Myanmar's microfinance sector, agriculture, and COVID-19: Emerging insights and new challenges

Myanmar's microfinance sector, agriculture, and COVID-19: Emerging insights and new challenges

Author: Myanmar SSP Working Paper

Publisher: Intl Food Policy Res Inst

Published: 2021-12-02

Total Pages: 39

ISBN-13:

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This Working Paper takes comprehensive stock of the impacts of the first two waves of COVID-19 (in Q2 and Q4 2020) on the microfinance sector in Myanmar. We discuss potential impact pathways, review policy responses to the crisis, and present new quantitative analysis based on a set of surveys with respondents throughout the agricultural value chain. Additionally, we briefly review impacts since the military takeover on February 1, 2021. Overall, various disruptions to the microfinance sector, particularly during peak periods of COVID-19, significantly reduced overall lending from April 2020, onward. These disruptions, along with disruptions to external financing, led to greater informal borrowing, likely greater indebtedness, and lower food security. However, policy responses and financing accommodations to microfinance institutions (MFIs) in Q2 and Q3 2020 cushioned the sector against widespread insolvency. The events since the military takeover are creating new challenges, exacerbating the aforementioned impacts, and raising new risks of MFI insolvency and broader crises around food security, indebtedness, and poverty. Considering these findings, stakeholder recommendations underscore the importance of easing the movement of international and domestic goods. Efforts should be focused on meeting the MFIs’ need for loanable funds through mechanisms such as exchange rate hedging, credit guarantees, and loan enhancement, while continuing to encourage flexibility around existing financing. When the time comes for a full recovery, there should be a focus on facilitating additional financial injections so that MFIs can more effectively restart lending operations.


Book Synopsis Myanmar's microfinance sector, agriculture, and COVID-19: Emerging insights and new challenges by : Myanmar SSP Working Paper

Download or read book Myanmar's microfinance sector, agriculture, and COVID-19: Emerging insights and new challenges written by Myanmar SSP Working Paper and published by Intl Food Policy Res Inst. This book was released on 2021-12-02 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Working Paper takes comprehensive stock of the impacts of the first two waves of COVID-19 (in Q2 and Q4 2020) on the microfinance sector in Myanmar. We discuss potential impact pathways, review policy responses to the crisis, and present new quantitative analysis based on a set of surveys with respondents throughout the agricultural value chain. Additionally, we briefly review impacts since the military takeover on February 1, 2021. Overall, various disruptions to the microfinance sector, particularly during peak periods of COVID-19, significantly reduced overall lending from April 2020, onward. These disruptions, along with disruptions to external financing, led to greater informal borrowing, likely greater indebtedness, and lower food security. However, policy responses and financing accommodations to microfinance institutions (MFIs) in Q2 and Q3 2020 cushioned the sector against widespread insolvency. The events since the military takeover are creating new challenges, exacerbating the aforementioned impacts, and raising new risks of MFI insolvency and broader crises around food security, indebtedness, and poverty. Considering these findings, stakeholder recommendations underscore the importance of easing the movement of international and domestic goods. Efforts should be focused on meeting the MFIs’ need for loanable funds through mechanisms such as exchange rate hedging, credit guarantees, and loan enhancement, while continuing to encourage flexibility around existing financing. When the time comes for a full recovery, there should be a focus on facilitating additional financial injections so that MFIs can more effectively restart lending operations.

Rice productivity in Myanmar: Assessment of the 2021 monsoon and outlook for 2022

Rice productivity in Myanmar: Assessment of the 2021 monsoon and outlook for 2022

Author: Myanmar Agriculture Policy Support Activity (MAPSA)

Publisher: Intl Food Policy Res Inst

Published: 2022-06-01

Total Pages: 36

ISBN-13:

