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IMF sent Myanmar $350 million in emergency aid; no precedent for refund

IMF sent Myanmar $350 million in emergency aid; no precedent for refund PTI Updated : Feb 3, 2021, 5:41 pm IST The State Department said it would review its foreign assistance to the southeast Asian country  Pictures for representational purposes ony (Image Source: PTI) WASHINGTON: The 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. 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-disbursing COVID-19 financing programs with almost no conditions and approved by the IMF board on Jan. 13, sources familiar with the payments and international finance experts said.

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