"“Consequences of rising global economic and trade tensions on the financial sector are quicker and more severe as a result of faster global capital flows creating unpredictable currency volatility across the world,” U Soe Win told the Myanmar Global Investment Forum 2019 in Nay Pyi Taw this week. “Continuous trade tension and possible currency conflict between two large economies; abrupt changes in policy of one major economy taking a hawkish stance one day and then a dovish stance another day ... have been haunting many economies and leaving them with no other choice but to brace for any future unexpected shocks,” he said. Myanmar, therefore, has to “strengthen our macroeconomic environment to withstand these inevitable global contagion effects.” The minister told an audience of investors and executives that the government’s efforts have resulted in growth above 6 percent while inflation has been tamed at around 6-7pc. He admitted the country’s transition “may not have been on a bed of roses due to the presence of existing internal and external pressures”. But the administration has ”managed to stabilise our financial sector to some extent by making our monetary and fiscal policy transmissions effective as much as possible with limited financial instruments we have at hand.” The government previously admitted that it had underestimated the economic impact of the crisis in northern Rakhine..."