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We analyze rice input and productivity data for the monsoon seasons of 2020 and 2021 from the Myanmar Agriculture Performance Survey (MAPS). The survey covers plots of 2,672 rice producers, spread over 259 townships in all states/regions of the country. We find that: 1. Rice productivity at the national level during the monsoon of 2021 decreased on average by 2.1 percent compared to the monsoon of 2020. Considering estimated area reductions, national paddy production decreased by 3.4 percent compared to the monsoon of 2020. 2. Some areas performed substantially worse. Rice yields were low and declined significantly in Kayah and Chin, two conflict-affected states that have shown the highest levels of food insecurity in recent assessments. 3. Prices for most inputs used in rice cultivation increased significantly between these two seasons. Prices of urea, the most important chemical fertilizer used by rice farmers, increased by 56 percent on average and mechanization costs increased by 19 percent. 4. Paddy prices at the farm increased by 8 percent, significantly less than input prices, squeezing rice farmers’ profits during the monsoon of 2021. Despite the substantial hurdles in production and marketing due to the political crisis and international market developments, the results of the Myanmar Agricultural Performance Survey show the overall resilience of rice production during the monsoon of 2021. While the rice sector has been a source of stability in the country, the situation for future crop seasons is however concerning given further increases in input prices (especially fertilizer), the overall reduced profitability of rice farming, the reduced coping strategies remaining for rice farmers, and currency policy changes by the military government.


Book Synopsis Rice productivity in Myanmar: Assessment of the 2021 monsoon and outlook for 2022 by : Myanmar Agriculture Policy Support Activity (MAPSA)

Download or read book Rice productivity in Myanmar: Assessment of the 2021 monsoon and outlook for 2022 written by Myanmar Agriculture Policy Support Activity (MAPSA) and published by Intl Food Policy Res Inst. This book was released on 2022-06-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze rice input and productivity data for the monsoon seasons of 2020 and 2021 from the Myanmar Agriculture Performance Survey (MAPS). The survey covers plots of 2,672 rice producers, spread over 259 townships in all states/regions of the country. We find that: 1. Rice productivity at the national level during the monsoon of 2021 decreased on average by 2.1 percent compared to the monsoon of 2020. Considering estimated area reductions, national paddy production decreased by 3.4 percent compared to the monsoon of 2020. 2. Some areas performed substantially worse. Rice yields were low and declined significantly in Kayah and Chin, two conflict-affected states that have shown the highest levels of food insecurity in recent assessments. 3. Prices for most inputs used in rice cultivation increased significantly between these two seasons. Prices of urea, the most important chemical fertilizer used by rice farmers, increased by 56 percent on average and mechanization costs increased by 19 percent. 4. Paddy prices at the farm increased by 8 percent, significantly less than input prices, squeezing rice farmers’ profits during the monsoon of 2021. Despite the substantial hurdles in production and marketing due to the political crisis and international market developments, the results of the Myanmar Agricultural Performance Survey show the overall resilience of rice production during the monsoon of 2021. While the rice sector has been a source of stability in the country, the situation for future crop seasons is however concerning given further increases in input prices (especially fertilizer), the overall reduced profitability of rice farming, the reduced coping strategies remaining for rice farmers, and currency policy changes by the military government.

Dealing with the Challenges of Macro Financial Linkages in Emerging Markets

Dealing with the Challenges of Macro Financial Linkages in Emerging Markets

Author: Otaviano Canuto

Publisher: World Bank Publications

Published: 2013-10-29

Total Pages: 307

ISBN-13: 1464800030

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This book deals with the challenges of macro financial linkages in the emerging markets.


Book Synopsis Dealing with the Challenges of Macro Financial Linkages in Emerging Markets by : Otaviano Canuto

Download or read book Dealing with the Challenges of Macro Financial Linkages in Emerging Markets written by Otaviano Canuto and published by World Bank Publications. This book was released on 2013-10-29 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the challenges of macro financial linkages in the emerging markets.

The Global Findex Database 2017

The Global Findex Database 2017

Author: Asli Demirguc-Kunt

Publisher: World Bank Publications

Published: 2018-04-19

Total Pages: 148

ISBN-13: 1464812683

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In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.


Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

The Long Shadow of Informality

The Long Shadow of Informality

Author: Franziska Ohnsorge

Publisher: World Bank Publications

Published: 2022-02-09

Total Pages: 397

ISBN-13: 1464817545

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A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.


Book Synopsis The Long Shadow of Informality by : Franziska Ohnsorge

Download or read book The Long Shadow of Informality written by Franziska Ohnsorge and published by World Bank Publications. This book was released on 2022-02-09 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.

