Abstract: "The new Government of Myanmar has astonished the world since it took office at the end of March 2011 by the pace and scope of policy changes it has introduced in a country that has underperformed most other Asian countries for decades. Not a single analyst inside or outside Myanmar before President Thein Sein?s inaugural address predicted the changes that many now label ?breathtaking.? The global policy community and the media have focused heavily on the political changes and challenges, giving less attention to the economic changes and challenges than they probably deserve. This paper focuses on 21 high-priority economic issues facing the Thein Sein administration in mid-2012.".....Overview... The Myanmar Economy at the End of the 2011/12 Fiscal Year... Macroeconomic Issues... The Primary Product Sectors... The Energy Sector... The Financial Sector... Infrastructure... State-Owned Enterprises... Private Sector Development... International Trade and Investment... Multilateral, Bilateral and International NGO Aid... Endnotes