The World Bank on Thursday released a statement regarding Myanmar local media reports about the country’s alleged possession of US$11 billion in five foreign bank accounts.
The World Bank was responding to recent
Myanmar media reports about the settling of arrears earlier this year by
the government of Myanmar with the World Bank.
“Mr. Jelson Garcia works for Bank
Information Centre, a non-government organization. He does not represent
the World Bank or speak on behalf of the World Bank,” said the
statement.
It also said that the Government of
Myanmar made a strategic decision to clear its arrears with the World
Bank and gain access to long-term, interest-free financing to support
reforms for the benefit of the people of Myanmar. This was a prudent
decision at a moment of potential macroeconomic stress and sent a
positive signal to the global community, said the statement.
The World Bank statement added that it
is common for governments to hold reserves in foreign bank accounts in
order to facilitate importation of goods and services and management of
the exchange rate.
The statement did not, however, say
whether or not Myanmar had $11 billion worth of foreign banks accounts,
as alleged by Garcia.
source: Eleven Myanmar
No comments:
Post a Comment