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Transforming business news - in Burmese
Traffic jams never used to be a problem in Yangon, but as Myanmar continues to open up after half a century of military rule, robust growth and a rush of foreign investment are having an impact on the street. New Chinese cars sit in gridlock next to the city’s rusting taxis and heaving buses. The monsoon air thuds to the noise of construction, from hastily built flyovers to new hotels and shopping malls.
Against a backdrop of rapid reform, Thomson Reuters Foundation trainers Mathieu Robbins and Ros Russell delivered a two-day intensive Reporting Economics workshop this month, organised by the International Monetary Fund and hosted at the Yangon offices of the Myanmar Federation of Chambers of Commerce and Industry.
The participants were mostly early career journalists from broadcast and print media, with a focus on economic beats. Several of them were business reporters for Myanmar’s new array of daily papers that have sprung up since last year’s liberalisation of the media sector. All were keen to hone their skills as financial journalists and to be able to report more effectively on Myanmar’s breathless economic transformation.
As the country integrates into the global economy after decades of isolation, we explored the global economic cycle, and Myanmar’s increasingly assimilated place in it. We discussed the meaning and significance of key economic indicators, sweeping aside jargon to help the journalists demystify seemingly complicated financial stories for their readers and viewers. We explained the tools the Central Bank can use to influence economic outcomes – a timely session as Myanmar’s Central Bank, now based in the modern capital Naypyidaw, moves towards independence from the Finance Ministry. In the wake of a managed float of the Myanmar currency, the kyat, and amid surging foreign exchange volumes, we explored some issues around foreign currency trading.
The reforms enacted by Myanmar’s civilian-fronted government have been rewarded with a suspension of U.S. and European sanctions and a rush of foreign investment. A news exercise involving U.S. giant Coca Cola mirrored reality – the company has just resumed business in Myanmar after an absence of 60 years. The participants were encouraged to look behind the headlines of corporate press releases to dig out the real stories – a new skill after decades of censorship and reporting by rote. In so doing, we discussed news judgement and found ourselves as trainers challenged and pleasantly surprised by the attendees’ knowledge and grasp of the issues.
Assisted throughout by the able translation skills of local translator Mr Aung, we held a lively discussion about journalistic ethics, and squeezed in an exercise on building strong and loyal sources – the key to outwitting the competition. And of course, we didn’t neglect the basics: good lead writing and story structure, the importance of accuracy over speed, balance and objectivity – and even drills on calculating percentages!
It was a highly rewarding two days made possible by the eager participation of a bright and enthusiastic group of young journalists. With thunderous monsoon downpours lending an atmospheric edge to our stay, it was a privilege to visit Myanmar at this exciting time.
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