EXCLUSIVE-Myanmar, with $6 bln in foreign reserves, is doing utmost to stabilise currency -minister


Reuters | Updated: 19-10-2021 14:26 IST | Created: 19-10-2021 14:21 IST
EXCLUSIVE-Myanmar, with $6 bln in foreign reserves, is doing utmost to stabilise currency -minister
Myanmar flag Image Credit: ANI
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Myanmar's military-appointed authorities are doing their utmost to stabilise the kyat currency and support an economy in crisis since a coup in February, a cabinet minister told Reuters on Tuesday, blaming the woe partly on foreign backers of opponents.

Inflation in the southeast Asian nation has soared more than 5% since the military took power and its foreign reserves stand equivalent to 11 trillion kyats, or $6.04 billion at the central bank's official rate, Aung Naing Oo, the junta's investment minister, said in a rare interview.

He attributed Myanmar's economic troubles to sabotage by opponents of the military, a strategy he said was backed by some foreign countries, without identifying them.

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