the money would help Myanmar meet "urgent balance-of-payments needs arising from the Covid-19 pandemic, especially the government's recovery measures to ensure macroeconomic and financial stability while supporting affected sectors and vulnerable groups." Difficult to get money back Unlike the IMF's regular financing programs, which disburse funds in smaller increments as performance benchmarks are met for agreed policy reforms, coronavirus emergency aid has been sent quickly, often all at once.
History of this topic
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IMF sent Myanmar $350 million aid days before coup; no precedent for refund
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Days Before Coup, IMF Sent Myanmar $350 Million in Emergency Aid; No Precedent for Refund
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