Myanmar military takes responsibility for economic crisis

0
21

People are seen at a market after army seized power in a coup in Yangon, Myanmar February 2, 2021. REUTERS/Stringer

Sept 30 (Reuters) – Myanmar’s ongoing economic problems were caused by “outside factors” and two waves of COVID-19 infections, but the military government takes full responsibility and is working hard to address them, a spokesman said on Thursday.

Speaking after the kyat currency hit new lows this week, the ruling military council’s spokesman Zaw Min Tun said the central bank had been unable to meet local demand for dollars.

Myanmar’s currency has lost more than 60% of its value since the beginning of September, driving up food and fuel prices in an economy that has tanked since a Feb. 1 military coup. read more

“The government is working its best to solve this situation as best as possible,” Zaw Min Tun told a regular news conference.

“As it is happened under this government, the current government will have to take responsibility.”

Many…

Read more…