Myanmar orders halt to foreign debt payments

Central Bank of Myanmar
Central Bank of Myanmar
Photo: Bjoertvedt/Wikimedia Commons

The Central Bank of Myanmar has ordered businesses and individuals to halt paying debts owed to foreign creditors, Bloomberg reported on July 14.

The central bank followed with a July 15 announcement that certain companies with foreign minority ownership would have to convert foreign exchange into local currency.

The CBM in early April had ordered Myanmar companies to convert their FX at an official rate of 1,850 kyat to the US dollar. The government later created a special committee to

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