Frontier Myanmar-July 26

The numbers are startling. State-owned enterprises have K11.5 trillion (US$8.6 billion) in so-called “Other Accounts” at Myanmar Economic Bank. These accounts accrue no interest, costing the government hundreds of millions of dollars a year. Over the past three years, currency depreciation has meant the real value of these savings has likely declined by $2 billion.

Read more at: https://frontiermyanmar.net/en/cooking-the-books

First published in Frontier Myanmar