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Myanmar’s similar finance ministry warns that it does not respect government debt


Myanmar’s centralized government has warned foreign banks not to lend money to General Min Aung Hlaing, saying they will not be aware of any further debt.

The warning was issued by the finance minister of similar state produced by aides of Aung San Suu Kyi, the country’s most outspoken leader. He also said that financial institutions should follow foreign trade strikes and boycott the government.

“The NUG government will not approve any domestic or international debt that the agency has committed,” Tin Tun Naing told the Financial Times in a video interview inside Myanmar.

“Once the military has started lending a loan and if it lends a loan to another lender, once NUG takes control, the loan will not be accepted.”

Tin Tun Naing also said that the same government wants to take over directing $ 1bn of Myanmar government finances in the US that Washington cooled off after the military took power.

“If we can raise $ 1bn, if it doesn’t dry out, this could make a huge difference in helping people and trying to rebuild the lives and lives of our people,” said Tin Tun Naing.

However, he acknowledged that these were “difficult legal areas” and part of “ongoing negotiations” with US officials.

NUG was formed in April by MPs from the National League for Democracy Suu Kyi, who were forced to power in the February uprising, along with a handful of ethnic groups and other anti-government activists in hiding or deportation.

The junta has named both NUG members and those who have recently declared a “public safety group” as terrorist groups. It has granted arrest warrants to NUG ministers.

No foreign government has recognized this government. However, officials and officials from several countries have spoken to their delegates as they seek to address Myanmar’s political and economic problems.

More than three months after the verdict, the junta is killed 785 people and arrested about 5,000, according to the Assistance Association for Political Prison. Even the seizure, a a disobedient group it continues to stage protests and demonstrations aimed at weakening the government and hampering banks and businesses.

“He insulted the people,” Tin Tun Naing told FT. “They didn’t expect people to reject them so much.”

He also said that the military “is already facing financial difficulties” and did not take out pensions after three months, but also benefits the elderly and the disabled.

Opponents of government and civil rights groups around the world demanded that businesses around the world seize all their money by force.

They can force foreign suppliers, including Japanese ones To do and South Korea Posco, to leave the countries and institutions controlled by the military.

NUG wants it too oil and gas and telecommunications companies to refund taxes, licenses and other payments to the military government by placing them in an escrow. The companies have said that doing so could put employees at risk of being prosecuted and damaging their jobs.

“NUG is a business venture and has no intention of disrupting the business of these companies,” said Tin Tun Naing. “I’m not asking for their jobs to end.”

However, he rejected the notion that the companies would face difficulties in returning their money to the government. “The military has twice thought it would be possible to do this in the superpowers with a strong government behind it,” he said.

Follow John Reed on Twitter: @JohnReedwrites


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