Navigating COVID-19 in Asia and the Pacific

Navigating COVID-19 in Asia and the Pacific

Author: Bambang Susantono

Publisher: Asian Development Bank

Published: 2020-09-01

Total Pages: 324

ISBN-13: 9292623567

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Coronavirus disease (COVID-19) has unleashed unparalleled challenges. At the same time, it offers a window to rethink Asia’s most fundamental development policies and strategies to address inequality, socioeconomic vulnerability, and environmental challenges. This publication gathers blogs and short policy pieces contributed by ADB staff and experts in an attempt to tackle immediate challenges and prepare for what may lie beyond the horizon. It covers a broad range of development challenges and highlights the crucial role of rapid adoption of digital technologies, adequate supply of quality infrastructure, disaster risk management, and strengthening regional cooperation for a resilient and sustainable future by shaping post-pandemic conditions.


Book Synopsis Navigating COVID-19 in Asia and the Pacific by : Bambang Susantono

Download or read book Navigating COVID-19 in Asia and the Pacific written by Bambang Susantono and published by Asian Development Bank. This book was released on 2020-09-01 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coronavirus disease (COVID-19) has unleashed unparalleled challenges. At the same time, it offers a window to rethink Asia’s most fundamental development policies and strategies to address inequality, socioeconomic vulnerability, and environmental challenges. This publication gathers blogs and short policy pieces contributed by ADB staff and experts in an attempt to tackle immediate challenges and prepare for what may lie beyond the horizon. It covers a broad range of development challenges and highlights the crucial role of rapid adoption of digital technologies, adequate supply of quality infrastructure, disaster risk management, and strengthening regional cooperation for a resilient and sustainable future by shaping post-pandemic conditions.

Asian Development Outlook 2020

Asian Development Outlook 2020

Author: Asian Development Bank

Publisher: Asian Development Bank

Published: 2020-04-01

Total Pages: 737

ISBN-13: 9292621564

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After a disappointing 2019, growth prospects in developing Asia have worsened under the impact of the current health crisis. Signs of incipient recovery near the turn of this year were quickly overthrown as COVID-19 broke out in January 2020 in the region’s largest economy and subsequently expanded into a global pandemic. Disruption to regional and global supply chains, trade, and tourism, and the continued spread of the outbreak, leave the region reeling under massive economic shocks and financial turmoil. Across Asia, the authorities are responding with policies to contain the outbreak, facilitate medical interventions, and support vulnerable businesses and households. Assuming that the outbreak is contained this year, growth is expected to recover in 2021. Especially to face down fundamental threats such as the current medical emergency, innovation is critical to growth and development. As some economies in developing Asia challenge the innovation frontier, many others lag. More and better innovation is needed in the region to sustain growth that is more inclusive and environmentally sustainable. Five key drivers of innovation are sound education, productive entrepreneurship, high-quality institutions, efficient financial systems, and dynamic cities that excite knowledge exchange. The journey to creating an innovative society takes long-term commitment and hard work.


Book Synopsis Asian Development Outlook 2020 by : Asian Development Bank

Download or read book Asian Development Outlook 2020 written by Asian Development Bank and published by Asian Development Bank. This book was released on 2020-04-01 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a disappointing 2019, growth prospects in developing Asia have worsened under the impact of the current health crisis. Signs of incipient recovery near the turn of this year were quickly overthrown as COVID-19 broke out in January 2020 in the region’s largest economy and subsequently expanded into a global pandemic. Disruption to regional and global supply chains, trade, and tourism, and the continued spread of the outbreak, leave the region reeling under massive economic shocks and financial turmoil. Across Asia, the authorities are responding with policies to contain the outbreak, facilitate medical interventions, and support vulnerable businesses and households. Assuming that the outbreak is contained this year, growth is expected to recover in 2021. Especially to face down fundamental threats such as the current medical emergency, innovation is critical to growth and development. As some economies in developing Asia challenge the innovation frontier, many others lag. More and better innovation is needed in the region to sustain growth that is more inclusive and environmentally sustainable. Five key drivers of innovation are sound education, productive entrepreneurship, high-quality institutions, efficient financial systems, and dynamic cities that excite knowledge exchange. The journey to creating an innovative society takes long-term commitment and hard work.

