WASHINGTON: Last week, the International Monetary Fund 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.
Days later, military leaders seized power and detained elected leader Aung San Suu Kyi and other elected officials, in what the U.S. State Department said on Tuesday constituted a coup.
There appears to be little the IMF can do to claw back the funds, part of rapid-dis ..
Days before coup, IMF sent Myanmar $350 million in emergency aid; no precedent for refund
- The IMF said in a statement on Jan. 13 the money would help Myanmar meet "urgent balance-of-payments needs arising from the Covid-19 pandemic". Unlike its regular financing programs, which disburse funds in smaller increments the coronavirus emergency aid has been sent quickly, often all at once.
