WASHINGTON: Myanmar could become Asia's next economic engine if it enacts vast reforms, the IMF said yesterday, signaling the country could receive a Fund monitoring program in 2013.

"With a commitment to strong reforms, Myanmar has the potential to vastly improve the living standards of its people and emerge as Asia's next rising star," IMF mission chief in Myanmar Meral Karasulu said in a statement.

The International Monetary Fund said the discussions pointed to the possibility of a staff-monitored program next year that would jointly monitor progress on the government's own reform plans.

Karasulu, who wound up weeks of talks with the finance minister, central bank chief and other senior officials, said the government had made rapid strides in reforms to modernize the economy since taking over from a military junta in 2011.

News: The Daily Sun/Bangladesh/23-Nov-12