How Investors Helped Myanmar Telecoms

In 2010, when Myanmar held historic elections that would reduce the influence of the military and put the country on a path to democratic rule, it was a country that had endured decades of isolation. Less than 3 percent of the populations had mobile phones. This lack of connectivity limited not only access to service […]

The Land Rush in Myanmar

After decades of military rule, Myanmar at last has a democratically elected government. Longtime opposition leader Aung San Suu Kyi’s party took charge in March, with her ally Htin Kyaw becoming president and the Nobel laureate herself serving as foreign affairs minister. In response, the U.S. last month announced a partial rollback of economic sanctions […]

Dollar rise increases budget woes

Myanmar will have to sell treasury bonds again due to the consecutive budget deficits, according to the Ministry of Finance. The government is looking to take loans from home and abroad to solve the deficit. All the regional and state administrations face similar problems as the union government struggles to devolve investment. Maung Maung Win, […]

Myanmar’s First Govt Bond Auction Sells Less Than Half of $49m Offering

Yangon. Myanmar’s central bank sold less than half the 50 billion kyat ($48.83 million) worth of treasury bonds on offer in its first auction, which aimed to reform the fledgling economy and boost overstretched coffers, the bank said in a statement on Thursday. The sale of government debt at auction is the latest of a […]

United Amara frets bank run as owner’s father blacklisted

United Amara Bank has moved to head off a potential bank run after U Aung Thaung, father of its majority owner U Nay Aung, was placed on the US blacklist. U Aung Thaung is a former Minister of Industry and a sitting member of parliament. The United States Treasury placed him on its blacklist on […]