Almost back in favour: international donors flirt with Burma's generals

Article Abstract:

The ruling junta in Burma is considering economic reforms, which has prompted the International Monetary Fund to send a mission to Rangoon. The world monetary community has stayed away from Burma following a 1988 crackdown on pro-democracy forces. The generals appear to understand that Burma needs a stable value for its currency which involves devaluation. The U.S. wants to see improvements in human rights, democracy and counter-drug traffic efforts before it offers any financial assistance. However, Japan and several European countries may want to give Burma loans.

Commercial Banks, Commercial Banking, Business Financing, Economic assistance, Foreign economic assistance

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Sarong executives: local entrepreneurs team up with foreign investors

Article Abstract:

Burmese entrepreneurs are joining hands with foreign investors and attempting to take advantage of the available capital and market. Businessmen such as U Thein Tun and Martin Pun believe that the government should encourage businessmen to import foreign technological expertise and that this is essential to build the economy. Myanmar was a country with a socialistic base until 1988 and so profits are still seen as a suspicious concept. Moreover, critics believe that successful businessmen who work with the army in power, are endorsing an unpopular regime.

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Mung bean economy: Burma's currency needs reform

Article Abstract:

Burma's policy of pegging the official exchange rate for the kyat at 20 times the black-market rate discourages many would-be investors and slows economic growth. The govt says letting the rate float would create rampant inflation and other problems. Companies exporting goods can take their profits in other currencies, but those selling in Burma must use their kyat to buy local goods for export to get dollars or other hard currency. The govt encourages this practice and tacitly overlooks much illegal exchange.

Foreign exchange, Economic development

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