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Myanmar Says It Has Enough Funds to Avert Sri Lanka-Like Crisis

  • Junta claims it has a ‘fair share’ of dollar, yuan in reserves
  • Low-interest loans worth 400 billion kyat planned for firms
Major General Zaw Min Tun 
Major General Zaw Min Tun Source: AFP/Getty Images

Myanmar has sufficient foreign reserves to avoid an economic crisis similar to Sri Lanka’s, the military government said, pushing back on suggestions by some analysts that the Southeast Asian nation faces a growing possibility of default. 

Major General Zaw Min Tun, a spokesman for the State Administration Council, said at a press conference on Tuesday that Myanmar has a “fair share of foreign-currency reserves,” including US dollars and yuan, without giving specific figures.