Economy

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State Administration Council Destroys Economy – Kyat Crashes… Rice, Food and Fuel Costs Skyrocket

During the last week of September, money exchanges offered 2,700 Kyat to the US dollar compared to 1,695 on the 1st September. The local currency began falling immediately after the military launched its coup against the democratically elected government on 1st February. When the military-appointed State Administration Council took control of the country, the Kyat traded at 1,395 to the…

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Human Rights Watch: World Bank Must Do More to Pressure Burma over Ongoing Abuses

Human Rights Watch has called on the World Bank Group to pressure Burma’s government to stop ongoing human rights abuses. The New York based human rights organisation acknowledged that Burma had undergone significant reforms since a flawed 2011 election propelled a nominally civilian government into power, led by President and ex-general U Thein Sein. Yet HRW also warned that despite…

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