Deputy Minister for Planning, Finance and Industry U Maung Maung Win joined the Sixth Tokyo Fiscal Forum virtually yesterday morning from Nay Pyi Taw.

Deputy Minister for International Bureau of the Finance of Japan Mr Kenji Okamura and Dean of the Asia Development Bank Institute Mr Tetsushi Sonobe delivered opening remarks respectively at the forum.

At the forum, senior international officials and experts including the International Monetary Fund (IMF) discussed to increase emergency medical expenses at present as well as fiscal policy and measures for the post-COVID-19 economic recovery since COVID-19 is still having a significant impact on households and businesses; debt relief methods and programmes; low-interest loans and grants provided by the IMF and the Asia Development Bank (ADB) to developing countries; extension of the debt repayment period to G-20 countries from January 2021 to end of June 2020 to support the growing spending on health of developing countries; and the possible financial risks of increased spending during the COVID-19 crisis and how to remedy it.

The forum focused on the management of fiscal risks as in response to COVID-19, which leads to a decline in government revenue and expenditure, increasing deficit and declining GDP growth and rising debt.—MNA

(Translated by Ei Phyu Phyu Aung)