The International Monetary Fund (IMF) last week, a few days before the coup in Myanmar and the seizure of power by the military, sent the country’s government $ 350 million as part of an emergency package in connection with the coronavirus pandemic.
A representative of the fund told Reuters on Tuesday.
He confirmed to the agency that the funds were transferred last week. Reuters noted that unlike regular IMF financial support programs, funds provided under the emergency assistance programs cannot be returned.
“We are closely following the unfolding events. We are very worried about the impact of what happened on the economy of the country and the people of Myanmar,” the IMF said.
Sources told the agency that emergency deals are not conditional, giving governments more leeway in allocating funds. Reuters sources say that in the most favorable development of events, the government of Myanmar, having recovered from the coup, will use the funds as directed to maintain good relations with the IMF.