The Promise of Fintech

The Promise of Fintech

Author: Ms.Ratna Sahay

Publisher: International Monetary Fund

Published: 2020-07-01

Total Pages: 83

ISBN-13: 1513512242

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Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.


Book Synopsis The Promise of Fintech by : Ms.Ratna Sahay

Download or read book The Promise of Fintech written by Ms.Ratna Sahay and published by International Monetary Fund. This book was released on 2020-07-01 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.

Asia-Pacific Financial Inclusion Forum 2021

Asia-Pacific Financial Inclusion Forum 2021

Author: Asian Development Bank

Publisher: Asian Development Bank

Published: 2021-12-01

Total Pages: 130

ISBN-13: 9292691910

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The coronavirus disease (COVID-19) pandemic has highlighted the vital role of financial inclusion in supporting resilience and economic recovery among the most vulnerable populations in Asia and the Pacific. This publication identifies financial inclusion priorities to stimulate economic recovery and explores the challenges and opportunities of accelerated digital transformation. It proposes recommendations to aid policy makers and regulators. The publication shares insights from the 2021 Asia-Pacific Financial Inclusion Forum, a policy initiative of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Process. It was prepared in collaboration with the APEC Business Advisory Council, the Asian Development Bank Institute, and the Foundation for Development Cooperation.


Book Synopsis Asia-Pacific Financial Inclusion Forum 2021 by : Asian Development Bank

Download or read book Asia-Pacific Financial Inclusion Forum 2021 written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-12-01 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: The coronavirus disease (COVID-19) pandemic has highlighted the vital role of financial inclusion in supporting resilience and economic recovery among the most vulnerable populations in Asia and the Pacific. This publication identifies financial inclusion priorities to stimulate economic recovery and explores the challenges and opportunities of accelerated digital transformation. It proposes recommendations to aid policy makers and regulators. The publication shares insights from the 2021 Asia-Pacific Financial Inclusion Forum, a policy initiative of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Process. It was prepared in collaboration with the APEC Business Advisory Council, the Asian Development Bank Institute, and the Foundation for Development Cooperation.

Sustaining Myanmar’s microfinance sector during the COVID-19 economic crisis to support food security, resilience, and economic recovery

Sustaining Myanmar’s microfinance sector during the COVID-19 economic crisis to support food security, resilience, and economic recovery

Author: Toth, Russell

Publisher: Intl Food Policy Res Inst

Published: 2020-04-24

Total Pages: 10

ISBN-13:

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This note discusses the significant risks facing microfinance institutions (MFI) in Myanmar in the wake of the COVID-19 health and economic crisis and the implications for poverty and food insecurity of a serious negative shock to the MFI sector. The note is based on a desk review of the early policy responses in Myanmar, of best practices identified by international and local experts, and online discussions with leaders of MFIs operating in Myanmar. The objective is to make policymakers aware of the crucial role MFIs play in a wide range of economic activities in Myanmar, including food production, processing, trade, and marketing. A serious disruption to the MFI sector has the potential to: • Exacerbate food insecurity through damaging economic resilience in the short-to-medium term, • Lower agricultural output in the critical upcoming monsoon production season, and • Harm the potential for microfinance to contribute to economic recovery.


Book Synopsis Sustaining Myanmar’s microfinance sector during the COVID-19 economic crisis to support food security, resilience, and economic recovery by : Toth, Russell

Download or read book Sustaining Myanmar’s microfinance sector during the COVID-19 economic crisis to support food security, resilience, and economic recovery written by Toth, Russell and published by Intl Food Policy Res Inst. This book was released on 2020-04-24 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note discusses the significant risks facing microfinance institutions (MFI) in Myanmar in the wake of the COVID-19 health and economic crisis and the implications for poverty and food insecurity of a serious negative shock to the MFI sector. The note is based on a desk review of the early policy responses in Myanmar, of best practices identified by international and local experts, and online discussions with leaders of MFIs operating in Myanmar. The objective is to make policymakers aware of the crucial role MFIs play in a wide range of economic activities in Myanmar, including food production, processing, trade, and marketing. A serious disruption to the MFI sector has the potential to: • Exacerbate food insecurity through damaging economic resilience in the short-to-medium term, • Lower agricultural output in the critical upcoming monsoon production season, and • Harm the potential for microfinance to contribute to economic recovery.