Irrawaddy-Oct 22

Myanmar’s military regime may soon find it more difficult to access its financial assets in Singapore, following discussions between authorities there and US officials on how to partner effectively to wield the city state’s financial leverage over the junta. Derek Chollet, counselor of the US Department of State, who was in Southeast Asia this week to work with regional countries to help restore democracy in Myanmar, had a meeting with the Monetary Authority of Singapore on Wednesday to discuss ways to limit the Myanmar military regime’s access to overseas financial assets. He said on Thursday that the city state has significant financial leverage over the regime, and this has to be a very important part of efforts to try to bring about greater pressure on the junta. Singapore is the largest foreign investor in Myanmar and has become a preferred destination for Myanmar’s military rulers and their associates, who make periodic visits for medical trips, recreation or to squirrel their money away in various accounts under different names. Furthermore, some companies there have commercial ties with the Myanmar military junta and its conglomerates.

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https://www.irrawaddy.com/news/burma/us-singapore-discuss-ways-to-cut-myanmar-juntas-overseas-financial-lifelines.html